The current price momentum does seem to favor the altcoins, rather than Bitcoin itself. Although the world’s leading cryptocurrency is also in the green, most of the price action is taking place well down the market cap rankings. Polymath is going through another small uptrend despite a recent market dip.
Polymath Price is on the Move Again
It has certainly been a very interesting week for all cryptocurrencies so far. Although no major changes have been recorded today just yet, there are some interesting trends taking shape. In the case of Polymath, it appears the decent market dip isn’t causing any long-term side effects. In fact, some of the earlier losses are being recuperated at this time.
Over the past 24 hours, Polymath has seen another 4.5% surge in USD value. There are also slightly smaller gains over Bitcoin and Ethereum, further confirming the altcoin is gaining a bit more traction again. Its overall trading volume currently sits at $5.2m, which seems relatively good given the project’s current market cap.
Behind the scenes, it appears Polymath is looking to expand its team. A recent job listing confirms the team is looking for a remote Senior Solidity Developer. While it remains a bit unclear what this person will be working on exactly, it seems to confirm Polymath will continue to grow and evolve over the coming months and years.
— Remotey (@Remoteycom) October 30, 2018
Traders and speculators are also keeping a close eye on the POLY price right now. CryptoRaider UK is confident the current uptrend is still in place and will result in even higher values over the coming days. A push to 5,500 Satoshi could be in play, albeit that would require enforcing another 20% gain.
— CryptoRaider.Uk (@TradinginTime) November 1, 2018
A similar market sentiment is echoed by CryptoPirate, who also keeps a close eye on this particular altcoin. This recent bounce after a major uptrend retracement confirms the altcoin is in a good place. While that does not automatically warrant another bullish jump right away, there is a good chance things will continue to improve for a few more hours to come.
— ☠CryptoPirate☠ (@Hawkeyehitchen) November 1, 2018
All signs point toward an ongoing POLY uptrend. Reaching a value of $0.3 in the coming hours seems plausible, as it wouldn’t even require that much momentum either. Sustaining this latest uptrend, on the other hand, can be rather problematic if the volume doesn’t pick up a bit. Additionally, Bitcoin still looks to be on wobbly legs, which usually spells short-term trouble.
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.