Ether and bitcoin rallied for a fourth day on Tuesday to record highs off the back of a weaker dollar, an upcoming upgrade and positive investor sentiment.
Ether was up 1.6% in 24 hours, having risen earlier to hit a high of $4,842.54 on Coinbase, while bitcoin was last up 3% after reaching a new peak of almost $68,600. Ether has climbed 9% over the last four days, while bitcoin has risen about 8%.
“Both digital Dutch tulips, bitcoin and ether, have hit record highs this morning as the street continues to buy on a positive technical picture (and) a lower dollar,” Jeffrey Halley senior analyst at OANDA, a research and trading firm, said in a note to clients Tuesday.
The dollar was largely down against major currencies like the Canadian dollar, Japanese yen, pound and euro. A weaker dollar can offer a boost to assets denominated in the US currency, such as crypto, gold or copper, for example.