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Despite the sharp rise in the price of Ether (ETH) in October, investors continue to buy this altcoin, as they are confident that its price will continue to rise in the coming months.
On Tuesday, October 20, the ETH rate strengthened to $ 3850. The cryptocurrency has a good chance of reaching $ 4000 by the end of October.
According to Glassnode, a wide variety of investors are currently accumulating Ether. For example, this week, the number of wallets containing at least one coin reached 1.341 million - a record in the history of digital currency.
A sharp increase in the number of Ethereum addresses with different ETH balances was outlined after the altcoin overcame resistance at the level of $ 3,500.
Researchers note that if earlier, as the cost of Ether increased, investors preferred to drop coins to earn money, now they keep them even against the backdrop of the next race. This strategy eases the pressure on the asset and stimulates its price rise.
Recall in May, the ETH rate exceeded $ 4100. Then the altcoin fell in price, but many experts predict that it will be able to reach $ 5,000 by the end of this year if bitcoin continues to expand and pulls the rest of the cryptocurrencies with it.