This morning the CTO of Bitfinex, Paolo Ardoino, anticipated the rise in the price of Ethereum above $460.
Indeed, about 40 minutes before the price rose around that figure, he posted a tweet with which he shared a screenshot of the exchange’s ETH/USD buy wall.
— Paolo Ardoino (@paoloardoino) September 1, 2020
This screenshot revealed that there were ETH purchase orders placed on Bitfinex at a price between $457 and $458, for a total of more than 7,000 ETH, or well over $3 million.
In other words, there were several users, with a high amount of US dollars, ready to buy ETH at a price close to $460.
Until the day before yesterday, the price of ETH fluctuated more or less around $400, but by the late evening of August 30th, it had already risen above $420.
Yesterday then ETH had risen above the price of $430, but this morning, thanks to the powerful volume of purchases, it rose above the price of $460. The price rose by 15% in just under 48 hours.
A year ago the price of Ether was less than 180$, so in the last months, it has risen by 155%. In fact, considering that at the beginning of 2020 it had fallen to $130, in a year the gain was about 234%.
In particular, after recovering the $160 threshold at the beginning of April, it ended up exceeding $200 at the end of April and then rising to $240 at the beginning of June.
The real boom, however, was from the end of July, when the price climbed first to $320, and then to $400 at the beginning of August.
It should be remembered, however, that it is still very far from the historic high of $1,448 recorded on January 3rd, 2018, but at the beginning of December 2017, just before the speculative bubble that brought it to an all-time high, the price was around $460.
As a result, for the time being, it has recovered the levels it had reached before the last big speculative bubble was triggered, which in less than a month brought it to an all-time high.