Cryptocurrency users around the world are thrilled to see the markets move in the right direction. That is good news for currencies which lost a lot of value, and one of such is EOS. The EOS price trickled all the way down to $8, after setting an all-time high at $18.05 not long ago. Restoring this lost territory will not be an easy achievement, but it seems the EOS price is gradually moving back up as we speak.
EOS Eyes $15 Target
The first of the golden rules of cryptocurrency is that one should never panic sell unless you are still in profit. Anyone that falls victim to panic selling at a loss is throwing money away (and has a weak hand). Cryptocurrency markets are inherently volatile, and a big dip follows every big rise. That dip is then followed by another steady rise, which is how things go every time. The EOS price is no exemption in this respect, even though a drop from $18 to $8(-$10) is quite steep in this regard.
More specifically, some people sold EOS at $8 or slightly more just a few days ago. Had those people held to their coins, they could now sell them for $14.4 each without doing much but by just being patient. Every old hand understood that all cryptocurrency markets would recover, regardless of what the Bitcoin price is at that time. In the case of the EOS price, it was only $4 removed from its previous all-time high, recovering over half of its lost value in just two and a half days.
Every time someone sells cryptocurrency, there is someone else buying it for that specific value. Anyone who bought EOS at price of below $10 will be in huge profit already, and it appears there is still a lot of room left for future gains as well. Although reaching a new all-time high may not occur quickly, it appears that the EOS value is poised to do so at some point in the very near future. Attaining a value of $20 isn’t far-fetched whatsoever, but the markets will remain unpredictable first and foremost.
Additionally, EOS has over $2.18bn in 24-hour trading volume, which is somewhat remarkable. A lot of altcoins would give an arm and a leg for this kind of size, but EOS seems to generate it without too many problems right now. If this trend continues, we will see the EOS price above $15 rather sooner than anticipated, and the market cap will eventually start to soar toward $10bn again. A fascinating situation worth keeping an eye on.
The vast majority of EOS trading volume – over 64.7% comes from the Bithumb exchange. Regarding how this exchange is virtually irrelevant to the rest of the world, it makes Huobi the largest exchange for Western traders. Their volume is very much similar to that of Bitfinex and Binance. Of these three platforms, Bitfinex is the only one with an actual USD pair to introduce fresh capital into this altcoin market. It is good to see a USDT pair was included.
Presently, it is still unclear what the coming days will bring for the EOS price. A price increase seems likely if this trend keeps up, but we may very well see a significant correction of all cryptocurrencies come Monday. It is virtually impracticable to make any sense of the cryptocurrency markets right now, even though the momentum is apparently in favor of prices going up soon. It’s not unlikely EOS may be one of the first altcoins to set a new all-time high after the recent Big Dip.