The cryptocurrency market looks green as the coins are moving up slow and steady. Bitcoin still trades above the $8000 mark and at 1:25 PM UTC was seen to be trading at $8098.93. The coins have moved sideways in the last one hour and they look steady as of now. The recent dip in the market did not affect it as such, as most of the coins have reversed it by now. The coin market capitalization at 1:29 PM UTC was at $335.746 billion. The value has increased from yesterday’s and the cryptocurrency market looks steady. The market sentiments so far have been positive as there are many reports about big hedge funds getting ready to place their bets on the industry. The second quarter has been positive for Bitcoin and traders are looking to take advantage of this tendency.
Our sentiment analysis segment comprises of crypto-related sentiments of people from around the world about the current market trends and the possible outcomes of the coins. This segment includes expert opinions of people that are recorded as it is. The segment is carefully structured after taking an interview of a group of investors, miners, skeptics, analysts, influencers, and henceforth including their valuable comments. We aim at providing a wholesome picture to our readers about various coins that might be of interest to them. This analysis is focused on EOS which is currently at the 6th spot in the rankings.
At 1:47 PM UTC, the coin was seen to be trading at $8.82 with a market capitalization of $7.063 billion. The coin had surpassed the $9 mark during the hike on the 13th of April this year. Since then, it has not retraced back to that level. The coin appears to be pushing the $9 mark but has not been successful yet and appears to have consolidated above the $8.5 mark. The coin is also forming another bullish pattern and the price is supported well above the $8.5 mark. The analysts are of the opinion that there could be a potential breakout towards $9. The recent eosDAC airdrop resulted in the hike in price and it even surpassed LItecoin [LTC] in the rankings but the spot was taken over by Litecoin again.
Mike Derrick, an EOS investor from Middleburg says:
“EOS is expected to rally to $13.00 very soon so this might be the best time to buy the coin. The coin is under a buying pressure and a bull wall has been formed for the coin on the exchange Binance. The Bollinger bands are narrowing and the MACD looks positive. A bullish breakout may soon be witnessed.”
Ricky Walker, an altcoin miner from Seattle says:
“Look to buy EOS at $8.35 and then a possible sell opportunity is at $9.33. There are chances that the price in future may form a cup and handle pattern. If this pattern is formed and the coin breaks out of the handle, then that will give us a major bullish uptrend.”
Teresa Williams an Economics student at the University of Chicago says:
“EOS will reclaim the 5th spot by the end of this quarter and I can only see the coin going up looking. It will be the Amazon Web Services of the blockchain. There are many small teams and public companies that are building on the EOS network right now.”
To conclude, 67% of EOS respondents fell bullish and they are hoping for the coin to hit $10 mark by mid-May. They feel that the coin may go down temporarily but will shoot up after that. Another 33% of the EOS respondents are bearish as the coin has long tried to stay above the $9 mark but could not till now.
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