It’s hardly breaking news that the markets are down, again, is it?
As the bears continue to squeeze the life out of the markets, we are seeing value pour out of cryptocurrencies at a shocking rate. We might even see some new 2-3 month lows over the coming days should this trend continue and indeed, we do expect that this might be the case.
Of course, don’t let this bring you down. Whilst your portfolio might be looking a bit light, hold on for now because eventually the markets will regain some value. We don’t know when, but we know that it will take off before long.
Let’s have a look at today’s standings-
At the time of writing, XRP is valued at $0.43, down 2.64%. XRP has been on a slow decline for a while now, but thankfully it has managed to remain above $0.40, suggesting things aren’t as bad as they could be. Could we still see XRP hit $3.00 once again? Yes indeed.
At the time of writing, Bitcoin Cash is valued at $680.34, down 2.03%. Bitcoin Cash has sunk past $700.00 and is slipping back down into the Bitcoin 10% territory. Whilst this is a theoretical concept, when Bitcoin Cash sits near 10% of the value of Bitcoin, it seems to fall into a trap of following Bitcoins trend. This isn’t necessarily a bad thing, however going forward, it could stop Bitcoin Cash making tracks towards $2,000.00 on its own in the future.
EOS, at the time of writing is valued at $6.27, down 4.11%. EOS is struggling. It is a shame to see EOS riding so low since it did hit an all time high of over $20.00 not so long ago. After all that, perhaps EOS hitting over $20.00 was more of a mutation, than a reflection of its true value?
Litecoin, at the time of writing is valued at $75.40, down 2.38%. After news of a new acquisition yesterday in partnership with TokenPay, Litecoin was able to generate some value. Today however it looks as if the good run of Litecoin has already come to an end, back to reality in a world where Litecoin is unfortunately valued comfortably below $100.00.
It’s hard to remain positive at the moment, but we should seek some solace in history. When markets fall like this in the past, they always recover. We hope to see a similar repetition of the trend soon enough. Who knows what will really happen though.