Bitcoin has started the day posting significant gains. At press time, the largest cryptocurrency by market cap is trading at $15,633.92 (+8.14%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has grown to $432.32 (+6.93%), while XRP has increased by 5.81% and is now trading at $0.253.
FxPro's team of analysts say:
"Bitcoin has posted an increase of 10% over the last day and at the end of the workweek it is trading at around $15,700. Therefore, the currency has not only exceeded $15,000, but is also approaching the next round level. In this context, the Bitcoin dominance index has continued to grow to 65.5%.
The price of Bitcoin has not reached this level since January 2018, when the crypto market was moving away from its all-time high. If Bitcoin ends the week close to current levels, the upward dynamics might push the crypto to new highs.
The greed and fear index for Bitcoin and the largest cryptos, as expected, has added 18 points in just one day, moving into the 'extreme greed' area with 90 points. The higher the value of this index, the closer the time for a sale-off will be.
It is obvious that many investors are withdrawing their profits, however, no one wants to be on the side of those who sold too soon. If Bitcoin remains close to the reached levels today, investors will start to assume we are in a bullish spiral where the crypto could reach new highs in a matter of days."
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 $443,949,277,347.
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