After bitcoin recovered some of the losses it has suffered in recent weeks, its price has been relatively stable. Nearly all other major cryptocurrencies experienced some gains over night, most notably cardano (ADA), which rose by more than 8 per cent.
Much of the focus has been on dogecoin, after another cryptic tweet from Elon Musk on Wednesday. He referred to himself as the “Dogefather” in a post, and referenced his appearance on SNL next month – while it wasn’t clear what he had planned, it was enough to push the price up almost 20 per cent.
Ethereum’s staggering price rise
Ethereum’s latest record means it is now 14-times more valuable than it was just one year ago.
This price chart shows it has been a bumpy but ultimately profitable 12 months for cryptocurrency investors.
Anthony Cuthbertson29 April 2021 16:58
Ethereum price hits new all-time – again!
Ethereum’s price is showing no signs of slowing down. After a brief period of consolidation after yesterday’s record high, the cryptocurrency has just hit another all-time high.
A couple of other major cryptocurrencies – notably cardano (ADA) and Binance Coin – have seen gains in recent days, but ethereum’s run has largely gone against broader market trends.
Bitcoin remains $10,000 off its all-time high, while dogecoin is also struggling to make its way back to the heights it saw earlier this month.
Ethereum’s latest price record means it has now risen by more than 1,300 per cent in less than a year.
We’ve got the full story here:
Anthony Cuthbertson29 April 2021 14:03
Bitcoin bull run imminent?
Other market analysts and cryptocurrency experts also seem to share this view, with current trends suggesting that bitcoin is preparing for a new record-breaking run.
Anthony Cuthbertson29 April 2021 11:25
Bitcoin price prediction: ‘New all-time high in May’
Bitcoin’s price has been all over the place in the last two weeks. After hitting a new record high in mid April above $64,000, it subsequently crashed to below $48,000.
It has since recovered somewhat and has been relatively stable over the last day or so, trading at around $55,000 on Thursday morning
We’ve reached out to an expert to hear his thoughts on what caused these wild fluctuations, as well as his prediction for where bitcoin might go from here.
“Bitcoin’s price has always been volatile and unpredictable, but the last few weeks have brought truly erratic behaviour,” Greg Waisman, the co-founder and COO of the global payment network Mercuryo, told The Independent.
“It started with the Turkish Central Bank’s announcement that using crypto as a means of payment will be banned starting on 30 April. This news knocked the coin down from its highest levels – $64,863 yet to $55k. After that, it dropped further due to expectations of increased capital gains tax in the US, and then even further after Tesla sold 10% of its BTC at $54,092.
“The recovery came as well after Elon Musk explained the point of the sale — to prove the liquidity of bitcoin as an alternative to holding cash on the balance sheet.
“In days to come, BTC is likely to see another drop when the Turkish ban actually arrives. However, after that, the coin should be able to start recovering properly from the level of $48,000. On the other hand, the beginning of the month often leads to price surges, so it would not be surprising for BTC to make an attempt to return to its ATH in early May.”
Anthony Cuthbertson29 April 2021 08:54
Ethereum price hits new all-time high
Just to add to the cryptocurrency market excitement today, the price of ethereum has just hit a new all-time high.
The world’s second most valuable cryptocurrency hit $2,736.18, according to CoinMarketCap’s price index, and was still rising at the time of…