The second-largest cryptocurrency by market capitalization, ETH, has made it to a new all-time high price on February 4th by recording 1,688$. Less than 24 hours later, ETH dipped below its all-time price but has returned for a rebound in a matter of hours, collecting 4.5% of gains and going forward to reach another record price. ETH set another new high, going above 1,700$. How far can ETH go and is the 2,000$ mark a realistic goal in the following weeks and months?
Ethereum Records a New All-time High in February 2021
Ethereum is still rising in value at the time of this writing, as ETH is surpassing 1,707$ and reaching 1,711$, which is by far the highest the second-largest crypto ever traded since it was first introduced to the market. Previously, ETH recorded a high of around 1,400$, that way setting up its first record price since January 2018. Moreover, ETH scored a new ATH of 1,688$ on February 4th, followed by a new record price of 1,707$ then 1,711$ on February 5th. ETH is still breaking all previous records, driven by a bull run and a positive momentum. ETH team is preparing for the second stage of the biggest update to the Ethereum network by far, which might be one of the factors driving the price up. At this rate, ETH could easily get to the mark of 2,000$ per one coin in the following weeks.
Ethereum (ETH) Price Analysis February 2021
- ETH is trading at the price of 1,716$ as its highest price by far
- The weekly chart is showing 24% of gains for ETH
- The lowest price for the week is 1,371$
- The highest price for the week is the current ATH of 1,716$
- The yearly chart is showing gains of 774%, making ETH one of the top gaining coins in the market for the year
Image credits: Cover photo taken from Nick Chong on Unsplash
