Recently, holders of alternative cryptocurrencies have been under considerable pressure due to market volatility over the past five weeks. Such periods of intense fluctuations often test the resolve of investors, leading many to consider giving up.
However, it is important to recognize that when Bitcoin’s dominance weakens, altcoins often flourish. Discussions surrounding ETFs for Ethereum are becoming increasingly prevalent, with approvals and commercialization expected as early as July. Bitcoin’s current dominance is similar to its peaks in 2017 and 2021.
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There is high anticipation for the upcoming Ethereum ETF, expected to attract significant interest from investors, just like Bitcoin did. Prior to the launch of a spot Ethereum ETF, the altcoin market may react strongly, potentially causing a period of volatility. It is crucial to remain calm and resilient during this stage.
Ethereum is poised to take a leading position, reducing Bitcoin’s dominance and increasing the influence of ERC20 projects. This could give rise to an active altcoin season, with Bitcoin potentially rising to $80,000 to $100,000 or more by the end of summer.
