Multiple tokens saw a massive increase recently, so much so that many of them reached new all-time highs. This has caused countless traders scrambling as they try to identify which coin will be skyrocketing next. While Bitcoin’s (BTC) price has reached $64,000, Ethereum (ETH) has also managed to reach a new milestone, breaking a new record high at $4,523.
This event came a couple of days after Altair successfully got upgraded to the ETH network. This was the very first update to the Beacon chain, which means that it’s now one step closer to the full rollout of Ethereum 2.
According to data from TradingView and Cointelegraph Markets Pro, the price of ETH was increased to its current all-time high ($4,523) after hitting a low ($4,283) on November 2. Coinbase notes in a Twitter post that if Ethereum is able to maintain the increasing trajectory it’s in, it should be seeing its eight consecutive positive quarter of positive gains.
$ETH is on track for 8 consecutive positive quarters, +47% this Q4 pic.twitter.com/wK4pkBTM4f
— Coinbase Institutional (@CoinbaseInsto) November 2, 2021
*ETHEREUM TOPS $4500 FOR FIRST TIME EVER TO HIT NEW ALL-TIME HIGH$ETH pic.twitter.com/58VuT9SMnz
— Investing.com (@Investingcom) November 2, 2021
On another interesting note, a Twitter user who goes by the username ‘itwasntme’ posted two charts comparing ETH’s price in 2017 before the Bullrun versus its current price. Of course, the cryptocurrency ecosystem today is vastly different from the landscape of 2017, and it’s partly because of the increase of investors with a significantly bigger bankroll.
Still, the way things are going for Ethereum is worth keeping track of, especially since it seems like the market is going to have a solid finish for 2021. In summary, many analysts believe that by the end of this year, there’s a very high chance for a $10,000. Nevertheless, the overall consensus outlook for the crypto is rather bullish.
On the other hand, bulls are now on a mission to recapture BTC’s all-time high, which was at $67,000. Fortunately, it has broken out of the downward trend it was in recently. The bullish movement for this particular coin is mostly due to the fact that traders are confident that the BTC market will only strengthen within the next few months. Especially since based on previous data, November and December seem to be high-performing months for Bitcoin.
As for the overall crypto market cap, it’s currently standing at $2.736 trillion, while Bitcoin has a rating of 44.1% in terms of dominance.
