Yesterday Bitcoin already updated its all-time high, while Ethereum touched its absolute record today.
Record highs also for the price of Ethereum
Until the day before yesterday, BTC’s all-time high price was around $64,800 on April 14, but yesterday it came close to $67,000, updating the previous record by 3%. The price is now 2.5% lower than yesterday’s high.
ETH, on the other hand, hit its previous high about a month after BTC, on May 12, when it touched $4,300.
Until yesterday, the price of ETH had remained below $4,200, although it had already managed to exceed $4,100, while today in about 5 hours it has risen 6% to exceed $4,360. As a result, Ethereum today updated its all-time high by a very small amount, only 1.6% so far.
It is worth noting that as soon as it touched the new high it began to fall, returning in a very short time below $4,200, but only for a brief moment.
Today there is particular volatility on the price of ETH, as it is fluctuating between $4,100 and $4,400, but volatility on BTC is not at all contained either.
Bitcoin and Ethereum with high volatility
To be fair, there has been volatility on the prices of both cryptocurrencies since early October, particularly upwards.
It is enough to think that Bitcoin started the month below $44,000, and has since gained 47% in just twenty days. Ethereum on the other hand, started the month at around $3,000, so the current $4,200 is a 40% gain.
The fact that BTC has risen more than ETH, proportionally, during these first twenty days of October has meant that its dominance has increased from 41% to 45%, while Ethereum’s has remained fairly stable at around 17%, or just under 18%.
This means that the price trends of the two cryptocurrencies are still very similar, though with very small differences.
At this point, it is not surprising that BTC’s all-time high occurred on October 20, while ETH’s all-time high occurred on October 21.
The growth of BTC and ETH
One of the main differences in these first two decades of October has been the linearity of growth.
On the price of BTC there were only three obvious spikes, although not particularly violent, while on ETH there were always three, but decidedly stronger.
The first occurred at the same time on October 1, with ETH moving first, BTC moving a couple of hours later, and then ETH spiking a half hour later.
BTC’s second spike was on October 6, while ETH’s spike occurred a week later, on October 13.
The third for BTC occurred yesterday, up 5% in about three hours, while today Ethereum spiked +5% in about four hours, though after it had spiked another +7% yesterday.