Experts: Bitcoin’s uptrend will likely translate to Altcoin rally

Most of the Altcoins are on the rise today, while the Bitcoin consolidates failing to break $15500 resistance

The Bitcoin briefly touched the 65% dominance mark which is a record percentage since the April 2017, and then declined back to 63% and is currently trading at $15200

Currently, the Ethereum is on the rise (+1.29%) and some other major alts like $LINK (+8.72%) and $BCH (+2.21%) are following Altcoin rising trend.

The rise of traders and investors interest towards Ethereum is partly caused by the recent announcement of the Ethereum 2.0 network upgrade release. The news pushed the price of Ethereum from $380 to $410, which is currently traded at $455 and rising.

Opinion

I believe we may see Ethereum touching the $500 mark in the next week, and for it to sit somewhere around $600 – $700 in January 2021 if the ETH 2.0 release will occur as promised.

Ethereum 2.0 release is longly anticipated event which is expected to improve all aspects of Ethereum network which is used for a huge amount of DeFi and other projects based on Ethereum network.

Improvements will include transaction speed increase, improved network security and other major improvements.