Bitcoin has started the day posting losses. At press time, the largest cryptocurrency by market cap is trading at $54,594.66 (-2.81%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ether has fallen to $3,281.96 (-2.23%), while Binance Coin has dropped by 3.5% and is now trading at $636.83.
FxPro's team of analysts say:
"Bitcoin has lost 3.5% of its value over the last day and is currently trading at around $54,100. The trading volume on the Bitcoin network has risen by 23% over the last day, which can be seen as a positive sign of recovering buyer interest. The greed and fear index for Bitcoin and the largest cryptos has lost 20 points over the past 24 hours, jumping from the 'greed' area to the 'neutral' area. As it was conceived, the lower the index, the greater the likelihood of price growth returning and, in principle, the more room for positive dynamic. The decision made by Sotheby's, one of the world's most famous auction houses, to hold auctions with the possibility of paying with Bitcoins, could provide support for the reference crypto.
Moreover, the infrastructure around cryptocurrencies is growing gradually. In this case, we are talking about the launch of indexes for Bitcoin and Ether from S&P, one of the most famous financial data providers. CoinMarketCap's data is often questioned. A reputable data provider could bring new major players to the market that need reliable data from a proven source. In addition, it can be seen that Wall Street is only interested in some of the largest cryptocurrencies. Gradually, new coins will be added to this list, but at the moment all the interest is in the largest assets."
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 $2,257,039,520,577.
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