Bitcoin has started the day posting gains. At press time, the largest cryptocurrency by market cap is trading at $6,898.1 (+0.47%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has grown to $159.55 (+1.35%), while XRP has jumped by 0.88% and is now trading at $0.188.
FxPro's team of analysts say:
"Bitcoin has remained at around $6,900 over the past 24 hours with almost no changes. Crypto market participants believe Bitcoin can still try to break through the $7,000 level. However, the longer the crypto remains in a side trend, the greater the chances of bears re-entering the scene.
Altcoins are trying to follow the example of the reference crypto posting slight increases. The total market cap is below $200B with average intraday trading volumes above $100B. When the market peaked at $800B, the daily trading volume was just $46B. This suggests interest in cryptos came from traders and people who use them to transfer capital, and in 2017 this market acted both as an investment (hoping prices would increase) and as a business (mining and fees).
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 $197,208,027,948.
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