The Altcoin Season Now Definitely Has Begun Parabolic Growth of ETH/BTC to Prove It

Сезон альткоинов теперь точно начался, это доказывает параболический рост ETH/BTC

Source: Shutterstock

Analysts have noted parabolic growth in the leading altcoin, although it is unlikely that Ethereum will become the leading cryptocurrency in the near future. Along with ETH, other altcoins are growing, including Dogecoin (DOGE).

Parabolic growth, in contrast to linear growth, promises a fast change of the market situation, but as a rule, after a parabolic growth, a correction or drop occurs. However, in the case of ETH, this rule may not work.

An analyst with the nickname il Capo notes that Ethereum has been growing at the expense of bitcoin for a long time. Bitcoin Dominance is steadily declining, and ETH’s market share is growing fast. Now Bitcoin Dominance has lost its support level of 50% and will decline more rapidly, il Capo believes, while the share of ETH is about 15% and will grow.

Il Capo notes that the ETH / BTC ratio, which is now around 0.05, will at least double to 0.1 level. With the current BTC price above $58K, this means that the capitalization of ETH will reach $660 billion.

Il Capo states that the altcoin season has definitely begun. He gives his portfolio structure: 75% for altcoins, 20% for ETH, and 5% for BTC. The expert points on Syntropy (NOIA) as the most interesting among altcoins, he even added the ticker of this cryptocurrency to his nickname. He is also positive about Binance Coin (BNB), Band Protocol (BAND), Balancer (BAL), Litentry (LIT), Zilliqa (ZIL), TomoChain (TOMO), and Hedera Hashgraph (HBAR).

At last, the unusual growth of Dogecoin (DOGE) got a reasonable explanation. Dogecoin is a non-functional cryptocurrency, non-scalable, launched as a joke. There is an opinion that the growth of DOGE is purely speculative, due to the fact that it was pumped by Elon Musk, who is testing the cryptocurrency market to manipulate it.

But now billionaire investor Mark Cuban has defended DOGE. He notes that it is one of the few cryptocurrencies used for transactions. The expert says:

– DOGE is the one coin that people actually use for transactions. We take many others via BitPay. But people spend their Doge and that means more businesses will start taking it.

BitPay is a popular service in the United States that makes it easy to use bitcoin and Bitcoin Cash (BCH) to pay for goods and services. Dogecoin is indeed accepted by some sports clubs and other businesses that rely on the community. Therefore, the growth in the price and capitalization of DOGE can be considered at least partially organic, due to the wider adaptation of the cryptocurrency.