Bitcoin has started the day posting minor gains. At press time, the largest cryptocurrency by market cap is trading at $10,624.39 (+0.13%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has fallen to $336.51 (-1.08%), while XRP has dropped by 0.29% and is now trading at $0.244.
FxPro's team of analysts say:
"The price of Bitcoin has experienced few changes over the last day, remaining around $10,600. This sideways trend coincides with a decrease in trading volumes. Bitcoin is stuck near a major resistance threshold that has previously acted as support. For the moment, the main good news is the fact that buyers are managing to keep Bitcoin stable above $10,000. A drop below this level could give bears a boost. In traditional markets there is a moderate positive sentiment, however, digital currencies seem to be in no hurry to follow suit.
Internal triggers could give a boost to both Bitcoin and other cryptos, however, it looks like this has not yet happened. Bitcoin is often affected by the pattern of 'what doesn't grow, ends up falling,' so a prolonged sideways trend could become another argument for increased sales.
The decline in Bitcoin is unacceptable to miners, who are facing a record difficulty in their activity. The epidemic situation and the elections in the US may become the next external factors of influence in the crypto market."
According to CoinMarketCap’s ranking, 4 currencies on the top 10 are in green.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $333,662,785,852.
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