Bitcoin has started the week with a negative dynamic. At press time, the largest cryptocurrency by market cap is trading at $8,683.77 (-4.18%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has fallen to $200.87 (-7.14%), while XRP has dropped by 5.06% and is now trading at $0.212.
Bitcoin is trading below $9,000 after posting a sharp 20% increase last week in just one day less than two weeks before its halving.
A short-term support around $8,600 has been formed over the weekend. The trend is in the hands of bulls, especially now the RSI index has fallen out of the overbought area.
The rest of altcoins are following BTC's trend posting similar falls.
Noone can know how BTC price will behave after the crypto's halving, so traders should be prepared with a plan for 2 different scenarios in which the crypto could surge or plummet. Uncertainty can lead to high volatility, which in turn can offer great opportunities for investors.
According to CoinMarketCap’s ranking, 9 currencies on the top 10 are in red.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $241,742,438,242.
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