[Updated October 15, 2019] — EOS is only beginning its journey. It is separated from other digital currencies, both in technical characteristics and the scale of its goals. This is one of the main reasons it managed to raise $4 billion during the ICO (Initial Coin Offering). The main objective of this platform is to become an enterprise-grade solution for the deployment of decentralized applications. The team behind the project have shown a very responsible approach to its technical documentation, appearance in the media, and overall presence in the crypto industry.
Experts’ Opinion On Why EOS Will Rise
EOS is the 8th largest digital currency in terms of market cap and it’s currently trading at $3.12 after a .85% gain over the past 24 hours. The coin has become very popular due to its decentralized apps and smart contracts, which have proven to be better than Ethereum’s. Developers of the network state that it’s not affected by the scalability challenges that affect other public coins.
Let us take a look at why experts think that EOS’s price will rise.
According to Business Insider, the EOS platform will continue to evolve and will soon become the most preferred. The publications believe that the coin’s price will surpass $10 soon.
Additionally, a panel of 10 experts analyzed the performance of 13 leading cryptocurrencies to give their predictions. The panel was extremely bullish about EOS. On average, the panel expects the coin to reach a price close to $18.7, which represents an increase of 727% since January this year.
According to WalletInvestor, investors should consider EOS as a favorable investment option. The site believes that EOS’ price will reach $911 by 2023. They attributed this positive prediction to the recent developments in EOS platform and increased adoption in different industries. These are significant determinants of cryptocurrency’s success.
Investopedia also named EOS as one of the most promising digital currencies out of the many that exist today. The site mentioned that EOS offers more scalability compared to other cryptocurrencies and that it is revolutionary as it lacks a mining mechanism to produce coins. The platform also includes a system of complex rules to govern the EOS rewarding process, which makes it more decentralized.
Additionally, according to Coinbase, “EOS is a cryptocurrency designed to support large-scale decentralized applications. There are no fees to send or receive EOS.” The platform made this statement after adding support for the EOS cryptocurrency for its retail customers. This positive statement and development show that the coin has a bright future.
Technical Outlook on EOS Price
The analyst says that the chart shows a price moving in a possible downtrend channel or even bull flag with the price having already completed waves ( abc )and currently we have are at wave (d) in view with a potential target towards 0.000730.
This is a long position chart on the price of EOS where the analyst says that there is a potential of over 530% gains in the long run.
Now, let’s take a look at EOS ( EOSBTC ) long-term.
- Notice that the early Dec. ’17 support has been activated with a strong bounce following.
- The MACD is gaining momentum to the upside while showing strong bullish divergence from EOS price.
- The RSI is sitting now at 60.20, really bullish .
QuantumHF says there are good prospects for medium-term purchases in the range 0.00063-0.00055. Investors can set Stop price at 0.00047 with the target level at 0.00165.
Want to learn more about EOS? Read our Beginner’s Guide to EOS here, complete with a history of the project and fundamentals of how the coin provides value.
Interested in investing in EOS? You’ll want to start with our EOS price prediction article—including short-term and long-term outlooks. (Always do your own research and read the site disclaimer)).