Put Money to Work in Cryptocurrency Space – Compelling Long Positions – Improving User BaseApril 7, 2019
EOS has been through a good rally through the week, and it has reached a point of high resistance. From this point on it is going to be difficult for the bulls to continue charging any further.
EOS/USD has been up by 3% during the day at $5.335. This is at a point that is not too low or too high. The daily charts early this week showed that the price of the coin retraced from the key trend line resistances of the price ranges of September through October 2018 and the next from the higher highs in the rally.
For as long as the prices oscillates between these two trend lines possibilities are high for bears to push the price even lower to take it towards the $4.5 to $5 levels. However, if the price should go high past the two trend lines, chances are high for the price to trend past the current levels.
Travis, the Chief Investment Officer of Ikaigai Asset Management, has been talking about the entry of institutional investors into the crypto space. The significant bullish trends of Bitcoin has encouraged the investor community.
Kling further stated, “We need to have the never say never attitude in the cryptocurrency space. It takes a massive shift in appetite for risky investments. This is shown by the renewed interest visible in the field over the past 2 months compared to Q4 2018 and January 2019.”
Kling implied that it was important to find out the methods to be used to put the money to work in the crypto space. While Bitcoin continues to hold a very compelling long position, the price of the Altcoins are also going high in the price charts in a ripple effect response to the recent bullish trend of Bitcoin. Several users are dumpster diving into buying smaller cryptocurrencies.
People are looking to invest with a risk-adjusted approach into Bitcoin, EOS and other Litecoins.
When Morgan Creek Digital made a recent investment Kling stated, “DLT and crypto assets fundamentally change our world. We are honored to receive an investment from Morgan Creek Digital, and we look forward to working closely together with Mark, Jason, and Pomp in this exciting arena.”
While the cryptocurrency space is going through the bumps of highs and lows, several observers are of the opinion that there is an industry-wide decline in the practical application and usage of cryptos. On the reverse, cryptocurrencies are now enjoying three times more user base than in early 2018.