Bitcoin has started the day with a positive dynamic. At press time, the largest cryptocurrency by market cap is trading at $8,912.23 (+1.12%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has grown to $203.45 (+0.33%), while XRP has increased by 0.17% and is now trading at $0.194.
FxPro's team of analysts say:
"Bitcoin has dropped to $8,700, where it has received some support. However, it has not yet been enough to push the crypto above $9,000. It must be noted this slight increase has coincided with a significant 12% drop in trading volumes. Therefore, the price recovery has not yet been confirmed by volumes. The greed and fear index has sunk even further into the 'fear' area after losing 11 points from last week. The RSI for the BTC/USD pair also shows a gradual decline towards the middle of the range.
In spite of the fact that the main news about Bitcoin are related to its price and the possible consequences of the halving, The Block has discovered over $200B were transferred through the stablecoin Tether USDT) network in 2019. There is no doubt volumes will grow as demand for fast and cheap transfers keeps rising. Bitcoin developers should develop something like a Bitcoin Stable, as in addition to a stable price, decentralization would be a great advantage."
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 $249,858,098,709.
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