Bitcoin has started the day with a positive dynamic. At press time, the largest cryptocurrency by market cap is trading at $9,113.9 (+2.2%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has grown to $236.38 (+3.39%), while XRP has climbed by 1.94% and is now trading at $0.242.
FxPro's team of analysts say:
"Bitcoin has returned to growth. Yesterday, the reference cryptocurrency not only managed to overcome the $9,000 psychological barrier, but has also found support at a slightly higher level ($9,100). Bear attacks have been unsuccessful, and the BTC/USD is now trading at around $9,100. This growth coincides with an 8% increase in trading volumes, which is a good sign. In addition, BTC price has returned to the 200-day average. On the other hand, the greed and fear index is at the 'fear' level after losing three points over the last 24 hours.
During the last seven days, the total market cap has posted a $10B increase. Since the situation with the coronavirus is still far from being resolved, shares in the traditional market keep falling. Meanwhile, cryptos are showing a relative stability. Just like other risky assets, they were affected by the news of the epidemic at first, however, it looks like digital currencies are showing some immunity to the situation."
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 $262,023,730,234.
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