As prices fall, some cryptocurrencies will remain afloat, while others will lose a huge percentage of their value and prospects. But there is hope that they will restore their potential... In fact, they will suffer, but not die.
Let's take a look at Bitcoin Cash and EOS as this pair has been hit hard by the price decline in the market. EOS in particular has recently been a market leader with the ability to change price direction. In April and early May, when the price of EOS rose, the prices of other cryptocurrencies also rose, and vice versa. Of course, the decline could be due to speculation, however, with the price of EOS declining and Bitcoin Cash following, will the decline continue further or stop and level out? Is the market expecting the same rise as after the decline in April, when Bitcoin fell from $11,662.60 to $6,814.04? Let's hope!
At the time of writing, the price of Bitcoin Cash has fallen by 5.03% to $1,190.86. The price of Bitcoin fell by 2.45%, and the price of Bitcoin Cash fell by half. This will not continue forever, but the speed of this decline should be considered. Mid-April saw a month-long decline in the price of Bitcoin Cash, with the price of Bitcoin Cash dropping to $766.88 before rising to $1,818.63. Therefore, given the duration of the decline, we can assume that prices will soon begin to rise again.
At the time of writing, the price of EOS has fallen by 4.66% to $13.02. If the price of EOS does not begin to rise soon, it risks falling below $10.00, which will negatively impact the entire market. Although at the moment this seems unlikely, so let's be positive.
In general, the rapid decline in prices for Bitcoin Cash and EOS has an extremely negative trend.
According to https://cryptodaily.co.uk
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