Ethereum Near New All-Time Peak As #ETH ETF Awaits

Ether will be the next cryptocurrency to surpass its current all-time high, according to a well-known cryptocurrency market analyst.

ETH could surprise cryptocurrency markets and hit new all-time highs before bitcoin has price discovery again.

In some of his latest market analysis, Michaël van de Poppe, founder and CEO of the trading firm MNTrading, predicted that a “likely” movement of the ETH/USD pair will occur.

Analyst believes focus on altcoins is driving ETH price

Ether is the next cryptocurrency in line to surpass its current all-time highs, according to new analysis.

As Cointelegraph reported, cryptocurrency traders anticipate strong bitcoin price action in response to another historic ETF moment: the launch of Ether spot ETF products in the United States.

These, although not yet fully approved to begin operating, have received the green light from regulators after a surprising 180-degree turn.

At the same time, the move could reduce bitcoin's share of the global cryptocurrency market, something some say would give altcoins more room to gain.

“Bitcoin dominance has likely peaked this cycle at 58%,” Van de Poppe argued over the weekend.

"Altcoin valuations are very low compared to bitcoin. The next all-time high will probably be Ether."