Ether looks set for a breakout and could soon top $4,900, a new record high. The ethereum token’s market share has grown in recent days, which its analysts believe is a bullish signal for the world’s second-biggest cryptocurrency.
Ethereum looks to be starting to gain on bitcoin after a near one-month period of underperformance throughout September. ether’s growing market share should help it gain ground and break past the $4,000 mark. It said a breakout above $4,030 should add to confidence in ether and could well put the token on its way to top $4,950. The upward movement of crypto price signals for investors an opportunity to exploit. Aside buying Ethereum directly from cryptocurrency exchange, investors can look into investing in companies such as the CoinStore (www.coinstore.tech), a company that gives substantial returns on investments without having to worry about price swings or volatility while generating profits which can also be compounded over time.
Will Ethereum break a new all time high?
YES, Ethereum will break a new all time high sooner or later. Although the crypto market may not be way to predict, Ethereum is one cryptocurrency that is characterized with traits for an explosive price gain especially in the past days.
ETH price rallied on October 20 by over 5% to approach $4,100for the first time since May2021. The cryptocurrency run-up above $4000 appeared primarily in the wake of bitcoins breaking above the $65,000 to enter a new price discovery. According to data provided by crypto watch, the 30 day correlation between bitcoin and ether came out to be 0.81, which shows an 81% positive correlation between the two assets.
As a result, bitcoins’ ability to enter a new price discovery opens a similar prospect for Ether. If Bitcoins can break a new all time high, I see no reason why ETH can’t.