It’s safe to say that optimism has well and truly vanished. August is going to be started on a very negative note and the markets are down at the moment. On top of this, values seem to be falling and everything seems to be looking a little bit glum to say the least. Two weeks of more than positive movements seem to be coming to an end and now a lot of cryptocurrencies are moving towards the highs that they once had. You could even say that some of them are starting on their road to recovery and this week is currently showing a downwards pulse. This is dragging the prices down but you can’t really tell if the standings are down because of a heavy connection or whether there is something more serious happening behind the scenes. When you look at the future of the markets over the next few days, this will really start to tell you if that is the case or not.
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The problem here is that you have to make sure that this doesn’t get you down just yet. By the looks of things, August is actually going to be a really positive month. The point is that it is going to take a little bit of time for the bulls to take control but if you are able to wait this out then rewards will be reaped.
Bitcoin at the moment is coming in at $7,583.76. That means that it is down by 6.58% so far and this means that it has slipped right down from the $8,000 mark that it once had. A lot of people are concerned because it is now going below the $7,000 mark and it is important that you prepare yourself for this. Bitcoin’s ability to dominance however may be reflected in due course and this could be the case across other markets as well. The problem is that until this happens, the other markets are going to be down as well.
Ethereum is at $422.28 and this is also down by 6.20%. ETH is falling at a very similar rate to Bitcoin and this is to be expected when you look at how it has performed recently. Now it is looking as though Ethereum is going to slip down into the $300 territory once more but at the very least, the last two weeks have held nothing but positivity. They have helped ETH to take some kind of damage control and this drop may not be as bad as you would think. XRP at the time of writing this article is at $0.43. This is down by just over 1%. XRP isn’t crashing anywhere near as hard as ETH or even Bitcoin right now but there is no doubt that the positive announcements that have happened over the past few days have had something to do with this. The announcements have stated that Ripple are going to have a new CCO and they have also stated that Bill Clinton himself has a keynote speaking appointment at the next conference that they are going to hold. It’s safe to say that this could help XRP to skyrocket but at the least they are also helping to get some positivity back onto the market. They are also working to try and reduce the damage that has been done so far by other currencies as well and this is a very interesting point.