Price Analysis: Top 10 Cryptocurrencies Post Gains with BTC above $8K
MARKET ANALYSIS
October 17  |  2 min read

Bitcoin Price Climbs back above $8K as Reach of Brexit Deal Announced

The COIN360 Editorial Team

The Bitcoin price gained over 1.4% for the day and is back to trading above $8k after yesterday’s downtrend. Although the 200-day MA (Moving Average) is currently at $8,778, which is still well above the recent price of Bitcoin.

Bitcoin price chart on COIN360


As suggested by crypto experts, Bitcoin will either recover quickly and climb back to $8,300, or go down to test the support level of $7,750. In the latter case, the largest cryptocurrency risks to fall even further, toward $7,200, losing full control over the market to the bears.

Just like Bitcoin, the pound climbed against the dollar today boosted by the news of the Brexit deal. As Prime Minister Boris Johnson tweeted today, “We’ve got a great new deal that takes back control — now Parliament should get Brexit done on Saturday.” The GBP/USD touched the 1.29398 mark and then settled back to trading at the 1.285 area.

While the Bitcoin price is still weak, some altcoins post strong gains. For example, Monero (XMR) surged over 9% for the day, and is currently trading at $59.54. Chainlink (LINK), which is placed at №15, gained almost as much as Monero, 8.9% for the day. The LINK price is $2.46 at press time. So far, all top 10 cryptocurrencies show price increases, as seen on the COIN360 price chart:

Top 10 cryptocurrencies price chart on COIN360