The cryptocurrency market saw a fascinating move at the beginning of the week as Bitcoin surged past $123,000, setting a new record. Ethereum also showed impressive growth, reaching new heights.
Bitcoin's Surge
At the start of the week, Bitcoin (BTC) made a significant push, surpassing $123,000 and establishing a new record. Despite this, changes in Bitcoin's price had a limited impact on altcoins.
Ethereum's Climb
Ethereum (ETH) reclaimed the $3,000 level and reached a 5-month high of $3,150. According to analytics firm Swissblock, a key driver behind Ethereum's rise is the capital rotation from Bitcoin.
Predictions for Ethereum
Analyst Merlijn The Trader suggests that Ethereum could follow Bitcoin's trajectory, which saw an increase of 1,100% from 2018 to 2021. This could result in Ethereum reaching approximately $18,205. However, experts caution against making investment decisions based on a single analysis.
With current trends and analyses regarding Ethereum's growth, the cryptocurrency market continues to display dynamic changes, sparking interest among investors.
