Bitcoin rose earlier today in a considerable move for the bulls as Ethereum made another upside move as well. The latter posted a new all-time high of around $4.5k as the bullish start to November begins. The number one and two largest digital currencies by market capitalization are looking to assert themselves at the very start so that investors prepare for the “Moonvember” month.
Bitcoin posted a two-week high of around $64k earlier today. This is the same level at which the index posted its previous all time high of around $64.5k back in the middle of April earlier this year. However, the difference between the then move and now is that the cryptocurrency has stayed near it even after achieving it. Back in the fourth month, the digital currency’s price index tanked soon after reaching this milestone. This time however, it is a completely different story. Several big indicators are flashing green and the bulls are keeping it well above $60k with ease.
Now, the only push that remains for the bulls is to regroup and make it go above the $67k all time high level soon enough. After that, the long-term price targets like $80k and $100k will come into play for sure.
Ethereum, the second largest digital currency by market capitalization has been posting slow and steady gains and new all time highs for fun. Today, the digital currency was on a steady offensive again, posting a new all time high of $4.5k in the process. The move came after only a few days of the Altair upgrade to the network which was a preparation for the Ethereum and Ethereum 2.0 merger that will happen soon enough.
The previous all time high could only stand for a few days this time around as it was set back on October 29. It was $4.42k and was broken four days later i.e. earlier today. The new highest valuation ever for the digital currency is $4.52k. The bulls are currently in complete control over the Ethereum price index and it keeps on rising very consistently.
Both Bitcoin and Ethereum lie at the cusp of a big bullish month and their moves earlier have shown that intent. However, they both need to make significant moves fast or they will loose some of their momentum. Bitcoin needs to above its record price of $67k and Ethereum needs to go above the $5k level for smooth sailing ahead.
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