Categories: Crypto Review

Bit-comment: The crypto market holds positions after gain

Bitcoin has climbed 3% in the last 24 hours and traded around $6,700, but the main increase occurred yesterday morning, after which prices stabilized near last week’s highs. Altcoins are showing similar dynamics. However, the first cryptocurrency failed to break out from $6K area, and was unable to replicate the rally of global markets.

Over the last week, the Bitcoin Dominance Index rose by almost 2% to 65.7%. The Crypto Fear & Greed Index has increased by one point in the previous 24 hours, remaining in the “extreme fear” area. According to its creators, this indicates a right moment for purchase. The RSI index is in the neutral zone, after oversold, also giving a signal to buy. As unpleasant as it may be for crypto enthusiasts to realize this fact, but the situation around the epidemic, stock market, and central bank incentives will have a powerful impact on prospects for Bitcoin and the entire crypto market.

The FxPro Analyst Team

The FxPro Analyst Team

Our team consists of financial market experts. Our dedicated professionals prepare reviews on the foreign exchange market situation, Crude Oil, Gold and Stock Indices. All the analysts are regularly published in the world leading economic media.

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