Ethereum‘s (ETH) price recently reached new all-time highs following a strong October

<p>Concerns about inflation are prompting an increase in investor interest in cryptos...</p> <p>CoinMarketCap data indicates that one Ether was trading for US$4,665 eight hours ago at the time of press.</p> <p>This is a new record high, surpassing the previous one set on 11 May of this year. And it boosts the market capitalisation of the world's second largest cryptocurrency to US$540.5 billion.</p> <p>Ethereum's price has retraced 2% since reaching a new highwater mark, and is now trading at US$4,570.</p> <p>What about the record low?</p> <p>While we're on the subject of records, if you're curious about when the Ethereum price reached its all-time low, it was six years ago. On October 21, less than three months after launching its blockchain, Ether hit an all-time low of 42 US cents.</p> <p>If you had purchased some tokens at that price, you would now have a virtual gain of 1,086,252 percent. Naturally, you'd have to endure 72 months of wild price volatility to get there.</p> <p>Why did Ethereum's price soar in October?</p> <p>Today's record high Ethereum price follows a month-over-month gain of more than 40%.</p> <p>Ether began October trading at a price of US$2,995 and ended the month at a price of US$4,431.</p> <p>One of the tailwinds that has aided in the ascension of Ether is the strong performance of the world's largest cryptocurrency, Bitcoin (BTC). When Bitcoin increases or decreases in value, a large number of altcoins typically follow suit.</p> <p>Additionally, Bitcoin experienced stellar gains in October, finishing the month up 41%. Some of the bullish price movements were fueled by investor excitement over the first US-listed Bitcoin exchange-traded fund based on futures (ETF). Since its launch on 19 October, the ProShares Bitcoin Strategy ETF (BITO) has seen near-record inflows.</p> <p>Many analysts and investors speculate that an Ethereum ETF is imminent, based on the success of the Bitcoin ETF. Which may also be contributing to the resurgent animal spirits' quest for the token.</p> <p