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Ontology Price Eyes $4 Target as Pumping Action Continues

It seems particular patterns are destined to repeat themselves in the world of cryptocurrency. Every working project with decent technology is losing value, whereas currencies which are just in the early stages of development are soaring. It has become evident the Ontology price is subject to a lot of manipulation, but so far, the uptrend remains in place.

Ontology Price is on the Rise

While it remains to be seen how things will play out in the world of cryptocurrency, the overall trend remains extremely bearish, for the time being. This is not entirely surprising, as there is no reason for any positive momentum as of right now. Then again, the Ontology price is quite successful in bucking this trend albeit it remains unclear why that is the case exactly. The project has everything to prove at this stage, after all.

To put this into its proper perspective, the Ontology price currently sits at $3.91. That is quite a high value, especially when keeping in mind how relatively new this altcoin is. It is not uncommon for new currencies to suddenly spike in value, although most people expected the Ontology price to drop from $2 to less than half.

So far, that has not happened, as the Ontology price is seemingly continuing its upward momentum with relative ease. Over the past week, we saw the Ontology price rise from $1.75 to almost $4. If this pace keeps up, it will hit $5 pretty quickly. Whether or not such growth is even remotely sustainable, remains to be determined. Additionally, the Ontology market cap has risen to $942.3m, which is rather high for this particular venture.

With $92.4m in 24-hour trading volume, it is clear very little money can make the Ontology price move pretty quickly. More specifically, it takes less volume to make things happen for this altcoin right now, even though it remains to be seen how much of those trades are not driven by hype and speculation. If the general altcoin industry is any indication, it seems this is a very deliberate pump-and-dump schemes.

One thing Ontology has going for it is how the currency is listed on Binance. The world’s largest altcoin exchange is the go-to place for pump random coins, even though this Ontology price trend has been in place for quite some time now. Binance represents over 66% of all ONT trades right now, which is not necessarily a positive sign by any means. Huobi is also in the top three, although its volume is far less impressive.

For the time being, we will have to wait and see how things play out for the Ontology price. It has become evident there is a lot of price action going on, although it may only be temporarily, for all we know. The same pattern has repeated itself several times over, albeit it remains to be seen if this trend will continue for quite some time to come. Owners of Ontology will be quite happy with the way things are going as of right now, that much is rather evident.

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Is Bitcoin Really Money? A Look Into What Qualifies As Money

Recently, a conversation between friends about cryptocurrency, its viability, and its reality in today’s world was held. One side was in favor of crypto and the future it holds, while the other side believed “Bitcoin” (because all cryptocurrency is Bitcoin to those who know little or nothing about cryptocurrency) is a scam, fake, and not worth thinking about let alone investing in. After having this conversation it seemed logical to try and answer a question at the root of all doubt and fear found in the heart of non-believers: Is Bitcoin (really) money? So, let’s look at the three things defining whether an asset is or isn’t “money,” and discover for ourselves what “Bitcoin” really is. Any true “money” has to be a medium of exchange. A medium of exchange means it is an asset which is agreed to have value in the eye of the holder and those they wish to exchange it with. Just as coins have a value assigned to them that everyone within a society using them agrees on making them a medium of exchange. Any true “money” has to be a unit of account. A unit of account means by virtue of the amount of asset(s) needed to make an exchange one can tell the quality, or quantity of the item(s) the asset(s) is being exchanged for and make this judgment based on the rate of exchange. Any true “money” has to be a store of value. A store of value means that if you have X amount of assets at point A, then you should be able to go back later and retrieve these assets at point B and they will still have value. It doesn’t spoil, rot, or become irrelevant with the passage of (normal amounts) time. First, Bitcoin can be used to purchase many things today. People can use Bitcoin in purchasing situations which are largely, at this point, online transactions. People can purchase flights, hotels, Amazon goods, etc. using Bitcoin and soon there will be a lot more. Second, Bitcoin is a unit of account because different amounts of Bitcoin will get you differing quantities, or qualities, of goods and services depending on how much Bitcoin you’re willing to give up in exchange for whatever it is you want to purchase. This is no different from spending fiat currency. Allowing you to gauge the quality and/or quantity depending on the amount of Bitcoin that is being asked for by the provider is an important aspect of “money,” so this, by definition, makes Bitcoin a unit of account. Lastly, Bitcoin is a store of value because if you want to use Bitcoin to pay for college and you buy some up now at the current price you will expect that it will hold its value and in the future you will be able to use it to pay for college with it having about the same or increased value attached to it at the time of exchange. So, is Bitcoin real “money?” Well, all three of the qualifiers have been met and proof makes positive in my book. So, there you have it, is Bitcoin money? Yes, it certainly is. The post Is Bitcoin Really Money? A Look Into What Qualifies As Money appeared first on NullTX.

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