What a weekend for crypto enthusiasts! The Bitcoin price breaks through the $30,000 mark and sets a new all-time high at around $34,400 and there seems to be no end in sight.
But Bitcoin wasn’t the only one to post a strong gain over the weekend. The number 2 cryptocurrency by market capitalisation has just been able to take the $900 mark.
While the cryptocurrency is still some way from its previous all-time high of around $1,300, there is a good chance that ETH will see further upward movement in the coming weeks and months.
Ethereum heading for $1,000
A whole host of well-known analysts are already writing loudly for a close above $1,000 by the end of next week, as trader yTedd depicts in the following tweet.
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However, he is not the only one bullish on ETH. Well-known and also Bitcoin Evolution accurate analyst CryptoBirb has been publishing analysis for months now showing that Ethereum is on track to hit new highs:
By the Way, the trader also suspects a strong rise in Litecoin in the coming weeks (Go to Buy Litecoin with PayPal Guide).
Altcoins know only one direction today
There seems to be only one direction for the crypto market this weekend. Ethereum is up over 20%, while Litecoin is also surging, passing the $150 mark. But the rest of the top 10 coins are also making strong gains, except for Ripple (XRP).
One thing seems clear at the moment: The stronger Bitcoin moves, the more altcoins follow suit. PlanB, the developer of the Bitcoin S2F model released his latest data in a tweet today, as you can see in the tweet below:
In the chart above, you can see BTC’s post-holding performance and it does indeed seem to be the case that the price is moving as it has in recent bull cycles. In doing so, he emphasises that it is possible that we could see a Bitcoin price of $100,000 in the next 3 to 8 months.