So far this week, we have had a bit of a bumpy ride in terms of market movements and thus cryptocurrency values. Through the weekend, we saw some dramatic climbs as April drew to a close, through the start of May many currencies where looking very healthy indeed. As the week matured however, a number of currencies started to enter a decline.
Rumours of yet another Mt. Gox Bitcoin movement did arise in light of this decline, however, overall it does seem that it was most likely down to market correction. This afternoon, Thursday the 3rd of May, we are however seeing some big changes in market values, with some currencies starting to shoot up. Could this be the start of the next bull run?
Let’s take a look at the state of things.
At the time of writing, Bitcoin is valued at $9,387.22 and is up 2.98%, Bitcoin is making tracks towards $10,000.00. If we do see another bull run take over soon, we can be sure that Bitcoin will breach this mark.
Ethereum is valued at $752.59, up an incredible 11.19%. Ethereum is showing signs that it has finally broken the $700.00 resistance that it has experienced of late, we remain optimistic that Ethereum will float above the mark going into the weekend.
Ripple is valued at $0.871 and is up 2.72%. News has been quiet from the Ripple camp recently, or perhaps it hasn’t and actually, April just spouted out a lot more Ripple news than usual.
Bitcoin Cash is valued at $1,518.45 and is up 5.34%, further gains at this rate will see Bitcoin Cash hit $2,000.00 if another bull run takes over.
Further down the markets, IOTA is valued at $2.45 and is up 17.17%, still climbing towards $3.00, given the hype surrounding it at the moment, we could see IOTA surpass this over the coming weeks, peaking at $4.00.
Other notable movements in the markets at the moment come from Nano, Bytecoin and Ontology, all of which are up, 18.04%, 25.36% and 20.11% respectively.
Presented with these facts, I’m sure you will agree that things do look to be cooking up quite nicely. Experts had predicted that another bull run would take off in April, as we are now toe-deep into May, it seems that certainly wasn’t the case, however, given what we see here and the hype surrounding the bulls at the moment, we can’t write off the possibility that prices could surge in the coming weeks.
If this is the case, then we will see some very healthy prices indeed, with many currencies now coming it at around half the value they experienced in the January cryptocurrency boom, a bull run here could see those famous and sought-after values return once again.
Remember, this is not investment advice and the figures we see now could change in an instant. As the markets are so volatile it is always very risky to invest. You should continue to carry out extensive research before making any investment commitments, overall, just because things look good now, we can’t be fully confident that everything will stay this way.