The price of Bitcoin is growing while Ripple (XRP) seems to be in difficulty

The price of Bitcoin is growing while Ripple (XRP) seems to be in difficulty. The price of Bitcoin is consolidating within a bullish flag pattern, which could be indicative of another higher run. In today’s trading session it seems that there is not the usual correlation between Bitcoin and Altcoins, in fact, according to the data of Coin Market Cap, Bitcoin is the 1.70% rise while the other major cryptocurrencies are recording rebates, to have the worst it is Ripple XRP that loses 4.5 percent, while Ethereum drops by 2.60 percent.

Judging from these data it is clear that users are shifting its investments from altcoin to bitcoin, thus raising the price of cryptocurrency number 1 which currently stands at 7,450 dollars, the market is moving close to a major resistance represented by the moving average of 100 periods that passes to 7,600 dollars. Based on these considerations we believe it is quite probable that this level will be exceeded to the upside in the next few hours, the price of bitcoin could therefore reach 8,000 dollars in the short term.

About Paolo Cianfriglia 28 Articles
Paolo is a financial analyst who likes to analyze and write about financial markets, especially abuot the fast-growing cryptocurrency markets. He writes for several websites and corporate blogs and at the same time offers advice to investors who are not yet familiar with the dangers related to the digital currency markets. Strongly motivated by the interest in blockchain technology, he loves sharing the news of the sector. Email Address: paoloweb@altcoinews.it

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