On Jul 03, 2017 EOS made a high of $5.40 now it is trading at $1.62
The cryptocurrency markets are down in general on the bitcoin segwit news.
We all know markets dislike uncertainty
In the next few weeks as a resolution occurs most likely between July 20th and August 1st we should see a big rally and the bull will be back.
EOS undervalued at $1.62
I would appreciate your thoughts and opinions on this one. Is this a buying opportunity on EOS?
There is an extremely insightful discussion taking place in the comments. Please add your insights too and support traders helping traders!
Even though it is created by Dan, I personally don't support the EOS ICO for its' 360 day uncapped ICO. I don't know if that was changed though.
But on an objective note, I don't think that is the floor price yet. I'd wait for the next ICO window and compare that with market prices.
I bought my first ETH at .94 cents and it "Dumped" all the way down to .70 cents... lol
Just bought some EOS today. I think we could see it as low as 50 cents, but if it's successful at challenging ETH then these small price movements will be a joke in a few years.
EOS should be a 2-3 year minimum hold. Not day traded. IMO
This infographic.. I designed to explain recent events in the altcoin is all you need to know ! ;)
https://steemit.com/crypto-news/@outerground/the-altcoin-price-volatility-curve-explained-in-a-simple-infographic
Totally agree, I feel that is the problem, everyone expects such a quick payout, when it drops they sell too quickly. I feel if you are going to invest into something such as ETH or EOS you need to ride the waves and just leave it alone. Especially now so early in the game.
Yup waiting for it to hit $.50 a pop.
Im not sure if you follow my blog, and know my strategy but basically I take safe trades based on the chart action. All of the breaks of Bases/Support areas are opportunities for a trade that will bounce and give profit :
So if you buy in those circles, you could easily sell the next bounce and start accumulating free EOS coins for the future, without any loss from you pocket.. There is a clear base right now at 1.35 so I would buy any crack of that base that has some panic selling.. maybe near 1.00 or below...
Now what do I think will happen long term with EOS? Well since there ICO will continue for a YEAR!!! omg.. thats alot of dilution.. and in cryptocurrencies, a coin is old news in a few weeks.. theres always something new to attract everyones attention.. So while i really believe in the project, I think it will be under great pressure for a while and I will start to hoard a position at lower prices..
I definitely agree, this is a great strategy if you believe in the long term prospects. Much easier in a bull market but super effective.
Big shout out to @quickfingersluc your videos introduced me to cryptoland, and your strategy is solid. Thanks!
:)
From what I can see on the EOS charts, it looks like a classic P&D.
A lot of resistance levels to clear though on pushes to the upside.
@jerrybanfield made a nice video on this:
https://steemit.com/eos/@jerrybanfield/best-time-to-buy-eos-or-any-new-cryptocurrency
He's recommending to wait for 1 year before buying into a new coin for the market to solidify. He has some good examples.
I don't trust that guy
I would say a definite buy @outerground 's picture speaks volumes
If you are in it for the longterm and want to hold for at least 2-3 years this is the time to buy in.
I personally do not trade new cryptos because they are not established yet. They have not shown that they can keep their value over an extended period of time. Many cryptos go to exact zero after the initial hype. Yes you might win big if it goes up again, but who knows?
What I do is I scan for volume spikes if the currency has kept its value for at least a year (better two years) then go with the flow and buy again the first dip.
EW analysis:
I looks like a double ZigZag correction is over or about to be over. If you see a spike up above 2.35 it is likely that the correction is over and a new upmove could slowly develop.
@jordanlindsey Appreciate the invite to share my thoughts on this.
@quickfingersluc is correct that you could practically speaking do some short trades to profit off of this. I've done similar with Antshares and PIVX successfully. Long term? Hard to say.
@kaizentive is correct that people invest money they can afford to lose but aren't comfortable losing.
I'm not as sure on the long term prospects of this. Much like Ripple or IOTA I see lots of potential surrounded by lots of controversy. Controversy isn't always bad look at Eth or Bitcoin, but people also are skeptical for a reason. The lenght of the ICO for instance does seem strange at the very least.
Should you invest long term or not? That really depends on how confident you are in this. @rabbt pretty much covered it. It's almost guarnteed to gain some vlaue.
Right now the price is all speculation. I'll probably buy some low, sell some high, then like I did with Ripple hold onto a little on the chance it takes off. I see it as 50-50 chance. Without more proof it's really a gamble at this point and just depends on your faith in the dev team to deliver what they promise in the long run.
Nice recap of the conversation and pointing out some of the beneficial comments. I appreciate you @exavier
Also glad you mentioned PIVX because I have been meaning to pick some up for the long term and this seems like a possible entry.
My pleasure glad I could contribute.
PIVX is another I'm on the fence on for long term. Not holding any current bought it for under $2 then sold it when it went over. Been debating on buying more. While solid I feel it's somewhat overvalued since other coins such as Novacoin and XVG are pretty comparable if not better in some respects. I will say that PIVX has an active community and the dev team seems solid. Might buy a little of that just to hold onto and see where it goes.
Hi @jordanlindsey, I agree with @forward-thinker, prices haven't hit rock-bottom yet. ICO is still open though, you might want to check in daily contribution status in last hour or 30 mins of every ico window, and gauge which path will give you more value on your money- buy in the market or join ico. Goodluck!
Can anybody add to this?
"which path will give you more value on your money- buy in the market or join ico"
How do we know?
In every 23-hour ico window there is a set 2M eos tokens for distribution. Your tokens from ico is computed as- your contribution over total contribution. Example you sent in 1 ETH and the window ended with 4000ETH contribution. Every ETH contributed is given 500EOS in this case.
You can compare this at the current market price, how many tokens will you get for 1 ETH if buying on the market?
Hence the reason why I mentioned viewing ICO contribution towards the end of the 23-hour window. No guarantees though on ending contribution of course, unlike in market purchase where you know exactly how many eos tokens you'll be getting.
Yep, a lot of sense. Following you for more
Thanks for the follow and goodluck! ^_^
I think that EOS is at a great price to buy right now. Cryptocurrencies are going to bounce back. A combination of things, like all of the ICO's being bought into daily for ten of millions of dollars and then dumped for 2x to 4x returns, are making the market volatile while it adjusts. Ride the wave!
EOS is now available on Exodus and Shapeshift! Just picked up a few. kaBOOM!
I hope we see a nice POP in the coming weeks @champagnecrypto! I will sell a portion into it and look to pick up more at a later time lower. Right around these levels when this area is tested again.
This is what I am doing.
The bottom hasn't been hit yet. It will level out below 1.5 for sure. The first window price was under 1$ and the second around $1.25. I believe the bottom will be closer to $1.25. Remember that new tokens are still being issued each day. There is no shortage of supply.
I am very bullish and want to hoard some myself but after my purchase in the first window and then the one at $6 I had to liquidate all of my holdings so I could break even.
Once the bottom is clearly hit I will buy up a large amount to hedge my ETH holdings
Using your analysis so far I am leaning now toward buying around here now (1/3 of my desired position) and with another 1/3 order in at $1.25 and leaving the remaining 1/3 position open just in case it drops below $1
Thank you @forward-thinker for your insight on this
That is a solid plan
Thanks for those numbers @forward-thinker, I'll be dollar cost averaging my way in.
what needs to happen is a steady increase in value in crypto. now you guys might not think it but bitcoin is going to be bigger then it is today. so make sure you guys keep a eye on it for the next few years.
Yes, indeed. We need to think it terms of years not weeks or months. The market cap should explode within the next 5 yrs.
all we need is another big explosion in the price and we will be millionaires, lol
thanks for inviting. I would put EOS in my portfolio because it is part of Dan's family and it is an upgrade of decentralised concept of bitshares and steem. I guess the value will go up when the dust go away.
One of the main things I dislike in cryptocurrency world is the insane greed that's currently plaguing it. I get it, people want to make money but please be reasonable.
EOS is the definition of greed. They have a no working product and an uncapped ICO that will be running for a year basically like a Ponzi scheme.
Don't get me wrong. It might be amazing and might revolutionise internet in a few years but they are currently valued at 350 million dollars (used to be billion....) and all they have is an idea and a flashy website.
Sorry but I wouldn't recommend it until they actually have something that works.
I hope in the success of EOS because it will directly affect the value of Steemit having the same founder.
Same here. But I wouldn't invest until they actually have something that works :)
Yep, it's definitely leveling out and most likely undervalued. I could see this rising back up but not at the speed that it did before
It might take some time before (if) the highs are tested again. But we should see a sharp rally in all crypto once this bitcoin mess is resolved - which it will be
Thank you for invite @jordanlindsey
Very interesting but very dangerous as well.
An ICO for a year? Unproven tech?
Essentially they will be selling an unproven token to the public priced on future promises.
We all know how fast development can go in this industry.
You might have better odds betting on a number on a roulette table.
Things are moving faster and faster. Good point about the ongoing ICO for a year..
It would be a different story if they would have an ICO in a month time and their roadmap points them to release first proof of concept within another month.
But to have it go on for a year.... a loooooot of things can happen and change in a year time.
I see a lot potential in Eos as a long-term ( 6 months to 1 year ), actually, my idea that keeps me from it at the beginning, it still the same, after 2 Monday massacre in just one month, Trades fear to risk investing a new ICO, they keep it safe targeting the major altcoin to avoid unpredictable loss.
I think it is important to have the majority of our investments in the major players and only use a small portion for high risk investments such as a new ICO. Just like in the dot com bubble (we are not yet near a crypto bubble IMO) IPOs would jump. There is plenty of money to be made on ICOs just now when to get out. EOS seems like a long term play which is why I am interested in the community's opinions on buying.
I think it's not a good idea to invest in EOS at this stage but then again I'm the kind of person who would rather buy a coin at $40 to see it reach $300 rather than buy a new coin at $2 which may possibly perish.
Is it possible to sell short alt coins? Take those with a market cap of under 1 Million and sell them.
buy now , going high
EOS back above $2 and +24.13% today
Hi Eos is good coin you can bankable on that but not only eos all alt-coins effect too much because of market volatile
please be patience until august everything will be fine in the market.
I think so. Once the whole bitcoin saga works itself out we should rally back toward the highs at least to test them.
No one can see the future but at the moment I think it's a good idea to buy it now (if you have money) and hold it for long term like 1-2 years or more.
I am staking as much as I can. I won't sell until my mom is talking about crypto
EOS is a currency that will raise its price, is a currency with a good team behind and its caput is well above other currencies, more than 100ken BTC AND 1 Million ETH in investments are a good backup. These heavily backed coins withstand strong waves. By the end of July you could pick up about $ 3.00 to $ 4.00 approx. @jordanlindsey
I am thinking the same. Even if $ 3.00 to $ 4.00 is not maintained for an extended period of time we could see a spike towards those levels toward the end of the month.
I do not have time to do detail checking about EOS but I will do. Thank you for good post.
Well EOS was added to the EXODUS Wallet Update so that should bring it to the Attention of holders of this Wallet. I may look to enter some.
Thanks for making me aware of this.
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@jordanlindsey I'm rather new that this but I am in it for the long haul. I see the potential for it to rebound. New markets like this will always be rocky but I have seen better results for those who stay in then get out. Of course I'm not as invested as others but I am not going anywhere.
That is really a good point. Buy and hold for the average investor is more profitable than trading.
Hi jordan
Given the volatility in the market it is better to watch closely and do not take extreme risks at this time.
I know selling into the drop would probably be a mistake. Seems to me 3-6 months from now that not buying during this drop will also seem like a mistake. The industry is going through an enormous growth stage.
Don't. EOS is more buggy, has a less experienced team, and doesn't provide the same communication that new projects like FunFair do.
EOS is bloated af and they're hurting ETH in general. They liquidated sure, which was a lot better than dumping, but even so, they're product now isn't as good as some of the things FunFair is testing.
Fate channels are the future. I could care less about gambling, but the tech is fucking awesome.
1 FUN is less than $02. And it's up when most are down. The choice is obvious for me, but I could be wrong.
That being said, I'm trying to buy FUN back in on the low, so don't buy yet :P
That is interesting as gambling and porn kinda always lead the way on the internet in tech. I of course don't want to support either in any way. Going to research Fate channels, thanks @ stephenhenkel37
if you have EOS on you already, then certainly hold on to them as the market is going through a correction phase. And if you haven't bought any, then it's a phase we all should take advantage of. Think of it like a period where cars prices drop really well, wouldn't you seize the opportunity to buy a car - whether for trading purposes or for personal use.
Hey man if you feel like buying then go ahead and buy it. Buy in moderation is what i will say. Thanks for the invite @jordanlindsey. These prices are going up and down due to bitcoin segwit process which i think is the most probable solution for the current lag in bitcoin transactions. I dont think bitcoin will be broken down into parts like ethereum. So if you have the guts to buy some eos do so but in moderation for we dont know what's in the future for us.
Thanks for the invite again @jordanlindsey.
Upvote, COmment and Follow me. See ya.
Don't worry about it. Buy SALT! https://membership.saltlending.com/?r=idZCN
Its still at $1.50 and going to $3 VERY SOON!
i see thinks comong more better ;)
Personally i think it wise to wait for august myself, its difficult to speculate with so much going on in the crypto markets. I'm aiming to keep hold of bitcoin so if there is a chain split i will have coin on both chains :)
With the potential the EOS could have I think this is a good price, but overall I don't prefer investing in Ico's
not right time wait a while, as more coins comes to market we may see dilution (2m per day)
I believe the price will drop even lower. I wouId wait a couple weeks
I think It will dump even more. So wait until it gets changed its trend
I believe this is a good time to buy In general.
As far as EOS this may be a good time to get it as well at the price it is now. You would think it will definitely go back to $4.50 at least. Only time will tell tho I guess. Good luck & Steem on :)
Seems like the the bottom hasn't been hit yet. I agree with @forward-thinker. I would be waiting ...
Very helpful article Thank you
I think it depends on your goals/strategy. I expect it will go above where it is now sometime within the next month, though it may just be part of an overall market bounceback. My guess is the bottom is $1.30, and that will be after another slight rally, based on this chart looking at the last 32 hours or so.
But in term of long term viability, I'm not convinced. It's way too early in the project to tell. Right now they're riding on hype and marketing. Hype and marketing can make you money short term, but long term gains take results.
I would say hold long term until next year
Wait till above 26th of July
If you are in for the long run i think is worth it (i dont own any) , my point is that it's a good time to buy and hold , i bought some cheap coins and will keep them in my wallets . I'm not in a hurry :)
I am not a pro financial advisor and even if I was I do not have a crystal ball.
As always, buy when the market is low. Buffet says be greedy(buy) as people panic and sell when people get greedy(price is up). (That I know of Warren Buffet is no financial advisor either but, he did pretty well for himself.)
My two cents is that if you want to hold a position ie. 47 EOS buy bit by bit over a few days until you are there at 47. If you buy all at once you are risking the down trend. If you buy a little at a time you spread your hedge. Look at the long term and draw a line above and below the channel to see the trend. Only invest money you are comfortable losing.
Some people invest money that they can afford to lose but are not comfortable losing. Big difference!
Wait, it will go down even more.
this is the best time to buy and hold
The crypto market going down in general I would only really pick this up if it went to something super low, I would look for a 100% retracement for a quick bounce but don't expect anything big right now, keep a look at the stoch RSI though or MACD whichever you prefer to see the momentum of the coin. Also what luc pointed out. You could also wait for a break of the support level to go for a quick trade.