As is usually the case when one looks at the entire cryptocurrency market cap 100, things can look different from coin to coin. While Bitcoin is struggling, the Factom price is still going very strong. Fresh gains have been noted in both BTC and USD value over the past few hours, pushing the Factom price above $10.5.
Factom Price Trend Remains Unscathed
It is always peculiar to see how altcoins most people never talk about succeed in continuously gaining value. Even when the overall momentum is pretty bearish, Factom continues to do its own thing without batting an eye. This is part of the reason why the FCT price remains above $10 and even pushed to $10.5 in the past few hours.
When looking at the daily statistics for Factom, there is a clear 3.6% increase in USD value and a 5% gain in Bitcoin value. Both trends are remarkable, as Bitcoin’s value is still in the red and most alternative currencies suffer from this momentum as well. Factom is, once again, bucking this trend in a rather successful manner.
Based on the current social media activity regarding Factom, there is a lot of excitement. Behind the scenes, major partnerships are being forged to take this blockchain technology to a whole new level. For companies such as Factom, strategic partners play a major role of importance at all times.
If you've been watching Polo and Bittrex over the past couple of weeks, you would know that #Factom #FCT has been on a major run (Big client announcement along with other fundamentals that have been underlooked). Check out the AMA if you want to see what's been going on #BTC https://t.co/lg5rSUyksa
— Crypto King of the North (@crypto239) November 29, 2018
There is also a current AMA taking place with Building Innovation Management, one of the companies operating Factom nodes. As such, their role in the ecosystem is pretty spectacular, thus their questions and answers shed some interesting lights on what is going on exactly. An AMA is always a reason for cautious optimism, although it will mainly generate hype first and foremost.
— Building Innovation Management (@BuildingIMLtd) November 29, 2018
Eve the social sentiment associated with Factom is seemingly rising a bit. While The TIE confirms there is still a neutral sentiment right now, it would appear things have improved gradually. There is also the ongoing FCT uptrend which cannot be ignored, albeit this massive gain will be met with a steep correction eventually.
— The TIE (@TheTIEIO) November 29, 2018
For the time being, the Factom price will likely remain above $10.5 for some hours. This is primarily because of the altcoins gains in BTC value, which are still adding up as of right now. If this trend continues, a peak above $11 is certainly possible, assuming Bitcoin regains its temporarily lost momentum accordingly.
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.
None of the information on this website is investment or financial advice and does not necessarily reflect the views of CryptoMode or the author. CryptoMode is not responsible for any financial losses sustained by acting on information provided on this website by its authors or clients. Always conduct your research before making financial commitments, especially with third-party reviews, presales, and other opportunities.