Beach Linked Bitcoin Price Opens Door For Altcoin Rise By Cointelegraph

Beach Linked Bitcoin Price Opens Door For Altcoin Rise

Ether (ETH) took control at the start of a new month and the second largest cryptocurrency by market cap hit a new all-time high at $ 3,338. This has led many analysts to shout that a new ‘altcoin season’ has started. Meanwhile, (BTC) continues to meet resistance around the $ 56,000 to $ 58,000 level.

Data Cointelegraph Markets and TradingView shows that since falling to $ 2,160 on April 25, the price of ether has risen 54% to a new high of $ 3,324 on May 3 as Monday’s 12% peak lifted the top altcoin above the $ 3,300 level for the first time in history.

ETH / USDT 4 hour chart. Source: TradingView
HODL waves. Source: Glassnode
Ethereum supply in smart contracts vs equilibrium on exchanges Source: Glassnode
Daily performance of the cryptocurrency market. Source: Room360