Bitcoin has already broken the level of $ 33,000. Ether finally followed. Today, the Ethereum cryptocurrency pays over $ 1,100.
Ether runs after BTC
Ether has been rising on the chart in recent days, but slower than Bitcoin. Today things are different. BTC is cheaper by approx. 2 percent. than yesterday and more expensive by 22 percent. compared to the price of a week ago. In turn, you have to pay as much as 38 percent for ETH. more than a day ago and 56 percent. more than 7 days ago.
Where did this shot at the Ether course come from? The market seems to have recognized that the cryptocurrency is already cheap enough compared to Bitcoin. Additionally, at the beginning of February, futures contracts based on ETH will appear on the CME platform market. This is an important step in the institutional adoption of digital currency.
A new bull market on Bitcoin?
In the background, however, we also see the growing interest in Bitcoin among institutional investors. 2020 was a breakthrough year for cryptocurrency. Not only has BTC strengthened during the coronavirus pandemic (and despite the March crash), it is also getting more expensive and generating new ATH almost overnight. This proves the growing trust it enjoys in the eyes of institutional investors.
This year there was also a boom in BTC among institutions. Many companies have started to invest their reserve funds in cryptocurrencies. It all started with MicroStrategy, but Michael Saylor’s company was followed by giants such as Square, Guggenheim Partners, and Ruffer Investments. PayPal, which introduced crypto services for its clients in the USA, certainly made its contribution.
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