It’s a bad day for crypto. The markets have crashed and are leaving behind empty shells that were once filled with value and optimism. We had hoped for August to be a truly positive month, helping us regain the losses encountered over the past few months.
The truth though – August is looking to be the most negative month we have experienced since the boom. Values are down and crypto is falling. I suppose though there is one good thing to take from all of this, values are low.
The markets will recover from this collapse, that’s for sure. The thing is – we can’t tell when or how things will pick up again. Therefore as investors, all we can do is simply watch from the distance. Keep an eye on your assets and watch how they perform. Watch the headlines for signs of a bull run and keep your heads up. If nothing else, what we see today is all a part of the fun and love of crypto.
Let’s take a look at the markets
At the time of writing, Bitcoin is valued at $6,066.37, down 5.99%. The fall of Bitcoin is only minor in comparison to the rest of the markets, though it is still at great risk of dropping into deeper territory now. Bitcoin dominance is up once again. At the time of writing, Bitcoin dominance sits at 53.7%, this climb promises great things for the future.
At the time of writing, Ethereum is valued at $270.42, down 15.63%. Ethereum is on a heavy decline and could well slip past $250.00 today. This is an incredibly low price for Ethereum and I suppose it does present a good time to buy in for some investors. If you are so inclined, remember to do your research and remember that any buy ins are risky, even with such low prices.
At the time of writing, XRP is valued at $0.26, down 13.25%. This is an incredibly low price for XRP. One day, we hope to see XRP reach $3.00, today though, this target seems almost impossible. XRP is taking on big losses at the moment, this is down to the organic market trend, but we must also remember that the lawsuits against Ripple are still having an impact on this currency.
At the time of writing, Bitcoin Cash is valued at $501.16, down 14.07%. Again, Bitcoin Cash is taking on a huge decline. Even more importantly, Bitcoin Cash is now below the 10% of Bitcoin marker. Within this region, Bitcoin Cash is especially susceptible to Bitcoins movements, so, if Bitcoin does start to climb again (as its current dominance suggests) we could well see Bitcoin Cash shoot up too.