Ether Hits New All time High of $4,750 on 8th November 2021
The world's second largest cryptocurrency looks unstoppable and trying to make new all time high everyday. Ether has achieved a new milestone and made a new all time high of $4,750 on 8th November 2021. At the time of writing, Ether price was trading at $4,760.
Ethereum market cap hits $562 billion, sharing over 19.5% of all the total crypto market cap and surpassing big companies like Visa, Bank of America, Alibaba, P&G etc ranked 15th on the world's total assets market cap, according to the companiesmarketcap.
Overall the crypto market is looking bullish but the way ether is moving, Crypto evangelist and founder of BEI, Pankaj Tanwar looking for $5,000 if it maintains the price above $4,350. He is also eyeing for $6500 by the end of this year, if ether able to break and maintain above $5,000 in a weekly candle. Bitcoin price also reached above $66,000, but interestingly bitcoin dominance also decreased and the last time in 2017, it went down to around 34% which was the peak of 2017 bull cycle. According to him, we might see some more good moves in bitcoin and other altcoins in the next two to three months.
In 2021, Ethereum has given more returns than Bitcoin. Many factors contributed to this rally but few major factors played the key role. One of the important reasons is the launch of ETH 2.0 where over 8 Million Ether already staked in the smart contract. Short supply on crypto exchanges and increasing institutions interest also moving the ether price up. After the bitcoin ETF, Ether ETF has also filed in US Security and Exchange Commission by the name of "Vaneck Ethereum Trust" .