A new week starts with the crypto-currency industry and there is a bearish market pressure. Although there are ever-decreasing expectations in this regard, it is obvious that some hurdles must be overcome. At the moment, the EOS prize is under pressure in the top five. His losses are the least worrying, but the situation does not look too big either.
EOS price picks up bearish trend again
While the world's leading cryptocurrency is not necessarily depreciating, bearish pressures are evident. Especially in the other top 5 markets, the losses are already stacking up quite fast. EOS is a good example, as it has lost most of the value of the entire Top 5 at this time. This loss needs to be somewhat nuanced, as the actual decline is not so steep.
This becomes clear in the last 24 hours EOS The price has fallen in the USD value by 2.1%. This negative momentum pushes the price down to $ 3.64, which is not necessarily worrisome. In terms of EOS / BTC things are not looking very good after a decline of 1.78%. The 92,700 Satoshi level will seem to be holding for at least another day, even though it does not require additional pressure to break that support level.
There is never a lack of excitement or developments in social media that affect individual cryptocurrency projects. Whale Alert is an interesting Twitter account that you should keep an eye on, even if the latest news is causing confusion. The account claims that 1 trillion EOS has been transferred from an unknown wallet to another unfamiliar wallet. Since this transaction does not exist and the total supply of EOS is clearly exceeded by a factor of 100, it should not cause real panic.
, 000 🚨 🚨 🚨 🚨 1,000,000,000,000 #EOS (3,661,729,952,714 USD) transferred from Unknown Wallet to Unknown Wallet
– Whale alarm (@whale_alert) March 11, 2019
In more tangible news, there is a chance that an interesting collaboration between EOS and Wanchain is in sight. In particular, the WanChain team confirms that a new chain bridge will be announced shortly, although no one knows exactly which project will be tapped. EOS is a potential candidate, although there are many other options that need to be considered.
– @blockworkOrange (@cryptohustlr) March 11, 2019
As has been the case for quite some time, there will always be arbitrage opportunities. In the case of EOS, there are some interesting price differences between some major stock exchanges. This allows potential gains of up to 1.58%, which is by no means a bad thing. Even if the EOS value becomes bullish or bearish, these gaps are likely to persist for some time.
Buy at #HitBTC and sell #Bitfinex, Ratio: 1.58%
Buy at #Poloniex and sell #Bitfinex, Ratio: 1.48%
Buy at #Gate.io and sell #Bitfinex, Ratio: 1.58%#bitcoin #Arbitrage #arbitraj #arbingtool https://t.co/xiFUPzcOcC
– Arbing tool (@ArbingTool) March 11, 2019
All the current market signs suggest that EOS will not regain lost value until Bitcoin turns green again. This in itself is always a worrying turn of events, although it remains to be seen how long the vacuum can last. With no major losses in any of the top 5 markets, this momentum could turn a cent. This is something that you can look forward to in the next few hours.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and educational purposes only. Please do your own research before buying or investing in a cryptocurrency.
Image (s): Shutterstock.com
TheBitcoinNews.com is there for you around the clock to keep you informed about Krypto. How do we do? Tap Satoshi with the exciting new Lightning Network Tippin.me tool!
Post source: EOS price remains bearish as false alarms cause confusion
More Bitcoin news and cryptocurrency news on TheBitcoinNews.com