Bitcoin has started the day posting minor gains. At press time, the largest cryptocurrency by market cap is trading at $9,292.37 (+1.32%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has grown to $237.58 (+2.76%), while XRP has jumped by 2.77% and is now trading at $0.185.
FxPro's team of analysts say:
"The crypto market is showing a slight growth, although it is more moderate in the case of Bitcoin. Thus, the reference crypto has grown by 2% over the past 24 hours to reach $9,300. All currencies on the top 10 have experienced a 5-21% growth, led by Bitcoin SV.
The growth of the crypto market coincides with a moderate growth in the stock market, which so far has been able to resist bad news related to the worsening of the coronavirus pandemic, the aggressive policies of the central banks and the hopes for growth in the Asian continent. Everything is leading to the rise of gold. However, the situation is increasingly similar to 2008, and hopes for a rapid recovery in China may prove excessive, as the 'global factory' will only be able to rebuild its economy if there is demand from all participants in the chain of production and sales of goods.
As cryptos have started to follow the traditional market, the rise in stocks could help strengthen the prices of digital currencies."
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 $268,828,720,657.
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