Ethereum hits new all-time high as bitcoin flattens out

Currently at $55K, bitcoin (BTC-USD) has only barely recovered from last weekend's quick tumble in cryptocurrency markets. Ether (ETH-USD), however, has rapidly bounced back, now trading at a new all-time high just shy of $2,600.Exciting Ethereum fans is the upcoming EIP 1559 upgrade. "This feature will reduce the coin supply and have a corresponding effect on the price, creating an attraction point for more buyers," says Zap Protocol's Nick Spanos. Ether, he says, will "become a deflationary asset.""Net issuance will drop substantially," says Messari's Wilson Withum.The scorecard so far in April: Ether is higher by 35% vs. bitcoin's 8% decline.Seeking Alpha contributor Ariel Santos-Alborna has his own thoughts on the coming upgrade.