The Egretia (EGT) cryptocurrency has progressed by one hundred and fifty percent (150%) only in the past week alone, rising from $0.0078 to its present value of $0.021. Simultaneously, trading volumes have whizzed to reach approximately thirty million dollars ($30 M) in 24-hour volume.
Scaling back, it becomes obvious that the trend is not a short-term since the token has grown more than fifty-nine hundred percent (5,900%) since the start of 2019 and is possibly the chief performer since past three months.
During the past three months, the market cap of the token swelled from one million dollars ($1.2 m) up to its current value of eighty-six million dollars ($86 M).
What can be the possible reason behind these sweeping price movements? According to our research, there is not even single major news that supports the exciting bullish drive perceived by the crypto.
Furthermore, it does not seem that the current gush is because of the simple pump-an-dump effort since the cryptocurrency has been experiencing a continuous upsurge since the past two months.
As a substitute, this essential price growth is probably the result of pure assumption with an increasing number of financiers consider cashing in before it certainly plunges.
Even though Egretia (EGT) has observed unexpected achievements in the past months, this is not a pointer that similar gains will be occurring in future.
Honestly, there will be cryptocurrencies that dare hopes and will face phenomenal gains. Majority of this will be driven by a wild assumption that might breakdown any moment.
Due to this, merely playing numbers and expecting to strike it fortunate is a meagre plan, as you will not only have to pick the right coin but also enter and leave it at the right time, which is hard.