Ethereum is targeting a thousand dollars and altcoins rising against Bitcoin

The Ethereum digital coin (ETH) has breached a critical price point against Bitcoin (BTC), indicating that altcoins may be on the verge of making huge gains.

Data from the Coin Telegraph, Coin360 and Trading View markets showed that the Ethereum pair against Bitcoin crossed the key 0.026 level in just one daily candle yesterday, Sunday, January 3, 2021.

After staying weak throughout December, Ethereum has rebounded in the first few days of 2021, and Sunday's performance could be the start of something much bigger.

As Michael Van de Pope, an analyst at Coin Telegraph Markets pointed out last week, 0.026 Bitcoin is an important breakout point, and turning it into support indicates strength and continued bullish recovery.

He told Twitter followers on Sunday it was time to move beyond Ethereum, Bolcadot, Cardano, ChenLink and others to the highest levels ever.

at the time of writing, the Ethereum pair was nearing its historical price levels, targeting $ 1,000 on the back of a 21% daily gain. The pair last traded at four digits was in January 2018.

Gemini Stock Exchange Entrepreneur and Co-founder Cameron Winklevoss added on Twitter: The Ethereum pair was the best performing asset (up 450%) for 2020 and still is Less than its highest level ever, indicating that today's level is equivalent to 15,000 Bitcoin, and I will accept this bet throughout the day.

With the prospect of the altcoin season back on the list strongly, the top 10 digital currencies on the market are showing signs of life against Bitcoin.

Litecoin (LTC) rose 18% against the largest digital currency, while Bitcoin Cash (BCH) rose 13.3% and Cardano (ADA) by 9.7%. / p>

Even XRP, which is still struggling over legal action against Ripple, is finding ground again with a daily advance of 3.5% against Bitcoin. The dominance of Bitcoin's total market value remains above 70%.

According to Coin Telegraph, meanwhile, a long-term commitment to altcoins could be profitable this year. The net profit of Ethereum mining, for example, could be more than $ 120,000 per year.