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

Aug 20, 2019 at 10:26 // News
Author
Coin Idol
The beginning of a new week started with a slight uptrend with all of the top 30 cryptocurrencies trading in green.

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.

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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.

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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.  

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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.  

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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.