Market Update - Unsteady Day Ahead For Markets, BCH And ETC Fly, MIOTA Falls
The markets continue to exist within an uncertain limbo today. Values are changing but not in a good way, overall, everything seems to be very unsure. We canât see the markets heading in one unified direction, instead, values seem to be moving on their own. In essence, the markets are super volatile at the moment, itâs hard to keep track of what is going on and it's even harder to predict what will happen next. At the very least, let this serve as a reminder of just how risky cryptocurrency investment is.
At the time of writing, Bitcoin remains just above $7,000.00. Itâs safe to say the $8,000.00 dream is now but a distant memory, though Bitcoin is now back up, slightly, at 0.31%. Hardly an indication of a looming bull run though I am afraid.
Otherwise, letâs take a look at the standings.
Bitcoin Cash, at the time of writing is valued at $708.58, up 1.22%. Bitcoin Cash really is the definition of limbo. It seems to be stuck in this $700.00 region now and thus, will no doubt see a great deal of resistance if it moves closer to $800.00. We donât expect Bitcoin Cash to fly over the coming weeks, unless Bitcoin itself manages to pick up some pace too. Whilst it seems unlikely, this isnât impossible, so hold on.
IOTA, at the time of writing is seeing a significant fall, valued at $0.78, down 12.54%. It seems that some recent news stories have disappointed the IOTA community, leading to a crash in the value of MIOTA. We do expect a recovery from this, perhaps as early as this afternoon so hopefully, this is nothing to worry about. Overall though, this move in an already retracting market doesnât give IOTA a promising horizon to focus on.
Ethereum Classic on the other hand is flying.
At the time of writing, Ethereum Classic is valued at $18.92, up 9.25%. The recent Robinhood listing for Ethereum Classic has set the currency up for a bit of a surge. Stunningly, this seems to coincide with a looming Coinbase listing which promises to pump Ethereum Classic right up. This seems to be the start of a very positive few weeks for ETC. Remember though, if you do decide to invest, you should do so off your own back, as a result of your own research.