Bitcoin has came down slightly as it lost some of the gains it made yesterday. The largest digital currency by market capitalization went above $63k the day before and looked quite threatening but further progress on the bull run has been slow and now it is trading around $62.5k at press time. Altcoins on the other hand are having some good time as Ethereum (ETH) and Solana (SOL) both posted new all time highs earlier in the day while Ripple (XRP) also recorded some good gains to go above $0.20.
Bitcoin had a slow day overall as further gains remained exclusive throughout the day. The digital currency is looking to post gains at the start of November to mark the arrival of the much anticipated continuation of the long-term price rally. However, yesterday wasn’t the day for Bitcoin, at least as it struggled to get above $63k after going below it earlier in the day.
As Bitcoin struggled to get going below its all time high, other cryptos posted stronger performance yet again. Ethereum went above $4.6k to post a new all time high of $4.67k, beating the previous high of around $4.5k by $100. The cryptocurrency is currently red-hot in the market and has broken its all time highs thrice in the last few days alone. Ethereum bulls believe that the digital currency can easily go to as high as $10k at the end of this bull run but only time can tell us what level it will eventually achieve.
At press time, Ethereum is trading right around the newly set highest price index of $4.66k and may post even higher gains later on.
Solana posted another considerable price increase earlier today to record its new all time high above $237. With this move, SOL has moved above Cardano to become the fifth most valuable cryptocurrency in the world. This is quite a rise for Solana as just a few months ago it was worth several times less and ranked below the top 20 cryptocurrencies in the charts. Solana’s rise has also emboldened many other smaller digital currencies and they are expected to make their move forwards as well, dislodging conventional powerhouses.
While Bitcoin’s progress has been slow and contained, other digital currencies are continuing on with their own bull runs. However, the premier digital currency was once again first to post a new all time high and judging by the on-chain analytics, it is only a matter of time before it will recontinue its bull run.
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