BTC And LTC Find Balance, XLM And MIOTA Struggling To Maintain
After a very unsteady week, the markets really are struggling to level out the playing field. As it stands, everything is a little shaken up. After earthquake of a crash that started at the start of the week, we expect a number of aftershocks to continue to put pressure on a number of altcoins and Bitcoin too. Therefore, todayâs outlook no doubt resonates what we will see throughout the rest of this week and the weekend too.
Donât worry too much, the markets will recover from this, but at the moment I guess it is pretty hard to be optimistic. This bear grip is very tight, another sell off could be looming and overall, I donât think we are out of the woods just yet.
At the time of writing, Bitcoin is valued at $6,401.17, down 0.16%. Bitcoin has managed to remain above $6,000.00, but many are expecting a new bottom around $5,500.00 to be reached soon, therefore, I donât think Bitcoin is in a comfortable position just yet. Bitcoin dominance continues to fly though, at the time of writing, Bitcoin dominance stands at 53.4%.
Stellar is taking the biggest hit today. At the time of writing, XLM is valued at $0.215, down 4.96%. A lot of this will be down to correction from a week or so of very positive news that has helped inflate XLM a little bit. Even with this 5% decline in place, and even with a week of negativity, XLM is still up around 4% over a 7 day period, proving that whilst things look grim at the moment, in the grand scheme of things they could be worse.
Litecoin, at the time of writing is valued at $55.71, down 0.61%. Litecoin has found balance and is generally following the progression of Bitcoin at the moment. Honestly, Litecoin is very undervalued at the moment therefore $55.71 does present a good buy in opportunity. However do remember that we arenât financial advisors, whilst Litecoin is cheap, thereâs no guarantee it will ever move up past its ATH ever again. As it stands, thereâs no guarantee that it will see $100.00 ever again, either.
IOTA has fallen. At the time of writing, MIOTA is valued at $0.459, down 3.47%. Importantly, we must consider that a few days ago, the market cap of IOTA put the project in tenth place according to CoinMarketCap, now though as it stands, tenth place has been snatched up by Monero, with Ethereum Classic slipping into eleventh place, TRON in twelfth place, Dash in thirteenth and finally, IOTA, down as low as fourteenth.