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Home Tech Crypto Ethereum hits $500 for the first time since June 2018, outperforming Bitcoin...

Ethereum hits $500 for the first time since June 2018, outperforming Bitcoin YTD

Document Analysis NLP IA

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neutral
sentiment

Sentiment0.09260619010619
objective
redaction

Subjectivity0.44145558145558
it's an affirmation
Affirmation0.53301886792453

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Summary (IA Generated)

Ether (ETH) returned to $500 for the first time in more than two years on Nov.

Data from Cointelegraph Markets, Coin360 and TradingView showed ETH/USD briefly hitting the psychologically significant barrier in Friday trading before a rejection halted progress.

Despite being capped at roughly 6% daily gains at press time, Ether’s achievement delighted traders, who noted that overall in 2020, the largest altcoin has outperformed even Bitcoin (BTC).

Versus the pit of its price lows in mid March, just after the coronavirus-induced cross-asset crash, Bitcoin was still the strongest player — at the time, ETH/USD traded at just $117, making Friday’s levels an increase of 327%, while BTC/USD gained 411% from $3,600 to $18,420.

Ether price year-to-date chart.

Earlier, Cointelegraph Markets analyst Michaël van de Poppe had argued that a new “altseason” would need to wait, but that a realistic top for Ether’s next bull run could be as high as $20,000.

In an interview with Van de Poppe for Cointelegraph, meanwhile, Nugget’s News CEO Alex Saunders forecast ETH/USD beating its current all-time highs of $1,400 by the end of 2021.


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