Bitcoin's dominance is falling as Ethereum targets the flippening

The market share of Bitcoin in the crypto market is falling, while the price of Ethereum (ETH) has at one point exceeded 4,300 dollars, leading many experts to predict that this coin could surpass BTC in value within the next year. Strong chart patterns along with increasing interest from businesses further reinforce the likelihood of the "flippening" phenomenon – the moment Ethereum becomes the number one cryptocurrency.

The rapid growth of ETH occurs against the backdrop of Bitcoin's dominance market share breaking the trend that started in late 2022. Analyst Lark Davis notes that a similar decline in the past led ETH to its all-time high (ATH) of $4,900, and with the price surpassing $4,000, analysts now forecast a stronger rally ahead.

Source: Lark Davis## Analysts predict the price of ETH will rise significantly in the coming months

Traders, institutional investors, and experts all believe that this could be the beginning of a large and more sustainable bull run, after ETH rose about 24% above $4,330.

Most of this optimism comes from Ethereum just breaking through the extended Wyckoff Accumulation pattern. This accumulation phase often sets the stage for an uptrend, after the market absorbs all the selling pressure from sellers and weak-handed investors, before the balance of power shifts entirely towards the buyers.

Analyst Lord Hawkins stated that breaking through the resistance zone of $4,200 indicates that the buyers are dominating the market, marking a "Sign of Strength" according to Wyckoff's theory. He explained that the price may experience a slight adjustment (during the "Last Support Point") before entering the acceleration phase when demand exceeds supply (during the accumulation phase).

Hawkins estimates that the phase after this accumulation could push the price of ETH towards a technical target of around $6,000, while also bringing new momentum to the entire market.

Famous analysts like Crypto Rover and Titan of Crypto point out that ETH has just broken out of a multi-year symmetrical triangle pattern, and the size of this triangle indicates a potential target that could reach $8,000. A similar breakout pattern in 2020 proved that ETH can far exceed the original target, as the price rose from under $200 to over $4,000 in just over a year.

Analyst Nilesh Verma emphasizes the recent price bounce of ETH from the support zone of $1,750–$1,850 is similar to the price action that occurred in 2017 and 2020. Back then, cycles took Ethereum from low price levels to record highs, with an increase of up to 8,000% in just one year. Verma believes that ETH could reach at least $10,000 in the next 6–8 months and even has the potential to hit $20,000 during the same period.

Bitcoin's market share decline further fuels discussions about the "altcoin season" and the possibility of a flippening

Analyst Ali stated that "...the altcoin season has officially begun" after pointing out that the net capital change of Ethereum has surpassed Bitcoin for the first time in this cycle. This observation indicates that investors are willing to pour larger amounts of capital into other major cryptocurrencies besides Bitcoin.

Source: AliThe co-founder of Ethereum even predicts that as more and more businesses choose to hold ETH alongside or instead of BTC, fund management companies may push the market cap value of Ethereum above Bitcoin within the next year.

Famous trader and KOL Lark Davis commented that the buying pattern of institutions and the spread of the narrative "ETH surpassing BTC" is increasingly appearing in market discussions and investment strategies.

On the contrary, the CEO of JAN3 and a strong advocate for Bitcoin adoption, Samson Mow, warned investors about the recent price surge of ETH. He believes that this increase may stem from strategic moves by large holders of ETH, rather than long-term and sustainable demand.

According to Mow, some people in the early internal Ethereum group and ICO investors are currently holding large amounts of Bitcoin, taking advantage of the new narrative and market excitement. They may be swapping BTC for ETH to drive up the price of Ethereum, then selling ETH to lock in profits and transferring the profits back to Bitcoin when the price reaches a sufficiently high level.

Minh Anh