Investors focus on Bitcoin, less interest in Ripple (XRP) and Ethereum (ETH)

On Monday, July 23, the price of the first cryptocurrency exceeded the limit of $ 7,500 to $ 7,680 up by about 3 percentage points, the Bitcoin capitalization reached $ 131 billion while the overall cryptocurrency market increased to $ 288 billion dollars .

Bitcoin finally overcame the resistance represented by the 100-period moving average on the one-day compression chart at $ 7,600 providing a positive signal and paving the way for $ 8,000.

At the same time the other major cryptocurrencies are also growing but there are unattractive increases, in recent days it seems that traders and investors are focusing precisely on Bitcoin compared to the altcoins.

In the morning of today, Ethereum rises 0.5 percent, Ripple XRP increases by 1.20%, EOS grows by 2.86% while Bitcoin Cash rises $ 820 dollars up by about 4 percent.

Analysts suggest a US $ 10,000 level test in the coming weeks, followed by a long consolidation period before the next uptrend. The trend indicators in the daily time period went from bearish to neutral, while momentum oscillators in the weekly time period started to turn from bearish to bullish. A decision by the SEC ETC for BTC in August could be the catalyst needed to immediately trigger price action up to the $ 10,000 level.

About Emanuele Brizzi 27 Articles
Emanuele is a freelance journalist, an expert in financial technology, he follows daily market trends. He graduated in economics in 2013 and has been interested in blockchain since he read about Bitcoin several years ago. The author loves to write about cryptocurrencies, his attention is focused on news that periodically emerge from new and existing projects. Email: brizzi_block@altcoinews.it

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