What's next to Bitcoin and Ethereum
In addition to Bitcoin: Ethereum is also approaching its all-time high
Bitcoin has been increasing every day since October, and the rapid increase has led to new records. The cryptocurrency also succeeded for the first time in exceeding the $ 30,000 mark. While in the last boom it was the case that other cryptocurrencies also benefited, these days it is only Ethereum (ETH) that could soon reach an all-time record
ETH is the second most popular cryptocurrency on the market next to Bitcoin. In the past few days, it has experienced a boom similar to that of Bitcoin, breaking the $ 1,000 mark. The market capitalization of $ 100 billion has now been skipped.
The two largest currencies thus dominate the market again with almost 90 percent. But ETH still lacks a lot to reach its all-time high of 2018. On January 15, the value of 1329 US dollars was reached.
It is also noticeable that no other coins come close to their all-time high. Well-known cryptocurrencies such as Ripple, Dash, Monero or Litecoin are far from their records from the end of 2017 or beginning of 2018.
Chicago is helping
In an interview with Handelsblatt, Timo Emden, managing director of Coinmarketcap, a web service that provides bundled cryptocurrency market data, cites one reason for the development: "Investors have looked around in search of Bitcoin alternatives and are literally embracing Ethereum." The cryptocurrency also benefited from the announcement by the Chicago Mercantile Exchange (CME) that Ether futures should be tradable from February 8 of this year. Futures contracts are a legal agreement between two parties that, at some date in the future, will trade an asset at a well-defined price. As a result, traditional investors can also find an interest in Ethereum.
However, the current increases in the cryptocurrency market should be treated with caution. Because major course corrections have already occurred several times in history. (fpz, January 5th, 2020)
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