As we enter the middle of the week, the crypto markets are continuing to fall. Since yesterday alone, major cryptos have lost an awful lot of value and as it stands, the fall is set to continue through the rest of the week.
We are expecting to see a similar to trend to what we have seen over the past few weeks. Prices will bottom out to new lows and then prices will spike again through correction. After this, the negative climate will take hold again, etc etc.
It’s boring, it’s repetitive and it is what we are seeing at the moment, so it’s what we have to deal with.
At the time of writing, Bitcoin is valued at, $6,387.10, down 4.38%. Whilst Bitcoin is still maintaining above $6,000.00, even a small decline from here on will see Bitcoin slip past $6,000.00 by the weekend. On the other hand though, Bitcoin dominance continues to rise. Bitcoin dominance at the time of writing stands at 43.5%.
Stellar, at the time of writing is valued at $0.18, down 6.12%. Stellar is on a heavy decline at the moment, this is simply down to the state of the markets though and nothing more.
Likewise, TRON is falling too. At the time of writing, TRON is valued at $0.03, down 4.33%. The bad form of TRON seems to have continued for two months now. Even so though, TRON still stands strong in terms of market cap. At the time of writing, TRON stands in 11th place, just behind Tether.
Monero, at the time of writing is valued $124.14, down 3.07% so again, Monero is suffering from this retracting market, just like the majority of other cryptocurrencies.
As ever, we will keep an eye on the markets to watch out for indications of further declines or perhaps even a market surge. As it stands though, the latter seems unlikely today.