This Cryptocurrency Hit a Record High—And It’s Not Bitcoin – Lucinda Shen June 12, 2017


Ethereum reached an all-time high above $400 Monday, continuing a surge in cryptocurrencies in 2017.

The cryptocurrency jumped as high as $415.31 a piece, up about 5,107% since the start of the year. At the same time, bitcoin reached another all-time high over $3,000 over the weekend, over 210% year-to-date. The price of both cryptocurrencies had retreated by early trading Monday.

 Cryptocurrencies have been on a tear in recent months partly thanks to investors seeking a safe haven to park their assets amid geopolitical instability. Meanwhile, some Asian governments, such as that of Japan, have introduced new rules that in part legitimized the asset as a form of payment.

Still, cryptocurrencies are highly volatile, helping fuel the argument that they are in bubble territory.

Article continues:

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s