Investing.com - The price of the digital currency bitcoin rose back above the $4,200 level on Wednesday, after falling to its lowest level since August 12 in the prior session.
On the U.S.-based Bitfinex exchange, Bitcoin touched a high of $4,246.4 and was at $4,233.5 by 06:05 a.m. ET (10:05 GMT) having opened at $4,086.9. It fell to a low of $3,600.00 on Tuesday before recovering to close up 1.79% at $4,074.0.
Since setting its most recent all-time high of $4,489.1 on Aug.17, prices have pulled back and at current prices bitcoin has a market cap of about $69 billion.
The pullback has prompted speculation that bitcoin's rally – which saw the digital asset quadruple in value this year – might be reaching its peak.
Meanwhile, the price of the new bitcoin offshoot, Bitcoin Cash was lower. It touched a low of $654.00 and was last at $661.1, having opened at $686.12.
It rose as high as $935.50 on Saturday, the highest level in its three-week history and an increase of almost 400% from its low of $210 on its first day of trading.
The price of the bitcoin alternative rallied after the bitcoin cash blockchain showed it could handle the higher transaction capacity for which it was built.
At current prices, bitcoin cash has a total market capitalization of around $11 billion, making it the third most valuable cryptocurrency.
Elsewhere in cryptocurrency trading, Ethereum, the second biggest cryptocurrency by market cap after bitcoin, was up 2.77% to $323.3, while Ripple added 9.35% to trade at 27 cents.
The price of Ripple is still holding below its all-time high of 33 cents, set on May 24.
Ripple has risen around 60% in the last three days with most of the trading volume – more than $2 billion in the last 24 hours – occurring on exchanges that offer Korean won trading pairs, according to coindesk.com.
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