📈 Pricewise Stavros Georgiadis

EOS Price Prediction for December: Now at $1.69, Is the bottom near?

Pricewise
As of Dec. 7, 2018, EOS is in the sixth position in the top 100 cryptocurrencies by market capitalization based on latest CoinMarketCap statistics
EOS Price Prediction for December: Now at $1.69, Is the bottom near?
Contents

As of Dec. 7, 2018, EOS is in the sixth position in the top 100 cryptocurrencies by market capitalization based on the latest CoinMarketCap statistics, with a price at $1.69 and a change of -23.22% during past twenty-four hours. In this article we will focus on an EOS price prediction, more specifically a prediction for December.

The recent plunge of 10% makes any EOS price prediction​​ a challenging task. As always, any prediction is not investment advice but rather only a technical analysis with arguments to support it. Will EOS’ price rise or fall in December 2018?

EOS cryptocurrency
EOS image

EOS price prediction December

The forecast by end of the calendar year of 2018 is around $37. Similarly, the five-year forecast is around $143. Thus, the total quantum of appreciation which can be attained is huge. Moreover, when you look at the platform itself, you will realize its scalability as well. It is easier for the companies to use this platform in order to create various applications. With the help of parallel execution, it becomes easy for the company to run multiple decentralized applications.

This EOS price prediction 2018 proves that EOS coin predictions are very hard to be accurate, and the use of historical data with a combination of linear and polynomial regression adds value and credibility, making more sophisticated attempts for an accurate EOS cryptocurrency price prediction. No one can, however, predict prices of cryptocurrencies with total certainty, thus it is crucial to understand that the following forecasts serve merely as a suggestion of possible price development and are not intended to be used as investment advice.

EOS unlimited scaling possibilities
EOS infographic

EOS price prediction end year

Some of the most important reasons why most cryptocurrencies fell significantly in November 2018, including EOS, were the following:

  • Bitcoin Cash Hard Fork

  • Regulatory Pressures and Global Pressures (trade tensions, central banks tightening up policies)
  • Fresh Investigation for the controversial Stablecoin; Did Tether (USDT) manipulate the Bitcoin (BTC) prices, as they had an impressive rally during last year?

Here are some opinions on the EOS forecast, which try to analyze the main question: is EOS a good investment? What are the key drivers for EOS future price and some EOS projections?

EOS coin price prediction, move up, down or sideways?
EOS price prediction

According to WalletInvestor, investing in EOS will turn out to be a favorable venture for investors, if they are willing to invest $100 for a period of 5 years, where the estimated revenue will reach roughly to around 811%. In 2023, it might reach $911. The 1-year forecast is $4.672 and 5-year forecast at $17.510, a large increase as the current price of EOS is $2.40.

EOS is going to be valued around $11 in December 2018. As the acceptance ratio becomes more, the value surges upward. EOS is more technologically advanced than Ethereum and Bitcoin, due to which its pace of growth is the highest compared to other cryptocurrencies.

Tone Vays, a Wall Street veteran, former VP at JP Morgan Chase, and well-known Bitcoin-focused technical analyst, thinks EOS will one day be worth $0, stating “EOS is a useless scam token of a centralized worthless platform. My price prediction is eventually zero as with nearly all other ICOs, scam tokens and useless projects.”

It is always a good idea to be unbiased and present both optimistic and pessimistic opinions about EOS price prediction 2019, as EOS price predictions are just estimates based on personal and statistical trends. Any unpredictable fundamental and business factors such as regulation issues, tax issues or lack of liquidity and less than expected business adoption of the EOS coin over time will have an influence on any attempt to make an EOS prediction for 2018 and beyond.

Eos price prediction 2019

  • TradingBeasts estimates that in 201, EOS will have a minimum price of $7.90 and a maximum price of $16.14.

  • Coinswitch estimates It will take an upward rise in May and June, where the EOS price will reach $9.79 by the end of May 2019. In December, it will take a long plunge upwards to $26.07 from $15.67 in November.

  • Megacryptoprice’s forecast is as follows; EOS Price In 1 Year EOS to USD predictions for 2019: the price $8.19 EOS will increase from $2.40 now to $8.19 in late 2019, and this is a +240.00% increase in EOS's current valuation.

The catalysts that will drive EOS are the pros and cons of the coin. What are some of EOS strengths and weaknesses? What will be supportive or not for coin price prediction in the future?

EOS advantages:

  • Parallel processing which enables higher transaction speeds and much more scalability
  • EOS is self-sufficient and evolutionary
  • EOS doesn't demand its users to pay for every transaction

EOS challenges:

  • Increased competition from other decentralized platform suites.

EOS price forecast

EOS predictions highly uncertain as investing is general a risky task, without any guarantees, and only expectations based on the risk-return tradeoff. Crypto price predictions such as why is EOS going up and what is EOS’ future based on its current price can be based on technical analysis and fundamental analysis.

EOS current price
EOS weekly chart

The weekly chart of EOS is based on the Bollinger bands with lower and upper prices of $1.69 and $7.88. The question is a forecast prediction on EOS price crypto: will it move up or down for the remainder of December 2018? What will be the value of EOS at the end of the year?

EOS Technical Analysis

EOS coin price prediction
EOS daily chart

Our technical analysis based on the EOS daily chart is as follows:

  • The current dominant trend is a downtrend, and is a strong trend as supported by the ADX/DMI indicator. The ADX line is at 57.04, the DI- line with red color at 38.64 and the DI+ line with blue color at 4.9184.

  • The daily Bollinger bands have expanded significantly, and this increased volatility may reverse and lead to lower volatility levels or contraction soon, as in many times, but by no means does high volatility alway leads to low volatility and vice versa. If a volatility contraction is to occur in the remainder of December 2018, most probably the price of EOS will move to higher levels.

  • MACD indicator is negative showing no signs yet of a potential bottom and a price reversal.

  • Momentum indicator for 10 periods has made a positive divergence as price of coin moved lower but the value of the momentum indicator moved to higher levels. This can be interpreted as bullish and supportive for EOS price prediction moving higher than the current price of $2.38.

  • As the price of EOS has broken the important support levels at $5.076, $5.05 and $4.66, there are no meaningful support levels at current price. The mentioned support levels will not act as resistance levels if price will move higher during December 2018.

  • 20-period and 50-period exponential moving averages with values at $3.3836 and $4.3024 are both pointing down, supporting a strong downtrend and these moving averages are also expected to act as resistance levels in the future.

  • Fibonacci analysis taking as swing high $5.8502 and swing low $2.2902. most recent pivot high and low shows that 0.5 and 0.618 retracement levels are at $4.0702 and $4.4903 respectively. Given the strong downtrend, a conservative EOS price prediction is for a price of $4.07-$4.50 at the end of December 2018. This is probable given the sharp decline that started during November 2018. We do not estimate, though, any significant bounce as the coin needs catalysts for any price trend reversal.

  • Liquidity will diminish during the Christmas holidays, so any price spikes either up or down are also probable.

  • Any sustained closing prices above the 20-period moving average may be an early sign of a potential consolidation for the price.

  • MACD histogram is diminishing which may also be an early indicator of a pause for the recent downtrend.

Conclusion

The price of EOS coin has fallen within one month from $5.50 to $1.69. This shows that fundamentally, for now, business prospects for EOS and the major cryptocurrency market which also fell during November do not seem optimistic. However as this is not investment advice, a potential bounce for EOS price is probable.

Our price forecast of $4.07-$4.50 is based on Fibonacci retracement levels. We do not estimate any larger price correction, as liquidity is expected to decline later during December 2018 and the time horizon is very short.

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TRX coin basics

It is also important to decide which wallet you should use to store your purchased Tron coins. Never leave your coins on exchanges (hot wallets) because you can lose all your money if the exchange shuts down, gets hacked or simply decides to block your account for some reason. You will need to get a semi-cold or cold wallet to make sure they your money is safe.

TRON Coin Wallets

Ledger Nano S

Hardware wallets are generally considered to be the safest way of storing crypto. Ledger Nano S is probably one of the best example of such wallets – it is completely secure and very user-friendly. Furthermore, it can be used for storing a great number of currencies including Tronix. Ledger Nano is also compatible with MyEtherWallet. You have to simply connect your ledger to a computer via USB and then send tokens to the wallet by clicking “Send Ether & Tokens” tab and choosing the “Ledger Wallet” option.

Trezor Wallet

Trezor is another good option if you are willing to store crypto on a hardware wallet. It works in a pretty much the same way as Ledger Nano S, so that would be difficult to designate which device is better. They are also in the same price category. Price is the main drawback of hardware wallets since you will have to pay up to €100 for such a security measure. However, it’s basically nothing compared to the amount of crypto that is usually stored on hardware wallets.

MyEtherWallet

MyEtherWallet (MEW) is objectively one of the most common ways of storing crypto. It is an open-source wallet which lets it users keep the private key to the wallet on their own computer avoiding the third party. MEW is usually accessed through your online browser, but it is also compatible with the majority of software wallets and aforementioned hardware wallets. Another advantage of MEW is a built-in exchange service. At the same time this platform has issues with security: there were numerous reports of MEW users who claimed that they had been subjected to phishing attacks.

MetaMask

MetaMask is an Ethereum-based online wallet that can be installed as a simple browser extension which is compatible with Google Chrome, Opera and Mozilla Firefox. It ensures an easy access to the blockchain without installing any additional software. MetaMask provides its users with an acceptable level of security using private key encryption, but (just like any other online wallet) it is not suitable for storing large amounts of cash.

Eidoo Wallet

Eidoo Wallet is a mobile app (available for Android and iOS) which works as a multi-cryptocurrency wallet. Private keys are encrypted only on your mobile phone (not held by Eidoo), so they are entirely controlled by you. Of course, the major advantage of Eidoo is its convenience: transactions can be managed with a smartphone while simple interface makes them understandable even for complete beginners. The developers promised to release a desktop version in the nearest future. Again, one cannot ignore the security issues. That’s why it’s advisable to always have a backup.

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The bottom line is that hard wallets are much safer for storing big sums of crypto (although, there is still a possibility that it may be physically damaged or simply lost). So you should combine different wallets taking into account all their advantages and disadvantages.

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TokenPay (TPAY) positions itself as the world’s most secure coin and payment platform, and while it has a lot more bells and whistles to offer than Bitcoin or Litecoin, its downfall is that it is not Bitcoin or Litecoin and doesn’t have a strong enough name to be highly recognized or used as a mass payment processor. Before going further, let’s have a look at the financials.

Financials

TokenPay’s ICO ran from Dec. 7 to Dec. 26 2017 and raised $40.8 mln in funding. The current market cap is about $45 mln with a daily trade at just under $300,000.

The token entered the trading markets at $1.22 on April 5, 2018, and took off. It reached its high of $10.79 by April 22 before settling down to $3.19 at the time of writing.

The current price is still above the entry price so they are doing something right to keep it there.

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All about paying

TokenPay is a Proof-of-Stake (PoS) system, whereas the Bitcoin network is powered by Proof-of-Work (PoW) mining. This makes transaction way more efficient and less costly as it avoids paying high transfer fees to miners.

According to the website, “Currently, TokenPay Swiss AG [TokenPay’s financial partner] owns 9.9 percent of WEG Bank, and the Litecoin Foundation owns another 9.9 percent, and TokenPay Swiss AG has the option (and financial capabilities) to acquire upwards of an additional 70 percent ownership rights.

Purchasing this bank will allow TokenPay Swiss AG to position itself as the crypto-market leader in merchant settlement services, in particular for those merchants that are not satisfied with traditional high processing fees and stringent compliance issues.”

That being said, TokenPay positions itself further to become a major processor of payments.

Privacy and security

TokenPay is an ultra-privacy coin. It contains several unique features such as multi-signatures, ring signatures, dual-key stealth addresses, ZK proofs (zero-knowledge), along with a fully encrypted and decentralized Tor network integration.

TPAY is the backbone of TokenPay’s fundamentally core cryptocurrency-friendly banking integration.

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Crypto debit cards

In 2019, TokenPay plans to launch its Blue Diamond crypto debit card that will allow users to, “seamlessly integrate with your digital currency wallet of choice, enabling you to easily load your currency of choice to your debit card.”

You will then be able to use or spend your currency at any physical or virtual point of sale terminal and will have unfettered access to fiat at thousands of ATMs worldwide, enabling seamless fiat withdrawals.

Payment processing on the backend will be conducted through a closed-end real-time private exchange, owned exclusively by a licensed and regulated TokenPay entity,” according to the website.

Team

Derek Capo- CEO

Capo’s is the former Vice President of International Relations at RoboTerra, founder of Next Step China, LLC and co-founder of eFin.com, he was also a hedge fund analyst and has a bachelor’s degree in business administration from FIU.

Joey Pacetti- CFO

Pacetti is currently the Vice President at Capital Bank Financial Corp where he handles mergers and acquisitions. He has an extensive background as a CPA and is primarily responsible for helping to analyze acquisitions and partnerships both abroad and in the US.

Carlos Salzar- Systems Administrator

Salazar has extensive experience working with a large portfolio of enterprise offerings from companies such as Cisco & Microsoft. He is primarily responsible for the merchant services API as well as several other projects. He has extensive experience developing API’s for online casino companies and strives to build high-quality implementations for TokenPay.

On the fence

While the company has many great features associated with their coin, they are only about 50 percent complete with the final product.

Next year will be the make or break time for TokenPay, depending on the success or failure of the Blue Diamond debit card.

Once it is launched they will have to compete with others in the same crypto debit card industry.

We reached out for more information, most importantly, how many registered users are there? Because if you want to be better than Bitcoin, you can be better, but you need to be bigger than Bitcoin. However, we were met with silence.

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Texas Securities Regulator Actively Targeting Crypto-Related Scams

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While the SEC has certainly been active in combating ICOs that violate securities laws, there’s another regulator — one that few would ever suspect — getting involved in the battle against crypto-related frauds. In the last several months, the Texas State Securities Board has taken a number of enforcement actions against allegedly fraudulent companies in the space.

Anyone who has ever driven through the state knows that Texas highways are festooned with anti-littering signs emphatically warning drivers “Don’t Mess With Texas.” It seems promoters of sketchy ICOs should take that warning seriously as well. In the last six weeks, the Texas regulator has taken enforcement action against four cryptocurrency-related companies.

Actions

On Dec. 20, the Board issued an emergency cease and desist order against USI-Tech Limited for “promising low-risk, triple-digit returns from investments tied to Bitcoin mining.” The regulator alleged that USI-Tech was “soliciting investors in dozens of Texas cities through targeted craigslist advertisements, YouTube videos, and standalone websites.”

The Texas regulator gained even more attention when, on Jan. 4, they issued an emergency cease and desist order against BitConnect, whose BitConnect Coin (BCC) then had a market cap exceeding $4 bln. The Texas State Securities Board found that “BitConnect has disclosed virtually nothing about its principals, financial condition, or strategies for earning profits.” The state’s securities commissioner found that BitConnect was guilty of selling unlicensed securities to Texas investors and the Board thus ordered the company to halt all marketing to Texans.

Not even three weeks later, on Jan. 24, the Board issued an emergency cease and desist order against R2B Coin, a “Hong Kong-based company selling investments [in] r2b coin, promising investors that the digital currency will soon be one of the world’s most valuable.” The regulator alleged that R2B Coin had told investors that the coin “will never go down in value.”

Most recently, on February 3, the regulator filed an emergency cease and desist order against DavorCoin, “an entity offering investments in a cryptocurrency lending program in Texas.” The Securities Board “found that DavorCoin is telling investors they can earn lucrative profits by investing in a lending program based on a new cryptocurrency.” The Board pointed out that DavorCoin has been telling investors that “lending $30,000 in davorcoin may earn $15,390 in the first month of the program and receive $107,217 after 120 days.”

Cooperation

The Texas State Securities Board cites a cooperative working relationship with other regulators and law enforcement agencies:

“The State Securities Board worked in cooperation with prosecutors and law enforcement agents in 12 counties and three federal jurisdictions in Texas, including United States Attorney offices, the FBI, the U.S. Postal Inspector, IRS-Criminal Investigation, and county law enforcement agencies.”

Texas Securities Commissioner Travis J. Iles writes that this cooperation is crucial to the Securities Board’s success:

“Our coordination with state and federal authorities is critical to the effective prosecution of investment fraud in Texas. We are able to leverage resources to help shut down and prosecute large, complex fraudulent schemes that are inflicting harm on Main Street investors in Texas.”

Good regulation?

Many in the cryptocurrency community shun regulation in any form, an attitude that harkens back to Bitcoin’s crypto-anarchist roots. However, as digital currency begins to go mainstream, unsophisticated investors will increasingly be targeted by scams and fraudsters. Regulators must be careful not to make broad, sweeping changes without fully understanding the consequences of their actions. However, smart, careful regulations can actually be a good thing, and such regulatory activity can make crypto much friendlier for new investors.

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There is no doubting that the most recent price tumble in Bitcoin and related cryptocurrencies from November 15 has caused a bit of fear and panic across the investing market. Those who were looking for their crypto investments to go back up were left shocked, but for traders, there is a glimmer of hope.

Prior to the near 40 percent collapse in the price of Bitcoin, which saw it go from over $6,000 to under $4,000 in two weeks, there was a long bout of near static price volatility. The traditionally wild price swings of Bitcoin abated for some time, which saw a big drop in trading volume.

Traders who had been thriving on the volatile price movements of Bitcoin were suddenly left bored and uninterested as traditional, major stocks like Apple were shook up more violently on a daily basis than the steady cryptocurrency price.

However, the price drop has seen a massive return of volatility for both Bitcoin, and a number of other altcoins — which are trading places in regards to market cap on a regular basis. The price may be falling and causing fear and panic, but there is an increase in trading volume and a bit more excitement for day traders.

Black Thursday

Bitcoin broke from its nearly parallel price movement, which began on September 6, on the same day that Bitcoin Cash began its controversial hard fork. Thursday, November 15 saw the price of Bitcoin drop dramatically form $6,200 to 5,400 — nearly a low for the year. It held steady for a few days before losing another $1,000.

During this period of tumbling prices, Bitcoin has gone as low as $3,600, representing a huge loss in gains. However, in between this dropping price, there has been some up and down volatility that has not been seen for some time.

A chance to cash in

The traditional cryptocurrency investor is either one that trades on the daily, or is in it for the long run — known as Hodlers. Of course, for those who bought in at a time when Bitcoin was going up and topping out at $20,000 in the hope of being a Hodler, this drop in value has been gut-wrenching.

But, for the traders who are looking for quick trades and vast price movements, there is a big chance to play the market and get some quick gains. While the overall trajectory has been downwards, there has also been instances where the price of Bitcoin has rebounded significantly.

In the last few days alone, Bitcoin has gone from $4,200 to its lowest mark in 12 months, but it has also shot back up by almost $700, representing good chances for traders to make quick money.

A boost in trading volume

One big and important metric in the Bitcoin blockchain is the trading volume of the cryptocurrency. It is clear that on big drops in price, there is an increase in trading volume which must be assumed to be a panic sell off, but in general, the trading volume of Bitcoin is up, which could be indicative of increased day trading.

The trading numbers of Bitcoin have been hovering over $8 bln this past week, and this compares to times of low volatility where the volume was hovering below $4 bln.

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Tuesday marked yet another day that did not change the ongoing stagnation in the cryptocurrency market. In the absence of news, good or bad, the price of most assets continues to consolidate.

 

The total market capitalization is in the vicinity of $420 bln for the third day running, the dominance of Bitcoin is stabilized around 34.5 percent and its price spans the range of $8,600-$8800. However, we are seeing more and more signs of an upward movement in the market as a whole, which we discuss below.

 

Rearrangement

By the time of writing, there’s been some rearrangement in the top 10 coins: Litecoin gained 13 percent and toppled Cardano off fifth place. LTC took a while to show itself, and now, it’s ready to catch up.

 

According to technical analysis, it’s about time for investors to determine the further movement of the price, which is what they did. The news background for this is provided by the upcoming fork LitecoinCash, promoted by a third-party developer team. We would like to warn readers, though: Litecoin creator Charlie Lee believes the future fork to be a scam and advises caution. Stellar is looking rather well, having grown by five percent.

 

The remaining coins are trading near yesterday’s values. Beyond the top 10, ETC continues its victory march, gaining an impressive 23 percent and reaching $35.

 

The new logic of the market is emerging from such price breakthroughs by individual assets. While most coins continue to trade in a narrow range, the earliest birds in the form of ETC and LTC, and previously BCH and XRP, confirm the global reversal and future growth. Investors are simply tired of waiting and are beginning to take action regardless of the main asset price.

 

BTC/USD

Despite the apparent lack of change in the BTC graph, on Tuesday we witnessed a number of important events. First of all, the price has corrected to $8,350, tested the descending channel, as well as the relatively weak 0.236 Fibonacci retracement. If the bears wanted to succeed, there was no better time to act. However, buyers were able to protect the level and push the price into a safe zone.

 

pic

 

Second, Bitcoin continues to hold in the middle register of the rising channel, which received two more confirmations in the past 24 hours and became a substantial support. We expect a gradual price movement toward $9,000, and then a breakthrough to  $9,300-$9,500, indicated in red. Yesterday's recommendations to buyers remain relevant.

 

LTC/USD

Despite the fact that on Tuesday Litecoin practically fell out of the triangle formed by the ascending and descending channels, the downward break turned out to be fake. After returning to the figure, as we expected, prices rushed up at very large trading volumes. The current maximum was recorded at $185, after which the price went on to test the important level of $175.

 

pic

 

We see a lot of buyer activity and Litecoin is likely to continue growing toward the goals indicated earlier. However, the fluctuations in Bitcoin price may inhibit growth, which is true for all altcoins in general. In the case of quick arrival to the goal of $215, medium-term investors have every moral right to book part of the profits.

 

ETC/USD

In the course of 24 hours, Ethereum Classic climbed up to two places in the ranks of coin capitalization and came very close to number 13. On the way there, it reached the goals indicated in the previous review and broke through the ascending channel. At the moment, ETC looks somewhat overbought and we expect a slight correction to the levels of $29-$32.

 

pic

 

Ethereum Classic is precisely following the levels determined by Fibonacci extensions, which are clearly visible on the graph. Therefore, the next prospective target is seen at $43, but there is certain to be a stop on the way, in the region of $38 where there used to be a strong resistance level. Our recommendations to readers remain the same: ETC looks like an excellent investment at least until early March. Hold.

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