After a rather disappointing end to the last week, this morning is seeing some very healthy movements within the markets. The general consensus is green, offering a much more promising and optimistic outlook for the week. Fingers crossed, this one lasts and provides small steps towards a recovery of some description.
Here’s a quick summary of the top 5 currencies this morning (9th April) according to Coinmarketcap.com:
Overall, a very promising scene compared to what we have been faced with during the start of this month. I must note that this trend continues across the market as an entirety and the positive climbs are not reduced only to the top 5 currencies, just , I’ll be here all day if I list how every currency is doing, and we don’t want that because I’ve got lots to write about!
Of course, there are some coins and tokens finding themself in the opposite position this morning, further reiterating the volatility of the cryptocurrency market. This will be something to watch throughout the day before we can start to look into whether this is down to just a short blip, or if it is an indicator or something more serious.
What’s our forecast for today and beyond?
It’s hard to nail this down isn’t it. Just when you think a recovery is underway, values start moving backwards. So, we can’t say for sure if this is a sign that a recovery is inbound. This time last week, we all awoke with a similar sense of optimism but by Friday, things had regressed somewhat.
In the pursuit of positivity though, I would like to suggest that even if this period of upwards trends is temporary, it provides some comfort to traders who have bought in recently in that it acts as a display of hope, one day, eventually this trend will extend itself. And to those who bought in a long time ago, who are waiting out for a big one, well your time will come eventually, that’s what the markets are telling us today.
Keep your eyes on the prize as the markets change today, hopefully a recovery is inbound soon, unfortunately though, only time can tell.