Main page News

Bitcoin has started the day posting gains. At press time, the largest cryptocurrency by market cap is trading at $50,110.69 (+6.06%), according to CoinMarketCap.

Chart of the USD/BTC trading pair from EXANTE

For its part, Ether is up to $3,742.55 (+6.48%), while Cardano has risen by 9.45% and is now trading at $3.05.

FxPro's team of analysts say:

"Bitcoin is having a very positive start to the fall, and over the past day, the reference cryptocurrency has added 5%, inching ever closer to the $50,000 threshold. At the moment, the coin is trading at $49,600 and is on the verge of breaking through the most important resistance level.

It is difficult to predict how sellers will behave if Bitcoin so quickly surpasses the round level, but not so long ago there were already some attempts, and it is very likely that many of those who wanted to sell did so. As for the trading volumes on the Bitcoin network, they are gradually growing, but it cannot be said that the current sharp increase in price is supported by the same increase in trading activity, which forces us to be cautious.

In addition to BTC, Ether and Cardano continue to grow very confidently. CryptoQuant has found that, in addition to the popularity of NFTs, the decrease in coin supply on cryptocurrency exchanges is also contributing to the rise in the price of ETH. The end of the workweek on such a positive note could create an equally good mood for the weekend, where the retail sector is already becoming more active. Not only institutional investors were on vacation, but also non-professional investors, so it is likely that the start of the fall period will prove to be really strong for the crypto market."

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 $2,105,752,383,153.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

Please describe the error