Ether Sets a New All-Time High, Bitcoin Stalls Near $61K

Ether Sets a New All-Time High, Bitcoin Stalls Near $61K

Created by TradeOr

3rd Party Analysis 29 Oct 2021

Key Takeaways:

    • Ethereum’s coin jumps 10% on Thursday, trades at a fresh record above $4,400 on Friday
    • The price of bitcoin is gyrating near its weekly open at $61,000 after it recovered from a dip

    What’s Today’s News in Crypto?

    Ether, the second-biggest token, reached a new all-time high early on Friday. More precisely, the Ethereum token surged to levels above $4,400 today, beating previous record of $4,380 set in May.

    Bitcoin, on the other hand, is on the cusp of having a fifth-straight week of gains. In more detail, the price of bitcoin is now hovering right above its opening level for the week. With this in mind, traders and investors on Thursday were able to pare back the losses from the past couple of days.

    That said, the leading cryptocurrency slipped about 6% on Tuesday and Wednesday. However, crypto bulls were quick to buy the dip when bitcoin floated at a weekly bottom of $58,000 on Thursday.

    Still, the digital currency was powered higher by increased buying momentum and bitcoin was able to gain over 6% on Thursday to close above $61,000 per coin.

    What’s the Price of Bitcoin?

    Presently, the price of bitcoin is trading around $61,100. If this level holds, the flagship crypto will notch a fifth-consecutive week in green territory. Over the past five weeks, bitcoin has surged 50%, from a low of $40,500 near the end of September.

    Its closest rival, however, has rallied even more. The Ethereum token is higher by 55% over the past five weeks. Furthermore, Ether has outperformed bitcoin by a wide margin this week. Compared to bitcoin’s flat level for the week, Ether boasts a weekly gain of about 12%.

    On Thursday alone, the Ethereum cryptocurrency popped about 10% to climb above $4,200 per token.

    Early on Friday, Ether is trading near $4,350 per token as price has retreated slightly from its record high level.

    How to Buy Bitcoin or Ether?

    Buying bitcoin is easy. After years of developments and going through complex technological operations, you can buy bitcoin with a few clicks today. To do that, simply head over to our comprehensive guide on buying bitcoin.

    Fancy other coins out there? Check our extensive cryptocurrency list to see which coins are the most preferred.