Bitcoin has started the day posting minor gains. At press time, the largest cryptocurrency by market cap is trading at $51,233.4 (+6.21%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ether has increased to $4,409.81 (+9.27%), while Binance Coin has risen by 5.64% and is now trading at $587,1.
FxPro's team of analysts say:
"Yesterday, interest in buying cryptos returned along with increased risk appetite in global markets. Over the past 24 hours, the BTC/USD pair has added 6%, and the crypto is currently trading just above the $51,000 level.
The RSI on the daily candlestick charts has retreated from the area below 30 (oversold area). The price has been groping for buyers' support at the important level of the 200-day moving average. So far, we are seeing the implementation of a very bullish scenario for Bitcoin, where it is receiving stable support from the bulls, which does not allow it to suffer an uncontrolled fall.
A little earlier, Ether has managed to rise back above the $4,000 barrier, which has also allowed many altcoins to breathe freer from the recent sell-off.
The fear and greed index has added 9 points to 25 in 24 hours. This is still an extreme fear zone, however, the recent dynamic of the larger coins indicate this is the time for investors with a greater appetite for risk to enter the market.
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 $2,388,612,624,020.
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