Ethereum Gaining on Bitcoin as Altcoin Season Begins

January 19, 2021

Ethereum is up 28% compared to Bitcoin’s 3.5% over the last seven days. The price of one Ethereum token now sits just slightly below $1,800 Canadian. Just to put into perspective how much value Ethereum has gained over the last several months, the project has doubled in value in just the last 30 days, rising 111%. Just 90 days ago you could have had an Ethereum token for around $500 Canadian. That means ETH investors are now up more than 300% since that time.

If the last two weeks weren’t an indication that it’s now altcoin season, looks like the time is finally here.

What is Altcoin Season?

Altcoin season is really just a general belief about when a monsoon of bullish moves by altcoins will strike the retail and institutional investing markets. The phrase was coined during the altcoin runup that occurred throughout 2016 and 2017.

Ethereum stood at the forefront of that very first altcoin season. It was thanks to the boom of initial coin offerings that occurred at the time. While there were some competing altcoin projects raising significant capital via investors back then, Ethereum reigned supreme, and it still does today.

Is this actually the beginning of altcoin season? It’s hard to say. Yes, altcoins might just be beginning to go on a bit of a bull run. At the same time, Bitcoin does tend to be the rising tide that raises all boats. Still, even if you’re not the most confident in chasing altcoins, it’s only logical that the most valuable ones like Ethereum and Polkadot, are going to mimic Bitcoin to some degree and eventually catch up in price or maybe even surpass Bitcoin someday.

How to Invest in Ethereum Tokens in Canada

Netcoins is the best way to invest in Ethereum tokens in Canada. It’s a cryptocurrency exchange in Vancouver and one of the most trusted in the industry. Convert existing cryptocurrency or Canadian dollars into Ethereum tokens with just a click of a button. Register for a free account today and start learning from experience how you can benefit from the next altcoin season. It’s likely only just beginning.

Thanks for reading. For more blogs on all things in Bitcoin, you can read more here.