Several factors could explain ether’s spectacular gains and determine whether they will continue.
Bitcoin’s price volatility spiked in January and could further increase over the near term because “whales” have begun accumulating coins.
The number of bitcoin on-chain deposits has dropped sharply over the last six months, indicating a strong optimistic or “HODLing,” sentiment in the market.
A key on-chain metric has witnessed solid growth over the past 12 months, possibly indicating steady accumulation of bitcoins by retail traders.