Cryptocurrencies have had a good weekend, off the back of what looks to be a good month.
Obviously, the reason April looks so promising is simply because March was so dreadful. During this time, we saw all major currencies hit new lows. Track further back and compare this to the performance of major currencies in December 2017 and January 2018, then you might see April as yet another tragic month.
Is the glass half empty, or is the glass half full?
Well, as an optimist, i’d say we certainly look to be moving up overall and not the opposite. Although some downtime is obviously expected, you might suggest that we are almost, halfway there.
EOS really has set a trend over the past few weeks, I have mentioned this numerous times but I think it’s an important point. When EOS goes up, the other top currencies follow, when EOS hits a decline, as do the rest of the markets. Now, I can’t really work out why this is, i’m certain it’s mostly as a result of coincidence, either way it is an interesting perspective right?
Back to EOS. Over the weekend, we saw EOS take another leap in value, similar to what we saw a week previously with the onset of the mid-April market surge. In just one day, between the 20th and 21st of April, we saw EOS move from $9.39, up to $11.63. Just a week earlier, we had speculated upon just how incredible it would be if EOS matched $9.00, now look…
At the time of writing, EOS stands at $11.59 and is down 0.73%. What is frustrating about EOS is that during this weekend of peak performance, the value of the currency missed out on the $12.00 mark, not once, but twice.
EOS hit $11.75 and $11.76 on the 22nd of April on two separate occasions, calling into question the currencies ability to meet $12.00. Since it got so close, and since the markets where moving in its favour, it is tricky to understand exactly why and how EOS didn’t make the $12.00 cut.
Perhaps, $12.00 is EOS’ kryptonite, in a similar way Bitcoin just couldn’t move past $7,000.00, perhaps $12.00 really is a significant challenge for the currency.
If that is indeed the case, much like Bitcoin, EOS will get there eventually, it could just be a case of waiting it out, maybe EOS needs another bull run to help it over the finish line.
Regardless of this, EOS has made incredible progression over the past week, investors are very happy. The decline we see at the moment could be down to increased selling due to the regular high value of EOS. We hardly expected to see a breach of $10.00 this month, so the current $11.00 + value is making a lot of people, very happy.