Bitcoin has started the day posting losses. At press time, the largest cryptocurrency by market cap is trading at $6,683.26 (-3.1%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has fallen to $155.09 (-2.97%), while XRP has dropped by 3.69% and is now trading at $0.181.
FxPro's team of analysts say:
"Bitcoin keeps falling. Over the past 24 hours, the largest crypto in the market has lost more than 4% of its value and is currently trading at around $6,600. On the other hand, altcoins on the top 10 are following the same trend with losses of 4-6%. The total capitalization of the crypto market has lost $10B in a single day. The Bitcoin greed and fear index has reacted quickly to the market situation with a decrease of 5 points, which has placed it below the 'extreme fear' area.
Judging by the index, each new day offers investors the opportunity to invest in Bitcoin, although it looks like no one is taking advantage of this opportunity. Most likely, the majority of interested parties invested in Bitcoin and other altcoins when the market collapsed in March.
In the medium term, market participants will expect favorable conditions to drive the growth of digital currencies, and given the low price at which investors bought the BTC in mid-March, the crypto's price is unlikely to rise significantly above $10,000."
All currencies on the top 10 are in red.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $191,177,132,416.
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