Theta Is Looking Bearish, but Not Every Crypto Is a Loser
Theta (THETA/USD) is selling at $5.59 and is down 26% over a 24-hour period. It is not looking any better when studying the seven-day Theta chart, which shows a 37% drop.
Theta did manage to hit $7.68 within the last 24 hours, but it did not stay there for long. Anyone looking to buy Theta to make some kind of profit right now may want to focus solely on day trading. There is some chance to catch a break temporarily before the market continues to plunge further. It looks like anyone trying to trade from day to day or week to week is going to lose out, though.
The Wider Crypto Market
Across the board, cryptocurrencies are down, including the major cryptos like Bitcoin, Ethereum, and Dogecoin. Theta ranks #13 overall and was considered a safe investment just a couple months ago.
The crypto currency Dero (DERO) is one of the few digital assets that’s made any gains over the last 24 hours. This one has done surprisingly well, rising 31.55%. The only crypto even close to that is Kyber Network (KNC), which managed to increase by 7.55%. There were only a few other gainers in that 24-hour period, and this has been the story for a lot of the cryptocurrency market over the past couple weeks.
Any gains seem to be followed by quick bearish trends, indicated an overall downturn for the market. The vast majority of cryptocurrencies available have not seen any positive change over the last week when looked at over a seven-day period. To many, this indicates an impending market crash.
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