This morning we awake to some very positive movements within the markets, with a number of cryptocurrencies starting to enter quite steep climbs. As it stands, it’s probably a bit early to say why this is happening yet but there are a number of different things that we are able to consider.
Firstly, this could just be a case of the markets balancing back out again after a few days of negative movements. Secondly, we could consider that this climb is the start of a bull run, indeed this may be the case, especially if we see the trend continue at this rate throughout the day. Or, finally, there could be something far deeper going on that is pushing the markets up (think mass investment or something similar).
What ever the news is, as it stands, the markets are looking healthy, that’s the main thing here. Let’s take a look at how the markets stand this morning then:
At the time of writing, Bitcoin is valued at $7,627.76, up 2.47%. This climb is not huge by any means; however, it is keeping Bitcoin over $7,500.00, a crucial target for Bitcoin. If this trend continues, we could very well see Bitcoin at $8,000.00 by the end of the week.
Moreover, Ethereum has managed to tip a critical value too. At the time of writing, Ethereum is valued at $608.22, up 2.04%. Thus far, $600.00 has shown some resistance, hopefully this time round Ethereum manages to breach it for the long run.
Ripple is moving up towards its $0.70 target. At the time of writing, Ripple is valued at $0.67, up 2.37%. Not a huge climb as such, but, if it continues, we’ll expect to see Ripple in amongst the $0.70 region soon enough, assuming it doesn’t face a lot of resistance at this level.
Both Bitcoin Cash and EOS are moving up at impressive rates. At the time of writing, Bitcoin Cash is valued at $1,134.88, up 4.93%. Likewise, at the time of writing, EOS is valued at $14.04, up 4.03%. In due time, we may very well see Bitcoin Cash and EOS hit their respective targets of $1,500.00 and $15.00, should this trend continue.
Further down the markets, green is the colour of the day. Binance Coin and Ontology are seeing particularly high rises, up 11.08% and 9.50% respectively, at the time of writing.
As you can see, positivity is leading the way. As I have said, we can’t guarantee that this will last, so enjoy it while it’s here. The bulls could be very well back in control and indeed, perhaps the markets are about to surge. For now, let’s wait and see what happens.