Bitcoin (BTC) Breaks $64k, Will Ethereum (ETH) and Litecoin (LTC) Follow?

Bitcoin is rocking the crypto world as its price has passed $64k and appears to be still plowing on. This could potentially have a knock-on effect for major altcoins like Ethereum and Litecoin, while other projects like Rollblock appear to be consistently improving as the market continues to fluctuate.

Bitcoin’s price has passed the $64k mark and shows no sign of slowing down. This could have a knock-on effect for major altcoins like Ethereum and Litecoin.

While Ethereum is experiencing steady growth, investors are still waiting for the positive Litecoin reaction.

Fresh from the US Election results, Bitcoin and Ethereum are experiencing steady growth. Over the last 24 hours, Ethereum has increased by 2.97%, taking Ethereum’s price to $2539.00. However, sentiment is bearish despite the Bitcoin action, with Ethereum’s daily trading volume seeing a decline over the past month.

Can Litecoin Benefit from the $64k Bitcoin Peak?

While Ethereum appears to be gaining momentum from the $64,000 Bitcoin high, investors are still waiting for the positive Litecoin reaction. In the last month, the Litecoin price has stagnated around $65.90. In fact, Litecoin dropped by 0.07% in October, causing many long-term investors to sell their holdings. Nonetheless, analysts hope that the Bitcoin boost will trickle down to Litecoin in the coming weeks.

As anticipation around the US Election grows, so too does interest in cryptocurrencies. Both candidates have expressed support for the industry, and this is expected to continue driving up the price of Bitcoin and other major coins. However, some analysts believe that the recent rally is unsustainable and that we could see a correction in the coming months.

Despite the varying opinions on the short-term outlook, there is no doubt that the US Election has been a positive factor for Ethereum. The world’s second-largest cryptocurrency has seen its price increase by over 200% since the beginning of the year. This is largely due to the increasing demand for DeFi tokens, which are typically built on the Ethereum blockchain.

As the US Election dust settles and we move into 2021, it will be interesting to see how the cryptocurrency market continues to react.

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