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Breaking News / Cryptocoins / EOS

Could A Market Recovery Be In Full Swing Thanks To EOS?

For the first time, in a long time, the markets look to be making moves upwards. As it stands, these moves are quite limited however, subtle upwards movements are far more positive than big downwards movements, as we saw through yesterday.

Hopefully, this could be the start of a market recovery taking us through the weekend, although at the moment, we can’t guarantee that this will be the case.

Okay, we’re not in the clear just yet. Bitcoin and Ethereum are still down, however, the chances are we could see currencies pick up pace, assuming the current upwards movements are not simply down to correction.

What’s happening today?

At the time of writing, Bitcoin is valued at $7,540.32 and is down 1.63%. Overall, it looks as if Bitcoin has found a balance at around $7,500.00, this is far less promising than the near $9,000.00 figures we have seen of late, however, at least as it stands, Bitcoin has remained well above $7,000.00, some damage control looks to have been done with this. If Bitcoin starts to move upwards, we could see Bitcoin hit $8,000.00 once more, over the weekend.

Likewise, at the time of writing Ethereum is valued at $599.46, down 0.05%. Just sitting below $600.00 is not a good sign for Ethereum, however as its downwards path looks to be tailing off, we could see it move back over $600.00 with absolute ease, if this is the case, figures in the latter half of the $600.00 region would be good news for Ethereum through the weekend.

At the time of writing, Ripple is valued at $0.61, up 0.33%. Ripple is now starting to make a climb, how long this will last – we can’t be too sure yet, however, as Ripple has balanced above $0.61, a strong climb today could see Ripple hit $0.70 again by this evening. For now, we need to wait and see to truly assess the scale of this a current climb.

EOS is really starting to lead the market. Yesterday afternoon when the markets looked poor, EOS managed to climb up significantly, breaking away from the majority trend and forging its own path. We have commented on EOS’ ability to pave the way for the whole market previously and indeed, today, it looks as if EOS is setting a new trend for the rest of the markets to follow. At the time of writing, EOS is valued at $12.14, up 8.27%.

At the time of writing, positivity exists down the markets too, Litecoin is up 1.39%, IOTA is up 2.45% and 0x is up 5.62%. Granted, negativity is still taking the majority but as more currencies start to breakaway from this trend, we could see the markets enter a recovery phase, something that will indeed be welcomed through the weekend.

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Robert is a keen investor with a particular interest in cryptocurrencies. He has been involved in the industry for many years, and because of this, has gathered a lot of knowledge surrounding this area. He studied English at university level and has a passion for writing. He loves being able to combine his two mains interests on a daily basis.