What’s The Deal With The Markets Today?
Four days into June and, just as we saw some market recovery over the weekend, correction seems to be the name of the day, dragging market prices back down. Whilst the downward trend is hitting the majority at the moment, it is important to note that many currencies are seeing the opposite effect, making slight moves upwards. This suggests that as it stands, the markets are due to swing back up, once this correction period has passed.
This is all very important. With a new month comes new optimism. When emotion drives the markets, optimism tends to mean positive movements, however, when these movements halt, optimism can diminish, therefore it is important to trawl through the standings in order to really work out what’s going on here.
Let’s do some of that trawling now, we might as well, since you’re here.
At the time of writing, Bitcoin is valued at $7,632.60, down 1.10%. Bitcoin dominance stands at 37.7%. Bitcoin is well away from the harrowing prospect of dipping below $7,000.00, as we saw during the end of May, however we might consider that Bitcoin isn’t in clear water just yet, until we see $8,000.00 breached again, Bitcoin is at risk of falling if the market decides to take a dip. For now, we remain in limbo about the state of Bitcoin, soon enough, positivity will reign again and perhaps we will eventually see $10,000.00 on the radar.