EOS 1st June announcement. What will happen to the price?
Many might already be aware that Block.one is gearing up for a major event on 1st June. It is expected that the company will announce some fantastic news related to EOS, the blockchain project by Block.one. Here are some of the potential announcements that the company might make.
Possible Announcements
A Social Network Built on EOS
One of the highly anticipated news is a social network built on EOS. This is hinted by Dan Larimer in one of his earlier tweets.
Many Steemians consider this social network to be a Steem killer. Only time will tell but I am pretty sure it will come along as a strong competitor.
A Wallet with Biometric Authentication
In this article from EOS, they talked about passwordless authentication being the future. Hence, there are some people who think that one of the possible announcements is an official wallet that authenticates through fingerprint readers that most smartphones have these days.
Government Partnerships?
Dan Larimer also said the following on Telegram,
This led to some people thinking that there might be some kind of partnership with the US government. Though Dan did deny this possibility later on, there is still a slight chance there will be some government related announcements.
Price Movement
Since 25th Mar when the announcement of the event was made, EOS price has been climbing steadily. Lately, perhaps also due to Bitcoin price movement, EOS price shot up even more. In fact price has went up by more than 120% since 25th Mar and for the past 1 week, the price surged 30%.
Source from CoinGecko
This leads me to wonder how will the price react after the actual announcement. I think this might be a classic case of "buy the rumor, sell the news" and therefore the price is likely going to fall substantially. I know this might be an unpopular opinion, but I have seen it happen too many times in all sort of markets.
What do you think? Do you think EOS is going to go higher after the event? Or will it fall after that? Let me know and thanks for reading!
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I picked up a few EOS at $3 so might sell tomorrow for profit and hope to buy back more in a couple of weeks. It' only a small few so nothing serious but would be nice to gain a few more from the trades.
They released the EOS code for the biometrics for the wallet... let’s see how long when scatter and others implement it 😀
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