Bitcoin has started the day with a positive dynamic. At press time, the largest cryptocurrency by market cap is trading at $18,592.69 (+1.2%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has grown to $583.42 (+8.5%), while XRP has increased by 6.3% and is now trading at $0.461.
FxPro's team of analysts say:
"Bitcoin has kept its position over the weekend, and at the beginning of the workweek, the crypto remains almost unchanged at around $18,400. This is great news for the whole sector due to the fact that it confirms the active position of the bulls in the market.
The bears have made several attempts over the last 24 hours to push BTC down. One of the attempts has been more successful and has resulted in Bitcoin falling to $17,700, however, buyers have been quick to come to the rescue and have pushed the currency to $18,600, from which it has fallen slightly to its current level. In any case, Bitcoin has posted a growth of over 14% during the last week. The altcoin market has not only added to the positive dynamic, but has also developed it significantly. The protagonist of last week is XRP, which has risen as much as 68%.
In this context, the Bitcoin dominance index has lost almost 2% during the week. This is positive news for the industry, as it reflects a widespread interest in the industry as a whole. The greed and fear index has lost 4 points during the last 24 hours, however, it still remains in the 'extreme greed' area. In theory, this should indicate a high probability of a broad correction, however, the market is currently in a situation where the FOMO could neutralize the effect of technical indicators."
According to CoinMarketCap’s ranking, all currencies on the top 10 are in green.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $545,655,209,284.
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