Bitcoin has been enjoying a strong upward move since the beginning of September. Gains accelerated this week after Fed Chair Powell said that the US central bank is evaluating costs and benefits of Fed-backed cryptocurrency. However, Powell said that Fed wants to do it right rather than do it first. Bitcoin is up 7% this week alone and has managed to break above key $12,000. Meanwhile, other cryptocurrencies, like Ethereum, have lagged behind . Will they follow higher after their bigger peer?
Bitcoin soars past $12,000 mark!. Will Ethereum follow? Source: xStation5
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