EOS price prediction 2021: does the coin have a future at all?
About EOS and its importance to the crypto industry
EOS is a blockchain-based decentralised platform that enables the development, hosting, as well as execution of decentralised applications (dApps). It has been around for several years, and like any other crypto project that focuses on development, rather than payments – it was inspired by Ethereum.
However, EOS has a goal of being better, faster, more scalable and providing greater and more advanced services, which makes it Ethereum's rival.
The project started its ICO back on June 26, 2017, and it ran until June 1, 2018. Back then, this was the longest ICO of all time, and also one of the most successful. After the year-long ICO was concluded, EOS emerged with the raised $4.1bn, which quickly attracted attention to the project.
Like most ICO projects, EOS was launched on Ethereum's network, from which it later migrated upon creating its own blockchain. Unfortunately, the project faced quite a lot of issues when the time for its mainnet launch had arrived, receiving a lot of criticism. After delays, the mainnet finally saw the launch in mid-June, only to get frozen two days later.
But, despite the rocky start, EOS eventually managed to pull itself together, launching quite a competent blockchain.
At the time of writing, December 1, 2020, EOS coin is the 13th-largest cryptocurrency by market cap, which is currently slightly above $3bn. Meanwhile, its price sits at $3.26, while its 24h trading volume exceeds $4.5bn, proving that many are still more than willing to invest in EOS in late 2020.
How did the EOS price perform over the years?
In order to better understand EOS future price and provide an answer to the question “Is EOS a good investment?”, we should first look back and see how the asset has been performing after its very successful ICO, and difficult mainnet launch.
When it was first launched, the price of the EOS cryptocurrency sat at $2.29. However, it then doubled in less than 24 hours, with EOS hitting $5.40.
This hike did not last, however, and the coin soon started falling, breaking one support level after another. EOS found its bottom at $0.59, which is where it remained until late October 2017. Once the crypto bull run that marked the year reached its peak, EOS joined the rally, and it skyrocketed to $16.39 on January 13, 2018.
However, while most coins peaked around this date or earlier, EOS' all-time high came later, in April 2018. In mid-April, the crypto market – which had been crashing since January – started seeing a new bullish wave. Prices started going up, and many assumed that the so-called 'crypto winter' was over.
These days, we know that the surge in April was only the eye of the storm, as the crash continued as May 2018 arrived. But, for those few weeks, the EOS price jumped once more, breaking its former record, and going up to $22.89. This was the coin's highest price, and it has never reached these highs again, at least so far.
Following this second surge, EOS kept dropping, briefly stopped by support here and there, but eventually, it dropped to its new bottom at $1.86 around December 7, 2018. In 2019, the coin saw gradual growth, although it progressed slowly, and everything it had achieved by mid-2019 was undone in the second half of the year, as it slowly returned to the level where it sat ever since – between $2 and $2.8.
The EOS price has fluctuated in this range, except for on three occasions in 2020. The first one was between mid-January and mid-February, when it joined another bull run that took it to $5.35. The second was in August 2020, when it hit $3.7, and the last one is right now, led by Bitcoin (BTC), which is once again approaching its all-time highs at $20,000.
EOS, on the other hand, is as far away from its own record as it can be, hovering around $3.26.
What is happening to EOS these days?
Unfortunately, EOS has not been making headlines in 2020, as the crypto industry is mostly focused on the decentralised finance (DeFi) sector. When DeFi started slowing down, bull runs took over, and most of the attention went to Bitcoin.
However, that does not mean that EOS has been doing nothing. Its developers at Block.one recently announced the EOS Resource Model proposal, and the soon-to-arrive review of various talented organisations that responded to the company's invitation to evaluate their code.
Block.one also recently expressed its pleasure with how Spielworks built a rewards and loyalty platform for gamers using EOSIO.
The company also worked on adding new features to its Training and Certification segment of the blockchain.
And, of course, as a development platform, EOS has also been making moves to attract people to develop new DeFi projects on its network. The network already has quite a few successful projects, although the majority of the developers are still focusing on developing DeFi on Ethereum.
EOS price prediction 2021: what to expect from EOS going forward?
Lastly, we arrive at the most interesting part — EOS coin price prediction for 2021 and beyond.
According to TradingBeasts, the EOS price in December 2020 will reach a maximum of $3.4, after which the forecasting service expects it to drop back down to $2.7, on average.
In January 2021, its EOS crypto price prediction shows the coin remaining near this level, at around $2.7, later expecting it to experience a slow but steady rise throughout the year, with the coin having the potential to hit a high of $3.9 next December. The average price of EOS is predicted to reach $4.07 in December 2022, and then $5.03 in December 2023.
Wallet Investor also expects the currency’s price to rise in early 2021, although their EOS coin forecast says that the asset will see a price crash in the second half of the year. The event will potentially lead EOS down to $1.2 one year from now.
As for CryptoGround, they have a very bullish EOS prediction. In fact, their EOS forecast claims that the coin will simply keep climbing, with its value reaching $4.17 in six months, $4.7 in one year, and $21.4 by December 2025.
The bottom line: is EOS a good investment?
Out of all these predictions, WalletInvestor's seems the most plausible, as EOS is likely to keep heading up as it follows the current crypto rally. However, judging by its past performance, the coin is likely to see a strong correction once the rally comes to an end – possibly down to the suggested levels.
But, there are no certainties when it comes to cryptocurrency prices, which makes even CryptoGround's extremely bullish prediction quite possible, although less probable than others.
As always, we strongly recommend you do as much research as possible, considering the latest technical analysis, expert opinion and market trends, before investing in EOS, as well as any other financial asset.
If you think you are not ready to make long-term investment commitments, but still want to try to profit from market volatility, you can do so by trading EOS through contracts for difference (CFDs) at Capital.com.
Trading CFDs offers investors the opportunity to try to profit from both bullish and bearish price action. You can either hold a long position, speculating that the EOS/USD rate will rise, or a short position, speculating that the rate will fall.
Trade EOS to US Dollar - EOS/USD CFD
Note that CFDs are a leveraged product. Therefore profits, as well as losses, are magnified.
You can learn more about CFD trading with free online courses and find out how to trade EOS CFDs by reading our comprehensive guide. Once you are ready, create a trading account at Capital.com and follow the latest crypto market news to spot the best trading opportunities.
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