Bitcoin Hits $7,700, Bitcoin Cash Up 3% And NEM Flying High
The markets have taken a very welcome turn over the past week with cryptos flying high, Bitcoin dominance through the roof and an overall positive feeling towards the markets.
Whilst we havenât seen the bull run July promised, we are now setting up for a far more positive month through August. Given the current state of the markets, we are indeed now looking at Bitcoin hitting $10,000.00, XRP hitting $1.00 and possibly even Bitcoin Cash hitting $2,000.00 once more.
Of course, these projections are far from the perfect value of BTC, XRP and BCH but these projections at least put us in good stead for the latter half of the year.
Letâs have a look at the markets.
At the time of writing, Bitcoin is valued at $7,691.02, up 3.56%. Bitcoin has slipped below the $7,700.00 point that is brushed this morning but either way, Bitcoin is making good progression from yesterday. Moreover, Bitcoin dominance currently stands at 45.9%. As we know, when Bitcoin dominance rises, as does its price. When the price of Bitcoin rises, the rest of the markets follow. In short, weâre starting to get a little excited.
At the time of writing, Bitcoin Cash is valued at $814.58, up 3.28%. Bitcoin Cash is doing well to remain over $800.00 and now looks to be back on track to $1,000.00. As we enter August, if this trend continues we expect Bitcoin Cash to reach $1,500.00 with ease. Of course we are a way off this just yet, but hopefully we will see value start to rack up in the coming days and weeks.
NEM is reaping a very positive trend at the moment. At the time of writing, NEM is valued at $0.178, up 4.68%. As NEM is standing out as a bit of an independent cryptocurrency at the moment, we should go on to explore why NEM is seeing this slight surge. Whilst it might only be temporary, it is helping NEM move in the right direction towards $0.20.
Overall, we do expect this positivity to continue through the day. If it goes on through the week then next Monday, things could look very different indeed. Donât get too excited just yet, but we believe that the markets are about to get very interesting indeed.