It is increasingly difficult to find anything positive in the cryptocurrency industry today. Most markets down by significant amounts, although there is one major exception in this regard. Factom’s price, which has surged last week as well, continues its bullish momentum despite Bitcoin dragging everything else down.
Factom Price Continues to Soar in Spectacular Fashion
It is not a good day for the cryptocurrency industry by any means. All top currencies are losing value, and it seems there will be no improvement in sight whatsoever. One notable exception is the Factom price, which further confirms the future will be all about partnerships and working technology, rather than hype and political shenanigans.
In the past few hours, the Factom price shot up by another 28% in USD value and 34% in BTC value. Given Bitcoin’s bearish slump, those BTC gains are by far the most important aspect. It is also worth noting these recent gains push the FCT value to nearly $8, although that level should be overtaken fairly quickly. When that happens, the path to $10 seems wide open, depending on overall profit taking.
Social media is abuzz with talk about Factom, for obvious reasons. The TIE confirms Factom has a lot of social engagement right now, although it remains to be seen how that will effectively affect the altcoin moving forward. Its overall trading volume is definitely on the rise, which could have a positive impact on the FCT value moving forward.
In the midst of the crypto bloodbath over the last 24 hours, #Factom (#FCT) survived well. While the coin dropped initially, it recovered on a 574.44% increase in trading volume and now sits down only 1.27% over 24hrs vs. a 12.11% overall market losshttps://t.co/NTt8ZqZcpm pic.twitter.com/qnNAEroK8v
— The Tie (@TheTieIO) November 15, 2018
The major reason why the FCT price is rising right now is because of a new potential partnership with Equator Homes. For those unaware, this company focuses on homes for sale, real estate marketing, and technology solutions for real estate agents. It marks an important milestone for Factom in many different ways, and gaining any traction in this industry will be crucial.
Other projects are being developed regarding Factom as well, by the look of things. The new video known as “Off Blocks” is quite intriguing, as it highlights the potential of Factom’s technology as a whole. Although commercializing this project may not be easy, there is a bright future ahead regardless. All of these developments appear to warrant the current Factom price increase first and foremost.
— Factoshi (@factoshi) November 18, 2018
Given all of the negative pressure across the cryptocurrency markets, it will be interesting to see what the near-term future holds for Factom. There is genuine excitement regarding the underpinning technology, but it is evident the negative market momentum will drag FCT down a bit. For now, things are still looking good, but there will be a price dip sooner or later.
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.