Ether reaches $500 for the first time since June 2018 and outperforms Bitcoin by 2020

Ether reaches a two and a half year high and follows Bitcoin to note significant levels this week.

Ether (ETH) returned to US$500 for the first time in more than two years on November 20, marking a change in the market for altcoins, which were slowly recovering from poor performance.

Ether records a two-year high of US$500

Data from Cointelegraph Markets, Coin360 and TradingView showed ETH/USD briefly overcoming the psychological barrier in Friday’s trading before a correction interrupted the break.

Although limited to around 6% daily earnings at the time of publication, Ether’s performance delighted traders, who noted that overall in 2020, the largest altcoin outperformed even the Bitcoin (BTC).

The accumulated returns for the year are 284% for Ether and 155% for Bitcoin.

In contrast to the fall in its prices in mid-March, just after the coronavirus-induced cross-asset drop, Bitcoin is still the strongest player. At the time, the ETH/USD was trading at only $117, causing Friday’s levels to rise 327%, while the BTC/USD gained 411% from $3,600 to $18,420.

Along with the $500 visit – Ether’s first since June 2018 – other important altcoins also showed signs of life, notably Litecoin (LTC), which with gains of 12% overtook Bitcoin on the day, and is the only major altcoin to overtake BTC last month – by 7%.

Previously, Cointelegraph Markets analyst Michaël van de Poppe argued that a new „altseason“ would have to wait, but that a realistic top for Ether’s next bullish run could reach $20,000.

In an interview with Van de Poppe for the Cointelegraph, however, Nugget’s News CEO Alex Saunders predicted that the ETH/USD would surpass its current record of $1,400 by the end of 2021.

Bitcoin again challenges $18,420

Meanwhile, Bitcoin held most of the attention on Friday, earning $18,000 and continuing to meet resistance at its previous top of $18,420 earlier in the week.

The anticipation of further gains remains strong, with highs of $20,000 in 2017, forming the only major resistance level higher on the chart.

A correction, possibly to levels as low as $11,600, is yet to occur, with $17,200 now serving as firm support for the bulls.

Ultra (UOS) platform integrates Theta Network for live streaming

The Ultra (UOS) video game distribution platform collaborates with Theta Network, a video streaming platform. Both blockchain-based, Ultra and Theta Network’s technologies will interact with each other in many ways.

The close collaboration of Ultra and Theta

According to Ultra’s press release , the Theta network and its contents will be an integral part of the Ultra user experience. The specific ecosystems of the two Bitcoin Code platform and especially their users will fully benefit from the collaboration.

Ultra users will have the opportunity to earn TFUEL and UOS tokens by relaying the streams they watch. These tokens can then be used to buy video games and non-fungible tokens (NFTs) on the Ultra platform.

Theta is the first external application to integrate into the Ultra ecosystem. For example, content distributors on Theta will have the opportunity to promote Ultra’s NFTs such as games, DLCs, digital items and even online tournament admission tickets.

“ In our quest to deliver a full gaming experience, we are pleased to announce that Theta is the launch partner of the Ultra entertainment platform, allowing our users to access Theta to stream and watch live streams directly. from Ultra, ” said Nicolas Gilot, co-CEO of Ultra.

The collaboration therefore spans many areas, including the use of the Theta protocol to complement Ultra’s game distribution technology and the promotion of its games.

Millions of potential users for its launch

Thanks to Theta, Ultra users will be able to interact seamlessly with streamers, which will create a more engaging user experience than usual:

„Our main goal for 2020 is to continue to drive Theta adoption, and working with the Ultra platform allows us to expand the Theta network to whole new audiences around the world through their partnership with Ubisoft and AMD.“ , added Mitch Liu, CEO of Theta Labs.

As part of its launch later this year, Ultra will host exclusive esports tournaments that will be streamed on the Theta network.

At the time of this writing, the Theta community already consists of several million users , all of whom will be likely to use Ultra upon launch.

In addition to Theta, the Ultra platform has since the start of its activities supported by the giants Ubisoft and AMD . The French startup based in Paris certainly has other good surprises in store for us before the end of the year.

Before a public launch in the coming months and its many leading partners, the Ultra platform is already shaping up to be an outsider ready to compete with the biggest in its sector.

La historia sugiere que Bitcoin podría ver pronto un rápido ascenso a nuevos máximos históricos

Todo el mercado de la criptodivisa – incluyendo Bitcoin – está siendo testigo de una ligera presión a la baja que ha ralentizado el ascenso de BTC
La criptografía de referencia se enfrenta a lo que parece ser una resistencia insuperable de 12.000 dólares.
Cada intento que los toros han hecho para superar este nivel ha resultado en firmes rechazos que hacen que su precio baje hacia la región de los 11.000 dólares.
A pesar de mostrar algunos signos de debilidad, la criptocurrencia sigue estando bien posicionada para ver más alzas a corto plazo – según un analista
La BTC está formando actualmente una estructura de mercado similar a la que se vio antes de que se iniciara su último repunte parabólico a los máximos de todos los tiempos

Bitcoin y el mercado de la criptodivisa agregada se encuentran actualmente en una firme fase de consolidación.

A excepción de muchas monedas alternativas de pequeña y mediana capitalización, la mayoría de los principales activos digitales no han podido ganar ningún impulso fuerte al consolidarse por debajo de una fuerte resistencia.

Ayer parecía que tanto el BTC como el ETH iban a intentar destrozar sus niveles de resistencia a corto plazo, pero esto provocó un firme rechazo que dio lugar a una tendencia a la baja a corto plazo.

A pesar de esta turbulencia actual, una comparación de la estructura del macromercado existente de Bitcoin con la que se ve en la criptodependencia justo antes de la ejecución parabólica en 2017 muestra sorprendentes similitudes.

Esto puede significar que la cripto-moneda está a punto de entrar en una tendencia alcista en toda regla.
Bitcoin muestra similitudes con la estructura de mercado anterior a 2017

En el momento de escribir este artículo, Bitcoin está bajando un poco menos del 2% a su precio actual de 11.700 dólares.

Después de empujar hacia los 12.000 dólares ayer, el activo digital de referencia se enfrentó a un influjo de presión de venta que finalmente lo llevó a unos mínimos de 11.600 dólares.

Esto demuestra que el nivel de 12.000 dólares sigue siendo insuperable, y es probable que se requiera una afluencia masiva de presión de compra para que se rompa.

Una tendencia que augura un buen futuro para Bitcoin a corto plazo son las sorprendentes similitudes entre su estructura de mercado actual y la que se observa antes del rally de 2017.

Mientras hablaba de esto, un popular analista de criptodivisa también ofreció un gráfico que muestra las similitudes mencionadas anteriormente.

„La misma distancia de lo que fue el último ATH. Casi el porcentaje exacto de distancia de ese ATH.“

Esto es lo que significa para la próxima tendencia del BTC

De acuerdo con este patrón, el próximo viaje de Bitcoin hasta sus máximos históricos tendría lugar hacia finales de diciembre o durante la primera semana de enero.