This post monitors and evaluates BTC/BCH market exchange rate and may highlight their possible effect on the Steem/SBD exchange rate.
Brief Market History
It is no secret that the BTC/BCH market exchange rate has been on a slide down since late last year. After having risen to almost $20,000 per BTC, it took a downward spiral where it currently dances in the neighborhood of $7,700 per BTC. BCH has also seen better days at almost $4,000 but, it now trades at less than $1,100 per BCH!
So, what could be responsible for the meltdown?
According to Forbes, the plunge might have been due to the formerly overheated market trying to gain some form of stability now. According to the publication, regulation and security will help restore market confidence and improve the currency and its appeal once more.
Current Recent Trend
A quick analysis of the current trend in BTC and alternative currency rates reveals a bullish turnaround for the month of June 2018, after bearing down many places in the month of May 2018. Observation of exchange rates also reveal high volatility in the market, market uncertainty in the past few weeks.
Market Expectations
With improvement in market security coming from the never ending development of the cryptocurrency market, one would naturally expect more stability against volatility in the coming few weeks. Be that as it may, the volatility may be a far cry from finding a resting point.
Bullish market tendencies may lead the cryptos to a gentle recovery/gain in June 2018, from May 2018. However, it is uncertain if such gain is sustainable.
Generally, it is expected that June 2018 might be a better month for the cryptos than May 2018 was. It is safe to say that the time has come to trust cryptocurrencies again. What do you think?
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