Bitcoin has started the day in a positive mood. At press time, the largest cryptocurrency by market cap is trading at $43,351.48 (+2.17%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ether is up to $3,004.18 (+2.65%), while Tether has dropped by 0.05% and is now trading at $0.999.
FxPro's team of analysts say:
"Bitcoin has rallied 3% over the past day and is currently trading at around $43,500. The reference crypto fell as low as $41,000 overnight. Buyers have entered the scene as the crypto approached round value, expecting short-term reductions, again and again saving Bitcoin from a more serious local correction. The greed and fear index for Bitcoin and the largest cryptocurrencies is around 20, which corresponds to the 'extreme fear' area, which, according to the fundamentals of the indicator, indicates growth prospects. The RSI for the BTC/USD pair is in the neutral zone, which also indicates room for continued growth.
Of the fundamental factors, it is worth noting what is happening in El Salvador. The country's authorities, despite all external and internal pressures, continue to build a Bitcoin-dependent economy. The country's president has released a video of the installation of ASIC devices that should run on the energy of volcanoes. It is unlikely that this kind of news can generate a wave of purchases, however, they support the 'burn.' It should be noted that in the event that the country's project fails, the negative consequences for the sector could be more serious than the current positive contribution."
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 $1,908,846,069,000.
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