EOS Price Blasts Past $4 Amid Major Bullish Surge

It is not entirely uncommon for specific alternative markets to turn into “uber bullish” mode when Bitcoin is no longer losing value. However, it is a bit odd to see certain markets shoot up by over 10% as if there were no bear market in the past few days. Regardless of that train of thought, the EOS price seems to be moving up in a decisive manner once again. Surpassing $4 again is the first major milestone to be achieved.

EOS Price Trend Impresses Traders

When Bitcoin starts to regain its feet, all of the altcoins will usually follow that example to some degree. Certain markets will be less bullish, whereas other swills imply engage the pumps and begin firing on all cylinders right away. As of right now, EOS seems to fall into the latter category, as it is noting very strong gains in relatively quick succession already. This is visible across both USD and BTC alike, which will only further fuel speculation as to how high this market cap can rise in the process.

Over the past 24 hours, the EOS price has noted a strong 11.5% gain in USD value, pushing the price to $4.08. There is also a prominent increase in EOS/BTC following an 8.96% improvement. bringing the ratio back to 0.001 Bitcoin. These are very impressive trends, primarily facilitated by $2.542bn in trades. Everything seems to indicate this particular market will continue to move up throughout the day, although such strong gains are usually met with some form of correction sooner or later.

When looking across social media, there is a lot to get excited about as well for EOS. First of all, there are some big announcements coming to EOS in the near future which will be of great interest to developers and community members alike. Any cryptocurrency and blockchain project needs constant improvements to keep moving ahead, and this particular offering is no different. It remains to be seen if this will affect the market in any significant manner, as that is a completely different story.

The recently released Weiss Ratings seem to confirm EOS is still in the lead when it comes to global public blockchain solutions. Although the report does contain some minor factual errors, according to Jason Deane, the overall sentiment seems to indicate EOS is well ahead of most other projects available on the market today. While this report carries some weight, it remains to be determined whether or not there will be any real impact on the value because of it.

EOS New York, one of the many Block producers who make up this ecosystem, has recently noted how EOS has come up on top in virtually all of the major rankings these days. Additionally, some of the projects which have collaborations with EOS are also getting a lot of attention lately, While these developments are very promising first and foremost, it is evident the competing projects will put up a fight in the coming weeks and months.

Traders are getting very excited when it comes to EOS, especially when such strong gains can be noted in quick succession without too many problems. However, there is a good chance this momentum will be halted sooner or later, as a lot of people will try to cash out profits early and often until the bull market is effectively confirmed to be in place. Right now, that is not the case whatsoever, as Bitcoin’s run is still on very shaky foundations right now.

Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.

Image(s): Shutterstock.com

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