Bitcoin Finally Breaks Resistance to Trade Above $10,000 Price Level

The beginning of a new week started with a slight uptrend with all of the top 30 cryptocurrencies trading in green. During the weekend, Bitcoin spent more of its time consolidating above the $10,000 mark.

The entire digital asset community is excited about the current trading patterns existing in the market. But the question token users are asking is whether this pattern is a one off or it is actually the beginning of a widespread revival of popular cryptocurrencies.  

Bitcoin Price Analysis: the Beginning of an Uptrend  

At press time, Bitcoin (BTC/USD) is trading in the green slightly above $10,000 at around $10,721.27 (+3,55 percent), with a market capitalization of over $191.75 billion, daily trading volume of more than $14.59 billion and a supply of 17.88 million. Considering the 7-day trading price, Bitcoin is below by -5.8 percent, meaning that the world’s leading altcoin has performed poorly over the past seven days.

    

However, the entire market cap of more than 2450 tokens from over 19975 markets across the world, is sitting at about $279.314 bln, and the daily trading volume is over $49.157 bln. Due to the volatile nature of cryptocurrencies, the total market cap has lost over $19 bln in the last one week. Bitcoin is continuing to dominate the markets with almost 68.7 percent.  

ETH/USD Price  

The globe’s second cryptoasset by market cap, Ethereum (ETH), is also trading in the green at over $201.921 (+6.30%) with a market cap of more than $21.68 bln and daily volume of over $6.30 bln.  

ETH/USD has not also performed very well in the past 7 days since the change is showing a drop of -4.99 percent. Moreover, the upcoming Istanbul hard fork, the first part of which is scheduled for October 2019 might bring a new impetus for Ethereum price.  

    

XRP/USD 24h Price  

The price of Ripple (XRP/USD) is currently in the green standing at around $0.287209 (+3.13%), with a market cap of over $12.32 billion and daily volume of around $1.25 billion.However, just like Bitcoin and Ethereum, Ripple has also not performed up to expectations in the last week, it is still below -4.38 percent.  

    

Maker (MKR, $517.02, -0.20%) and V Systems (VSYS, $0.197662, -0.72%), with Egretia (EGT, $0.036572, -8.14%) and ABBC Coin (ABBC, $0.099423, -5.36%) being the worst performers among the top 100 altcoins.