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


Latest Forex News

Editors’ Picks

EUR/USD pressured below 1.21 amid mixed markets mood

EUR/USD is trading below 1.21, consolidating Friday's losses as the market mood is mixed. Upbeat Chinese GDP and US stimulus are cheering markets while Italy's political crisis and the depressing coronavirus picture is weighing on sentiment. 

EUR/USD News

GBP/USD fails to recover despite accelerated UK vaccine campaign

GBP/USD remains below 1.36, shrugging off the expansion of Britain's vaccination campaign. Post-Brexit talks on financial services continue while tension is mounting ahead of US President-elect Biden's inauguration. 

GBP/USD News

Gold struggles to capitalize on intraday bounce, up little around $1930-32

Gold struggled to capitalize on its goodish intraday bounce of nearly $40 and was last seen trading with modest gains, around the $1830-32 region.

Gold news

Forex Today: Dollar holds onto gains, shrugging off upbeat Chinese GDP, vaccine news eyed

Markets are mixed on "Blue Monday" with the dollar clinging to gains related to risk aversion, while upbeat Chinese growth partially offsets the gloom.Tension is mounting ahead of President-elect Biden's inauguration.

Read more

US Dollar Index clinches new 2021 highs near 91.00

The greenback, when measured by the US Dollar Index (DXY), adds to Friday’s gains and moves closer to the key barrier at 91.00 the figure, or new 2021 highs.

US Dollar Index News

Forex MAJORS

Cryptocurrencies

Signatures