Crypto winter shows no signs of abating anytime soon. In the past week, bitcoin rounded out its sixth consecutive month in the red while the NEM Foundation suspended all projects and partnerships due to the sinking XEM price.
All cryptocurrency markets have taken a surprising turn for the worse, although it remains unclear why this has happened exactly. The Bitcoin price is getting battered right now, which spells a lot of trouble for all altcoins. The EOS price clearly feels the pressure, as it is dropping value a lot faster than most people would have assumed possible.
EOS Price is Heading South
Every time the Bitcoin price loses value, altcoins will be affected in spectacular fashion. So far, these developments have been anything but positive for alternative cryptocurrencies. The EOS price is a good example of how dire things can get in fairly quick succession. Even though the currency has seen a good run throughout early 2018 – despite the overall net losses – finding stability has proven to be a major challenge.