The major cryptocurrency Bitcoin [BTC] dictates the pace for all other digital assets, thereby its momentum is of a great interest to several individuals. There are many assets that are performing on a great node offering good returns of investments and one among them is Eos [EOS].
Ongoing Bear Market & EOS Price Momentum
When it comes to several other cryptocurrencies, one needs to re-assure when the next consequent break-out is expected to occur. As for now, it looks unlikely any major changes are expected, one is ne’er so sure what the longer term can hold within this regard. For EOS, this ongoing bear momentum looks assuring, though there’s some bearish pressure on EOS/BTC pair as well.
To list everything within its correct perspective, the price of Eos [EOS] has gained 1.25%, now trading at around $5.45 USD. It’s not that way far away from the $5.5 USD benchmark, though one is never aware for certain if such “crucial” levels are often reached within the upcoming few days or weeks. What’s slightly additional worrisome is the dip of EOS/BTC pair of about 1.55%, that may eventually drive the worth right down to 0.001 BTC or lower within the coming future. This would be a worrisome development, though it’d not necessarily happen for some period of time to come.
On social media, there’s a lot of buzz of questions to flick through. Recently, ‘TrexCryptoMania‘ shared a noteworthy image that depicts additional growth of the Eos [EOS] dApp system, along with its trading volume and transactional volume for the past few week. All of these stats are spectacular in their own regard, but however they’ll not be having any impact on the price. Moreover for now, everything appear to be good regarding to the growth of Eos [EOS], while on the another hand Ethereum [ETH] looks to be falling-off all across the boards.
While comparing both Ethereum [ETH] and Eos [EOS] were prime performing cryptocurrencies within the past few week. However, Ethereum noted some huge losses additionally, whereas Eos [EOS] seemingly managed to carry its own quite well with none other major issues. How both markets can correlate throughout this week and the upcoming few months, might persuade be rather ‘interesting to watch‘.
However as for now, it looks Eos [EOS] is subjected to arbitrage opportunities on a short-term trading. As of today, there are many choices to explore within this regard, with profits hiking as 1.43%. Whereas this won’t necessarily be that appealing to a few traders, any profit is however a better thing rather having to deal with the ‘financial losses‘.
As the price of Eos [EOS] further moves toward $5.5 USD again, one needs to expect how things can go within the mere future. On the another hand, as long as Bitcoin [BTC] remains in the green section, it looks rather possible to assume all alternative top markets can observe in a very similar pattern. The overall cryptocurrency trading volume still remains on the lower side, but that isn’t deterring most of the markets at this period of time.