Ethereum finally reached a New All-time High
ETH, the second-largest cryptocurrency in the cryptocurrency market, finally reached its highest level of $ 4,366.09. This is the highest price Ethereum has ever experienced. At the time of writing, the ETH price on CoinMarketCap is $ 4,216.52 and it is fluctuating. In the chart below you can see the price of Ethereum:
How has the Bitcoin ETF affected the price of Ethereum?
The recently launched Bitcoin ETF has created a strong incentive to increase the price of altcoins. As we expected, the increase in the price of bitcoin will cause bitcoin to act as the leader of altcoins and increase their price as well. At the time of writing, Bitcoin is priced at around $ 64,930.07 and this increase in the price of bitcoin has provided an incentive to increase the price of altcoins and the same scenario has been repeated. Ethereum will also undergo many changes in the next few months. and these changes can also attract investors to Ethereum and thus increase the price of this altcoin.
Can Ethereum eventually replace bitcoin?
The recent rise in Ethereum prices and possible future changes to the coin has led to the $ 10,000 Ethereum hypothesis. Goldman Sachs also expects Ethereum to replace bitcoin and the reason for this prediction is an open-source blockchain. But what is certain is that as long as Bitcoin is at the forefront of the cryptocurrency market, rising prices will push up the price of other altcoins such as Ethereum.
Ethereum (ETH) Has Finally Formed a New All-time High – Is a $10,000 Price Level Next? https://t.co/bRDDunqQR0 pic.twitter.com/D7D1KtLJDm
— Wccftech (@wccftech) October 21, 2021
