Ethereum's recent run has caught the attention of the crypto market. But what many may not realize is that on absolute terms, this rally managed to catch up with Bitcoin. This is a trend comparison between the two and purely for illustration purposes I have cross charted both on top one another.
As you see ETH has started to converge its price line with BTC's since Q4 2020. That is not the first time that happens, not in this Cycle (2018 - 2021) nor the previous (2015 - 2017). The chart shows that in certain phases the two coins diverge and then converge again. But contact is made only a little after halfway their Parabolic Phase of the Bull Cycle. That seems to be extremely good news as what followed the last time contact was made during the previous Cycle (May 2017), is a strong parabolic finish to the All Time High (ATH). Both BTC and ETH followed a tight rise, close parallel course to their respective ATH without diverging (at least not much) again.
At the moment contact is about to be made again. Is this a sign that both are entering the final (and strongest) phase of the Parabola? Feel free to share your work and let me know in the comments section!
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Eth corrected from 400 to 187 in July of 2017 almost 50 percent drop while Btc dominance was rising back from 35 to 60. Same will happen this time. Then eth will have its run again last 2 months of the bull run.
StoProphet
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@satiev1, the last 2 months of the bull run ? You mean June and July? Or May and June?
but if you look at the bitcoin market cap chart and the market cap of all alts (except BTC), you will see that there is a new cross. The last time this happened was exactly in December 2017.