New ATH Ethereum, Bitcoin Sideways And Musk Pushes DOGE Higher

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Bitcoin continues to trade within a small range, and is moving only a few percentage points in the past week. Which results in a declining dominance.

Ethereum got a boost from the European Investment Bank using its blockchain (which pushed the price to a new all-time-high) and Elon Musk joked about Dogecoin on SNL, pushing it 20% higher.

European Investment Bank

While more and more media outlets now use the term boring to describe the world’s biggest crypto Bitcoin, others see Ethereum as exciting. This is mostly because the price movement of the second crypto has clearly decoupled from the first in the past few weeks. CEO Vitalik Buterin must have been celebrating when he got an endorsement from the European Investment Bank yesterday (which pushed Ethereum to a new all-time high around $2,700).

It came as Bloomberg admitted that:

The European Investment Bank is issuing 2 year digital bonds on Ethereum through Goldman, Santander, and Societe.

European Investment Bank is issuing 2 year digital bonds on Ethereum through Goldman, Santander, and Societe.

Wow. @GoldmanSachs #Ethereum @RaoulGMI pic.twitter.com/kaQIrZ9C9V

— Michael Tant (@MichaelTant3) April 27, 2021

When even state institutions start using Ethereum’s blockchain, then you know there’s a future for crypto.

Musk on SNL

On Wednesday already, Dogecoin could be seen spiking some 15-20% at a certain point, climbing again above 30 cents. It came after Elon Musk (who else) noted the name of a possible sketch he could play on Saturday Night Live (a possibility we predicted two days ago), the immensely popular show he will host on 8 of May.

Musk simply stated: The Dogefather (in a clear reference to the mafia epos The Godfather) and this term immediately started trending.

The Dogefather
SNL May 8

— Elon Musk (@elonmusk) April 28, 2021

A day later, Doge is still trading upwards 20%, clearly to the annoyance of many technical analysts, like Scott Melker, who now gets asked during each of their charting sessions to provide a prediction for Doge.

:youtube[ol1Hcr3NRBk]

Scott stated:

Doge, I’m not touching Doge because… Doge is not worth 30 cents.

The discussion is around the 26 minute mark. I guess we’ll have to wait until 8 May and Elon’s performance on SNL to see what it is worth.