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Bitcoin has started the day with a negative dynamic. At press time, the largest cryptocurrency by market cap is trading at $9,282.59 $ (-1.08%), according to CoinMarketCap.

For its part, Ethereum has fallen to $188.82 (-0.86%), while XRP has dropped by 0.36% and is now trading at $0.251.

Analysis firms Eurekahedge and HFR have recently reported crypto hedge funds recorded a 16.33% return in 2019, while this figure only reached 10.4% in the case of traditional funds.

FxPro's team of analysts say:

"Bitcoin has lost more than 1% over the past 24 hours and is currently trading at about $9,300. Even though there has not been a trend change yet, the crypto community does not forget the cryptocurrency dropped to $6,000 after failing to exceed the $9,500 level.

The closest checkpoint in the event of a reversal is $8,800.

The greed and fear index is in the 'greed' area, while the Relative Strength Index (RSI) has posted a rather sharp decline, which could indicate the formation of a base for a reversal.

Last week we witnessed a similar situation in which the crypto ended up growing. Now it is worth paying attention to developments in the traditional market and the situation of the coronavirus. Declining fears about the coronavirus as well as the recovery of the traditional markets could negatively affect cryptos."

According to CoinMarketCap’s ranking, 8 currencies on the top 10 are in red.

As for the market cap of all currencies listed in CoinMarketCap, it stays at $259,017,900,659.

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