It appears rather unlikely this minor amount of bearish pressure will cause any major cryptocurrency disruptions. A bit of a correction has never hurt any market although some altcoins are more susceptible to declines than others. The EOS price is quickly giving up ground, as the value has dropped below $5.5 once again.
EOS Price Momentum Doesn’t Look Promising
It is no abnormal for top altcoins to deal with minor setbacks over the weekend. This particular weekend has proven to be rather bullish in general, which makes the current overarching bearish sentiment all the more normal. When Bitcoin starts to slip, altcoins often face much bigger losses in quick succession. EOS is an interesting example in this regard, although the dip isn’t insurmountable.
To put this in perspective, the EOS price dropped by 29% to $5.42. There is also a 2.43% dip in EOS/BTC, which is the main reason for this slightly steeper downtrend. When Bitcoin goes in the red, altcoins not only lose USD value, but they also drop against Bitcoin. Today…