Ether is showing strength, hinting at a potential 500% rally for altcoins in October, according to a crypto analyst. However, some traders are skeptical about Ether’s current uptrend. Altcoins could see gains of 200-500% in the next 2-4 months, with Ether trading at $3,854 and a 6.09% increase in the past 24 hours.

The ETH/BTC ratio is up by 38.53% in the last 30 days, indicating a possible upcoming altcoin rally. Historically, Ether has underperformed in Q3, averaging a return of 6.48% since 2016. Some traders caution against being overly bullish due to Ether’s weak performance in August and September.

There are mixed opinions on Ether’s rally continuation. A move to $4,000 could risk $817 million in ETH short positions. While some expect Ether to defy historical trends, others believe the current rally is over. Despite differing views, there is speculation about Ether hitting $16,000, according to Fundrat’s Tom Lee’s prediction.

Read more at Cointelegraph: Ether Surge Signals Major ‘200-500%’ Altcoin Rally: Trader