Not a day goes by in the cryptocurrency world without some rather unexpected market momentum. In today’s edition, it would appear there is a sudden and surprising interest in Groestlcoin. So much even that the price has more than doubled in value over the past few hours. That is primarily because of a heavily inflated trading volume, which seems to make little sense at this time.
Groestlcoin Price Surge Gains Momentum
While every cryptocurrency, token, or digital asset is an individual project first and foremost, it is always a bit unclear how things will evolve in the price department. In the case of Groestlcoin, there is a loyal community which supported this project in recent years. Even so, the GRS price never showed any real potential for more than a few hours on end. This run may turn out to be more of the same, even though its magnitude is quite bullish all across the board.
In the past 24 hours, the Groestlcoin price has risen by 142% in both USD and BTC value alike. That is rather interesting to take note of, as this altcoin has not noted such steep gains for quite some time. Because of this unexpected price rush, the value per GRS has risen to $0.5786, or nearly 15,000 Satoshi. Long-term holders will be pleased with these gains in Bitcoin value first and foremost, as that is what most altcoin traders are after these days.
The big news this week is how Groestlcoin may finally become more useful in the real world. A new partnership with PolisPay allows the altcoin to be used as a funding method for a Mastercard-themed debit card. While this development is more than interesting, all things considered, one also has to wonder how many people will make use of this functionality.
— CRYPTO EUROPE 🇪🇺 (@CRYPTOEUROPE) March 11, 2019
For those who expect this to be the beginning of a major “news wave” for Groestlcoin, the situation may not work out all that well. More specifically SanctiGrial expects this to be the debit card news to become irrelevant first and foremost, with no long-term sustainability behind it. While that may be true, it remains to be seen if this is just a pump cycle after which things return back to normal.
Essentially, growth is based on empty news. I studied it. There’s absolutely nothing there. Immerse yourself in the topic and you will understand. That this, as not ALTSeason and OnlyPUMP #GRS #Crypyo
— SanctiGrail [⚡️] (@SanctiGrail) March 12, 2019
When looking at the actual GRS/BTC price chart on Binance, it is evident things are not looking too great. The quick succession of green candles has already triggered a minor collapse, although it seems the GRS price is rebounding swiftly. Such ups-and-downs will continue to occur for quite some time to come, as the gains of over 100% are hardly ever sustainable for the long run. It will mainly depend on whether this $490m in trading volume remains in place, yet that seems unlikely.
— CryptoGlenn (@CryptoGlenn) March 12, 2019
It is rather interesting to see such a bullish market emerge when most of the top markets are pretty bearish. Although Groestlcoin is a very different creature at this time, it appears to be a matter of time until things will return to normal for this altcoin. At the same time, it may be a sign of what is yet to come for all other crypto markets over the coming hours and days. Some bullish industry-wide momentum would be more than welcome at this time.
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.