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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

Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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