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NewsBTC 2021-08-04 23:00:06

Ethereum Set To Explode According To Market Dominance, Crypto Analyst

Crypto Analyst Nicholas Merten recently said in a video analysis session on YouTube that Ethereum’s price is poised to explode. Merten pointed out that price analysis really isn’t the reason that the number 2 cryptocurrency is set to explode, but what the market dominance shows that actually shows this. This shows through when the cryptocurrency market dominance is measured. Merten believes that current market trends are very similar to what was done in the market back in 2017. Going back to when the last bull market had started in 2017. Before fizzling out and turning into a full-blown bear market by the time the middle of the year 2018 rolled around. The current trends of higher lows that have been seen so far in the market continue to mirror the cycle of 2015 when Ethereum had started to show momentum in the market. Related Reading | How Much Is Your Love Worth? Polish Influencer Sells “Love” As NFT This momentum had continued on for Ethereum straight through 2016 and all the way into 2017, leading up to the bull cycle that had begun in November 2017. Ethereum has so far maintained momentum despite a variety of competition in the market. It continues to hold market dominance around the 19% to 20% range. “This showcases that this is a critical metric we need to watch for because we’re testing around that 20% range. One-fifth of the market share going towards Ethereum,” Merten said. The Key To Another Shoot-Up Mark...

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Ethereum Set To Explode According To Market Dominance, Crypto Analyst

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