The markets still can’t shake off the grip of the bears. Over the past few weeks we have seen retraction after retraction, values are down and with it, so is enthusiasm. June promised to bring us salvation but now, as we enter the latter half of the month, all we see is negativity built upon negativity.
Of course, this won’t last forever, soon enough we can expect the markets to rise again, for now though we can’t really see when this will happen and when that breakaway point will be. I’d suggest you buckle down for more news like this over the coming days and weeks. Sadly, if this continues we could see the major currencies hit lows beyond those seen over the past few months.
What’s the damage so far then?
At the time of writing, Bitcoin is valued at $6,474.53, down 1.42%. Bitcoin is teetering around $6,500.00 but in the grand scheme of things, this isn’t good enough, especially considering that by now, many investors did hope for Bitcoin to smash past $10,000.00. What we do know is, Bitcoin has the capacity to lead. At the time of writing, Bitcoin has a market dominance of 40.1% and therefore when Bitcoin makes a recovery, the rest of the markets will follow. Keep an eye on this one, hopefully soon enough we see Bitcoin start to make more promising movements.
Ethereum, at the time of writing is valued at $497.22, down 1.44%. Ethereum can’t seem to keep hold of that $500.00 figure, resistance is very much in charge here and thus, Ethereum is going to need more than a little bit of luck going forward, if it wants to move closer to its previous reign past $1,300.00.
Ripple is on a more significant decline. At the time of writing, Ripple is valued at $0.518, down 3.34%. At this rate, we can only expect to see Ripple swing back into the $0.40 region, a region it has thus far avoided. Any notion of Ripple reaching $1.00 soon has now been well and truly extinguished.
A number of major currencies are also taking on much larger losses than their neighbours. At the time of writing, EOS is down 3.92%, Cardano is down 3.35%, IOTA is down 3.47% and Dash is down 4.10%.
Some positivity does exist further down the markets, at the time of writing, Binance Coin is up 3.48%, ReddCoin is up 13.82% and Mithril is up 9.87%, though these examples are very much against the grain and must be as a result of organic news within the respective camps.
For now, we will continue to watch the markets, hopefully we see some more positive changes creep over the horizon, overall though, we can only expect this decline to continue, for now at least.