Crypto Today: Ether at record highs above $450, bitcoin steady around $8000


  • Ether up more than $100 on the week.
  • Bitcoin remains quiet above $8000.
  • Total market cap continues to edge higher.

Ether, the ethereum blockchain's digital currency, gathered strength on Friday with the ETH/USD pair touching an all-time high at $460. Recent comments from a respected investor seem to be the primary catalyst behind today's upsurge. Michael Edward "Mike" Novogratz, former hedge fund manager of the investment firm Fortress Investment Group, forecasted ether to rise to $500 by the end of the year. Earlier this week, Novogratz said that bitcoin could rise to $10000 in 2017.

On the other hand, bitcoin continues to have a difficult time finding its next short-term direction. Following its record-setting rally earlier this week, the BTC/USD pair lost its momentum and has been moving sideways above the $8000 mark. At the moment, the pair is at $8150, up 2% on the day. Meanwhile, yesterday's biggest mover, bitcoin cash, is moving in a tight range on Friday, consolidating Thursday's gains, which at one point was more than 20% on a daily basis. The BCH/USD is now at $1655, up $12 on the day.

The total market capitalization of all digital currencies increased to $260 billion on Friday. Although bitcoin remains as the most dominant cryptocurrency, its volume eased to 52% from 60% earlier this week. Ether's volume is at 16.2% while bitcoin cash is at 10.2%.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD rebounds after dismal US PMIs

EUR/USD is trading closer to 1.0850, rising in response to weak US PMIs, with the services one pointing to contraction. Earlier, German Manufacturing PMI beat estimates. 

EUR/USD News

GBP/USD advances to 1.2950 after US data

GBP/USD is trading around 1.2950, taking advantage of US weakness stemming from a downfall in Markit's Services PMI in the US. In Britain, the Manufacturing PMI exceeded estimates. 

GBP/USD News

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Consolidation process underway

The Crypto board continues to be immersed in an emotional leg-breaking, consistently punishing the emotional state of the traders with its continuous changes of direction.

Read more

XAU/USD unstoppable, breaks to fresh 2020 highs, approaching $1650/oz

XAU/USD is trading in an uptrend above its main daily simple moving averages (SMAs) while breaking above a bull channel. Gold is printing fresh 2020 highs hitting $1646.64 per ounce on an intraday basis.  

Gold News

FXStreet launches Real-Time Trading Signals

FXStreet Signals offers access to explanatory live webinars, real-time notifications when signals are triggered and exclusive membership to the company’s Telegram group, where users get direct guidance by our analysts and get room to discuss and interact.

More info

Forex MAJORS

Cryptocurrencies

Signatures