Bitcoin has started the day posting minor gains. At press time, the largest cryptocurrency by market cap is trading at $8,791.58 (+1.68%).
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has grown to $171.01 (+2.38%), while XRP has grown by 1.21% and is now trading at $0.238.
According to CoinMarketCap’s ranking, 9 currencies on the top 10 are in green.
FxPro’s team of analysts say:
“Bitcoin price remains at around $8,700. Even though the momentum is not strong enough to keep the growth, the 200-day moving average is acting as a support. After falling from the overbought zone, the RSI has stabilized at 65.
The interest in the market might be the result of the fact that an unknown whale has transferred over 50,000 BTCs ($450 million) with a $0.2 fee. These type of transactions would be impossible in the traditional banking system. From a marketing point of view, cryptocurrencies should allow such transactions more frequently in order to remind market participants of the possibilities digital currencies provide.
The altcoins market as a whole has lost momentum while it waits for new catalysts. Interest in Bitcoin SV, which has been fighting against Bitcoin Cash for a while, is not losing momentum. While Bitcoin SV is trying to convince the market it can keep growing, some analysis suggests the current growth could be due to manipulation.”
As for the market cap of all currencies listed in CoinMarketCap, it stays at $243,390,740,347.
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