Even though the vast majority of cryptocurrency markets are showing upward momentum, there will always be unusual exceptions. While the Holo price captivated a big audience weeks ago, it now seems to keep declining at an alarming pace. If the value were to drop below $0.001 once again, things can get very ugly really quick. For now, it seems there will be no imminent course reversal to speak of.
Holo Price Remains Stuck in a Slump
Not too many people will be surprised to learn Holo is facing a fair bit of bearish pressure right now. Although this altcoin made traders a lot of good money in the past few months, the good times are almost over, by the look of things. Most of the gains noted in the past few months have been obliterated and the price is slowly returning to its normal value. For those who bought in near 40 Satoshi, there are some troublesome times ahead.
Over the past 24 hours, the Holo price lost another 5% in USD value, driving the price down to $0.001024. There is also a 5.4% decrease in BTC and ETH value. One HOT is now valued at 26 Satoshi, which is a fair bit lower compared to the 42 Satoshi earlier in the year. There is seemingly no indication this trend will stop anytime soon either, thus there may be a lot of further pressure up ahead.
What is even more remarkable is how there are some promising ecosystem developments to take note of. The ongoing “collaboration” between Holochain and Firefox has people excited. However, that will not necessarily impact the HOT price in any significant manner. Holochain and HOT are two very different things, even though they are also entwined in many different ways.
— Crypto_Girl (@tadkis) March 6, 2019
It would also appear a lot of investors and holders expect Holo to effectively do a 100x in value over the coming years. While that is a commendable train of thought, it seems rather unlikely something like that will happen in the near future. The low value of HOT may make it seem appealing, but it seems the momentum is still not in favor of the altcoin whatsoever.
1) Partnership with Mozilla in order to gain cloud computing market share
2) It’s cheap at .001 so the amount of volume needed to do 100x isn’t as substantial as most other coins that also have good partners
3) it’s a new category, superior to blockchain#holo
— Adouble212 (@adoudble212) March 7, 2019
When it comes to actual “trading advice’, it seems Minexpert maintains a very bearish outlook first and foremost. As the value dropped below 32 Satoshi, it seems safe to assume the downtrend will continue even further. Although it wouldn’t take much trading volume to send HOT in an upward spiral again, there are so many stacked sell orders to make it seem unfavorable and unappealing.
#Holo 100 ma’nın 200’ü kırması tamamen gerçekleşti.
Fiyatlarda iyi bir toparlanma olmazsa eğer (31,32 satoshi), holo için orta vadeli bir ayı(düşüş) dönemi söz konusudur.
Ufak fiyat artışlarında paniğe kapılmamanızı öneririm, bu düşüş dönemleri kolay kolay kırılmaz.#holochain pic.twitter.com/BVgyo08duS
— minexpert (@madenuzmani) March 6, 2019
Despite the overall positive crypto market trend, it would appear things are not looking too great for Holo as of right now. Turning this ship around will be difficult, if not impossible. As there is seemingly no interest in buying and holding HOT at this time, the price will potentially drop below $0.001 fairly soon. That won’t be the end for this altcoin whatsoever, although it will make a lot of traders and speculators unhappy first and foremost.
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.
The post Holo Price Resumes Bearish Trend as Value Seems Poised to Drop Below $0.001 appeared first on The Merkle Hash.
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