Seeking Alpha
2021-09-03 13:16:50

Bitcoin finally soars to 3-month high, Ether rallies to $4K

Recently, Ethereum ((ETH-USD +4.4%)) has been on a tear, surging ~130% from its trough in mid-July, but Bitcoin ((BTC-USD +1.4%)) continues to underperform Ether's price growth, climbing a mere ~75% in the same time frame. Ether (ETH-USD) is clearly ahead of the game, rising to 3-month highs on Wednesday, while Bitcoin (BTC-USD) rose to its highest level in three months on Friday. If the price of BTC fully breaks out of strong $50K resistance, there may be a case of 'fear of missing out', or FOMO traders coming back into the crypto market to take advantage of any upside momentum, Forex Trader Christopher Lewis notes in a blog post. Bitcoin's (BTC-USD) network hash rate has also improved from its trough in end-June, standing at 129.2 exahashes per second, which is already up 5 EH/s from the start of the week, implying more upside for BTC if the hash rate continues to climb, Cointelegraph reports. Bitcoin

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