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Bitcoin has started the last day of the workweek in a positive mood. At press time, the largest cryptocurrency by market cap is trading at $47,027.58 (+6%), according to CoinMarketCap.

Chart of the USD/BTC trading pair from EXANTE

For its part, Ether is up to $3,213.17 (+7.74%), while Cardano has risen by 17.39% and is now trading at $2.47.

FxPro's team of analysts say:

"Bitcoin has been falling over the past few days, a situation that investors hoping to buy the asset at a discount have taken advantage of. Over the past 24 hours, Bitcoin has grown by almost 7% and is trading at around $47,100. Along with the price growth, trading volumes have also increased, further reinforcing the current rebound. The rest of the cryptocurrency market has also started to grow following the lead of the reference cryptocurrency. As a result, on the last day of the current workweek, the total market capitalization of the crypto market has once again surpassed $2 trillion.

The S&P 500 has shown signs of buying interest in the recent downturn. And this has encouraged speculators, suggesting a further increase in demand for risk.

There are several options here, and one of them is that BTC could face manipulation due to low total trading volumes.

In this case, a new growth episode will not last long and will end at resistance levels above $48,000-$50,000. The second scenario is much more favorable and within its framework we see another phase of asset accumulation, resulting in a price increase. In this case, breaking above $50,000 opens a direct path to a new bullish phase. The ability to end the workweek above $48,000 and a positive weekend could well consolidate the conditions for a good start to next week."

According to CoinMarketCap’s ranking, 8 currencies on the top 10 are in green.

As for the market cap of all currencies listed in CoinMarketCap, it stays at $2,034,429,894,970.

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