Our EOS Price Prediction for 2023: How Will the Coin React?

Introduction:

Cryptocurrency investments have become a captivating but often perplexing endeavor for traders, particularly newcomers to this dynamic asset class. Among the numerous digital currencies in the market, EOS has piqued significant interest due to its potential to address the scalability and high-fee issues that have plagued Ethereum and Bitcoin. In this article, we will delve into our EOS price prediction for 2023, drawing insights from technical and fundamental analyses, as well as the perspectives of leading crypto experts.

I. Overview of EOS

EOS, standing for Evolution of Scalability, is a blockchain project introduced with the goal of overcoming the limitations of other cryptocurrencies. It employs the EOS.IO blockchain protocol, designed for smart contracts and decentralized applications (dApps). EOS's innovative protocol, championed by creators Brendan Blumer and Dan Larimer, has been on a mission to revolutionize various industries by emulating computer storage and processing hardware.

II. Pros of EOS

1. Developer-Friendly: EOS boasts a user-friendly platform with a plethora of built-in functionalities, including a role-based permission system, simplifying the dApp development process.
2. Tokenized Governance: EOS token holders can participate in the platform's governance, with their influence proportionate to their holdings, while also gaining equivalent bandwidth access on the network.
3. Self-Sustaining Model: A fixed rate of inflation, set at 5%, ensures consistent rewards for miners and sponsors decentralized app proposals, effectively minimizing fees.
4. Speed and Scalability: Thanks to its parallel processing technology, EOS can efficiently validate and process transactions, positioning itself to handle millions of transactions per second.

III. Cons of EOS

Despite its potential, EOS is not without its drawbacks. It has faced controversy, notably regarding a moderator's ability to reverse confirmed transactions in 2018. Moreover, EOS's governance structure relies on a limited number of block producers, which can potentially undermine its democratic principles.

IV. EOS Price Analysis

EOS's price history reveals fluctuations since its inception in 2017. The cryptocurrency experienced sharp price spikes and declines throughout 2020, with an all-time high of $5.37 and a low of $1.86 per token. These price movements presented both short and long-term opportunities for traders.

V. Expert Opinions

Notable crypto analysts have offered varying EOS price predictions for 2023:

• Satis Group: Predicts a target price of $3.6 USD for 2021, expressing a bearish stance on EOS.
• Margin Buu: Expects EOS to bounce upwards around $2.6 and reach $2.8 but anticipates a subsequent downtrend.
• Mati Greenspan: Highlights EOS's growth but has reduced its weight in his portfolio.
• Brave New Coin: Suggests EOS needs to break from consolidation for a bullish market sentiment.

VI. Should You Buy EOS in 2021?

While opinions on EOS vary, consideration of the descending triangle pattern suggests caution. Short-term investors may find more promising opportunities in assets like Ethereum. However, for those with a long-term investment horizon, EOS could be a favorable choice, especially given its potential for growth over the years.

VII. Monthly and Long-Term EOS Price Forecasts

Experts provide diverse predictions for EOS's future:

• In 2021, EOS price forecasts range from $5.24 (Digitalcoin) to as high as $13.08 in 2026 (Digitalcoin).
• EOS is generally viewed as a viable long-term investment, with a consensus that it could quadruple in value by 2025.

VIII. Contrasting Predictions

EOS price predictions are polarized, with some pessimistic scenarios forecasting a value of $0.1 in 2022 and others envisioning EOS reaching over $100 by 2025.

IX. The Future of EOS

EOS's future hinges on rebuilding user trust, especially in light of past governance issues. The platform's growth will be driven by alignment between the collective body and individual interests.

Investing in forms of cryptocurrency like Ethereum, Bitcoin, and EOS can be confusing for traders who are new to this emerging asset class and its underlying blockchain technology. If you find yourself in this situation, you may have asked questions like “Is EOS a good investment?” Or perhaps you’ve been wondering what the long-term price projection is for this cryptoasset.

Our guide will cover the most frequently asked questions about EOS across the crypto market. We hope that, after reading this price prediction guide, you will feel comfortable and confident formulating a decision on whether or not to include EOS in your investment portfolio.

Read on to find out all the most important aspects of EOS price forecasts, such as technical analysis, fundamental analysis, and targets from the industry’s forefront crypto experts. So, how will the price of EOS fare in 2021? Let’s discuss the future of the coin.

Overview of EOS

EOS is a top cryptocurrency project that was created to solve the flexibility, speed, scalability, and high-fee issues present in Ethereum and Bitcoin. EOS uses the EOS.IO blockchain protocol, which is a smart contract platform usable for decentralized applications. This protocol was designed to be an enterprise solution to emulate computer storage and processing hardware, for scaling computer resources, and more.

EOS underwent a whitepaper release in 2017, which was developed by Brendan Blumer and Dan Larimer. The first EOS ICO (initial coin offering) launched in June of 2017 and finished one year later. The ICO brought in $4.197 in raised capital – which broke records at the time.

EOS is more controversial than other forms of cryptocurrency. However, it also has the largest profit potential in the long-term due to its disruptive technology. The EOS.IO’s protocol blockchain technology could potentially change the future of computer applications and resources in a drastic way, thus improving upon numerous industries. This is what would cause EOS’s long-term value to rise exponentially.

Pros of EOS

EOS’s blockchain platform is a user-friendly, stable offering that ICOs and dApp developers are able to depend on. Here are a few ways that EOS is worth its salt:

EOS Price Today (EOS/USD) – How Is the Price Changing?

The price of EOS has fluctuated ever since its creation in 2017. Check out the graph below to see how the value of EOS has changed over the last year.

EOS Recent Changes – 2019 & The First Half of 2020

EOS has experienced some significant changes in value over the last 12 months – as you can see from the chart, there was a large spike in value around February and early March of 2020, but then it plummeted in value in late March and early April. Since then, it has slowly been stabilizing – with the exception of another spike and fall in September.

Throughout 2020, EOS reached an all-time high value of $5.37 per token and its lowest point this year was $1.86 per token. Both pairs give traders an excellent long opportunity as we are coming out of two years of drawdown and a bearish market.

Looking Back on EOS

Based on our studies of EOS, along with the analysis of expert opinions, this cryptoasset is showing the signs of being on the verge of a huge breakdown. In early September, many kinds of cryptoassets fell across the market. While ETH and BTC have made significant progress towards undoing the downtrend, EOS has barely recovered.

EOS hasn’t been able to extend bullish action greater than $3 since September’s drop. EOS bulls seem to be exhausted by the frequent rejections caused by the 50 SMA. Furthermore, a descending triangle appears to suggest that the EOS price may be headed towards $1.75. This descending triangle pattern was formed in 2018 – so it has been in the works for quite a while.

Expert Analysis of EOS Price

Interestingly enough, despite the descending triangle pattern, some experts are not in agreement about the predicted price of EOS. We’ve compiled analyses from top industry traders and publications.

Satis Group

In 2018, the expert analysts at Satis Group demonstrated that Ethereum is one of the only projects that can remain viable in the smart contract niche. However, the Group projected a negative result for EOS, with a target price of $3.6 USD for 2021.

Margin Buu

“Pro” Trading View user, Margin Buu, predicts that EOS will bounce upwards around $2.6 and be led across the $2.8 mark soon. However, the EOS/USD trading paid should see a downtrend, as specified by an analysis on the D1 timeframe. Traders should anticipate a short crypto opportunity, and the market will shift from buyers to sellers.

Mati Greenspan

Mati Greenspan, a senior market analyst for eToro, believes that EOS is a very exciting project and is one of the quickest-growing networks in the cryptoasset industry. In an interview with Cryptoglobe, Greenspan indicated that the total amount of developer activity for EOS is more than any other form of crypto except ETH. However, when Greenspan was asked whether he was bearish or bullish, he said that he has reduced the weight of EOS in his portfolio.

Brave New Coin

In a recent video , Brave New Coin notes that breaking from the current consolidation is crucial for EOS. This will give the market the confidence that the coin will go higher. As it stands now, the sentiment is more bearish than bullish.

A strong zone of resistance rests at $3.70 and $4.80-$5.90 with an equally strong support level at $2.40-$2.92. Yearly pivot levels reflect resistance at $4.50 and $6.75. This means it’s unlikely to grow higher in the near future.

The trend will stay bearish until the spot price is below the Ichimoku Daily Cloud, currently at $3.10.

Our Verdict: Should You Buy EOS in 2021?

While the experts see to be split on EOS opinions, we favor the ones who take the downward triangle into account. It is overly optimistic to expect EOS to reach $100-$1000 in a few years.

Monthly EOS Price Prediction: Now Through December of 2021

Here is what some experts anticipate EOS prices being between now and the end of 2021.

Long-Term EOS Price Forecast: 2021-2025

According to Digitalcoin, EOS should reach $5.24 by the end of 2020, $6.56 by the end of 2021 (once again, both forecasts are similar), $7.74 for 2022, $9.35 for 2023, $10.69 for 2024, and $11.86 for 2025. They’ve also predicted $13.08 for 2026, but this is too far in the future to confidently predict.

Is EOS a Viable Long-Term Investment?

Most experts that we studied believe that EOS will increase in the long-run (with the exception of WalletInvestor, which believes that the price will fade away to basically nothing). The degree to which the coin will increase is contested – some analysts seem overly optimistic.

However, we can be fairly confident that EOS will quadruple in value by the end of 2025. So, yes, if you are interested in long-term investments, EOS is a good option. As we mentioned earlier, though, if you’re looking for a quicker profit, you’d be better off going with a different cryptoasset.

Negative EOS Price Predictions

In the absolute worst-case scenario, according to WalletInvestor, EOS will only be worth $0.1 in January of 2022. Then, the price movement will stay the same for approximately 2 years, after which it will reach $0.5 by 2024. In 2025, if this prediction is correct, EOS would only then reach $1 in value.

Positive EOS Price Predictions

The majority of EOS price predictions are positive; we’ve gathered a few just so you can see for yourself how the long-term positive predictions can differ. These are projected figures for EOS in 2025.

The Future of EOS

The future of EOS largely depends on whether or not the developers are able to gain back the trust of users – especially after the aforementioned moderation fiasco. Furthermore, EOS is often seen in a negative light due to its governance policy requiring 15/21 approval from the block producers and underlying token-holders. When the interest of the collective body is aligned with individual interests, this is when EOS will thrive once more.

However, regardless of whether EOS does reach that thriving point, it is still slated to have eventual increases in the long-run.

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