Bitcoin has started the day experiencing minor losses. At press time, the largest cryptocurrency by market cap is trading at $15,285.57 (-1.31%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has fallen to $446.48 (-1.29%), while XRP has dropped by 1.32% and is now trading at $0.249.
FxPro's team of analysts say:
"Bitcoin remains above $15,300, roughly at the same levels as yesterday. The consolidation around recently occupied levels would be the most favorable scenario for Bitcoin. The greed and fear index still remains in the 'extreme greed' area, however, it has not posted any growth over the last day, which could be considered as positive news. The hashrate of Bitcoin has risen over the last few days by more than 40%, confirming the fact that Chinese miners have completed their relocation process and their devices are working again.
The fall in the hashrate, the difficulty adjustment of the mining as well as the rise in the price of Bitcoin have led to an increase in the miners' income that could be maintained until the next difficulty adjustment takes place.
Since the beginning of the workweek, Bitcoin and other cryptos have experienced little change, however, during the last week almost all currencies on the top 10 have registered double-digit profits. Thus, Bitcoin has increased by 14% during the last seven days, while Ethereum has added 20%. The total capitalization of the crypto market has confidently surpassed the round value and currently stands at around $450B, with the next major psychological level being $500B. Surpassing this level could trigger an even stronger FOMO."
According to CoinMarketCap’s ranking, 8 currencies on the top 10 are in red.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $441,018,965,376.
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