Bitcoin has started the day with a negative dynamic. At press time, the largest cryptocurrency by market cap is trading at $9,120.96 (-0.55%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has fallen to $233.28 (-1.02%), while XRP has dropped by 0.77% and is now trading at $0.192.
FxPro's team of analysts say:
"Bitcoin price has shown little change over the week, stabilizing this morning at around $9,100. The total market cap of the crypto market has remained unchanged during the week at around $269B. The sideways trend in which the cryptocurrency is immersed has been going on for a long time, and the main news in the crypto market is not related to cryptos themselves, but to the hacking of a large number of celebrities and companies on Twitter.
While Twitter stocks have started to fall, every time Bitcoin and other digital currencies are attacked, the outlook for the whole industry is affected. It has been a while since attacks on major exchanges have resulted in the theft of billions of dollars. However, this is not because the exchanges' protection is impenetrable, but rather because they no longer have funds stored in 'hot wallets.'
The crypto market needs a boost from retail investors to grow again."
According to CoinMarketCap’s ranking, 8 currencies on the top 10 are in red.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $269,559,562,145.
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