The GameStop fiasco did not spark Ether s rally; see the Elliott wave pattern that did.
Cryptocurrencies are well-known as hot-potato markets with volatile price swings. Most investors and traders see cryptos as catch-and-release - vs. - buy-and-hold.
But this chart tells a somewhat different story. It not only shows that the #1 top performing cryptocurrency for 2020 and (so far) 2021 is #2 in line: Ethereum. But it also shows that, after trending sideways from August through October, ETH held and continued to hold the upside in a powerful rally to record highs on February 3.
The clamor to find a reason for Ethereum s surge was short-lived, thanks to the event cited in countless news stories regarding moves in nearly all financial markets so far in 2021: namely, the GameStop fiasco.
The GameStop fiasco did not spark Ether s rally; see the Elliott wave pattern that did.
Cryptocurrencies are well-known as hot-potato markets with volatile price swings. Most investors and traders see cryptos as catch-and-release - vs. - buy-and-hold.
But this chart tells a somewhat different story. It not only shows that the #1 top performing cryptocurrency for 2020 and (so far) 2021 is #2 in line: Ethereum. But it also shows that, after trending sideways from August through October, ETH held and continued to hold the upside in a powerful rally to record highs on February 3.
The clamor to find a reason for Ethereum s surge was short-lived, thanks to the event cited in countless news stories regarding moves in nearly all financial markets so far in 2021: namely, the GameStop fiasco.