It’s Wednesday, therefore it’s the middle of the week, right?
How have things been looking thus far?
It’s been yet another turbulent week with regards to the cryptocurrency markets however in comparison to the previous few weeks, things do seem to be looking like they are beginning to level out. As it stands here’s the data for the top 5 currencies at the time of writing, please bear in mind that this could of course change in an instant.
*data from coinmarketcap.com
Ethereum looks to be racing ahead in terms of gradient, with Bitcoin Cash not so far behind, overall though the top end of the market is looking fairly healthy, or at least as healthy as it can be given the circumstances.
Bitcoin still looks to be struggling to reach that $7000 mark, a key benchmark in the currencies progression. If the current growth continues however, it won’t take long before Bitcoin surpasses this and of course, in that instance, we would expect the rest of the currencies to follow up.
Further down in the markets, the upwards trend seems to be the order of the day, as it has been every morning, yet today, this seems to be going on for a somewhat longer period meaning that maybe through the afternoon, we could see some significantly higher figures in comparison to last week. Ontology and ICON are moving well, at 15.47% and 13.20% respectively. Even internet sensation Dogecoin is making tracks this today and has seen some growth throughout the start of the week.
The star of the show so far this week has been Reddcoin, shooting up from $0.003 at the start of the week to $0.005 at present, on a climb of 28.50%, its market cap has also increased massively during this time to $150,015,324, something that should be getting some people quite excited indeed.
Well from here, as ever it’s hard to predict what will happen overall. Ontology seems to be continuing to grow and of course Ethereum is looking like a healthy mover. If things continue at this steady rate then whilst we may not see any ground-moving changes, we will see signs of progression, something that the markets desperately need right now.
Going into the latter half of the week, lets keep an eye on how things progress. There are a lot of big announcements due to be made by many different companies next week, announcements which will of course have a profound effect on the state of the crypto-economy. There are a lot of positives to take from this mind, perhaps finally, some recovery is in sight.