Ethereum beat even Bitcoin in terms of overall gains in 2020, but the Altcoin
‘ href=”https://www.newsbtc.com/dictionary/altcoin/”>altcoin ‘ href=”https://www.newsbtc.com/dictionary/altcoin/”>altcoin
‘ href=”https://www.newsbtc.com/dictionary/altcoin/”>altcoinwill “double” within “two weeks.” Here’s what that might look like if the top-ranked Altcoin
‘ href=”https://www.newsbtc.com/dictionary/altcoin/”>altcoinand its underlying network have, but thus far, momentum hasn’t pushed the asset to a new all-time high like it has Bitcoin.
In addition, the whole alt market will be the double digit gains every day.
— Simon Dedic (@scoinaldo) January 14, 2021
But that won’t last for long, according to Moonrock Capital Managing Partner Simon Dedic. Dedic claims that like Bitcoin, as soon as bulls manage to breach the former high set at $1,400, the cryptocurrency will “double” in less than “two weeks” to over $3,000.
Here's what Ethereum doubling in price in two weeks would look like | Source: ETHUSD on TradingView.com
Here’s Ether’s Path To Doubled Prices In Less Than Two Weeks
A move of that size might sound implausible after the asset has spent three full years trading below the former high, but the FOMO that arrived once Bitcoin bypassed its former peak is the only example necessary. Options contracts on the altcoin reaching over $10,000 at the end of 2021 also bode well for the trending asset.
The chart above shows what such a breakout might look like, with Ethereum surging past its former peak and doubling to around $3,000 in a flash. Bitcoin price action placed behind ETHUSD could provide clues to the trajectory the altcoin could take.
Related Reading | Ethereum Options Contract Hints At The Altcoin Closing 2021 Over $10K
And because so many altcoins are built on Ethereum, all eyes are on the top