Bitcoin reaches all-time high of $34,800 and Ethereum rises over 40%

  • Bitcoin hit a new all-time high of $34,800 yesterday, up more than $5,000 in just 3 days.
  • Ethereum is up more than 40% in the last 24 hours – to a price of $1,100.

Bitcoin has continued its brilliant price increase from December and reached a new all-time high of $34,800 yesterday. At the time of writing, the price is showing high volatility and is down 2.85% to a price of $32,108. The market capitalization stands at $618 billion.

Experts are generally bullish on Bitcoin, but also warn that the market is currently showing extreme volatility. It is not uncommon now for Bitcoin to fluctuate in price by more than $2,000 a day. Byzantine General also predicts that the rally is not over yet, as Tether continues to have the power to drive the Bitcoin price.

“Jonny Moe” elaborates on Twitter that BTC has begun a sideways movement that could end in a multi-day correction. Nevertheless, he points out that any technical chart analysis is not reliable at this time, as this bull run for Bitcoin changes everything and can result in unpredictable price movements.

According to trader “yTedd”, Bitcoin has shown a strong retracement in the last hours, however, in his opinion, the uptrend is fully intact, so Bitcoin could continue to rise after a short recovery period.

Ethereum on the way to new all-time high

Blockroots founder and Bitcoin trader Josh Rager predicts that Ethereum could reach a new all-time high this week, breaking the $1,450 mark. Ethereum price has doubled last 2 weeks and could continue this trend in the coming days. Within the last 24 hours, ETH has risen by 31%, to $1,063 (at the time of writing).

According to “HornHairs”, Ethereum is showing similarly strong fundamentals as in 2017, when Ethereum reached its former all-time high. In his opinion, a price rise to a new all-time high of $4,000 could follow before a significant correction. However, he points out that ETH must first climb to a new all-time high step by step in order to actually reach the forecast target.

“il Capo of Crypto” also predicts that the current price increase could be just the beginning of a new bull run that will take Ethereum to a new all-time high. As we reported earlier, “il Capo” also believes that this year more institutional investors could be the catalyst for a further rising ETH price.

“CRYPTO₿IRB” is also bullish on ETH, predicting that Ether could rise to $2,000 by March or April. He also views the fundamentals as strongly bullish. However, Ethereum may need a few run-ups before then to break through the all-time high of $1,450.

Cantering Clark is equally bullish, anticipating an altcoin rally as a result of the massive ETH bull run. This, Clark says, could boost the entire crypto market and drive it to new all-time highs. Ethereum, in his opinion, is well on its way to breaking through the all-time high in the coming weeks.

About Author

Collin is a Bitcoin investor of the early hour and a long-time trader in the crypto and forex market. He's fascinated by the complex possibilities of blockchain technology and tries to make matter accessible to everyone. His reports focus on developments about the technology for different cryptocurrencies.

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