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Four years later, Ethereum has finally broken through the key resistance level of $4000 again. This breakthrough is significant, marking not only a strong rebound for Ethereum but also potentially signaling the arrival of the altcoin season.
As the leader of the altcoin market, Ethereum's performance has always been regarded as a barometer for the entire cryptocurrency market. Historically, Ethereum's rise tends to drive the trends of other alts. This breakthrough of the $4000 mark undoubtedly injects new vitality into the market.
It is worth noting that Bitcoin's market share continues to decline and has now dropped to 60%. This trend is similar to the situation at the end of March 2021, when Bitcoin's market share quickly fell below 60% and dropped to 40% within two months. If history repeats itself, we may see further expansion of the altcoin market.
However, the volatility of the cryptocurrency market remains high. A recent operation by well-known investor Arthur Hayes is a typical example. He sold when the price of Ether was $3500, but bought back at $4100, and this "buy high, sell low" operation has attracted market attention.
As Ethereum approaches its historical high of $4800, the market may soon enter a phase of mainstream coins. For investors who missed the early investment opportunities in Bitcoin and Ethereum, focusing on the development of mainstream coins may be a consideration worth exploring.
However, investors should keep in mind that the cryptocurrency market is fraught with both risks and opportunities. Before making any investment decisions, it is essential to fully understand market dynamics, assess one's own risk tolerance, and conduct thorough research and analysis.