Ethereum Price Saw A Surge to $1,200 on September 1, as the US Dollar Grew Stronger Following The Latest News. The Bank of Japan (BOJ) has tightened up their control over the yield curve, allowing movements up to 50 basis points (bps) as opposed to 25 bps. Bitcoin also experienced an increase, reaching $17,000.
Bitcoin (BTC) rose to $17,000 on Tuesday in response to the Bank of Japan’s latest financial policy. BTC/USD hit a record high of $16,837.65 in the early hours of the day’s trading, which was about 24 hours after the token had hit its lowest point of $16,398.14.
The move sent the token higher than $16,700 as resistance, and prices rallied to a 4-day high.
Looking at the chart, it is apparent that the rally happened as the 14-day Relative Strength Index (RSI) crossed the 46.00 threshold. At the moment, it is at 46.61, its highest point since last Thursday.
If the bullish trend continues in the index, it is likely that BTC will ascend higher than $17,000 in the upcoming days.
The uptrend of Bitcoin was mirrored in Ethereum (ETH) as it rose again to $1200 on Tuesday. After its low point of $1160.38 on the beginning of the week, ETH/USD reached a peak of $1,214.73 earlier that day.
Even though there was a recent crossover lower between 10-day (red), 25-day, and 25-day (blue) moving averages, this is still happening.