On Monday, March 1, the price of bitcoin rises. At 09:40 UTC, the first cryptocurrency is trading at $ 45,938.36 (+ 1.57%), according to CoinMarketCap.
Bitstamp BTC / USD Chart by TradingView
Ether rose in price to $ 1,430.63 (+ 3.27%). XRP fell 0.23% to $ 0.42.
The FxPro analyst team notes:
“At the beginning of the working week, bitcoin is being bought back after a dip to $ 43,500 on the last day of winter. As a result, the coin shows an increase of 2% per day and is traded at about $ 46,000. Altcoins are also gradually attracting consumer demand, but the figures are very alarming over the week. Bitcoin lost more than 17% in 7 days, Ethereum – 23%. Almost all altcoins are showing double-digit declines. The total cryptocurrency capitalization fell by $ 300 billion over the week.
The Greed and Fear Index for Bitcoin and the largest cryptocurrencies fell 56 points from last week to 38, which corresponds to the “fear” regime. Except for a short-term drawdown on January 21, the index is now back to the values of early October 2020, indicating the formation of the basis for a panic sell-off in the crypto market. Now the traditional market, which is also overheated, can add fuel to the fire. A correction with the stock market can play a bad friendship for digital currencies, as we have already seen that a sell-off in one sector easily provokes a sell-off in the other. “
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