Bullish volatility is on the rise and the newfound bullish momentum saw multiple tokens breakout to fresh all-time highs as traders scramble to identify which money might be the next to commence on a moon mission.

As the toll of Bitcoin (BTC) rallied to $64,000, Ether (ETH) reached a new record high at $four,523. The move comes just days after the successful Altair upgrade to the Ethereum network, which was the offset update to the Buoy concatenation, bringing the network closer to the full rollout of Eth2.

Data from Cointelegraph Markets Pro and TradingView shows that later hitting a low of $4,283 in the early on morning hours on Nov. 2, bulls took command of the toll action and lifted the cost of Ether to a new all-time high at $four,523.

ETH/USDT 1-twenty-four hour period chart. Source: TradingView

If Ether can maintain its current trajectory, it is on course to see its eighth consecutive positive quarter of positive gains, every bit highlighted by a tweet from Coinbase International.

History does not repeat itself, simply it rhymes

Equally shown in the charts, an interesting comparison between the price action for Ether in 2022 and the electric current price activeness was spotted by pseudonymous Twitter user 'itwasntme'.

The landscape of the cryptocurrency ecosystem has changed quite a bit since the 2022 bull market due, in role, to the arrival of a larger cohort of institutional investors with bigger bankrolls to spend, just this is one development to keep an eye on as the market looks to terminate out 2022 stiff.

Ether'south upwards trajectory also comes as the number of tokens locked in the Eth2 staking contract surpassed 8 meg for the first time, a procedure that continues to drain the available circulating supply and places positive pressure on the price.

Cumulative Ether sent to the Eth2 staking contract. Source: Coin Metrics

Overall, the consensus outlook for Ether is bullish with numerous analysts calling for a $10,000 token by the end of 2022.

Related: Bitcoin price consolidation 'could be over,' says trader every bit Ethereum, Polkadot striking all-time highs

Bitcoin climbs back above $64,000

At present that the BTC price has broken out off its calendar week-long downtrend, bulls are conspicuously looking to recapture the previous all-time loftier at $67,000.

BTC/USDT 4-hr nautical chart. Source: TradingView

The bullish motility in BTC is mostly the result of the traders' conviction in the market strengthening every bit historical data shows the calendar month of Nov and December to exist high performing periods for Bitcoin price.

The overall cryptocurrency market cap now stands at $2.736 trillion and Bitcoin'due south authorization charge per unit is 44.1%.

The views and opinions expressed hither are solely those of the author and do non necessarily reflect the views of Cointelegraph.com. Every investment and trading movement involves gamble, you should conduct your own inquiry when making a conclusion.