Major Digital currencies are at risk of falling below the large value
Another dark day for digital currency markets, And with most of the digital currencies falling for another day in a row. With little control over the damage, Many of the major digital currencies are in danger of falling below the large values, which provide some resistance when markets decide to rise again - which is likely to happen eventually.
The downward trend has dominated the markets since mid-May, and now as we approach the end of the month, we should consider next month to introduce some liberalization, as we saw at the end of March and early April. What we are trying to say here is simply: Do not lose hope, optimism will come sooner or later. We are seeing a lot of selling going on now, and I'm looking at it, and I'm looking at some of the institutional investment that is riding the wave of markets. We mean investments that can push markets back up and move in the right direction.
Bitcoin has fallen below the $ 8,000 threshold and continues to decline. At the time of writing, the value of the Bitcoin was $ 7,211, but if the Bitcoin continued to drop further and reached numbers within the $ 6,000 range, it would have devastating effects . The last time it happened, the Bitcoin saw some real resistance as it moved above the $ 7,000 barrier, and it was cumbersome and frustrating. We hope that this will not happen again.
On the other hand, the currency of Ethereum also fell below its large value again. At the time of writing, the value of the etherium was $ 528. We have previously written about why Ethereum may be taking a strong hit at the moment, Especially as its decline is higher than that of its peers, the Bitcoin and the Ripple.
The Ripple is also now on the verge of a decline to the $ 0.50 area. At the time of writing this report is $ 0.571. The decline may be a slow pace at the moment, but if this trend continues in the same pattern, we may see the ripple fall to about $ 0.50, which is half of the gains made earlier this month. Given that the $ 1.00 price is no longer in sight, Ripple can struggle to recover from it anytime soon.
As you can see, digital currencies go through bad days. We will continue to see that decline. And remember well that after every drop there has to be a rush (is not that the famous saying?) And we expect the market to rebound soon, albeit by necessarily correcting. When that happens, do not let it dominate you. Things are more volatile at the moment. With the markets performing vaguely, this is the time to do some personal research into the available data and make the right decisions.
