After a slightly positive day yesterday, the markets have reset themselves on a steep negative trajectory once more. Of course, we didn’t see yesterdays progress as a sign of recovery, however we did assume that this positive momentum may have lasted a little longer than just a morning. Now, we are back in a familiar dip, with cryptocurrency prices sliding downwards and once more, no sign of liberation from this ever-tight bear market.
Now as we enter the weekend, we can only expect this price slide to continue as depleting value seems to lead the way. Indeed, if the current trend continues, we could very well see some major cryptocurrencies hit new two-monthly lows, a concerning factor considering that this has already happened once this month, a second new-low dip really would help make June a month to forget.
Let’s take a look at the standings.
At the time of writing, Bitcoin is valued at $6,593.44 Bitcoin is just clear of $6,500.00, but is on a decline, down 2.58%. Until Bitcoin breaks away from this trend, we can only expect the markets to continue to follow suit.
At the time of writing, Ethereum is valued at $507.60, likewise, Ethereum has maintained over $500.00, a critical target, but, Ethereum is on a decline too, down 6.16%. This steep momentum will surely bring Ethereum back down into the $400.00 region, a region it really needs to be way above as we enter the latter days of June.
Ripple, at the time of writing is valued at $0.52, down 3.87%. This speaks for itself really. Remember when Ripple nearly hit $1.00, and now it’s barely existing at $0.50?
EOS is taking a critical hit. At the time of writing, EOS is valued at $9.56, down 9.90%. EOS has now moved back into single figures. It’s certain that the incredible progression made by EOS in April and May has now been reversed. It has lost an awful lot of value and thus, investors are right to start worrying about this one.
Likewise, Litecoin is taking a big hit too. At the time of writing, Litecoin is valued at $91.87, down 6.13%. We must consider than values below $100.00 are very poor for Litecoin, now though, it seems it may even slip past $90.00, a figure that no Litecoin investor wants to see in reality.
The markets are down, values are falling and going into the weekend, it all looks a little depressing. Find some solace in the fact that this trend won’t last forever. We will see the markets take on some value soon, but for now, we must deal with what we see in front of us. Therefore, keep an eye on the markets and hold on tight. Unfortunately, we may be in this for a while yet.