Holo Price Continues Bearish Trend Following Fresh 15% Drop

January 31, 2019

This is shaping up to be a very interesting week for most cryptocurrencies. Although there is a genuine lack of overall momentum right now, it would appear there are still some surprising market movements. For fans of the Holo price, looking away has proven to be the best option this week. The value continues to plummet at a more than alarming rate, with no real improvements in sight.

Holo Price is not Moving up

It is not entirely uncommon to see how the value of Holo continues to drop over the past few hours. Although this altcoin has had a good run just last week, those massive gains were about to be wiped out in spectacular fashion. It now appears the downtrend will continue for quite some time to come, primarily because there is no reason for this market to note any recovery at this time.

Over the past 24 hours, the Holo price has dropped by another 14.5% all across the board. The USD setback brings the value down to $0.001065. In Bitcoin value, Holo dropped to the 31 Satoshi level again, although it is certainly possible a further decline looms on the horizon. This is not the trend traders and speculators are looking for, although there is not much one can do about the current lay of the land, so to speak.

There is some positive news for Holo which could result in a minor uptrend over the weekend. Getting listed on new exchanges is paramount to improve overall liquidity of a cryptocurrency. In the case of HOT, it is now listed on the Turkish Paribu exchange. Deposits and withdrawals will go live today, with the marketplace opening for trading a few hours later. This is a pretty big development for this altcoin, although it remains to be seen if it affects the price at all.

When looking at the actual price chart, however, it quickly becomes apparent there is no real improvement in sight. The chart provided by HEG shows there is a good chance this current level will not act as support and a further decline looms on the horizon. Dropping to $0.000666 isn’t entirely out of the question, by the look of things, which could spell trouble for Holo in the long run.

A completely different price chart is shared by Michael Bed, who remains confident this is just a flesh wound for Holo. More specifically, he expects a steep increase to 58 Satoshi in the future. When that trend will materialize exactly, is a different matter altogether. Based on the current overall circumstances, it seems incredibly unlikely such a price increase is even possible. Even so, cryptocurrencies remain incredibly unpredictable first and foremost.

Although the opinions on Holo are still somewhat all over the place, it would appear the current negative price momentum will remain in place for the foreseeable future. That isn’t just native to Holo either, as all other cryptocurrencies seem to suffer from this particular setback right now. How these markets will evolve in the hours and days to come, is anybody’s guess. Everything is possible, but no miraculous uptrend looms on the horizon.

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.

About The Author

Jdebunt

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.