Market Update, XLM And MIOTA Fly As Bitcoin And Bitcoin Cash Find Balance
Are the markets starting to find balance, or is this just a temporary correction? As it stands, the past few days of positive movements within Bitcoin have finally come to a halt. This was expected eventually, as we know, the recent movements within Bitcoin have not been a part of a surge or a major bull run. Even so though, Bitcoin is still showing signs that it wants to pull the markets up, so at the very least, this small dip is nothing to worry about.
Elsewhere though, values are continuing to fly, though we do expect correction to catch up here too.
If anything, this morningâs markets are a prime example of volatility, letâs take a look at the markets.
At the time of writing, Bitcoin is down. Granted, it is only on a slight decline nonetheless. Bitcoin is valued at $8,227.77, down 0.29%. Bitcoin dominance is down too, from 47.2% to 46.8% at the time of writing. We are pretty sure that this current decline is simply down to correction and nothing more, however we should still keep an eye on Bitcoin through the day in order to gauge if something more serious is going on here.
Likewise, Bitcoin Cash is down too. At the time of writing, Bitcoin Cash is valued at $846.33, down 0.09%. Again, the decline is slight but it is worth nothing that Bitcoin Cash is down. Though we are still certain it is correction and nothing more.
On the other hand, a few major cryptos are flying at the moment.
At the time of writing, Stellar is valued at $0.344, up 14.68%. Stellar have made a few big announcements this week and seem to be cementing themselves as real competitors for Ripple and XRP in terms of cross border and remittance payments. It is also worth noting that Stellar has also overtaken Litecoin for market cap and currently resides in sixth place according to coinmarketcap.com.
IOTA, at the time of writing is valued at $1.03, up 3.92%. It looks as if IOTA is currently relishing in the positive pull that has been kickstarted by Bitcoin, therefore as the afternoon goes on we should expect correction to catch up with it. In short, IOTA isnât about to skyrocket just yet.