Friday, September 20 – The price of Bitcoin (BTC) remains largely uninspired and again traded sideways around the $ 10,200 price tag.
Market Preview Source: Coin360
Although BTC is once again traded sideways, co-founder of Fundstrat Global Advisors Global Advisors expects this to change with the upcoming launch of Bakkt and is positive about its ability to "improve trust with institutions for cryptocurrency." [1
24 hour bitcoin price chart. Source: Coin360
Price analyst Rakesh Upadhay writes today that a break in the downward trend line of the symmetric triangle will indicate that the bulls have outperformed the bears and a new trend will start. He expects inertia to hold the price to an annual high of $ 13,973. Although the rally may meet resistance at $ 12,304.37 and $ 13,156.96, it expects these levels to be curtailed.
While Bitcoin fails to impress, Ether (ETH) is holding on to its recent gains, well above its $ 200 price point. The most popular altcoin currently trades at $ 217.97, while losing 0.63% on the day.
24-hour Ether chart. Source: Coin360
The Ripple XRP token again fell below the critical $ 0.30 price again of $ 0.3127. During printing, the world's third most popular coin has dropped 1.43% in the last 24 hours.
XRP 7-day price chart. Source: Coin360
Top 20 altcoins mostly in red
Most major alcoaquins are experiencing a red candle day, but EOS is up 1.34% in the last 24 hours and IOTA is showing impressive gains of over 6.5% on the day. Cardano (ADA) and Ethereum Classic (ETC) also went up by 2.44% and 0.11% respectively.
The top 20 losers of the day are Stellar (XLM) with a massive correction of 7.9%, and Tezos (XTZ) reduction over 5% on the day.
The total market cap of cryptocurrencies is nearly $ 270 billion, with Bitcoin accounting for 67.7% of the total.