Market Wrap: Ether Hits New High, Outperforms Bitcoin as Altcoins Rally

Posted on by American Coins & Gold

Market Wrap: Ether Hits New High, Outperforms Bitcoin as Altcoins Rally
Ether, the world’s second-largest cryptocurrency by market capitalization, reached a new all-time price high of around $4,400 on Friday, topping the previous record high of $4,379 in May, according to CoinDesk data.ETH is up about 11% over the past week, compared to a 3% rise in BTC over the same period. Technical charts indicate further upside for ether relative to bitcoin, with an upside target toward 0.08 in the ETH/BTC price ratio as discussed in yesterday’s Market Wrap.Overall, analysts expect further upside for cryptocurrencies for the remainder of the year despite occasional pullbacks, which can lead to choppy trading conditions.“Bitcoin…