This morning, the markets are starting to look quite healthy indeed. June thus far has been a disappointing month. This is because we hit June with a real optimism, many experts had called for a new bull market which promised to see major cryptocurrency prices skyrocket. We have however seen the total opposite of this, with the markets plunging and, in some cases, hitting new two-monthly lows. As we start to edge closer to July, we are now starting to see some more optimistic movements within the markets, hopefully this current trend really is a sign of things to come. Soon enough, a market recovery could take over, pushing values up into July and setting us up for a very exciting month indeed.
For now, bear in mind this is not investment advice. Indeed, the markets look strong at the moment, but this trend is not guaranteed to continue, soon enough, we could see the markets take on yet another decline. Cryptocurrencies are volatile, therefore, whilst they are exciting, investment is carried out at one’s own risk.
At the time of writing, Bitcoin is valued at $6,767.20, up 1.66%. Bitcoin is now moving ever closer to $7,000.00, we shouldn’t be surprised if Bitcoin reaches this target over the weekend (given the current market trend). If Bitcoin does move over $7,000.00, we can expect the rest of the markets to follow.
Ethereum is valued at $540.61, up 2.83% at the time of writing. Ethereum has recently struggled to hold value. Clearly with its current value it isn’t out of choppy water just yet, although, as Ethereum moves closer to $600.00, we can start to discuss the prospect of a full Ethereum recovery. For now, though, this one remains in a bit of a tricky spot.
At the time of writing, Ripple is valued at $0.54, up 1.98%. Likewise, Ripple has struggled to hold value of late. Because of this, it has taken on some significant damage, however, we are pretty certain that Ripple will make a quick recovery, when the focus of the market moves towards higher value and greater momentum.
IOTA, TRON and Dash are all reeling in significant gains at the moment. In fact, at the time of writing, the trio are all up 1.64%, 4.19% and 4.49% respectively.
Ethereum Classic however is the real stand out cryptocurrency this morning. As it stands, Ethereum Classic is up 11.79%, moving ever closer to $17.00.
If this momentum continues through today and into tomorrow, we are setting ourselves up for an exciting weekend that promises to inject some life back into investments and back into markets on the whole. For now, though, it’s still early days and thus, we should simply continue to watch the markets closely.