Bitcoin has started the day posting minor gains. At press time, the largest cryptocurrency by market cap is trading at $19,499.01 (+4.89%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has increased to $609.35 (+4.02%), while XRP has jumped by 6.26% and is now trading at $0.665.
FxPro's team of analysts say:
"Bitcoin entered an aggressive growth phase last night, breaking the $19,000 barrier with a single push to a new high and then starting to fall. However, the bulls have tried on several occasions to push the currency above the high of $19,880, but have not been able to break through the resistance level. Be that as it may, the price dynamic remains positive and it looks like the bulls are simply gathering strength for the next rally. Over the past 24 hours, the price of Bitcoin has increased by 5% and is currently trading at around $19,500.
Pessimists are clearly in no hurry to get rid of their Bitcoins at the current price. The altcoins market is moderately in the green area, and of course, more attention will now be paid to the benchmark crypto, which will become the locomotive of the future dynamic of the crypto market as a whole.
After this significant rise in the price of Bitcoin, the greed and fear index has posted an increase of 7 points to 95. The same value was reached on June 26, 2019, at the peak of the rally, shortly before a correction began. The RSI remains far from such extreme values. Even though the indicator has registered a strong increase, it is still at the limit with the overbought area. So now we also have to find out which indicator most accurately reflects the current situation in the market."
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 $583,010,755,584.
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