There have been some recoveries in cryptocurrency prices on August 20 as opposed to many digital assets performing badly in recent days. Cryptocurrencies like Ripple and Monero have been the biggest gainers in the recent times.
As mentioned, things have been good for digital currencies such as Ripple (XRP), Stellar (XLM), and Monero (XMR). The cryptocurrency prices for all these coins are up by around 2 to 5 percent over the last one week.
However, the last week was hardly positive for a majority of the top digital currencies. On Friday, August 17, several crypto asset markets along with BTC saw some encouraging gains since a big portion of the top currencies experienced spikes in the range of 10 to 20 percent.
On August 20, BCH or Bitcoin Cash’s market went down by 4.3 percent. The last 7 days also saw the cryptocurrency prices down by 2.2 percent. In fact, the USD/BCH markets valued per coin at 560 USD and a total market valuation of about 9.68 billion USD on August 20. The most prominent crypto exchanges, which swapped Bitcoin Cash the most, are Bitfinex, Hitbtc, Binance, Coinex, and Okex.
Final Verdict: Predictions Are Still Uncertain
At present, though prices are demonstrating some sorts of an improvement, there are many traders who opine that digital currencies will exhibit a bullish trend. In fact, most traders appear to be quite pessimistic. It is tough to expect the prices of digital assets go up as trade volumes have been gradually diminishing.
Plus, confidence levels at various quarters seem to have taken a blow during these last eight months that have been full of false bullish flags. For many, the price levels have been also degrading psychologically.
According to Bitcoin.com, there are some traders who believe that there is a significant support zone for the cryptocurrencies. This set of people feels that cryptocurrency prices are neither bearish nor bullish. More optimistic traders believe that the markets are showing a trend from being bearish to bullish.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]