Main page News, Bitcoin

Bitcoin has started the day posting minor gains. At press time, the largest cryptocurrency by market cap is trading at $9,654.38 (+1.4%), according to CoinMarketCap.

Chart of the USD/BTC trading pair from EXANTE

For its part, Ethereum has grown to $243.93 (+2.86%), while XRP has jumped by 0.98% and is now trading at $0.205.

FxPro's team of analysts say:

"Bitcoin has rapidly found support after trying to break above $10,000 earlier this week. This round price is considered special in the crypto world. Bears believe the $10,000 barrier may be the maximum ceiling for Bitcoin, so we should forget about $20,000 and beyond. On the other hand, crypto enthusiasts say $10,000 is a starting point and that exceeding this level would lead to a new wave of purchases boosted by the FOMO.

The price of the crypto has grown by about 2% over the past day and is currently at around $9,700, however, the trading volume has fallen by more than 29%. During the last week, the reference crypto has posted an increase of 6%. The Bitcoin dominance index is gradually decreasing and currently stays at 64,7%, which is a good sign for the market in general, as it reflects an increase in interest in other currencies.

A recalculation of the complexity of the network is expected today, as miners expect a decrease of more than 10%. This is a natural process after the reduction of the reward by half on May 11. The sooner more miners leave the market, the more efficient the work for the remaining participants and the more stable the network as a whole will be."

According to CoinMarketCap’s ranking, all currencies on the top 10 are in green.

As for the market cap of all currencies listed in CoinMarketCap, it stays at $274,766,526,239.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

Read also:
Please describe the error