Bitcoin has started the day with a positive dynamic. At press time, the largest cryptocurrency by market cap is trading at $9,201.05 (+1.28%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has grown to $232.19 (+2.18%), while XRP has climbed by 2.29% and is now trading at $0.18.
FxPro's team of analysts say:
"After briefly falling below $9,000, Bitcoin has once again received the attention of buyers, who have pushed the crypto to $9,100. It must be noted its trading volume has fallen significantly, a trend that has been visible since late May. Thus, the daily trading volume of the largest crypto in the market has fallen from $30B to the current $13B.
The crypto's chances of growing are increasingly remote, while attempts to test the $9,000 level are becoming more frequent. The low interest of investors in the market, the sale of currencies by miners to keep profitability, the increased chances of a second wave of the coronavirus epidemic as well as the uncertain outlook for the stock market could lead to a steady decline in the crypto market.
The greed and fear index remains in the 'fear' area without any substantial change during the past week. The crypto market slowed down in anticipation of increased Bitcoin volatility, however, it is now obvious that uncertainty could lead to an anaemic dynamic in the market for a long time."
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 $264,597,766,444.
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