EOS Price Gains 23% as its Trading Volume Nearly Doubles
There is absolutely no lack of bullish cryptocurrency momentum as of right now. All markets are seemingly flying off the handle in a positive manner. If the EOS price is any indication, things will get even more interesting over the coming days and weeks. Its strong gains push the price well beyond the $3 mark in quick succession.
EOS Price is Rising Quickly
It is always interesting to see how different cryptocurrencies, assets, and tokens handle bullish Bitcoin price pressure. For most projects, this usually results in net losses in BTC value, which can easily keep the USD-based gains in check. EOS is a rather interesting exception as of right now, as its bullish momentum is obliterating USD and BTC levels alike.
Over the past few hours, the EOS price has risen to $3.48 after a monster 23% increase in value. Although the EOS/BTC ratio is less bullish, the 13.5% increase cannot be overlooked by any means either. All of these signs show how things have evolved in this industry as of late. Its trading volume also sits at $1.77bn, which is very unusual for EOS.
While it is always advisable to keep a level head in this industry, one has to keep in mind this recent gain gets people genuinely excited. Fabi Yamada still expects EOS to hit $5 at some point. Based on the current value, the trading volume, and how easily these gains materialized, it might not even be out of the question either.
— fabi yamada (@mxYamada) February 18, 2019
Although cryptocurrencies are often very complex for novice users, there is a lot of useful information to be found on the internet. Soup shared a recent video as to how EOS works an what one needs to know in a nutshell. It is far from a complete guide to properly understanding every facet, but it is still worth checking out.
— Soup (@SoupMiner) February 18, 2019
Crypto Phenom seemingly doesn’t know how to make sense of all of this bullish momentum. Considering how EOS – among others – have seen a trading volume worth half of its market cap, it is evident the golden days of crypto are not that far away. Even so, one has to wonder how much of the entire crypto volume is real and how much artificial these days. For OS, most of the volume comes from Bit-Z and OKEx, which is interesting to keep an eye on.
$EOS and $LTC have turned over half of their entire float in the past 24 hours….this is quite bullish. Volume precedes price. Cryptos very likely put in bear market lows in December. #litecoin #eos $BTC
— Crypto Phenom (@PhenomInvestors) February 18, 2019
As has been the case in this volatile industry, uptrends are usually met with a fair bit of resistance and corrections. Whether or not that will spoil this party sooner or later, has yet to be determined. Anything is possible in this industry, but no one should get ahead of themselves because of a bullish day.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.
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