Theta Still Down, But Is It a Good Buy?

As the cryptocurrency market looks like it may be starting to come back, traders are looking at the performance of a number of digital coins as potential investment options. As of this writing, the THETA/USD prices at $6.94, down 2.82% for the day.

Theta reached a high of $7.46 already today, still down from Monday’s high of $8.75 and the monthly high of $9.79. This cryptocurrency has had great difficulty recently in breaking through the $10.00 ceiling, which it hasn’t done since last month. In February and March of this year, Theta was regularly trading between $13.00 and $14.00, but like all cryptocurrencies, it had a slump in May that has seemed very difficult to come out of.

Investors sitting on a lot of cryptocurrency are hoping to see a bullish surge help pull the market back from this downward spiral. There’s talk of a market crash and, of course, plenty of conversation about the downward trend levelling out and staying low for some time before it ever reaches back to those March highs.

Cryptocurrencies bounced back a few times this year, showing extreme market volatility for Theta and many other crypto coins. What we’re seeing with Bitcoin and some of the major players are a lot of reports about how the bearish behavior is slowing. The downward trend seems to be tapering off, but does that mean Theta and other cryptocurrencies are headed for a price spike? It’s happened before, but this last month seems like uncharted, unpredictable waters for the cryptocurrency market.