Although BTC is back at trading sideways, Fundstrat Global Advisors co-founder Tom Lee expects this to change with the coming launch of Bakkt and is positive on its ability “to improve trust with institutions to crypto.”
Friday, Sept. 20 – The price of Bitcoin remains largely uninspired and is once again trading sideways around the $10,200 price mark.
The world’s largest cryptocurrency continues to trade flat, with an intraday high of around $10,280, while slowly trading downward to its current trading price of $10,147, showing a loss of 1.16% on the day, according to data from Coin360.
Bitcoin 24-hour price chart. Source: Coin360
Price analyst Rakesh Upadhyay wrote today that a breakout of the downtrend line of the symmetrical triangle will indicate that the bulls have overpowered the bears and a new trending move will begin. He expects the momentum to carry the price to the yearly high of $13,973. While the rally might face resistance at $12,304.37 and $13,156.96, he expects these levels to be crossed.
While Bitcoin fails to impress, Ether (ETH) is holding on to its recent gains well above the $200 price mark. The most popular altcoin is currently trading at $217.97, while showing a loss of 0.63% on the day.
Ether 24-hour price chart. Source: Coin360
Ripple’s XRP token dropped below the critical $0.30 price point yet again, from an intraday high of $0.3127. At press time, the world’s third-most popular coin is down 1.43% in the last 24 hours.
XRP 7-day price chart. Source: Coin360
Top-20 altcoins mostly in the red
Most major altcoins are experiencing a red candlestick day, but EOS is up 1.34% in the last 24 hours and IOTA is showing an impressive gain of more than 6.5% on the day. Cardano (ADA) and Ethereum Classic (ETC) are also both up, 2.44% and 0.11%, respectively.
The biggest top 20 losers of the day are Stellar (XLM) with a massive correction of 7.9%, and Tezos (XTZ) down over 5% on the day.
The overall cryptocurrency market cap sits near $270 billion, with Bitcoin making up 67.7% of the total.