Michael van de Poppe reported that #Ethereum there are high chances of surpassing the $4000 mark, which the coin last approached on December 8:
"The strengthening of Ethereum over Bitcoin in January should not be perceived as a surprise in the market, and then a rally of altcoins is likely in the ecosystem."
The shift in leadership will be caused by the influx of funds into spot Ethereum ETFs and the outflow of capital from spot Bitcoin ETFs. The consolidation of the quotes of the first cryptocurrency will be a catalyst for sharp demand for altcoins, believes the expert.
The 5% increase in the price of Ethereum in recent days indicates a change in the sentiment of traders and investors — buyer activity has increased. It is now crucial for ETH to hold the critical support level of $3500 for the bullish scenario to materialize, the analyst explained.
Earlier, Michael van de Poppe stated that next month the price of the first cryptocurrency could drop by 25-30%, and then a six-month period of sideways movement for Bitcoin would begin.