Bitcoin is again in the green, gaining a modest 1% in the last 24 hours while the rest of the market struggles. It is now worth $10,570. The move continues Bitcoin’s positive momentum this September, with the cryptocurrency now up close to 10% in the last five days.
Nevertheless, market sentiment appears to be recovering. According to the alternative.me Crypto Fear & Greed Index, people speaking on social media are feeling less negative about the market, with the index improving from a state of extreme fear last week, to mild fear as of today. This means fewer people are worried that there might be a sudden drop in prices.
Besides Bitcoin, Monero (XMR) has also experienced significant gains in the past day, climbing 5% from $72.68 to $76.23 as of writing. At the same time, its inflation rate just dropped below that of Bitcoin. As it stands, Monero has a daily inflation rate of 0.010019%, compared to 0.010046% for Bitcoin. Unlike Bitcoin—which halves its new supply of coins every four years—Monero’s issuance reduces day-by-day. That is, until 2020, where it flatlines at 3 new XMR every 10 minutes.