Bitcoin has started the trading session posting gains. At press time, the largest cryptocurrency by market cap is trading at $10,072.39 (+2.86%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has grown to $278.07 (+3.74%), while XRP has climbed by 0.81% and is now trading at $0.294.
FxPro’s team of analysts say:
“The reference cryptocurrency has been consolidating its position over the past 24 hours after buyers started to show interest in it and pushed it over the $10,000 mark. At the start the trading session, BTC posted a 3% increase and is currently trading at about $10,100.
It looks like the reasons behind the recent drop in the crypto have only affected it in the short term. It must be noted this new rally has been driven by altcoins. The Bitcoin dominance index is at 62.8%, the same value it reached back in December 2017 coinciding with the peak of altcoins. The greed and fear index is at around 50 points at the ‘neutral’ level.
According to WhaleAlert, almost 50,000 Bitcoins have been transferred between several wallets. Whales might be trying to influence the market by increasing general activity in the network. Under the current situation, fees allow them to do so without any problems. However, the more frequent this type of transactions happen, the greater the likelihood they will cease to influence the market.”
According to CoinMarketCap’s ranking, 8 currencies on the top 10 are in green.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $293,957,713,844.
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