You are viewing a single comment's thread from:
RE: EOS on a rally while other cryptocurrencies struggle
EOS was only able to go on a run after bitcoin bounced off the long term trendline at around 7300. For better or worse, the whole market is still following bitcoin now. Bitcoin has dropped about 10% in the last 12 hours and EOS (and the rest of the market) is following as expected. EOS may be an amazing project but in this current market it's not going to pull us into a bull market. If bitcoin finds a bottom and flattens out then there's a chance other alts like EOS can catalyze a bull run, but while we're still in a bitcoin downtrend, that's just not going to happen. IMO there's no bull run until bitcoin starts its next market cycle.
while that may be true now...this market will become more and more uncorrelated to the Bitcoin price as people realize that Bitcoin has very little (if any) influence on other blockchain projects.
I hope you're right and seeing blockchain platforms actually being useful is a way that could happen. Lets see if EOS can turn that promise into a reality, should be interesting.