In the early hours of September 6, the price of the first cryptocurrency reached a local high — at one point the price touched the $51,987 mark on Bitstamp.
The price of the first cryptocurrency briefly breached the $52,000 level. It has retraced to around $51,760 on Bitstamp.
As of writing, the digital gold trades at around $51,786. Market capitalization stands at $972.9 billion, according to CoiGecko.
BTC dominance index stands at 40%, ETH at 19%.
The second-largest cryptocurrency by market cap, after reaching $4000 has corrected — currently it trades around $3,930.
Earlier, Raoul Pal, a former Goldman Sachs executive and macro investor, predicted Ethereum could rise to $20,000. His view is based on a comparison of current charts with those from 2017.
As noted by Yuri Mazur, head of data analysis at CEX.IO Broker, in an interview with ForkLog, the price of the first cryptocurrency is likely to be constrained near the $58,000 level.
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