Bitcoin has started the day with a positive dynamic. At press time, the largest cryptocurrency by market cap is trading at $9,773.94 (+1.45%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has grown to $217.18 (+4.49%), while XRP has climbed by 0.29% and is now trading at $0.281.
FxPro's team of analysts say:
"After trying to break above $9,700, the crypto fell to $9,500 on Thursday night, and then tried again to exceed $9,800, where Bitcoin has found a strong resistance that has made it lose momentum. We could say bulls have won the battle this morning.
Over the last 24 hours, the reference crypto has grown by more than 1% and is currently trading at around $9,800 and trying to reach the $10,000 mark.
This is the most important psychological and technical barrier for all market participants. Breaking above this level could encourage buyers, making the $10,000 a trigger for FOMO. On the other hand, the greed and fear index has lost 5 points and is now in the 'greed' zone.
Bitcoin will probably consolidate at these levels for some time, however, the time factor plays an essential role: the longer the crypto is growing, the higher the chances of a sale."
According to CoinMarketCap’s ranking, 8 currencies on the top 10 are in green.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $277,439,831,339.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.