In the cryptocurrency world, there is never such a thing as stable ground it seems. Although most markets seemed ready to move up again yesterday night, things have turned out very bearish. The EOS price is a good example of this souring trend, as it is quickly losing ground across the board.
EOS Price Dips Hard in Quick Succession
It is never a good sign to see the top crypto markets open in the red on a Monday morning. While this may not be an indicator of what is yet to come later this week, everyone can see the bear market is far from over at this point. Despite some promising signs in February, it seems March will bring a lot more pressure for no apparent reason. This does not bode well for Bitcoin, nor for any of the alternative markets.
As far as the EOS price is concerned, it seems the pressure is mounting quickly. With a net 6.5% drop in USD value already locked in, today could get very ugly for the top markets. This discrepancy pushes the EOS value down to $3.32, which might not be the bottom by any means. There is also a 4.4% loss in EOS/BTC, which is perhaps even more worrisome. Maintaining the 88,000 Satoshi threshold will prove incredibly challenging if this trend keeps up for a few more hours.
One thing that can easily turn the situation around for EOS is its high trading volume. Even during the weekend, EOS had seemingly plenty of liquidity to go around. Today should be no different in that regard, although it will mainly depend on whether or not traders want to just sell or also look to cost-average down their investments. If the latter comes into play, this dip might be short-lived after all.
On social media, Unlimited Tower continues to try and attract positive attention for EOS. The entity recently partnered with DexEOS, which is a decentralized exchange built on top of EOS technology. Although this partnership is a pretty big deal, it may not necessarily affect the end user right away. The ongoing growth of the EOS ecosystem cannot be denied, but that doesn’t mean the price will respond in mind.
Introducing our new partner @dexeosio —The world's first EOS-based DEX. Beyond listing our in-game UTG token, DEXEOS provides us with full support in consulting and marketing of Unlimited Tower!⚔️ #EOS #NFT #UTG #dApphttps://t.co/D3UlWyPKWC
— Unlimited Tower ⚔️ (@UnlimitedTower) March 4, 2019
There is also some community excitement regarding the “upcoming public roadmap” hinted at by Daniel Larimer. No one knows for sure whether or not this roadmap will impact the market in a positive manner, but it certainly gets people talking about EOS once again. It has been a while since a public plan of approach was presented by the EOS team, thus it is only normal people want to find out a bit more in the coming days and weeks.
Dan shared in the telegram that 'A public roadmap will disclose everything we have been and will be working on. A date has been set. 'The news excited the community. we all look forward to the roadmap. 😉 pic.twitter.com/vfY9Muvqsl
— MEET.ONE (@MeetDotOne) March 4, 2019
Although all of the market signs seem to confirm things are not looking good for EOS, everything is going rather smoothly behind the scenes. The public roadmap can trigger some market movements, either for better or worse. However, until Bitcoin shifts gears again, it seems unlikely any market will escape its gravitational pull into bearish territory.
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.