Bitcoin has started the day with a positive dynamic. At press time, the largest cryptocurrency by market cap is trading at $45,797.01 (+3.08%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ether is up to $3,314.71 (+3.32%), while Cardano has risen by 1.51% and is now trading at $2.41.
FxPro's team of analysts say:
"Bitcoin ended the previous week in negative territory and started the new one with a decline. On Monday, despite falling to $42,222, it managed to find enough buyers on the decline to the 50-day and 200-day simple moving averages. And this means that formally, the bull market continues.
On Tuesday morning, the reference crypto has somewhat convinced investors that now the bulls are even stronger: its price has started to rise and is already above $45,000. If the upward movement continues, more and more investors could join the buying.
On the daily chart, it is clear that in 1-2 days there is a probability of getting a 'golden cross' according to technical analysis. Perhaps that is the reason why bears are not in a hurry to get rid of short positions in a wave. They are waiting.
If they wait, ahead is the BTC move to $48,000. However, it is not yet clear whether the coin will be able to establish itself in this area. This requires new and powerful support drivers."
According to CoinMarketCap’s ranking, all currencies on the top 10 are in green.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $2,077,475,875,924.
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