Bitcoin continues to recover, Ethereum reaches new highs
BTC/USD
While Bitcoin has refused to break through the neck level (12000.00) and is “quietly” consolidating sideways, within the yellow corridor (between 13 and 14 thousand dollars) the price reduction to ten thousand is postponed. Here it is more likely that the cue ball will recover to the area of 16 thousand. Bitcoin's capitalization is approximately 256 billion US dollars and still holds the palm in the cryptocurrency world. In order not to get bored, contemplating the flat cue ball, let's see how well Ethereum took off from a low start.
ETH/USD
Recall that on December 19, 2017, the price of Ethereum set a record high. According to various cryptocurrency exchanges, this maximum was recorded at:
Literally in two days, December 22, broadcast from lost half of its value at a catastrophic speed and set a local minimum. According to the same top cryptocurrency exchanges, the minimum value was estimated as:
- 512.00 USD Bittrex
- 494.00 USD Bitfinex
- 519.99 USD Bitstamp
- 519.74 USD Poloniex
- 528.94 USD EXMO
True, the price of ether did not stay in the area of its minimum value for long, rather quickly recovering to the area of 61.8% fibonacci ($720.00). Roughly speaking, somewhere at this level Ethereum celebrated the New Year.
- On January 2, 2018, a new wave of news raised the price of Ethereum to a new peak, and each of the crypto exchanges recorded its own maximum value:
- 888.00 USD Bittrex
- 887.43 USD Bitfinex
- 888.00 USD Bitstamp
- 885.10 USD Poloniex
- 917.46 USD EXMO
Despite the fact that the price of ether has regained its last year’s highs, the capitalization of Ethereum has given up its honorable second place to Ripple coins, and taking third place, approximately is $85 billion.
I assume that after a slight pullback to the support level in the area of $800.00 per ETH, the price will continue to rise again, setting its maximum at the target level of $950.00 and overtaking Ripple in terms of capitalization.
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