Bitcoin has started the day with a positive dynamic. At press time, the largest cryptocurrency by market cap is trading at $9,669.49 (+0.64%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has grown to $260.62 (+0.02%), while XRP has dropped by 0.64% and is now trading at $0.274.
FxPro's team of analysts say:
"Bitcoin has again failed to get above the $10,000 mark. However, bears have not managed to make it fall beyond $9,600. Over the past 24 hours, the crypto has risen by almost 1% and is currently trading at around $9,700. The dominance index, the greed and fear index, and the RSI index remain unchanged in anticipation of new triggers. No one wants to become the one who sold too early or bought at a too high price.
As we approach spring, Bitcoin halving will become more relevant and could increasingly influence the crypto's price. Now there are more and more optimistic forecasts in relation to this event. The fact that Bitcoin grew in the past after previous halvings has led market participants to expect the same this year.
However, this is not guaranteed either. We must remember the crypto market is a free market in which a minority of large investors always try to play against a majority of small investors. While BTC has jumped after halvings in the past, that does not necessarily mean the same thing will happen this time."
According to CoinMarketCap’s ranking, 5 currencies on the top 10 are in green.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $280,517,799,586.
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