Ether has reached a price of $4,012 for the first time in eight months, marking a significant milestone for Ethereum as it competes with Bitcoin in the cryptocurrency market. This increase comes amid a broader surge in altcoins, with Ethereum taking market share from Bitcoin, which has seen its dominance slip below 60.7%. The optimism surrounding Ether's price reflects a shift in investor preference, with large-scale purchases noted by analytics platforms. Traders are discussing a potential bullish trend for Ethereum, predicting that its market cap could rise substantially. Analysts warn that while Bitcoin might rebound temporarily, a long-term decline in its market cap dominance seems imminent, with predictions suggesting it could drop to the low 40% range. This trend could further boost Ethereum as it solidifies its place in a changing cryptocurrency landscape.

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