Money & Markets Bitcoin and Ethereum are hitting record highs Fox Photos/Getty Images) Bitcoin just surged to a new record above $US2,800.It tops the previous high of $US2,799, with the cryptocurrency reaching a peak earlier today of $US2,854.40.A short time ago, Bitcoin was trading at $US2,800.20, a gain of just over 4%.The latest surge shows that speculation in the market shows no signs of abating, after prices for Bitcoin dipped back below $US2,000 at the end of May.Prices for the world’s second largest cryptocurrency ethereum have also ripped higher, a short time ago up more than 5% to $US256.16: There are no obvious reasons for the continuing rally.Instead, the price action has seemingly been driven by renewed interest from speculative buyers this week as the frenzy surrounding cryptocurrencies continues.Business Insider Emails & Alerts Site highlights each day to your inbox.Email Address Join Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.

)submitted by redditor for 2 monthsEthereum continued on surging to score another historical high at $130 earlier today, on Poloniex.Interestingly enough, ethereum’s price has double during the past three weeks, as one ethereum coin was worth around $65 in the beginning of May.I expected ethereum’s price to exceed $100 in 2017, yet I did not ever think that this will happen in the first half of the year.As I mentioned in the “promising cryptocurrencies to buy in 2017” article, even with the recent price surge, ethereum is still undervalued, so even more higher levels will not be surprising for me by the end of the year.If we take a look at the ETHUSD 4 hour chart from Poloniex, we can see how the market has been bullish starting from the end of April.The first price surge started on the 24th of April and took price from $53 all the way up to record a high of $100 on the 5th of May.This was followed by a downwards price correction attempt that pulled price down to around $71 on the 9th of May, before starting a second price surge that has been pushing price to higher levels during the past 10 days.

The bullish wave has been intense during the past 48 hours, as shown by the successive 9 bullish candlesticks forming on the 4 hour ETHUSD chart from Poloniex (look at the below chart), so a new high has been recorded every 4 hours during the past couple of days.bitcoin dpaThe bullish wave, that has been controlling the market since the later parts of April, is characterized by bullish bursts followed by downwards price correction attempts, as shown by the green and red arrows on the above chart.ethereum total valueThe first downwards price correction attempt (the first red arrow) took price down to around 50% of the gains achieved during the first price surge (the first green arrow).sell bitcoin for dogecoinThe second price surge (the second green arrow) was completed by recording today’s high of $130, so a price correction wave is expected to take price down to around $100 during the next few days (i.e.bitcoin to aud 2010

50% of the gains achieved during the second price surge).Ethereum’s price continued on rising today to record another historical high of around $130 on Poloniex.Analysis of the charts shows that a downwards price correction wave is imminent, so we can see ethereum’s price drop down to around $100 during the next few days.ethereum miner statshas surged higher against following the break we posted yesterday.donde comprar bitcoin baratoETHBTC traded as high as .122 in early Asia, before finishing the day and week at .1165; up 17.5% on the day, 20.2% for the week, 153.4% so far in Q2 and a whopping 1297% year to date.bitcoin wallet linuxBreak to new record highs opens up the path to the 0.133three - .14 zone where we have a bunch of interesting measured levels: 0.133three is the point where this latest leg is equal to the last two legs up (see chart), .1398 is the point where the rally from the May lows is double the Initial December - March rally and .1405 is the 200% extension of the recent correction.bitcoin virus australia

We've said this twice already, but it warrants reiteration: we are charting the uncharted here and anything is possible; we could top before that zone, in that zone or shoot straight through.Having said that, we think a repeat of the temporary top --> consolidation --> continuation scenario is most likely.litecoin hardware walletAs such, we'll close most of our margin longs at .133three and prepare to re-enter lower.The great thing about crypto is when you go flat on margin you still have "physical" exposure to extremely volatile assets!Initial support is the former stretching from .1058 to .113, which is currently being re-tested now.Though the hourly chart is looking a little , this is textbook breakout stuff and nothing to worry about at this point in time.Below that initial zone we have another former between .968 and key psychological .1, this was already re-tested and is marked by yesterday's low.Bunch of support below there too and .81 remains key for us longer term.

Related Ideas about ETHBTC about ETHBTC about ETHBTC about ETHBTC about ETHBTC* FM HomeCryptoCurrencyNewsEthereum Mining Rush Leads to Shortage of AMD Graphics Cards Ethereum Mining Rush Leads to Shortage of AMD Graphics Cards The latest rally in Ethereum prices is causing a shortage of high-end graphics cards by Advanced Micro Devices, Inc.(NASDAQ:AMD).The London Summit 2017 is coming, get involved!Ethereum miners are gobbling up every powerful graphics card as soon as it hits the market in order to generate the second biggest cryptocurrency.As a result, it is now impossible for gamers and ordinary PC users to get their hands on any 1080p-capable AMD Radeon graphics cards, this according to a report by PCWorld.Yesterday, Sunday June 4, the ETH/USD exchange rate reached a new all-time high of $250.41, up 2,839% from the $8.52 price per token it had on January 1, 2017.As a result, the total market cap of the entire Ethereum blockchain is now worth over $22 billion – more than 50% that of Bitcoin.As we reported before, the recent cryptocurrency rally is being pushed by new traders mainly from Asia, with exchange rate premiums reported on exchanges in Japan, South Korea, China and India.Advocates give a number of reasons for the recent jumps in the price of Bitcoin, Ethereum and many other altcoins.