Qtum Price Breaks out as its Trading Volume Surpasses the Market cap
In the cryptocurrency world, there is always some unexpected momentum to be found. Whether that trend is for better or worse, remains up for debate. As of right now, there is plenty of green across the board, although a lot of markets remain on rather shaky legs. How all of this will play out for the Qtum price, among others, remains to be determined at this point. So far, the market is doing well, but there are still questions regarding its sustainability.
Qtum Price Trend Has Some Promise
When it comes to the alternative cryptocurrency markets, a lot of interesting things tend to happen sooner or later. In the case of Qtum, it is a market which seems to be overlooked quite often, yet comfortably resides within the market cap top 50 without any real problems. Today, it is also one of the few top markets noting some impressive gains. Whether or not this trend can remain in place for much longer, is a different matter altogether. Its overall trading volume seems to indicate this run may come to an abrupt end fairly soon.
To put everything in its proper perspective, the Qtum price has gained 4.9% in USD value and 4.38% in BTC value. Both trends are incredibly promising, as the price rose to $2.71, or 66,281 Satoshi. With more trading volume than the actual Qtum market cap, there is a lot of interest in moving this altcoin back and forth in quick succession. When this trend materializes, however, it is usually a sign of bearish pressure waiting to materialize in the very near future.
There is one interesting tidbit of news which could explain this sudden interest in Qtum. More specifically, there is an impending collaboration between Qtum and Archlinux, which can yield some interesting and exciting products and services in the near future. It is always good to keep expanding the ecosystem, as there is no room for stagnation whatsoever. As such, it seems Qtum is on the right track, at least for the time being.
Most traders are primarily interested in the price chart, which is only to be expected at this time. According to Pro&Trade, it seems there is a good chance Qtum will hit 793 Satoshi or more in the very near future. When that happens, a good time to sell this altcoin will materialize. However, there is also a chance this market will double in value, although that seems rather unlikely under the current market circumstances.
A somewhat similar sentiment is echoed by Rektcapital, which didn’t necessarily expect this breakout to materialize in such quick succession. There is a lot of resistance ahead for Qtum, however, which will usually result in a brief pullback prior to launching another attempt at breaking through this level. In the cryptocurrency world, nothing is ever guaranteed or set in stone, thus anything can happen.
While there is nothing to be overly worried about as far as Qtum is concerned right now, there is always a chance some momentum will materialize which takes everyone by surprise. Considering how Qtum has noted gains when people least expect it, it seems rather likely the opposite will occur as well before the weekend arrives. Especially when a market notes more trading volume than its total market valuation, things will turn either mega bullish or mega bearish.
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.
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