Bitcoin fails to impress while it is back at trading sideways at $10,200, as most of the altcoins experience a red candlestick day.
Friday, Sept. 20 — The price of Bitcoin (BTC) remains largely uninspired and is once again trading sideways around the $10,200 price mark.
Market visualization. Source: Coin360
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.”
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 overall cryptocurrency market cap sits near $270 billion, with Bitcoin making up 67.7% of the total.