Bitcoin has started the week posting minor gains. At press time, the largest cryptocurrency by market cap is trading at $10,682.88 (+0.55%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has grown to $351.86 (+0.57%), while XRP has increased by 6.11% and is now trading at $0.248.
FxPro's team of analysts say:
"Bitcoin has not only managed to keep its price, but has also posted a slight growth. Over the past 24 hours, the reference crypto has increased by 1% and is currently trading at around $10,700. It must be noted the trading volume of the currency has risen by 22% to $72B. As a comparison, when Bitcoin hit its ATH ($20,000) back in December 2017, the trading volume remained around $20B. However, almost all of this volume was related to purchases, and there were no institutions in the market, whereas the current situation is quite different.
Apparently, one of the most potentially negative scenarios following the CFTC's lawsuit against the crypto exchange BitMEX has not materialized. Although 45,000 BTCs have been withdrawn from the platform since the news was released, these currencies have simply been moved to other exchanges. The main concerns were related to the possible freeze of the investors' assets on the exchange. Other major exchanges, including Gemini and Binance, have benefited from the situation. The fact that Trump has tested positive for coronavirus has also not led to a massive liquidation of positions. Investors around the world will be closely monitoring the situation, however markets are trying to avoid panic-based decisions."
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 $341,455,912,854.
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