On Wednesday (September 1), the Ethereum ($ETH) price went back above the $3,750 level for the first time in nearly four months, seemingly in a hurry to set a new all-time high.
According to data by TradingView, on crypto exchange Bitstamp, around 16:43 UTC on September 1, the $ETH price went above $3,700 for the first time since May 16, and it kept climbing until it reached $3,789.86, which is today’s intraday high, three minutes later.
Currently (as of 19:15 UTC on September 1), ETH-USD is trading around $3,712.90, up 8.68% in the past 24-hour period.
In the past one-month and year-to-date (YTD) periods, $ETH is up approximately 42% and 408% respectively.
With Ethereum’s nearly 9% gain vs USD today making it the highest gainer among the top ten cryptoassets by market cap, popular crypto analyst and influencer Heidi Chakos (who is one of the two co-hosts of the “Crypto Tips” YouTube channel), found a cute way to say that she believes $ETH’s bull ran has real staying power.
$ETH is just revving it’s engine. I hope you’ve been Dollar Cost Averaging
— Heidi (@blockchainchick) September 1, 2021
Pseudonymous crypto analyst “Altcoins Sherpa” told his over 121K Twitter followers that he thinks — in the short term — Ethereum rather than Bitcoin is the cryptoasset that is going to lead the whole crypto market higher.
$ETH: I think that #Ethereum pulls the entire market up. The way this bullishly accumulated recently makes me think we see a push up to the 4ks soon. While $BTC always dictates macro altcoin price action, this could be a situation where $ETHUSD is the 1 to watch in the short term pic.twitter.com/35Bep0CGhi
— Altcoin Sherpa (@AltcoinSherpa) September 1, 2021
DISCLAIMER
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
