Ethereum has hit a new all-time high of nearly $2,000. On the 18th of February, ETH spiked to its most recent high of $1,930. At the time of writing, ETH is up 6.56% to $1.934.60, according to data provided by CoinMarketCap.
Cointelegraph analyst Michael van de Poppe has predicted that the largest altcoin by market value would hit $2.200. Speaking further, the analyst said:
“However, once again, quite a tricky breakout, so you basically have to watch that zone… at $1,820.”
In 2021, ETH has pulled in more gains than Bitcoin. Since the beginning of the year, ETH has increased by 164%, while BTC has gained 85%.
The top crypto asset, Bitcoin, has also hit a record high of over $52,000. However, Van de Poppe said ETH may fall to $1,400 if BTC sees correction from its new high.
The CEO of on-chain analytics service CryptoQuant, Ki Young Ju, noted three consecutive massive outflows of ETH from Coinbase cold wallets in 2020. The CEO revealed that the digital assets were sent to private wallets. He added:
“Speculative guess but those might be OTC deals for institutional investors like $BTC Coinbase outflows.”
Furthermore, Ki suggested that alerts should be set to monitor similar behavior in the future.
Image Credits: Pixabay
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