The crypto markets are showing some mild signs of life. Most major tokens are up ever so slightly from recent lows. But the Parsiq crypto token has been absolutely on fire. Yesterday trading volume suddenly spiked. And the price shot up by 160%.
This kind of bullish move in an otherwise sideways market would normally be a good sign for investors. But we’re anticipating this to be another short-lived price bump. Not unlike the ones we’ve recently seen with the MoveZ, XCAD and Numeraire tokens.
What these tokens all have in common with Parsiq crypto (PRQ) is they are all microcap tokens. That makes them more susceptible to price manipulation. All it takes is one investor with deep pockets to buy up a large stake and drive the price up. And this often causes a flurry of subsequent trading action.
This is especially true for those that employ crypto trading bots to assist with their trading. A rapid spike in trading volume and/or price can cause an automated “buy” from crypto day traders. This in turn pushes the price up even higher. And by this point, regular crypto investors start to receive push-to notifications on their phone about a token on the rise. From there, the buying frenzy continues…
Around this point is when the that first buyer exits their position for a pretty nifty gain. By the time us regular investors start contemplating whether it makes sense to jump into the position, we’ve likely missed our chance.
Will Parsiq Crypto Continue To Rise?
It’s pretty unlikely Parsiq crypto will continue its upward trajectory for long. It’s already began to retreat from recent highs. And it’s likely to quietly slide back down to where it was trading at in recent weeks. So in the short-term, don’t expect too much from this token.
But long-term investors might have a different take on all of this. Even factoring in Parsiq crypto’s recent spike in price, it’s still trading more than 95% below its all-time high. Now that could mean one of two things. Either investors have lost faith in the role the Parsiq Network will play in the future of Web3. Or this token is enduring the crypto winter and will eventually thaw with the rest of the crypto market.
Parsiq is no fly-by-night operation. There’s virtually no concern for a rug pull here. And the platform the Parsiq crypto tokens is a nifty one. It helps developers deploy blockchain applications that are able to transfer off- and on-chain data in real time. In fact, it can provide data for more than 6 million transactions in less than a second.
Parsiq also supports developers ability to connect decentralized applications (DApps) to devices. These can help monitor changes, develop new DApps and create automated bots. All of this utility has proven quite beneficial to the DeFi community. Parsiq has more than 50,000 users. And those users have implemented an estimated 150,000 applications.
Because of this, Parsiq isn’t likely to simply fade away… And that could make Parsiq crypto a very lucrative investment. But again, in the short-term don’t expect a whole lot of upward movement in price. At this point, Parsiq crypto is very much a long-term investment.
The Bottom Line on Parsiq Crypto
The promise of what Web3 will look like… What it will consist off… How it will operate and how we will interact with it is still a big question mark. But eventually, it’ll get here. And the Parsiq Network has been in on the ground floor. That makes it likely to play an integral role in how data is stored, shared and monitored.
This is a fascinating project with a lot of promise going forward. Plus, there has been a steady stream of new announcements and developments from the team behind this project. Its upper management has also been flying around the world visiting seemingly every blockchain conference out there. This has helped them stay on top of new developments in the industry. And keeping a constant finger on the pulse of an ever-changing industry is vital.
All of this makes us believe that even despite the recent price explosion Parsiq crypto has a lot of room for future growth. But of course, there are no “sure things” in the crypto world. As we all know, any investment is capable of going belly up. So while this looks like a promising long-term investment, we wouldn’t bet the farm on it. But if you’ve got some investment dollars you could afford to lose, we think you could do worse that Parsiq crypto tokens.
Matthew Makowski is a senior research analyst and writer at Investment U. He has been studying and writing about the markets for 20 years. Equally comfortable identifying value stocks as he is discounts in the crypto markets, Matthew began mining Bitcoin in 2011 and has since honed his focus on the cryptocurrency markets as a whole. He is a graduate of Rutgers University and lives in Colorado with his dogs Dorito and Pretzel.