Bitcoin Reclaims $20,000, Ethereum Price Soars Above $1.7K

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The crypto market cap is north of $1 trillion once more, as BTC and ETH charted multi-week highs.

Following several days of adverse price movements, bitcoin finally shot up by reclaiming the coveted $20,000.

Most alternative coins are also well in the green, with ETH surging past $1,700 while SOL and DOT have soared by 9% daily.

Bitcoin Goes Above $20K
The past several days were quite brutal for the primary cryptocurrency. It had already lost the coveted $20,000 at the end of August, and the start of the new month brought even more pain.

This culminated on Wednesday when the asset plummeted by $1,500 in hours to a six-week low of $18,500. It managed to defend that level and bounced off to $19,000, as reported yesterday.

BTC didn’t even flinch when the European Central Bank announced the highest interest rate increase in its history (75 basis points) and remained at that level.

However, it went on the offensive hours ago. The bulls drove the cryptocurrency north hard, and bitcoin added over $1,000 to a two-week high of just over $20,700.

Its market cap has neared the $400 billion mark, and its dominance over the altcoins has recovered some ground by surging to 38.5%.

Posted Using LeoFinance Beta



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