Analyst: It is recommended to shift from ETH to high beta altcoins, as this will yield significant excess returns if the market rises
ChainCatcher news, according to Cointelegraph, the ETH/BTC ratio has dropped to its lowest level since mid-2020. Economist and cryptocurrency trader Alex Kruger stated, "If you still hold ETH, now might be a good time to switch to high beta altcoins. If the market goes down, the losses in both cases could be similar, but if the market goes up, you could see significant outperformance, and then you can switch back to BTC."Many in the crypto industry view the "bottoming" of the ETH/BTC ratio as a signal that altcoin season may be starting. Benjamin Cowen, founder of Into The Cryptoverse, stated that for altcoin season to arrive, "ETH/BTC needs to bottom and start an upward trend."However, other indicators suggest that altcoin season may not arrive soon, and Bitcoin may continue to maintain its market share in the short term. CoinMarketCap's altcoin season index shows a score of 13/100, leaning more towards Bitcoin season. Crypto trader Hansolar mentioned that this year will be "an all-year Bitcoin season." According to TradingView data, Bitcoin's market dominance currently stands at 62.15%, while when Ethereum reached its all-time high of $4,800 in November 2021, Bitcoin's market dominance was around 42%.