Anyone familiar with price action can fully appreciate the level of built up energy in a product when you see it's price coil to such perfect symmetry. EOS price/volatility is likely to explode out of this tight balance. Stay tuned
EOS, now THAT'S a coil!
7 years ago in #crypto by jbbasics (49)
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$10 EOS < Dec 21 2017. :)
Nice post! 😄 Maybe I should take a look😄
Funny thing about this post...when I saw the chart, it reminded me of the triangle blog you wrote about ether yday and when I scrolled down I found your comment haha!
😄
Thank you. Definitely worth a look. Let me know what you think.
The price coil could be an effect of the daily ICO, serving as a reference point for market to gravitate towards.
That is a good point and something worth considering. I think this would require the majority of people to monitor the ICO on a daily basis and then match sells on exchanges to reflect ICO participation. I tend to think that with the availability on the exchanges, and the relative difficulty in participating in the ICO vs exchanges, that this price coil represents the many other markets (stocks etc) coiling action.
I try to look at the ICO in another way. Take stocks, when you offer new shares the tendency is that the price drops with the dilution. In this case with the level of "dilution" occurring the demand is offsetting it. This ICO is a different monster for sure but I am relying on my study of supply and demand... sprinkling in a little faith in the project. Thanks for the input!
Looks like it, but the wildcard is the year-long ICO... If current price keeps up then the market cap of EOS will be insanely large when the ICO ends.. and that is quite something for an unfinished blockchain. This has many investors concerned about wether or not the current price is going to be maintained. Let alone the effects if it grows..!
Then again, there is the Dan Larimer-effect, which certainly seems real. I think in the long run EOS is not a bad choice, regardless of price point, as long as you get on the train.
Well put. I often think of the same questions. So far in monitoring the ICO there is a steady interest on a daily basis. As you said, there is a lot of time left in the ICO. My thoughts are that smaller amounts will continue to be contributed to the later periods of the ICO and interest will continue to grow as word still spreads and project updates are released... as well as general frustration with ethereum in terms of it being a useful product (already costly and slow). As time progresses the later periods will begin to become congested and we will see a sharp increase in period contributions well above the 15-18k ethereum we are seeing now.
The Dan Larimer effect... just so thoroughly impressed with him. I just have an overwhelming gut feeling towards this project. I do have to remind myself often of the many obstacles that must be overcome to be a complete success. But I'm in it and excited!
Dan Larimer is really the first big name to switch crypto's (sort of). That made me wonder.. what if Vitalik or Charlie Lee or some other big name were to start a new cryptocurrency - would it boom as much as EOS has?
Back to EOS, in the future I think it will reach Ethereum price levels if not higher.. so it really doesn't matter all too much what price you get it at at this point!
i hope so!
what is the expected price you think it will go to?
Depends on what timeframe you are considering. If assuming overall crypto market cap would be at a constant level and not grow by much (unlikely) you would have to figure what size of the overall market could EOS solidify. Could it be as big as ethereum at a $21B market cap (currently)? Then with 1B total tokens one would expect that $20 a coin is very feasible... if however, you are somewhat of a visionary and feel that crypto will continue to grow at an astonishing rate and EOS will fill a fair share of the currency realm while ruling the functionality realm then really the sky is the limit. Being realistic I feel 50-200$ is likely with a lot of room upward. Again, just my humble opinion.
ya i hear ya, it going to that level doesn't seem out the question, unless all the cryptos get smacked , but will recover even stronger