A positive trend seems to have taken hold of the markets this morning as many major cryptocurrencies are well up over the past 24-hours. Much of the damage caused by the market decline at the end of June now seems to be settled and thus, we are finally seeing some value pumped back into the markets. This is not a recovery, nor are we about to enter a market surge, however at the very least, increasing values is good news for the bulls among us.
Let’s see how the markets stand-
At the time of writing, Bitcoin is valued at $6,685.81, up 2.54%. Bitcoin dominance remains at 42%. Bitcoin has now settled within the $6,500.00 region and is well within reach of $7,000.00. If this positive trend continues, we could very well see $7,000.00 hit over the weekend.
Ethereum, at the time of writing is valued at $476.79, up 2.53%. Ethereum is very much undervalued, however we could well see Ethereum breach $500.00 over the weekend, should this positive trajectory continue to pull the markets.
Bitcoin Cash is up, but it’s progression is marginal at the moment. At the time of writing, Bitcoin Cash is valued at $761.89, up just 0.32%. We would like to see Bitcoin Cash move past $1,000.00 soon, yet its current value suggests that this will only come through an awful lot of hard work. Bitcoin Cash is feeling some strain, hopefully this will be lifted soon.
At the time of writing, EOS is valued at $8.98, up 2.04%. We are watching EOS as this is a currency that likes to breakout first. EOS needs to be hitting values of around $15.00 and very much has the capacity to do this, so therefore, keep your eye on this one.
Litecoin, at the time of writing is valued at $84.84, up just 0.05%. Litecoin is experiencing a similar drought to Bitcoin Cash. Though we can’t see why Litecoin is moving so slowly, we should ask ourselves why it is moving slowly. This won’t last forever and should be temporary so hopefully, it’s nothing to worry about.
Overall positivity reigns today. Bitcoin Cash and Litecoin are up, yet only marginally, Bitcoin on the other hand is starting to lead some more upwards movements. As this is probably just down to a period of extreme volatility, we expect this trend to settle down soon yet if it continues over the weekend, we could start next week with a real spring in our steps.