Bitcoin has started the last day of the workweek posting gains. At press time, the largest cryptocurrency by market cap is trading at $59,269.81 (+2.96%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ether is up to $3,811.76 (+5.11%), while Binance Coin has dropped by 2% and is now trading at $465.64.
FxPro's team of analysts say:
"Bitcoin has grown by almost 3% over the last day and is currently trading at $60,000. The positive price dynamics of the currency on the last business day of the week will be very important, and the round level could become quite difficult resistance for the bulls. In the event of a pullback after testing $60,000, this will not surprise anyone, however, most market participants will still expect consolidation above this level, which should convince investors of the fact that Bitcoin's continued growth is inevitable.
At this stage, the market is increasingly clearly selling the idea of continued growth, even though there is really no reason to substantiate it. Bitcoin is not becoming a global means of payment, El Salvador itself is making a rather modest contribution to the crypto market.
The recent decision of the president of this country has been criticized by the founder of Ethereum. Vitalik Buterin considers the forced introduction of a digital asset into the economy as reckless encroaching on the idea of freedom and decentralization, and also believes that massive hacks as well as theft of funds from users in the country are possible due to insufficient understanding of what is happening.
If the current growth of Bitcoin turns out to be based on manipulation, the market could face quite serious shocks."
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 $2,431,622,487,945.
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