Wether or not you are in it for the tech, the money or a little bit of both, you have to agree that price speculation is fun. And we are all hoping to become financially independent (Thanks Bitconnect-Carlos, for destroying that phrase for ever) and be part of a cool crypto hub drinking strange coffee, brewing beer and trimming each others mustaches. So let’s try and figure out which price we COULD be looking at if we enter a real bull market.
So, we’ve been at around 23$ in May 2018, with a market cap of 24B USD. At the same time ETH had a 70B mcap and Bitcoin a 160B mcap. Total Mcap was 420B.
Now, EOS was having it’s mania phase right about then a month before main net launch. It went up like every other crypto in late 2017 as you can see, but that was mostly pure speculation. Most people had no clue what EOS was back then..Let me rephrase that; Most people in CRYPTO had no idea what EOS was back then. Most PEOPLE don’t know what EOS is even today.
Lets assume that 80% of ERC20 tokens were scams or are now abandoned projects, and we are going to 1 trillion total mcap, and money is flowing back in to not only Bitcoin but from Bitcoin to altcoins (not that I consider EOS an altcoin to Bitcoin) then all of that money will be distributed to much fewer cryptos. People are probably smarter, and they have learned from A lesson at least – and that is that Ethereum has too many problems. But people want crypto and they are excited about crypto, so where are they going to put their dollar? My guess is mainly EOS, because there is so much development going on, and I just came home listening to I think it was Cypherglass podcast on youtube where they talked about adding biometric fingerprints and/or face recognition off line in your phone so that your phone works like a ledger or trezor. I think the Lynx wallet has solved a lot with their brilliant wallet, and perhaps Block.one will launch a wallet as well. But the main driver for mass adoption is mobile, free/almost free account creation and biometric log in instead of remembering passphrases.
So, EOS it is. How much will flow directly into EOS, and how much will go from Bitcoin and ETH and other coins to EOS. Could we expect the same kind of hype that ETH had in 2017? Going from 10$ to $1500USD? 150x? No, i don’t think so, nor do I hope so. 150x would mean a $900B mcap. That is not impossible, but very unlikely as of now. How about 150x from it’s lowest price of 0,5$? $75USD? Absolutely. Could it overtake ETH? Absolutely.
The past week ETH has risen about 5% whereas EOS has risen 25%. If this were to continue in a bull market towards 1 trillion, EOS would overtake Ethereum in about 10-12 weeks reaching a market cap around $40 billion and a price of $42USD.
If the market went up 7% every week, as has been the gain for Bitcoin the past week – we would reach 1 trillion in about 21 weeks. The total mcap has actually gone up more than 12% the last week.
Add another 10-12 weeks to EOS and we reach a price of around $80-90 in a 1 trillion dollar market.
So I make the case for EOS at at $80-90 per token and a 80-90B mcap.
That is my prediction IF this is the actual beginning og the bull market. I’m not quite confident about that yet. I think we have to see the total mcap over 500 again and hopefully Bitcoin over 12k. Then I will seriously start to believe.
How high can EOS go eventually? 500$ per token? It could.
What do you think? Does my prediction sound reasonable? Or is it way too positive or perhaps too negative?
Check out some of my recent posts on Trybe as well.
A Practical Guide To EOS Knights
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