Ethereum (ETH) Hits Highest Price Ever! Is this a precursor to bitcoin (BTC) outbreak?

While bitcoin (BTC) has struggled with the USD 60,000 resistance zone in recent days, ethereum (ETH) today established a new all-time high! With this morning Binance coin (BNB) that managed to set a record price, the altcoins seem to be gaining momentum.

Ethereum (ETH) sets a new record after an impressive rally

On March 25, ethereum, the largest altcoin in the market, started to rise. The ETH price has since increased by 35% in value. And that ultimately set a new price record that was set today. The highest price that ethereum has ever reached is now at $ 2,081.80 on cryptocurrency exchange Coinbase.

After today’s move, the bulls are now breaking out above USD 2,000. Should the price hold up here, there are likely to be spots around the round price zones where traders may cash in on some of their profits.

Ethereum’s trading volume is also picking up nicely. However, large explosive increases such as we saw at the beginning of January have not yet been reached. So it remains important to keep an eye on whether the price is actually able to hold.

Is ethereum taking the lead for bitcoin (BTC)?

As mentioned, bitcoin does not show any spectacular things for the time being. The price is still just below USD 60,000 with the hope that BTC will sooner or later break above this. With the ever slightly higher lows, it seems likely that a direction will be chosen soon.

At the time of writing, bitcoin’s price is $ 59,200 on Coinbase. It is striking that a small shift appears to be taking place in the market. Bitcoin dominance has decreased slightly again and is now 57.5%. This is a sign that altcoins are starting to gain in value compared to the altcoins.