Bitcoin has started the day with a positive dynamic. At press time, the largest cryptocurrency by market cap is trading at $19,172.08 (+0.28%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has fallen to $584.03 (-0.36%), while XRP has dropped by 3.17% and is now trading at $0.492.
FxPro's team of analysts say:
"Bitcoin has experienced few changes over the last day and is currently trading at around the $19,200. However, the crypto has tried to grow this morning even though it has not been able to overcome the resistance level of $19,500. The fact that the bulls are trying to push the currency up is good news in itself, however, the short-term growth and the inability to break the resistance level suggest the benchmark crypto will face some difficult tests on its way to $20,000. However, the fundamental factors are not sufficient to create a strong enough momentum.
The greed and fear index for Bitcoin and the largest cryptos has lost 4 points to 91 during the last day, remaining in the 'extreme greed' area. In theory, this suggests an imminent sale. However, the RSI for the BTC/USD pair remains in neutral territory, away from the overbought area. While indicators may differ in value, indicating different perspectives, the purchases of institutional investor could trigger a FOMO, which could push Bitcoin above the $20,000 barrier even if technical indicators suggest an overbought scenario.
Goldman Sachs has said the interest of traditional companies in Bitcoin could bring up to $600B, which will be a big boost to continued growth."
According to CoinMarketCap’s ranking, 5 currencies on the top 10 are in green.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $560,195,033,855.
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