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On Thursday (April 22), Ethereum ($ETH) reached its highest price in Bitcoin ($BTC) — 0.047284 — on crypto exchange Binance at 14:41 UTC; this is the highest level that ETH-BTC has traded at since 19 August 2018.
Arthur Cheong (“@Arthur_0x” on Twitter), Founder and Portfolio Manager at Singapore-based DeFi-focused investment firm DeFiance Capital, said that he believes that soon ETH-BTC will reach 0.1.
ETH/BTC at its highest point since Aug 2018.
— Arthur (@Arthur_0x) April 22, 2021
0.1 soon. pic.twitter.com/2YzDFHHNxj
Popular pseudo-anonymous crypto trader and market commentator “Crypto Dog” had this to say about Ethereum’s price action:
It's pretty clear that altcoins and $ETH don't have the same supply pressure $BTC is experiencing right now.
— The Crypto Dog📈 (@TheCryptoDog) April 22, 2021
Talking of supply pressure, one thing that reduces supply pressure on Ethereum is staking on the ETH 2.0 Beacon Chain, and so it is fitting that today Bitstamp announced that it had started rolling out this service to its customers:
We’ve started rolling out #Ethereum staking at @Bitstamp! Sign up for early access and be among the first to start earning $ETH by staking your assets on our platform: https://t.co/uhwsEiHVlQ pic.twitter.com/OFJL4FjzFG
— Bitstamp (@Bitstamp) April 22, 2021
Crypto analyst and journalist Jospeh Young said that With Bitcoin Dominance currently at its lowest level since July 2018, Ethereum is leading an alt season.
Bitcoin dominance index now at 50.2% for the first time since July 2018.
— Joseph Young (@iamjosephyoung) April 22, 2021
Ethereum is leading an alt szn.
Michaël van de Poppe is another crypto analyst who is very bullish on Ethereum at the moment; he belives that $ETH is headed to $10,000:
#Ethereum to $10,000 is inevitable.
— Michaël van de Poppe (@CryptoMichNL) April 22, 2021
But perhaps the person most bullish on Ethereum at the moment is former Goldman Sachs executive Raoul Pal, who said yesterday that $ETH has outperformed $BTC since inception, that it will probably soon pass its all-time high against $BTC, and that he is very tempted to sell his entire $BTC holdings in order to buy more $ETH:
Again, this is no attack on the SoV properties etc of BTC but overtime, ETH has outperformed since inception, which is a non-deniable fact and soon it will probably surpass its ATH vs BTC too
— Raoul Pal (@RaoulGMI) April 21, 2021
As for the $ETH-USD trading pair, on crypto exchange Bitstamp, at 14:56 UTC, it reached $2,608.84, which is a new all-time high.
Featured Image by “elifxlite” via Pixabay.com
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.