Ethereum has drawn many comparisons with early Bitcoin, and is expected to grow in value substantially and make for life-changing wealth. Those that missed out on the initial run up are in luck, however, as one crypto analyst says that the recent bullish retest presents a “once-in-a-lifetime opportunity.”
Here’s an in-depth look at the bullish retest the analyst is referencing, and what that ultimately could mean for the second ranked cryptocurrency behind Bitcoin for the long run.
Ethereum Bullish Retest Completes: What This Means For The Top <span class="wpg-tooltip-term-title">Altcoin</span></h3><div class="wpg-tooltip-content">Altcoin is defined as any cryptocurrency except for Bitcoin. “Altcoin” is a combination of two words: “alternative Bitcoin” or “alternative coin”. There are over 1,500 altcoins with many more planned for release.<p class="wpg-read-more"><a href="https://www.newsbtc.com/dictionary/altcoin/">» Read more</a><p></div>”>Altcoin
Ethereum has been arguably more bullish than Bitcoin itself, driving a higher ROI but still nowhere near former highs on the two crypto asset’s ratio.
Related Reading | Economist: Ethereum Looks “Bullish” After Withstanding “Macro Beating”
Eventually, Ethereum should catch up to Bitcoin on the ETHBTC trading pair, causing the top ranked <span class="wpg-tooltip-term-title">Altcoin</span></h3><div class="wpg-tooltip-content">Altcoin is defined as any cryptocurrency except for Bitcoin. “Altcoin” is a combination of two words: “alternative Bitcoin” or “alternative coin”. There are over 1,500 altcoins with many more planned for release.<p class="wpg-read-more"><a href="https://www.newsbtc.com/dictionary/altcoin/">» Read more</a><p></div>”>altcoin to outpace the first ever cryptocurrency in terms of performance.
That time could be coming, as Ethereum just completed an extremely bullish retest of its former all-time high, and held it with extreme strength. The showing by bulls withstanding a “macro beating” could provide the confidence to fuel another leg up, taking Ethereum beyond prices of $2K per <span class="wpg-tooltip-term-title">Coin</span></h3><div class="wpg-tooltip-content">A coin is a unit of digital value. When describing cryptocurrencies, they are built using the bitcoin technology and have no other value unlike tokens which have the potential of software being built with them.<p class="wpg-read-more"><a href="https://www.newsbtc.com/dictionary/coin/">» Read more</a><p></div>”>coin.
This retest could be a once-in-a-lifetime opportunity to get in before it is too late | Source: ETHUSD on TradingView.com
Crypto Analyst Claims Those Who Missed Out Initially Get Another Chance
According to one crypto analyst, the bullish retest is another chance for those who missed out on the initial rally. They claim this is a “once-in-a-lifetime