Bitcoin has started the last day of the workweek posting minor gains. At press time, the largest cryptocurrency by market cap is trading at $54,385.88 (+0.02%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ether has risen to $2,776.61 (+1.74%), while XRP has jumped by 11.68% and is now trading at $1.56.
FxPro's team of analysts say:
"During the last day of the workweek, Bitcoin has registered almost no changes and is currently trading at around $54,000. The crypto has fallen as low as $52,400 over the past 24 hours, after which it has started to rise. The Bitcoin dominance index stands at 48.2%, while the greed and fear index is at 51 points, which corresponds to the 'neutral' area. In theory, this could suggest there is room for growth, but in reality, approaching the 'fear' area at this stage can only increase sells. For the time being, market participants remain on the lookout for new triggers.
While optimistic investors see what is happening now as a consolidation process, there are a growing number of investors who are wary of a decline below the 50-day average. The RSI for the BTC/USD pair on the daily chart is far from overbought levels. However, if the crypto market does not find new sources of optimism in the near future, the recent rally may be challenged, as a result of which the market may well turn to another massive sell-off, and the ranks of pessimists will be noticeably replenished."
According to CoinMarketCap’s ranking, 6 currencies on the top 10 are in green.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $2,118,653,457,368.
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