Ethereum Price Goes Vertical, Hits $150 in 20% Rally: Factors to Watch

Following the lead of the stock market, Bitcoin, Ethereum, and the rest of the cryptocurrency market have been strongly rallying higher over the past few hours. As the majority of this move higher just transpired, analysts are still trying to pick up the pieces of what transpired and what comes next for Ethereum and the rest of the digital asset market.

The strong demand for cryptocurrency can be corroborated by the absolute explosion in the quantity of U.S. dollar stablecoins. As to why this is bullish, Charles Edwards, a digital asset manager, noted earlier this year that “major changes in Tether’s market capitalization have led Bitcoin’s price over the last 1.5 years.”.

Timeline of Bitcoin, Ethereum