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EOS Price Continues to Drop, can it Really Start a New Bull Run?

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EOS has had a busy month, and not all of its efforts had resulted in a positive way for this crypto. Its price has been dropping for over a week now, and the crypto reached a serious low. The situation is similar to the one it experienced in April, which has caused many to believe that it might, once again, spark a new bull run.

EOS price drops due to various problems

The situation in the crypto market has not been great lately, and a lot of cryptos have seen some major price drops. EOS is among the ones that were hit the worst, due to several reasons.

This has been a busy month for EOS. Not only did it had to postpone its MainNet launch, but the network experienced some major issues when it finally went live. The situation was handled within hours, which proved that the team behind it is efficient and professional, but many have criticized it for even allowing something like that to happen.

Additionally, only days ago, EOS has witnessed another fiasco when its 21 block producers took matters into their own hands and have frozen up to seven of its accounts. They did so due to suspicions of theft, but despite the noble intention, it still wasn’t their decision to make. With all of this happening in the short amount of time, the coin’s price has suffered greatly.

Earlier this month, EOS was in the green, and everything seemed to be going well for the coin. It managed to reach $22 per coin after the market started to recover in April, and EOS enthusiasts believed that the coin might even double that. It certainly had the potential, and investors could not have been happier.

However, that is when all the previously mentioned issues started to appear, and the price started to go down once more. In a few short weeks, EOS has experienced enough problems for its price to keep sinking, until it reached the current $7.62 per coin.

What awaits EOS in the future?

For now, experts believe that the price will stabilize, and remain between $7.00 and $8.00 per token. This seems to have been the correct estimate, since the situation has been like this for several days, now. It has allowed this crypto the time necessary for carrying out damage control, and with a little luck, things might go for the better soon enough.

One proof of this is the situation that the coin has had to endure back in April. After falling down to similar price, not only was the coin capable of rising up once again, but it even started an entire ‘bull run’, and has affected other cryptos. This is something that only a handful of coins have been capable of doing, with Bitcoin (BTC) itself being the most influential in the group.

Because of it, the experts are calling it the ‘Bitcoin effect’, and it might be one of the reasons for EOS even hitting the $20.00 mark in the first place. Unfortunately, the same seems to be working in the other way around, and EOS is not the only coin whose price has dropped. It definitely seems like it is capable of influencing the market with its price’s behavior, which is why all the cryptos may benefit if EOS can find the way to improve.

This is, of course, all speculation at this point, and not really a valid investment advice. Still, it might happen, if the history decides to go full circle in repeating itself, which makes it worth mentioning and watching out for. Nothing is quite certain when it comes to cryptos, and all that anyone can really do is wait and see how the situation unfolds.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Devilgorgor via Flickr

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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