Ethereum price spikes to $1,161 for the first time in three years: What’s next?
Ether, the native cryptocurrency of Ethereum, rose to $1,161 but immediately corrected thereafter. The price of Ether (ETH), the native cryptocurrency of the Ethereum blockchain, achieved $1,161 for the first time since January 2018. Immediately after it hit a new three-year high, ETH corrected to below $900.Ether rallied due to the momentum of Bitcoin. Historically, following a strong BTC rally, altcoins saw a swift uptrend. Traders usually call this “altseason” because many altcoins tend to increase in tandem.Why did Ether correct and what happens next?Ether rose following Bitcoin’s....
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Roughly six years ago in July 2016, an Ethereum hard fork was used to address the infamous DAO hack. This specific fork saw the chain split into two factions, and a new crypto asset called ethereum classic was introduced to the crypto community. For years now both chains have co-existed using the same proof-of-work (PoW) consensus algorithm, and with The Merge coming up, speculators assume Ethash PoW miners will transition to ethereum classic mining. During the last two weeks, ethereum classic has climbed more than 124% against the U.S. dollar, and the network’s hashrate has spiked....
Bitcoin price spikes grab headlines, but the asset's long-term value depends on its developers – and what drives them.
Ethereum Price Key Highlights. Ethereum price is still struggling to pick up its pace in the downtrend, as another consolidation pattern formed on the short-term time frame. Price is stuck inside a descending triangle pattern, with sellers trying to gain enough energy to push for a downside break of support around 0.00160BTC. Ethereum price is able to carry on with its ongoing selloff, although sellers appear to be having difficulty taking it down to new lows. Potential triangle breakout. For now, ethereum price is testing the triangle support but several spikes have formed, which suggests....
The Christmas period is traditionally pretty subdued across the financial asset markets, and bitcoin is no exception to this rule. Low participation rates weigh on volume, and make it difficult to form any real intraday bias as a result. With low volume comes spikes, and with spikes come breakouts, however, so just because participation might be low, there’s no reason we can’t draw a profit from any action. Financial markets across the globe reopened yesterday (albeit not for a full week with New Years coming up on Friday) and its time to get back into our bitcoin price watch strategy. So,....
Ethereum only just broke its former all-time high, while Bitcoin left took that record back in 2020. However, an investment in the top-ranked altcoin at any point since the 2018 bottom, has resulted in a much higher higher ROI than an equal part USD investment in BTC. Why does this incredible over-performance exist? And will […]