Bitcoin has started the day with a positive dynamic. At press time, the largest cryptocurrency by market cap is trading at $7,925.6 (+2.13%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has grown to $205.18 (+4.4%), while XRP has jumped by 8.87% and is now trading at $0.215.
FxPro's team of analysts say:
"Bitcoin has added another 1.5% over the past 24 hours to reach $7,900. It must be noted this rise coincides with an increase in trading volumes. The greed and fear index remains in the 'fear' area after losing 1 point during the last day, which reflects the current indecision of market participants.
Bitcoin halving is now the main trigger for the crypto market, and most participants expect it to have a positive impact in prices. However, the situation could also be seen from a different point of view. Some fear the halving has already been taken into account in the price of Bitcoin and that the sharp rise in the price of the reference crypto after the market collapse in mid-March already reflects the highest expectations of investors.
If Bitcoin keeps showing weak growth until the halving takes place, the crypto might collapse shortly before or immediately after the event."
According to CoinMarketCap’s ranking, 9 currencies on the top 10 are in green.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $228,338,428,033.
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