As the good news continues and as the markets continue to rack up value, we are seeing new two-monthly highs topping the markets. This slight surge is bringing cryptocurrencies up to a far healthier position in time for a new month – August, a month that looks to be the most positive yet for cryptocurrencies in 2018. With a potential bull run on the horizon, investors are starting to get excited, rightly so too.
Please however do remember that the markets are still volatile. Yes, things look great and the markets look to be up, but overall volatility still rules and honestly, what we see today could of course come crashing down in an instant. Therefore this is not investment advice, do your research and read widely. Of course, this can help to inform your decisions and bolster your portfolio but you as a trader are responsible for your investment decisions. Read well, research hard, trade safe and reap the benefits.
Let’s have a look at today’s standings.
At the time of writing, Bitcoin is valued at $8,278.92, up 3.51%. Bitcoin has reached a very steady rate of climb that it has held for a number of days now. As Bitcoin sits deeper into the $8,000.00 realm, it cements its value and of course, is laying down some solid defence against any future falls or declines. Moreover, Bitcoin dominance continues to rise, at the time of writing, Bitcoin dominance sits at 47.2%. With dominance up, it’s safe to say that any imminent surges within Bitcoin are sure to pull the rest of the markets up too.
EOS is having a great time at the moment. At the time of writing, EOS is valued at $8.55, up 5.62%. We know EOS is still well undervalued, if this trend continues though, EOS could soon be back in double figures. A healthy price for EOS is $18.00. With the current bull grip in full force, finally this price is once more a reality.
Stellar at the time of writing is valued at $0.304, up 3.09%. Stellar is experiencing a surge as a part of the organic market direction. Most importantly, last week Stellar has overtaken Litecoin for market capitalisation and has thus far maintained that position. On the other hand, Litecoin is down 0.54%, suggesting that actually, something more sinister could be happening within the Litecoin camp that could be contributing to this sudden downturn.
We will continue to watch the markets through the day. Bitcoin is a great indicator for the future at the moment as a result of its rise in dominance. Whilst we can’t predict what will happen, we are pretty confident that soon enough, we’re going to see some big changes in these markets.