Bitcoin etherNew all-time highs were reached Monday night.

Bitcoin’s price at one point rose above $67,700 – eclipsing a previous record set in late October – while ether, the native token of ethereum’s blockchain, surpassed $4,800 for the first time ever.

The record-breaking gains come amid a larger rally in the cryptocurrency market. The so-called “ethereum killers” Cardano and Solana are both up 23 percent and 9 percent respectively over the past seven days.

The ProShares Bitcoin Strategy ETFThe ICO, which was launched in October, tracks futures contracts for bitcoin and is based on the price of cryptocurrency. It saw an increase of more than 8 percent Monday.

While it is difficult to link short-term price movements to any specific event – and cryptocurrency price charts are often rife with volatility – some analysts think that both bitcoin and ether will continue to trend upward in the weeks ahead.

In a note sent on Monday, Mikkel Morch, executive director at crypto hedge fund ARK36, said a $70,000 price for bitcoin now “seems imminent.”

Other projections are bolder for bitcoin’s future. JPMorgan doubled its forecast of where it is heading recently. predictionBitcoin would eventually reach $146,000 with a short-term price target at $73,000.

The next update to bitcoin will be released this week.

The software upgrade is known as TaprootThis is a. It will mean greater transaction privacy and efficiency – and crucially, it will unlock the potential for smart contracts, a key feature of its blockchain technology.

The price of ether continues to rise. since it implemented AltairThe network upgrade was completed in October and went live on November 28th.

Altair was largely seen as a non-event to most everyone except validators — that is, the people on the ethereum network who verify transactions. The upgrade was a crucial step towards implementing ethereum2.0 or Eth2, which have been in development for many years. It will completely overhaul the network.

Ethereum 2.0 will see the switch from “proof of work” to the more energy-intensive Ethereum mining system. This requires miners to solve complex math equations in order to create new coins. It is called “proof of stake,” and users just need to use their existing ether to validate transactions or mint new tokens.

Eth2 is a project that aims to increase ethereum’s scalability, security and sustainability. This will have a huge impact on ethereum and the entire cryptocurrency community.