Ethereum and Dogecoin Prices Rise as Bitcoin Has Another Close Call at $100,000

Bitcoin took another step toward the long-awaited $100,000 milestone, reaching above the $99,000 mark on Wednesday afternoon — bringing Ethereum, Dogecoin and other top assets along for the ride.

However, the leading cryptocurrency didn’t quite hit the mark, with Bitcoin peaking at $99,329 so far on Wednesday at 4 p.m. ET. It is the highest price since November 22, when BTC set its current record high of $99,645.

Momentum quickly cooled, with Bitcoin plunging to a current price of $98,100 as of this writing. It’s unclear what led to the surge, although BTC had traded at $95,000 shortly after 10 p.m. 12 ET and steadily climbed over the next few hours.

The rise appeared to accelerate after comments on New York Times DealBook Summit from Federal Reserve Chairman Jerome Powell, who said that Bitcoin is competitive with gold rather than the US dollar.

But while Bitcoin was on the rise, other major assets followed suit. Ethereum rose to a six-month high of $3,892, the first time the price had risen that high since late May. It’s now down to $3,854, but still up nearly 7% on the day.

Dogecoin, meanwhile, jumped to $0.433 for the first time since Monday, but has also corrected slightly, down to $0.422 as of this writing. It has risen 3% on the day.

Wednesday’s biggest gainers in the top 100 cryptocurrencies by market cap at the time of writing are metaverse gaming token The Sandbox (SAND), which is up 27%; Ethereum scaling network Mantle (MNT), which rose 21%; and gaming token Gala (GALA) with a 20% increase.