We are finally observing an exciting change within the markets today. After weeks of despair and decline, the majority of cryptocurrencies have seen a stoop in value that in turn, have knocked the optimism out of many investors. As the bears have taken over, significant values have been surpassed giving many people reason for concern.
Of course, we all knew this decline would be temporary, although many expected it to continue through the start of June. Thankfully though, just as we say goodbye to May, the markets are now starting to gain upward momentum.
Could June be the month for crypto?
Let’s see how the markets stand, at the moment.
Bitcoin is finally making progression. At the time of writing, Bitcoin is valued at $7,487.22, up 4.73%. Moving upwards away from $7,000.00 is positive, although we should expect to see some resistance when Bitcoin attempts to break $8,000.00 again. As it stands, we could very well see this happen this afternoon and should expect to see Bitcoin edge ever closer to $8,000.00. Going into June, hopefully, we will see Bitcoin comfortably over the $8,000.00 threshold.
Ethereum too is making progression. At the time of writing, Ethereum is valued at $563.93, up 7.64%. Ethereum has been very close to the $500.00 threshold, now, with this current trajectory it is now safely on the right side of this value, hopefully given the current health in the market, Ethereum will surpass $600.00 soon enough and may finally reach a path to recovery.
At the time of writing, Ripple is valued at $0.61, up 8.93%. Ripple does have a long way to go in terms of reaching a crucial recovery point (around $0.85) however, this current momentum at least sets Ripple in the right direction, headed towards that point.
This positivity continues through the market, with many other currencies making gains within double figures.
At the time of writing, Bitcoin Cash, Stellar and IOTA are all up over 10%, hitting gains of 11.47%, 11.58% and 15.16% respectively.
Even further down the markets, we see big movements from Bytecoin, ICON and Ontology which at the time of writing, are up 30.31%, 18.95% and 13.25% respectively.
Hopefully, from here onwards we will see this positivity last. At the very least, it makes a nice change to the familiar trend of backpedalling and diminished values. For now, keep an eye on the markets going through the afternoon. We could really hit the ground running as we move into June here and finally, investors may be able to sigh a breath of relief.