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EOS Price Prediction and Analysis: Not affected by Bitcoin's fall. Mainnet launch is coming. Thursday, May 24

24 may 2018, 20:55

Bitcoin's influence on the market

Few days ago Bitcoin made an attempt on reaching $9000 price mark. As it failed to do so, BTC contributed to a notable fall in prices in the whole cryptocurrency market. Within two days BTC price has dropped from $8500 region down to $7500 and is still falling further, however it seems like it will stabilize around $7500 for a while, before making another run for higher prices. The whole cryptomarket turned red for a moment. However, EOS stood out and hasn't been affected by the price change that much.

Important EOS News

EOS Mainnet launch ahead

There is a lot of stress and buzz around EOS, as the launch of EOS mainnet is scheduled for 1st of July, which means that in a week time there will be a lot of changes for EOS as a project, as well as for EOS token holders and the whole community. The current investors should begin researching how to swap their Ethereum based ERC-20 tokens for EOS unique coins. The most probable way will be through one of popular exchanges. It is possible there may be some deposit delays as a lot of transactions will hit the network in the coming days.

EOS Press Release stated that: 'Within 23 hours after the end of the final period on June 1, 2018, at 22:59:59 UTC, all EOS Tokens will become fixed (i.e. frozen) and will become non-transferrable on the Ethereum blockchain.' You can register your ETH address where the tokens are stored through Exodus.

EOS Price Movement Analysis

Usually, when a price doesn't change much the investors aren't that happy, as they would rather see it growing and going up. However, in that case a stable price undoubtedly saved EOS and put it on advantage compared with other cryptocurrencies and altcoins. While the whole cryptomarket experience a huge losses, EOS was affected only partially and for a short period of time.

EOS traded in a $12.50 range and during May 23rd lows dropped to $11 region. Currently, only after one day it has recovered again to the $12.

EOS/USD Price Chart, Thursday May 24:

EOS Prediction

EOS mainnet launch will be everything that investors should put in mind at the moment. If it succeeds the price will surely go up, save assumption would be $20 mark. However, if the tokens begin to be double spent or simply the technical issues will cause problems with the token swap and the whole launch it will undoubtedly reflect on the price dropping it probably into $8 region. However, even after a failure with the launch, the technology and features which EOS want to offer will remain and begin to work. If the technology itself will be found useful, the price will naturally recover and eventually reach high goals, despite the outcome of the sole EOS mainnet launch day.

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