Coinnerd Weekly Wrap: October 30, 2021

Bitcoin stabilizes near the $60,000 this week

The facts

• Bitcoin manages to stabilize near $60,000 after its drop from its all-time high of $66,974
• Bitcoin experienced a sudden drop in value on October 29, 2021, going as low as $57,653 but it quickly stabilized going over the value of $60,000

Why it’s relevant

• With the recent news surrounding Bitcoin a lot of investors are excited and nervous at the same time regarding its value. Considering that it reached an all-time high, people who have invested are hopeful that it will remain near that value or at least stabilize at a reasonable value after a while.

 Ethereum Reaches a New All-Time High This Week at $4400

The facts

• Etheareum’s value has stabilized this week near $4000 and has finally reached its new all-time high of $4400 as of October 29, 2021.
• The value might go higher than $4400 reaching a new value for its all-time high as well. 

Why it’s relevant

• According to a lot of investors, Ethereum has a lot of potential as a cryptocurrency. It’s currently one of the top altcoins when it comes to value. With Ethereum’s value reaching new records it will also attract further opportunities along the way.

Ethereum Outperforms competitors for the past two weeks

The facts

• The second-largest cryptocurrency, Ethereum has shown massive improvements over the past two weeks outperforming other rival cryptos like Cardano and Binance Coin
• Ethereum has shown a significant increase of 10% of its value since October 19, 2021
• Ethereum has shown steady growth for the past couple of months.

Why it’s relevant

• Ethereum is one of the biggest cryptocurrencies asides from Bitcoin. It’s a good investment to make especially if you are looking for a stable digital asset to bet on.
• This further cements the stability of Ethereum making its future even brighter. It could even help sway more people to invest in Ethereum as well.

* We hope this information will help you in your investment process, but this is not investment advice. Every investment carries risk, especially in this industry, so DYOR before making a decision.