EOS is, by far, the most used blockchain in the industry. Compared to other platforms, with more than 47 million on-chain operations daily, EOS is 8 times more active than any other blockchain. Moreover, it supports all this activity with relative ease. As such, it is also one of the most important cryptocurrencies in the market. Therefore, to better understand its potential, here are five top EOS price predictions for the year 2020.
What is EOS?
EOS is a blockchain platform for decentralized applications (dApps) with user authentication, cloud storage, and server hosting among other features. Similarly to Ethereum (ETH), it is an all-in-one solution for dApp developers with token launch capability.
The EOS ICO started on June 26th, 2017, and lasted a few days short of a year. Through it, Block.one, the private company behind EOS, raised roughly $4.2 billion for the platform development. Immediately, the cryptocurrency community marked it as “the Ethereum killer”.
Despite presenting the leading threat to Ethereum’s domination, ERC-20 standard was the first solution for EOS tokens release. Once Block.one launched the mainnet on June 1st, 2018, tokens migrated to their native blockchain. Since then, EOS’ price stumbled from $12 to today’s $2.47 per token. Currently, EOS is 7th according to its market capitalization with a daily trading volume of $1.5 billion.
EOS Price Predictions 2020
In order for you to better understand EOS valuation potential, we selected 5 of the best price predictions:
- Wallet Investor
- Trading Beasts
Wallet Investor - EOS Price Predictions 2020
Typically for this outlet, Wallet Investor brings the most pessimistic EOS price prediction. According to them, EOS has the potential to sink all the way to $0.59. If this forecast comes to pass, EOS would lose 76% of its current value until the end of 2020.
Nevertheless, according to Wallet Investor’s charts, EOS should go through two major pumps during the first two upcoming fiscal quarters. During the first rally in late January, EOS should reach $5 only to drop to around the current valuation again. However, May and June will bring another surge when EOS may hit the $8 price level. From that point onward, Wallet Investor states, there is a spiral decline towards the mentioned $0.59.
Trading Beasts - EOS Price Predictions 2020
According to Trading Beasts, the beginning of 2020 is going to be tough for EOS investors. Their prediction reveals that the coin is going to lose almost 15% of its current valuation to find the support at $2.12.
However, contrary to Wallet Investor, Trading Beasts don’t see EOS plummeting towards the $0.59 abyss. Instead, this price analysis outlet predicts a steep rise in March towards $3.02. This value will be the highest in the following year. Nevertheless, they don’t see EOS declining in any rapid movement, but melancholically stagnating towards the year’s closing price of $2.84.
Source: Trading Beasts
If these predictions actualize, current EOS holders could score a profit of 14.74% if they sell in December 2020.
Capital.com - EOS Price Predictions 2020
Capital.com offers an extensive technical analysis to bring us their EOS price prediction for 2020. According to their article published on November 28th, EOS has a good chance to regain at least some of its former glory.
Capital.com’s forecast reveals that EOS is on the rebound with the tendency to reach the major resistance level of $9 at the very beginning of 2020. The cornerstone for that kind of positive sentiment was found in the hypothesis that EOS bottomed out this October around $3.50. However, the market reality is way different because EOS lost 29.5% since that price.
The chart that Capital.com presented reveals their belief that the $9 price could turn to support as EOS continues to exponentially grow towards the end of the year.
U.today - EOS Price Predictions 2020
U.Today’s EOS price prediction for 2020 is a great example of how the change in market conditions can radically influence the forecast. The article we’re about to present came out in May. It covers all the major upsides of the EOS ecosystem and, according to that, comes to the final verdict regarding the price of EOS in 2020.
U.Today, states that, if EOS continues to develop constantly, the price of the token could finish the upcoming year inside the $45-$70 range. While that still may be possible, it is important to note that, at the time, EOS had a price tag of around $4.50. However, the price slid down by another 45%. If EOS is to hit U.Today’s price, it would need to gain at least 1721% in a single year. While that too may be possible in the cryptocurrency market, it is very highly unlikely.
Coingape - EOS Price Predictions 2020
CoinGape states their belief that “EOS is a good investment both in the short-term and in the long-term.” To emphasize this bullish forecast, the author of the article from August 18th states that EOS could even trade between $20 and $30.
This claim finds backing in the prediction that the market as a whole is going to perform much better than in did through 2019. As one of the most prominent cryptocurrencies, EOS should do the same and find new highs as the following year passes.
Of course, CoinGape published the article when EOS still held a value of $4.16. Considering the recent price decline, this may also turn out to be the prediction that went a bit over the top.
Conclusion – Top EOS price predictions 2020
By taking a closer look at these 5 price predictions, we come to the conclusion that the possible price of EOS in 2020 is somewhat polarizing. While Wallet Investor forecasts a complete and utter catastrophe as the coin is to drop towards $0.59, U.Today predicts the price to reach at least $45. The difference between these two is a huge $44.41, or 194.8%. This shows a wide disparity in experts’ opinions regarding the subject.
Therefore, every cryptocurrency trader should be aware of the basic differences between these predictions. While some sources try to forecast the price of an asset using only technical analysis, others are doing the same with fundamental aspects of the coin. These two methods are rudimentary different and, as such, may lead to diametrically different results. In the end, it is up to you each investor and trader to decide which prediction method works for them.