Bitcoin has started the day with a positive dynamic. At press time, the largest cryptocurrency by market cap is trading at $9,227 (+0.84%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has grown to $229.94 (+1.49%), while XRP has jumped by 0.86% and is now trading at $0.177.
Bitcoin mining difficulty was adjusted on June 30, when it fell from 15.7847 T to 15.7842 T, or just 0.0033%. Therefore, the performance of the Bitcoin network during the past two weeks has remained almost unchanged.
Mining difficulty has historically remained constant in the initial stage during the following year after the mining of the Genesis block and started to grow in 2010. The last time the adjustment of the complexity remained almost unchanged was in March 2010. Since then, the change in complexity has not exceeded 0.1% on 8 occasions, including this last one.
FxPro's team of analysts say:
"Bitcoin has increased by 1% over the past day and is currently trading above $9,200. However, this could not be considered as a change in price direction, as even though buyers have tried to push the crypto up to $9,300, it has found strong resistance at this level. The greed and fear index has been frozen in the 'fear' area at around 42 points, very close to last week's values. The RSI is in neutral territory and is waiting for further triggers.
Bitcoin has hardly changed over the past week. It looks like some people do not consider the current levels acceptable for either buying or selling. The only thing worth mentioning are miners, who after the halving have managed to stay in the market, keeping the hashrate and the complexity of the network. It seems they expect the crypto to experience a significant price increase.
The crypto the highest growth in the top 10 is Cardano (ADA), which has jumped by 11% over the last day and 14% over the last week. The technical upgrade of the Shelley network has had a positive effect on it, as it will increase the decentralization and scalability of the project. The process will take several weeks."
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 $263,006,941,275.
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