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Ethereum Hits New ATH, As Altair Upgrade Indicates Clear Path

The price of Ethereum (ETH) hits a new all time high (ATH) of $4,400.97 at around 1:02 am UTC.

Furthermore, ETH is currently at around $4,380, indicating around 46.6% increase since the start of October.
Notably, Coinmarketcap’s price index shows that the previous ATH was only eight days ago at $4,308.48 on Oct. 21.

More so, ETH is on a bullish run since declining to around $1,780 on July 21. So, this shows a 147% increase since then.

Furthermore, The Ethereum 2.0 Altair Beacon Chain update sees a successful start, with 98.7% of nodes upgrades.

Notably, Ethereum success also links to the use in DeFi and nonfungible token (NFT) sectors.

Which of ciurse, shows the growing demand for Ether in the future. Thereby, adding to the bullish outlook in Q4 2021 and possibly into 2022.

“Just so we are clear – I am more than irresponsibly long ETH right now…”
“I now have leverage but via calls. This is by far and away the biggest personal position of my…”
“entire life by a factor of 10 (or more). My view horizon for this part of the trade is 6 to 9 months.”

— Raoul Pal (@RaoulGMI) October 29, 2021

Recall, Since July, Ethereum is undergoing important upgrades like the London Hard Fork. Which of course, brings about deflationary burning mechanism to the asset as part of the network’s fee structure.

Lastly, The overall market sentiment in crypto remains positive even as SEC approves multiple Bitcoin futures ETFs. Of course, to launch on the New York Stock Exchange.

Consequently, Bitcoin hits new all time high prices after the announcements.

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Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.