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 $60,706.39 (+2.95%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ether has increased to $4,317.77 (+7.36%), while Binance Coin is up by 8% and is now trading at $491.87.
FxPro's team of analysts say:
"Buyers are once again trying to push Bitcoin back onto the growth path. Over the past day, the coin has added about 4% and is trading near $61,300. The dip below $60,000 has activated a layer of investors looking to join the latest rally.
El Salvador's buying could continue to provide modest support for Bitcoin. It has recently become known that coinciding with the crypto's recent drop, the country's authorities have decided to replenish the state reserve with another 420 BTC.
In addition, positive news is the recovery of the Bitcoin hashrate to the level prior to the mining ban in China. As a result, despite the fact the PRC has banned everything related to cryptos, all cryptocurrency market participants are once again witnessing the beauty of decentralization, as Beijing has only put short-term pressure on the crypto market.
In the near future, Bitcoin's ability to surpass $65,000 and head towards $70,000 could launch a chain of FOMO in the market, which could affect all cryptos at once. According to the crypto community's expectations, we may see BTC reaching $100,000 by the end of the year. And in confirmation of the general optimism of cryptocurrency enthusiasts, we could cite the renewal of all-time highs by Ether recently and the increase in the total cryptocurrency market cap to new all-time highs above $2.6 trillion."
According to CoinMarketCap’s ranking, 9 currencies on the top 10 are in green.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $2,593,490,312,708.
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