Ether (ETH) has broken a critical price point confronting Bitcoin (BTC), signalling that altcoins may be virtually to run into huge gains.

Cryptocurrency market overview. Source: Coin360

I'd have Ether bet "all solar day long" — Winklevoss

Data from Cointelegraph Markets, Coin360 and TradingView showed ETH/BTC pass the essential 0.026 level in but one daily candle on Jan. three.

After staying weak throughout Dec, Ether has rebounded in the first few days of 2021, and Sunday'southward performance could be the first of something much bigger.

As Cointelegraph Markets analyst Michaël van de Poppe noted terminal calendar week, 0.026 BTC is a significant breakout point, and flipping information technology to support indicates "strength and continuation" of a bullish resurgence.

"It's fourth dimension for #Ethereum, #Polkadot, #Cardano, #Chainlink and more to pause all-time highs," he told Twitter followers on Sunday.

"I practice believe that nosotros're seeing money shift from BTC towards altcoins and that Ether has bottomed out on the BTC pair," explained Van de Poppe. "So probably continuation of altseason in this quarter with the topping out of Bitcoin say-so." He added:

"But hey, a Bitcoin correction would exist appreciated too."
ETH/BTC 1-day candle nautical chart (Bitstamp). Source: TradingView

At press fourth dimension, ETH/USD was approaching landmark toll levels of its ain, taking aim at $one,000 on the dorsum of 21% daily gains. The terminal fourth dimension that the pair traded at iv figures was in January 2018.

"$ETH was the best performing asset (upwardly 450%) of 2020 hands down and still below its best loftier," Cameron Winklevoss, entrepreneur and co-founder of exchange Gemini, added on Twitter.

"Today it'due south the equivalent of 15K #Bitcoin I would take that bet all day long."

Altseason is here at to the lowest degree?

With the prospect of "altseason" now firmly back on the menu, height ten market cap altcoins are showing signs of life against Bitcoin.

Litecoin (LTC) is upwards 18% against the largest cryptocurrency, while Bitcoin Cash (BCH) is 13.3% higher and Cardano (ADA) 9.7%.

Even XRP, yet struggling on the back of legal activeness against Ripple, is finding its anxiety once again with 3.v% daily progress in BTC terms. Bitcoin's overall market cap authorization remains above 70%.

Bitcoin market place cap authorisation historical chart. Source: CoinMarketCap

Equally Cointelegraph reported, meanwhile, a longer-term commitment to altcoins may also prove lucrative this year. Mining Ether, for instance, could cyberspace over $120,000 per annum.