In order to expel the pessimism surrounding us at the moment, we are turning to some optimistic historical figures to see how EOS could react to a change in market direction. Interestingly, the last time EOS hit a figure of around $10.20, a few days later it managed to accumulate a rise of around 125%. Granted, this occurred in a market that would eventually surge upwards so therefore, we are in a slightly different situation at the moment, even so though, the potential for a spike is still there, so at the very least, we should explore what might happen, in the rare chance that such a market spike does occur.
Please note, this is not investment advice and it is just an analysis of past figures and circumstances. Cryptocurrencies are volatile, of course, the markets will move back up again but we can never guarantee by what proportion this could occur, nor can we determine when or how it will occur. If you decide to invest, be sure to do so based upon well researched justifications. Do your own research and really, you can’t go wrong.
At the time of writing, EOS is valued at $10.29. It is currently down 2.48% however, it is still managing to maintain a figure above $10.00, stopping below this would be especially bad for EOS. We should note that this has happened over the past few days (EOS dropped as low as $9.66) but it has since recovered from this.
On the 20th of April, EOS was valued at $10.14, and soon after, saw a brief balance at around $11.50. We could expect to see EOS move back up, past $11.00 over the next few days. If history wishes to repeat itself, then we could see a huge market spike take over after this point (once $11.50 has remained for a few days). The last time this happened, EOS eventually hit an all time high of $22.89 just a few days later, seeing a rise of 125.73% from its price on the 20th of April, just nine days later.
Though it is unlikely to happen, EOS has the potential to rise like this once again. Through an increased market cap and through its current popularity and momentum outside of the markets, if a cryptocurrency was to start a surge, we believe that EOS really could be one of them.