Bitcoin has started the day with a positive dynamic. At press time, the largest cryptocurrency by market cap is trading at $10,746.98 (+1.01%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has grown to $352.59 (+0.51%), while XRP has increased by 3.13% and is now trading at $0.255.
FxPro's team of analysts say:
"Bitcoin is getting closer to $11,000 after adding around 1% over the last 24 hours. This morning, the reference crypto is trading at around $10,750. The gradual upward trend recorded during recent episodes has been interrupted by pretty strong sales. The current cycle is accompanied by higher trading volumes. The greed and fear index for Bitcoin and the larger cryptos has added 5 points to 47 during the last day, moving to the 'neutral' area. For its part, the RSI for the BTC/USD pair is also in 'neutral' territory.
US president Trump is trying hard to convince global market participants of his ability to continue working, so in the medium term we can expect stability in both the stock market and in risk positions, including Bitcoin.
The difficulty of Bitcoin mining remains at its peak, reflecting the miners' confidence in the prospects of the reference cryptocurrency. At the end of September, a slight increase in this indicator was recorded, however, this month it has not followed this trend. We have witnessed a steady increase in the difficulty after the halving of the crypto."
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 $342,456,643,859.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.