Ether hits $ 500 for the first time since June 2018, outperforming Bitcoin YTD


Ether (ETH) bounced back to $ 500 for the first time in more than two years on November 20, as altcoins slowly made a comeback due to poor performance.

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The price of ether is $ 500 after more than two years

Data from Cointelegraph Markets, Coin360 and TradingView showed ETH / USD briefly hit the psychologically significant barrier in trading on Friday before a rejection stopped progress.

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Although Ether’s performance was capped at around 6% per day at press time, the performance wowed traders, who found that the largest altcoin even outperformed Bitcoin (BTC) in 2020.

The year-to-date returns are 284% for Ether and 155% for Bitcoin.

Compared to the lows in mid-March, shortly after the coronavirus-induced cross-asset crash, Bitcoin was still the strongest player. At the time, ETH / USD was trading at just $ 117, up 327% on Friday, while BTC / USD was up 411% from $ 3,600 to $ 18,420.

Bitcoin vs. Ether price since the beginning of the year. Source: Digital Assets Data

In addition to the $ 500 visit – Ether’s first since June 2018 – other major altcoins also showed signs of life, particularly Litecoin (LTC), which outperformed Bitcoin by day by 12% and was the only major altcoin to surpass BTC in the past month – at 7%.

Earlier, Cointelegraph Markets analyst Michaël van de Poppe had argued that a new “old season” would have to wait, but that a realistic peak for the next bull run of Ether could be as high as $ 20,000.