At the time of writing, EOS stands at exactly $7.00, up 17.24% with a market cap of $5,507,756,216. Statistics that suggest finally, EOS has recovered from it’s beating in March and is moving closer towards $8 with every minute.
If EOS does reach the magic $8 mark, then it puts the currency at almost half of the way to it’s peak value of around $18 at the start of 2018. By teetering around the half way mark, EOS is showing that it has the capacity to recover from periods of down time very quickly.
To add some perspective to this, for Bitcoin to reach near it’s ‘half way to peak point’, it would need to reach a value of around $9500.00, similarly for Ripple, that would need to reach $1.90.
This is a healthy sign for EOS, and as I have mentioned suggests that it is setting a quick pace in the market, a quicker pace than its nearby rivals.
Obviously, no currency is out of the woods just yet, something that always needs to be remembered if you are considering buying in to some new investments. If EOS is rising at this rate, theoretically now would be a good time to invest for a quick short-term gain but unfortunately, this can never be guaranteed and honestly, I’m not sure the potential profit would be worth it anyway, we are only, nearly, at that half way mark remember.
If this confidence within EOS progresses throughout the week then the $8 is in easy reach and, as I have mentioned I think it is safe to say that now EOS has recovered from what was quite a dramatic downfall.
We saw EOS enter March at just over $8.50, before reducing by over half, to $4.01 within 18 days. From then EOS did see a quick rise to $7.29 but it failed to maintain this value, hovering at an average value of around $6.00.
Now for the first time in nearly a month, we are seeing EOS hit that $7.00 region with the promise to expand even further.
This is a currency to keep an eye on over the next few days. Indeed, EOS may struggle to keep up with the $8.00 target should it get there soon, but, any maintenance at that level would remain as a stark improvement and a solid display of recovery in light of the rough March EOS has since seamlessly dealt with. If EOS gets there and stays there, we are in for a treat. If EOS gets there and continues to grow, well that’s even better.