Bitcoin has started the day posting minor gains. At press time, the largest cryptocurrency by market cap is trading at $10,254.41 (+1.03%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has grown to $346.42 (+0.16%), while XRP has increased by 1.31% and is now trading at $0.240.
FxPro's team of analysts say:
"Bitcoin is cautiously trying to return to growth. The reference crypto has grown by about 1% over the past 24 hours and is currently trading at around $10,300. Even though it is still too early to talk about a rebound from the $10,000 level, the fact the cryptocurrency has managed to stay above this level can be considered good news. The trading volume remains strong, exceeding $34B during the last day.
Both the RSI for the BTC/USD and the greed and fear index have declined rapidly over the past days, paving the way for a market recovery. However, just like when these indices are in the overbought area for a long period of time, the market could remain in the oversold zone for quite a while.
As has happened in previous failed Bitcoin attempts to exceed $12,000, which caused a drop in Bitcoin as well as in the whole crypto market, a drop in the crypto to $9,000 could lead to a sharp decline. Shortly before the fall, the famous trader Peter Brandt closed all his positions in the stock and currency markets, sold his Bitcoins and converted all his assets into dollars. Apparently, he was not the only one who did this."
According to CoinMarketCap’s ranking, 8 currencies on the top 10 are in green.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $331,573,936,118.
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