Bitcoin has started the day with a positive dynamic. At press time, the largest cryptocurrency by market cap is trading at $6,660.93 (+1.36%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has grown to $138.47 (+1.2%), while XRP has jumped by 1.54% and is now trading at $0.161.
Crypto trading platform Bitfinex has recently launched Shimmer, a tool that has been designed to prevent manipulations in the crypto market. Shimmer allows to identify suspicious transactions on Bitfinex and report them to a specialized team. Bitfinex Technical Director Paolo Ardoino said that several measures will be implemented depending on the severity of the situation. The aim of this new tool is to ensure fairness and security in the market for everyone. Bitfinex claims Shimmer is able to prevent "money laundering" when a user buys and sells an asset in order to cheat the market.
FxPro's team of analysts say:
"The crypto market is still at the levels reached yesterday. Over the past 24 hours, Bitcoin has risen by 3% and is currently trading around $6,700, close to the highs reached last week. Altcoins are seeing similar movements. The reference crypto has not been able to overcome the $6,000 barrier as it is not enjoying the same recovery as the rest of traditional markets.
The Bitcoin dominance index has grown by almost 2 percentage points over the past week to 65.7%. The greed and fear index has jumped by one point in the last 24 hours, remaining in the 'extreme fear' area. According to the creators of this index, this means this is a good time to buy. The RSI is in the neutral area after falling from the over-sold level, which is also a good sign to start buying. The situation surrounding the coronavirus epidemic, the stock market in general as well as central bank incentives will greatly affect the future outlook of Bitcoin and of the whole crypto 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 $185,590,082,223.
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