Most of the current cryptocurrency price momentum seems to indicate major gains loom on the horizon. Especially when it comes to the altcoins, things are heading in a very interesting direction right now. Populous, for example, notes very impressive gains across the board and is now on the verge of entering the cryptocurrency market cap top 50 once again.
Populous Price Gains Popularity
It is always interesting to see how a smidge of positive momentum sparks major altcoin rallies. This week has not been any different in this regard, even though there is still a fair sense of unease as far as cryptocurrency trends are concerned. These markets are not out of the woods by any means, although there is nothing to be overly concerned about as of right now.
In the past 24 hours, the Populous price noted a strong 11.5% uptrend. Because of this gain, the price per PPT has risen to $3.84 again, and it seems the altcoin should remain above $3.75 for the foreseeable future. There are also strong upticks in BTC and ETH value, further confirming the demand to trade PPT is on the increase.
The social media sentiment surrounding Populous seems to indicate this may just be the beginning of what is yet to come. Bobcat Crypto confirms he successfully closed a buy trade with a healthy profit of 30%. Noting strong gains in the span of under two weeks is one of the reasons why so many people are drawn to cryptocurrencies in the first place.
BUY trade for $PPT (Populous) opened on 9/27/2018 4:25 PM has been closed at a PROFIT of 30%. Trade opened on Binance (https://t.co/oa9VR8p9HD) at BTC 0.00046866. Trade closed at BTC 0.00060926.#PPT #Crypto #Cryptocurrency #Binance #Populous
— Bobcat Crypto (@BobcatCrypto) October 9, 2018
Despite the current uptrend, there are some traders who express concerns over the trend’s longevity. In the case of KryptoKanapi, they are confident PPT has been overbought significantly, which could lead to a brief correction in the coming hours. So far, no major dip has materialized yet, but remaining cautious seems more than warranted.
Populous/Bitcoin $PPTBTC up 16% but in overbought territory in 4-hour chart. Possible inverse head and shoulders in the making. #cryptocurrency #Crypto #cryptotrading #cryptotwitter #PPT #populous pic.twitter.com/c4FAB2mV56
— KryptoKanapi (@KanapiKrypto) October 9, 2018
As is usually the case when altcoins become popular, there will be some form of a scam making the rounds. In the case of Populous, there is a new scam e-mail making the rounds telling users they can earn dividends by using a specific wallet. To date, any product offering dividends at a fixed rate per year is usually a scam, especially if that involves using a proprietary cryptocurrency wallet. Beware of such emails at all times.
— El Guapo (@ElGuapitan) October 8, 2018
Given the current circumstances, it would appear things continue to move on up for Populous in the coming hours. One has to keep in mind big gains usually lead to profit-taking and a small dip. How this will affect the Populous price exactly, remains to be determined. A push to $4 is not unlikely, although the relatively low trading will need to be improved upon to make that happen.