Underdog currency Ontology has seen a steady rise recently. Amid universally decreasing values, Ontology has stood the test of time. Stunningly this morning, Ontology is up by 43%, with it’s value expected to continue creeping up throughout the day.
In the wake of Twitters official statement yesterday, in which it outlined a plan to stamp out cryptocurrency advertising, including the promotion of exchanges and wallets on its platform, many of the big currencies saw a decrease in their value. Currencies like Bitcoin took the brunt of this, their resilience however means that I expect this decrease only to remain as a temporary result of Twitters announcement.
It’s interesting that with all of this going on, Ontology has taken such a big spike. You would expect that as the bigger currencies tumble, the smaller ones might make some gains, for example Steem, up by just under 0.2% and Nxt up by just under 1% but Ontology’s 43% climb certainly stands out above the others.
I do think the announcement from Twitter has a lot to do with this. When currencies drop, a masking effect occurs, people stop paying attention to news about them because as a currencies value drops, it can confirm fears investors might have about these currencies. This makes way for the smaller currencies to step up a bit. With so much attention on Twitter, Bitcoin, Ripple etc, a huge gap has been left in the system. Recently Ontology has been on a steady rise anyway and something was always going to fill the gap in the ‘system’, it just seems that this time Ontology has won the race to get there.
The volatile nature of cryptocurrencies means that unfortunately, Ontology might not continue to grow at this rate, on the other hand though the volatile nature of cryptocurrencies means that it might very well continue to grow at this rate, realistically there’s no telling. This spike also isn’t unusual for the currency, at the start of the month Ontology was valued at $3.07, today it sits at $2.71 so there’s a way to go before it surpasses it’s potential.
The advice from experts is to hold on, they have spotted a trend and it does seem positive, the only thing to do is to wait and see where it goes, one thing is certain though, if it does continue to grow at this rate, this adds a whole new dynamic to the markets.
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