The positive trend continues, now we must start to ask ourselves if a bull run is really imminent here?
As the markets continue to recover and move up to figures not experienced since April, we should start to look the implications of this. Since Bitcoin is currently paving its own way up, we must assume that the rest of the markets will follow suit soon, especially given that Bitcoin dominance currently stands at 46.7%. Whilst we can’t guarantee it, we do have a very good feeling here. The markets look like they could surge soon and if they do, prices will fly.
Please remember that this is not investment advice, we can’t guarantee a market surge, but that doesn’t mean we can’t plan for one.
At the time of writing, Bitcoin is valued at $8,001.14, up 3.95%. Bitcoin is making gains and has now passed the $8,000.00 mark. Finally, $10,000.00 is in sight. We must consider this – since Bitcoin is way dominant at the moment, it has the markets by the horns and therefore is now in a great position to pull prices up, marketwide. As Bitcoin makes its way to $10,000.00, the markets will follow, it’s as simple as that (though like we said, we can’t guarantee that Bitcoin will reach $10,000.00 from the outset).
Ethereum, at the time of writing is valued at $472.63, up 1.48%. Ethereum is still well undervalued, but at the very least it is now starting to move in the right direction, no doubt following the lead of Bitcoin. If a bull run takes off, prices of around $800.00 are not unrealistic for Ethereum and therefore as we move closer to August, we could begin to propose that Ethereum might even see $1,000.00 again.
Unlike its neighbours, XRP is struggling to actually progress. At the time of writing, XRP is valued at $0.455, down 0.38%. XRP is in tricky waters, riddled with lawsuits and of course, the on going Coinbase saga. Unfortunately because of this, we don’t imagine an XRP surge taking off just yet. Even if the markets do swing upwards, XRP might only reach $1.00. Obviously a far better price than we are seeing today, but way off the previous all time high of XRP at just shy of $4.00.