Over the past few weeks, we have made bold claims that EOS looked to be one of the first currencies on the path to topping it’s all time high against the US Dollar, the highest value for EOS, as recorded on the 13th of January, was $18.24.
This prediction, came off the back of a fantastic run for EOS, during which it managed to reach it’s halfway-to-peak point (at around $9) during the mid-April market surge. As a result of this, all roads for EOS seemed to lead up, and indeed, up it went.
Yesterday, on Sunday the 29th of April, EOS peaked at an incredible $22.86, the highest value ever recorded for EOS against the US Dollar. This is indeed significant. EOS is paving the way for a new rise in cryptocurrency and indeed, EOS has proved that even after a depression period, this currency has the capacity to bounce back, very hard indeed.
Just to apply some context to this saga, one month earlier on the 29th of March, EOS dipped as low as $5.95.
Of course, some of the excitement posed by EOS has been quashed over the past 24 hours. At the time of writing, EOS is valued at $18.34 (still significantly higher than it’s January peak), and, is on a decline of 15.74%. This decline is steep, it looks to be caused by a combination of correction and, as predicted, a bit of a sell off as a result of EOS breaching $20.00.
Now of course, this decline will only be temporary, and, given the correct climate we should expect to see EOS pick back up soon enough. It’s too early for a price prediction and indeed, investors are no doubt too excited for price predictions at the moment.
We must consider that this is probably a bad time for new EOS investors to get on board. Whilst the currency has a high market capitalisation it does of course have an upper limit. I’m not saying we are close to this limit just yet, but I am suggesting that while we are riding a high price with EOS at the moment, there is a chance the currency will stoop back down, perhaps not quite as low as we saw in March, any time soon at least, but in terms of buying EOS, better opportunities will be presented to the markets eventually.
Right now however, we just need to wait and see how high this currency can reach. EOS has shown it’s worth this weekend and really does have the potential to become a high value asset. People have made some great returns on their investment this weekend but let’s consider that this might not always be the case. Even great performing cryptocurrencies are volatile, be careful with your investments and trade safe!