Ethereum Price Goes Above $3700, Analyst Says $ETH “Is Just Revving Its Engine”

[RSRS]

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.


One-Day ETH-USD Price Chart (Bitstamp) by TradingView
In the past one-month and year-to-date (YTD) periods, $ETH is up approximately 42% and 408% respectively.


Year-To-Date ETH-USD Price Chart (Bitstamp) by TradingView
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.

Source

[Fenix]

Let's hope that the ethereum price is really only gaining momentum for further growth. Looking at the current price of this coin compared to bitcoin, the price of bitcoin is $ 49,307. Over the week, it increased by 4.8 percent. At the same time, ethereum's price climbed to $ 3,782, including more than 21 percent in the last week. Moreover, if the price of bitcoin even falls a little, then ethereum still continues to grow.
While the current unprecedented upgrade of the Ethereum network has seen some minor bugs, it is generally successful. Already burned about half a billion ethereum, which is received as transaction fees. This makes ethereum deflationary.