If you’re monitoring Ethereum price, notice the spike up and down, but just within a couple days the price of ETH sky rocketed and no, it’s not the help of Bitcoin. This time Ethereum did it by itself due to positive news.
A few positive news for Ethereum boosting its price tied to some exchange in China adding Ethereum to its exchange, although there are some exchange already had done that, just not the major big exchange in China. Another positive news is “China’s Interest and Investment in Ethereum’s Blockchain Expands” and one more is “Energy Sector Turns to Ethereum to Test Blockchain”
Still the majority of the ETH exchange occurred in China. Look like China is not moving toward world largest economy but also Cryptos Currencies users, for now at least trading and investing. However the Chinese government can intervene and might have negative impact. In the US many times the US government hurt bitcoin by auctioning its confiscated Bitcoin for like $300 a coin, whoever bought that must be rich by now if he/she kept it. Australia also had similar auction. However it appears that US and other nations no longer have any confiscated Bitcoin to auction.