Bitcoin has started the day posting some gains. At press time, the largest cryptocurrency by market cap is trading at $19,468.19 (+1.55%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has increased to $586.93 (+0.45%), while XRP has dropped by 7.12% and is now trading at $0.457.
FxPro's team of analysts say:
"Bitcoin has once again found strong resistance after growing to $19,500. The trading volume has remained stable over the last 24 hours at around $25B. It looks like investors are waiting for new catalysts. Neither the bulls nor the bears are brave enough to give the first step.
On the one hand, the bears have seen how buyers are actively defending Bitcoin as it approaches $17,000. On the other hand, the bulls are also aware of the seriousness of the $20,000 resistance level, so they are waiting for strong growth stimulators.
The greed and fear index for Bitcoin and the largest cryptos remains in the 'extreme greed' area with 92 points. As the coronavirus vaccines are developed and the traditional market grows, some of the big investors could start to withdraw their profits in the context of the overheated state of the traditional assets. These same sentiments are probably playing against Bitcoin, preventing it from developing further growth. As the end of the year approaches, we can get a clearer reference for future dynamics."
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 $564,848,760,818.
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