Ethereum (ETH) continues to show positive trends, potentially influencing altcoin prices in the coming months. However, the market remains uncertain.
Strong Signs for Altcoin Growth
According to MN Trading Capital co-founder Michaël van de Poppe, Ethereum's current movement opens new possibilities for altcoins. He states that a growth of 200-500% on these assets could occur over the next 2-4 months. In a post on X, he mentioned that the "recent ETH surge is the first step towards a more risk-on investor sentiment."
Trader Skepticism About Ethereum
However, many traders express doubt regarding the sustainability of Ethereum's current trend. Trader Ash Crypto warned that August and September are typically bearish months for the crypto market and advises caution regarding the current movement. Other market participants, like trader Muneeb, also point out that this leg may be done for now.
Ethereum's Future in Light of Historical Data
Historically, Ethereum has shown weak results in the third quarter, with an average return of only 6.48% since 2016. Nonetheless, some traders are hopeful for positive changes, pointing to decreasing ETH supply on crypto exchanges and increasing institutional interest. Analyst Wolf also noted that "don’t act surprised" if Fundstrat's Tom Lee's prediction of a $16,000 Ethereum comes true.
Thus, despite warnings and a history of weak third-quarter performance, Ethereum continues to show strength, which could impact altcoins in the coming months.
