Crypto Markets Retrace Slightly but Hold Firm

crypto marketsAfter a somewhat positive Monday, the cryptocurrency markets again experienced a decline, with all major currencies losing value. Bitcoin dropped slightly below the $7500 mark dragging some currencies with it. This situation has been almost consistent over the past month with a longish bear market and Bitcoin consistently stuck in the mid to low $7000 levels.

Bitcoin Cash also experienced a decline, although this was not too marked since the coin had gone up quite considerably over the past days where it had traded at almost $1150. At press time, BCH was at around $1065 and holding well at that level.

Elsewhere in the markets, Ethereum experienced a slight decline and ceded the $600 mark to drop to around $585 at press time. Consistent positive news has surrounded both currencies of late, and it should only be a matter of time before their adoption will continue to improve their prospects.

Ripple appeared to be holding quite well at the $0.6, but selling pressure put the price back to the $0.65 level momentarily before again regaining the $0.67 mark in the afternoon. Litecoin fell slightly to trade at $117 at press time.

As the main net is now past, EOS began a slight revival and was trading at around $13.70 at press time – a full 20% down from its intra-month high of $15.50. Other currencies from the smaller market cap scene also suffered slightly, although the drops were not too marked. Stellar was the biggest loser as it was down 6%, while NEO also lost ground by about 4% to trade at $53 at press time. Dash remained more or less at the same levels with a 2% decline, while Ethereum Classic dipped below the $15 mark to trade at the $14.80 level at press time. Cardano and IOTA continued shedding the gains made over the past week to drop to $0.20 and $1.69 respectively.

Jay is pretty interested in the crypto space. He’s written for several publications on the topic and has lots of ideas on how the world can be made a better place with blockchain technology. He’s also a fintech journalist with some years of experience and enjoys writing about new startups, ICO’s as well as any other intriguing news that catches his fancy.