Bitcoin has started the day posting gains. At press time, the largest cryptocurrency by market cap is trading at $8,914.26 (+1.08%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has grown to $227.97 (+0.6%), while XRP has jumped by 0.27% and is now trading at $0.237.
FxPro's team of analysts say:
"Bitcoin is trying to grow again and has reached $8,900, where a tug of war between bulls and bears has begun. It must be noted the current price dynamic coincides with relatively stable trading volumes. A drop below the $8,000 mark could trigger a sell-off. Regarding technical analysis, a drop below $8,000 would bring the crypto price below the 50-day average, while the 200-day average was exceeded on February 26.
The Bitcoin dominance index stays at 63.7%, after falling just over 0.5% over the past 7 days, reflecting a slight recovery in interest in altcoins. The fact that investors have not aggressively sold the reference cryptocurrency is good news for the market."
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 $255,458,552,217.
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