Market Update - BTC, ETH, XRP, BCH And EOS
This morning, the markets remain in a steady position after what was a devastating end to June. We have seen cryptocurrencies reach new 2-month lows, dipping beyond control and leaving the markets in a position of uncertainty.
Today, thankfully, it does seem as if some balance has been resumed. Negativity still reigns overall but at the very least, this negativity has been met with some positive price movements. Overall, prices are low, but, not as low as they could have been. Weâre not out of the woods just yet, but at least now we can be confident that July may see market values in a bit more of a positive light.
Letâs take a look at how the markets look today.
At the time of writing, Bitcoin is valued at $6,380.47, down 0.08%. Bitcoin had briefly slipped below $6,000.00, worrying holders and traders alike. At this point, we did expect to see Bitcoin face some resistance, however now it does seem that Bitcoin has recovered from this dive with ease. As mentioned, we are not in the clear yet, but at least Bitcoin is managing to hold some value. This will prove to be priceless if and when the markets take an upwards run in the near future.
Ethereum, at the time of writing is valued at $454.20, down 0.12% Ethereum is way undervalued at present, this however is simply an organic product of the current bear market. With Ethereum in an uncertain position, it needs to remain above $400.00 for the time being to ensure that any future bear markets cause less damage to the value of Ethereum, than this one has.
Ripple XRP at the time of writing, is valued at $0.45, down 0.23%. The decline of XRP is only slight, but this is a trend many XRP investors have gotten used to. One day, Ripple XRP will see $1.00, I guess for now this simply remains a spot on the horizon. At this point, itâs going to take a lot to get XRP up there, but at the very least, be confident in knowing that it will get there eventually.
At the time of writing, Bitcoin Cash is valued at $736.01, down 0.59%. Bitcoin Cash does seem to have moved up from the 10% Bitcoin trap and thus, Bitcoin Cash is now valued slightly higher than 10% of Bitcoin. As a result of this, we may very well see Bitcoin Cash pave its own way over the coming days and hopefully, it may perform better against Bitcoinâs negative impression.
EOS, at the time of writing, is valued at $8.04, down 0.03%. Hopefully we see EOS move back up towards $10.00 soon. Given the recent success of EOS, this is a currency that is now dreadfully undervalued. At the very least, this will no doubt inspire some buying, however, the threat that âEOS just had a lucky spellâ still looms, therefore investors may still be wary.
Overall, the markets are sitting quite plainly. We expected July to start off in this way and thus, for now, we will just have to wait and see how the values mature in the coming days.