Yes, that’s a golden cross! There is an exciting update for all Ethereum enthusiasts. The market is about to witness a fabulous golden cross. Has the Altcoin Season Begun? Or is it too early to shoot such a question? Anyway, there is no shortage of excitement in the Altcoin community. Let’s join this happiness, and see what’s exactly happening.
Ethereum Golden Cross: What You Should Know
Last week, many experts predicted the possibility of a golden cross in Ethereum. Since then, the entire Ethereum community has been impatiently waiting for that moment. And the moment has finally arrived today. The 50-day SMA of Ethereum has just touched its 200-day SMA. What makes a golden cross noteworthy is that it paves the way for explosive growth. Ethereum definitely looks very bullish right now. In the last 24 hours alone, it has seen a growth of 3.0%. Interesting to note is the fact that in the previous golden cross, the ETH market experienced a 2x gain.
Alt Season and Ethereum: An Simple Overview
There is a high chance for an Etheruem golden cross to trigger an Alt Season. Ethereum, with a market cap of $447,966,072,120, is the top altcoin by market cap.
There is no wonder why Alt Season has all of a sudden returned to the discussion tables of the crypto community. In fact, at least two prerequisites for the start of an Alt Season have already happened: Ethereum outperforming Bitcoin, and Bitcoin’s dominance falling.
In the last 30 days, ETH has outperformed BTC by at least 10%. Moreover, in the last seven days, the BTC dominance has slipped from around 58.22% to as low as 55.15%. So, the picture is crystal clear. The market is ready for an Alt Season.
What Could Happen Next in Ethereum?
It’s time for predictions. With this golden cross, there is no confusion about one thing: the Ethereum market is certainly going to go up in the coming days. Crypto expert Mikybull Crypto predists if history repeats, the ETH market could see a 2x growth soon.
Golden Cross is about to happen on $ETH
Get ready for that explosive phase of #ALTSEASON we discussed about
The last time this occurred, ETH witnessed 2x rallies. https://t.co/K8cx7rs4aa pic.twitter.com/8NCPXNnDS3
— Mikybull 🐂Crypto (@MikybullCrypto) December 4, 2024
A 2x growth in Ethereum is the best catalyst the altcoin market can get to kick-start its Alt Season.
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