The week behind is all about breaking records in cryptos’ world. Bitcoin neared its all-time high of $61,712 early Saturday while Ether set a new all-time high at $2,190. At the time of writing this post, the price of the largest altcoin by market cap is $2,159.
Slow Moving Ether Price Following Bitcoin
Regardless of the fact that Ethereum compared with Bitcoin has a small growth, the last few days it finally managed to break its previous highs. The new hit of all-time highs comes less than a week after this crypto broke its previous high.
Ethereum has seen similar price movements in recent months to that of a Bitcoin. The major altcoin has appeared to move in unison with Bitcoin. However, the correlation between Bitcoin and Ethereum has seen Ether price action mimic that of Bitcoin.
Bitcoin recently managed to flip the $60,000 resistance, climbing nearly 7% in the process. Ethereum appears to have also moved approximately 7% on Saturday as it reached $2,200, according to Yahoo Finance.
Big News Boosting Ether Price
Experts thought that Ether has been boosted by the recent news that Visa is using the network. Namely, Visa has begun setting transactions on its own network through Ethereum-backed USD Coin. The news has seen an increase in popularity in Ether price as global utilization starts becoming evident, as Be In Crypto wrote earlier.
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