These past few weeks have been incredibly bullish for anyone who owns the Facto m token as part of their portfolio. Massive gains have been noted in quick succession, and it appears the momentum isn’t over just yet. These past 24 hours have helped push the FCT value to $11.8, and it seems more positive momentum may be on the horizon.
Factom Price Surge Seems Unstoppable
While most cryptocurrencies and assets have struggled for momentum throughout the final quarter of 2018, Factom has followed a completely opposite trend. The currency is still far removed from its all-time high of $65, but things have begun looking up in the past few weeks. That is rather interesting to keep an eye on right now, although one has to wonder how long this trend can be sustained first and foremost.
New Over the past 24 hours, there has been another big Factom price increase. The USD value rose by 36%, whereas the FCT/BTC ratio improved by 28% in the same period. This further confirms the current momentum clearly favors Factom, even though the overall trading volume is anything but spectacular. There has been just $2.7m in 24-hour trading, which is not necessarily all that great for a market rising in value at an alarming pace.
The big news warranting some FCT price excitement comes in the form of Coincheck. The major Japanese exchange has slowly begun resuming services for the supported currencies on its platform following a major hack earlier in 2018. The latest two currencies to be reinstated for purchases and payments are XRP and Factom. This development will expose a lot of potential investors to FCT in the coming weeks.
Additionally, it seems there is some genuine excitement brewing regarding the partnership between Medicine Ventures and Factom. Considering how Overstock plans to focus on blockchain technology more and more, this partnership may be leveraged sooner than people initially anticipated. How that would be pursued exactly, remains somewhat unclear at this stage.
When looking at the Factom price from a technical analysis perspective, things are looking rather interesting. This most recent uptrend shows there is a genuine chance FCT will keep going until it hits 0.0057 Bitcoin. That is a major selling point for MarQQ, although FCT would need another 100% increase in BTC value prior to reaching such a value. That is not impossible, but it seems rather unlikely right now.
Based on all of these circumstances, there is a good chance Factom will continue to buck the bearish trend looming over all other cryptocurrencies. Surpassing the $12 mark may not necessarily be that difficult, although there will be pressure sooner or later. The low trading volume is also a genuine cause for concern, although that does not necessarily have to be a bad thing whatsoever.
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.