USD/CHF and EUR/CHF rose to tactical highs. What's next?
Ethereum reached a record high of $1 563
Ethereum has reached a new all-time high of $1 563 on Wednesday, according to CoinDesk. The altcoin rose in value by 16 times since March 2020.
What does it mean for traders?
The world’s second-largest cryptocurrency, which has a market cap of $160 billion, has gained 111% since the start of 2021, outpacing bitcoin’s 24% rise. However, experts see further growth potential. Galaxy Trading expects the price to trade as high as $3,000 in the next few weeks. According to Fundstrat Global Advisors, Ethereum may rise to $10 500. Among the factors positive for the ETH, analysts cited the development of the decentralized finance (commonly referred to as DeFi) and the major upgrade of the cryptocurrency’s network.
You can trade ETH and other cryptocurrencies in the FBS Trader app.
Don't know how to trade cryptocurrencies? Here are some simple steps.
Eurozone, France, and Germany will publish the flash services and manufacturing PMIs on February 19, from 10:15 to 11:00 MT time
Australia will publish the employment change and unemployment rate on February 18, at 02:30 MT time.
The giant chip maker exceeded analysts’ expectations. Even with a global GPU shortage!
OPEC will hold a meeting on March 4, where it should announce its decision on further oil output.
The risk-on is back on the market as investors focus on the projections for a stronger-than-expected economic rebound and the Fed’s pledge to prolong support for the rest of the year.