Ethereum (ETH) rose to his highest race ever yesterday. If you had predicted that in the morning, you would be crazy. But the surprising speech by Jerome Powell, provided for the US Central Bank, has given the Altcoin an unprecedented increase.
New ETH record after 1,381 days
The patience of Ethereum investors has been put to the test, but is now finally rewarded. The old record of the previous bullmarkt officially disappeared from the books after 1,381 days.
It depends a bit on which crypto fair you use, but the previous peak was somewhere around 4,870 dollars, set up on 10 November 2021. Yesterday the course came to a peak of approximately $ 4,890.
In the afternoon, Ethereum was on the market for $ 4,200. That was around 2:30 pm, one and a half hours before Powell entered the stage during an annual symposium for central bankers in Jackson Hole.
Since then, the rate has risen by 16.4 percent. From the moment Powell started talking (16:00) it is an increase of 13.7 percent.
With his opening, Powell immediately made it clear that the cards have come to be otherwise: inflation remains a concern, but the central bank looks at the labor market with increasing concern. A shift that, according to him, can justify a “change in policy”.
With that he will open the door for an interest rate reduction next month and that is exactly what investors, and President Donald Trump, want.
Bitcoin (BTC) rose by about 4.5 percent after the speech, from $ 112,400 to a peak of $ 117,400. In the meantime, the course of the largest crypto is somewhat lower at $ 115,700.
How far will Ethereum rise?
Yesterday was one of the best days of the year for Ethereum. The day ended with a plus of more than 14 percent. Only May 8 knows how to surpass this. Then the rate rose almost 22 percent.
It is difficult to say where the Ethereum course is now going. Tonight it made a dip in any case, so that it has been trading under $ 4,800 for some time now. But of course that is not at all crazy after yesterday’s monster rally.
On the decentralized forecast platform Polymarket, 89 percent think that Ethereum is going to $ 5,000 this year. 54 percent believe in a rate of $ 6,000 and 37 percent think 7,000 dollars is possible.
Source: https://newsbit.nl/ethereum-bereikt-hoogste-koers-ooit-na-bijna-4-jaar/
