Bitcoin Heads Up To $3,900 Support Level While Crypto Markets Trade Sideways

At the end of the day, we are reading in our cryptocurrency news the analysis of the crypto market and the largest cryptocurrencies where we can see that the total market cap is hovering around $134 billion while Bitcoin is testing the $3,900 support level for the most part of the day.

The top 20 cryptocurrencies are seeing some mixed signals with slight losses that are not exceeding 1 percent while the other cryptocurrencies see some growth of more than 4 percent over the past 24 hours at press time.

For example, Bitcoin is trading at $3,912 which means it is up by 0.3 percent over the past 24 hours but earlier in the day the crypto was as high as $3,925. The intraday low reached $3,863 and now at press time, the price of Bitcoin is up by 0.7 percent over the past week.

Ethereum on the other hand, is now trading at $134 which means the second largest cryptocurrency is up by 0.4 percent during the day. The altcoin was down however, by 1.85 percent for the past seven days. It is important to note that the United States Securities and Exchange Commission more specifically the chairman Jay Clayton stated that Ethereum and cryptocurrencies like Ethereum are not securities under the US law. Also, Sparkpool Ethereum mining pool confirmed that there has come to an agreement with the user who sent more than $300,000 in mining fees accidentally.

Ripple (XRP), now the third cryptocurrency by market cap, is down by 0.03 percent and is trading about $0.3107 at the time of writing. This altcoin was down by 1.34 percent over the past 7 days.

For the other smaller cryptocurrencies such as Dash and Cardano are seeing some growth among the other 20 coins with the one trading at $91.65 and the other dropping down by more than 0.7 percent which is the biggest loss for the Cardano coin.

The total market capitalization reached about $134 billion and the daily trading volume is about $32 billion.

In the meantime, the price of the oil has grown slightly after allegedly being supported by Saudi Arabia’s plan for supply curbs and the reduction of oil exports from Venezuela. Also, the gold prices also experienced some growth.