As analysts weigh the Bitcoin bear market, Ethereum is “about to become parabolic” against Bitcoin

Ethereum’s Ether (Ethereum) Will launch a “parabolic” attack on BTC to break all-time highs, an analyst believes.

Forecast the “crazy” ETH trend in 2 weeks

ETH/BTC 1-month candlestick chart (Bitstamp). Source: TradingView

Data from Cointelegraph Markets Pro with Transaction view It shows that ETH/BTC is close to a three-year high-but its next move should be even stronger.

Ethereum vs. Bitcoin is one of the few bullish narratives in the short-term crypto market this month.

in a tweet On December 3, the popular Twitter account Galaxy strengthened its optimistic forecast for the largest altcoin, and even hinted that ETH/BTC is about to surpass its already strong performance through a vertical trend.

“For many years, I have been waiting and publicly drawing the big picture of ETH/BTC, and now we finally come,” he told his followers next to a forecast chart.

“$ETH is about to enter parabolic mode. Wait to see how crazy things get.”

ETH/BTC 2-week annotation candlestick chart (Binance).Source: Galaxy/Twitter

ETH/BTC reached 0.085 this week, and its Highest Since a brief spike in May this year. In addition, only 2018 will be able to hit a record high. Nevertheless, the upper limit of certain exchanges that year was significantly higher, as high as 0.15.

In terms of US dollars, the situation is also promising. Ethereum repeatedly set new records in early November and has since remained roughly within 20% of US$5,000.

“In theory, if we continue to strengthen, we will see strong operations based on structures,” fellow trader Pentoshi wrote on Twitter. Individual comment On Ethereum Friday.

although Not everything Pointing to a decline in the level of USD 5,000, at the time of writing, the trading price of ETH/USD is approximately USD 4,550.

ETH/USD 1-day candlestick chart (Bitstamp). Source: TradingView

Bitcoin veterans adjust the bull market case

At the same time, Bitcoin’s sentiment remains conservative.

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After weeks of unremarkable price performance, analysts began to believe more in the “bearish” argument, although on the surface Still bullish On Bitcoin.

As Cointelegraph Report, The indicators on the chain also have no issues worthy of attention, but small clues such as long-term holder sales activities indicate a decline in beliefs.

Sentiment rose to the “neutral” zone this week, and now it’s back to the “fear” zone. Crypto Fear and Greed Index Measure 31/100.

Crypto fear and greed index. Source: Alternative.me