EOS Price Is About To RisesteemCreated with Sketch.

in eos •  last year

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Introduction

In this post I will provide five reasons why I believe the EOS token price is about to enter a strong bull run. I have based my reasoning on facts and tried to be as objective as possible.

My background

I live in Westminster London, not the houses of parliament Big-Ben Westminster but the City-of-Westminster in SW1. I work in the Technology industry as a Business Developer and my chosen sales area is West London, mostly the area of Mayfair. The reason I chose Mayfair is because this is where most of the Private Equity and Private Banks are located. Global Banks and the High Street lenders tend to have their Head Quarters in Canary Wharf E14 and E15 postcode (the London finance sector), but the private money is in Mayfair. On a daily basis I speak to many independent Private Equity companies.


Reason one - EOS Testnet is about to launch

Dan Larimer and the Block.one team have confirmed that the EOS Testnet will be launched in a few weeks, more precisely it will be launched at the London Blockchain-Live conference held in London on the 20th September. Since the EOS ICO started the main red flag for not participating in the token distribution has been that EOS is currently vapourware and does not have a live working product. Once the Testnet is launched this can no longer be said and looking back at Dan Larimer's most recent Blockchain projects BitShares and Steemit, history has shown that he produces great software products that reach the top ten Coin market cap shortly after their release. Dan has stated many times that it took him and one other programmer just three months to code and release Steemit. Justin the co-founder of BitShares stated in a recent interview by SGTreport.com that -

“The people who say that there is no product yet, Dan has built 2 of them if they think he’s not gonna build the 3rd one, they’re crazy. This is the one he always wanted to build. The other 2 were just helping him get there.”

Reason two - London's Private Equity sector is ready.

As recent as twelve months ago Blockchain tech and Bitcoin where words that only geeks and technologists used, but Bitcoin and Altcoins are moving into the main stream, Bitcoin in particular. In the UK the Financial Times has covered stories about Bitcoin and Cryptographic currencies many times throughout the year and many investors are ready to move a portion of their portfolio into Blockchain tech. The big banks and High Street lenders are notoriously slow and restricted in how they can structure a portfolio, early investment adoption is always from Private Banks and especially Private equity firms who are much more nimble and can take a steer on how their investors want to invest their money. Private Banks and Private Equity will move into Blockchain technology first and then larger institutions will follow.

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Reason three – An audience of investors

I believe this years London Blockchain-Live conference will have a substantially high turn out of Private Equity companies. For the whole of this year there has been good mainstream coverage of Blockchain tech and serious well-funded private investors have no doubt seen the potential of investing. I believe that the conference, which in the past had an audience of mainly Technology experts and Geeks, will now have a large percentage of investors looking to research and mitigate risk for their private equity clients. London is classed as one of the leading technology hubs in the world and I cannot go a day without a customer wanting to discuss Bitcoin and Altcoins.

Reason four - Block.one

There are actually two points I want to make about Block.one, the first is the amount of advertising budget they spent at Consensus 2017 conference in New York this year in May. They purchased just about every advertising space in the conference, which I was told was a figure of over £240k. I attended the London-Fintech-Week conference in July and again everywhere you looked was EOS logos and LED promotional displays. They even had sign written EOS London black cabs to transport investors to after-parties and dinners held at prestigious London venues. My point is they have the money and are willing to own the show and spend capital to promote their product. The difference now is at the London Blockchain-Live conference it won't be vapourware but an actual product with a live testnet, which they will be promoting.

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Which brings me onto Block.one's CEO Brendan Blumer. This is a person who knows how to present a technology product. I watched and listened to him present a number of times at London-Fintech-Week and his pitch is flawless, and yes I call it a pitch because that's what it is. Make no mistake it is a sales pitch. Brendan has owned multiple companies in Hong-Kong all of which have been successful and he has public speaking down to a fine art. I personally run a monthly technology dinner at the Shard in London Bridge with guest speakers, so I get to see and hear many technologists speak about their services & products. Brendan is one of the most confident public speakers I have seen for a technology product. Where he really excels though is in the Q&A section. I must admit I thought this would be when he may come unstuck and the cracks would begin to appear. However he answered challenging questions head on and with relative ease, there is not a doubt in my mind that he knows the EOS product inside out but more importantly he knows and understands the competition and can articulate and confidently communicate EOS's unique selling points’ which is a key skill when speaking to hungry investors looking to jump on the Blockchain band wagon.

Reason five - EOS Price is currently in a downtrend

At the time of writing this post, the price is at £1.09 ($1.40) per token down from the recent all time high of £3.36 ($4.31) back on July 3rd. It has been in a strong bear trend for just over a week. There is also a clear downward trend line on most price-chart time frames. EOS token can be purchased on the Bitfinex exchange or the CHBTC exchange. For USA citizens you may like to read this post by Kingscrown - How to buy a VPN with SBD


Summary

  • EOS will no longer be vapourware in September.
  • Blockchain technology has hit mainstream news.
  • London's Private Equity sector is ready to invest heavily in Blockchain technology.
  • Block.one has an experienced, well-versed and well funding sales team.
  • EOS is currently controlled by the Bears and is in a downtrend.

Final thoughts

I will be keeping a close eye on this downtrend and as soon as it breaks the current resistance line I will be purchasing as much EOS as I can get my hands on prior to the Testnet being launched.

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Bitshares and EOS are now my two largest crypto holdings. Steem is my third. I have extensive experience evaluating more traditional investments and the same due diligence process led me to BTS, EOS, STEEM, BTC and STORJ.

I expect EOS to be in the top 3 on CMC by this time next year. Not investment advice. :)

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Agreed. When the FOMO and the hype have dissipated, Utility will always be where the money ends up.

I have a background in Forex. I would be interested in hearing more about your due diligence checkpoints. Maybe catch up via discord chat? Thanks for stopping by @johnsmith.

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I'd be interested to hear more about what lead you to Storj.

Any thoughts on Neo/Omg/Bitcoin Cash?

after reading this i want to buy more EOS
thx for the tips this is good news !!

Steem on!!

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Errrr body wants EOS :) This is a good Telegraph channel @madarauchiha if you have not already joined and want to keep track of Dans comments. https://t.me/daneos

I needed this kind of info. I'am sitting on some EOS for a few weeks now and up to this point was asking myself "did I just get fooled... there is nothing happening???". I hope this first tests get the train moving in the right direction. Will buy some more EOS today ;)

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Haha! Yeah, i also thought that... but we're early adopters and that's the risk we take i guess. My reasoning was i'm investing in Dan Larimer and i had to ask myself do i trust he can deliver, Steemit is the only blockchain Dapp i use so it seemed reasonable, then after meeting the team i was certain it would happen. Thanks for the comment @demions much appreciated.

Didnt know about the testnet in September

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They may release it at the 3rd Blockchain summit in Shanghai on the 14th Sept, but it will definitely be during Sept. I think it's pretty much ready now reading the Discord dev channel.

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I needed this good news :)

The moon better have enough space for all of us

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Lol, yes it seems the planets are aligning :)

I am a big believer in EOS and just brough more at $1.38, I also swapped 2 ETHEREUM for it also. Thank you for your article @res and I hope you are right, you sound very knowledgeable ;)

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Hi @mike-power, i agree it's got legs, Dan wants to create DEX Dapps and the like, we could definitely do with more of them, Sam Kazemian and his team are currently working on a Wikipedia Dapp for the EOS platform and i've heard there's a few game projects underway so it's getting off to a good start. p.s i used to DJ at the underground club Maidstone (1998-2002) ;)

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@res thanks for the heads up and love your info.
I love the underground scene, that's where it all started for me back in 2007 🎶😊

EOS has a bright future. The competition with other Blockchain 2.0 networks will ensure excellent features and continued improvement to these networks for the market to build apps on. The decentralisation train is slowly departing the station and increasing speed.

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@wekkel, your right. I never considered the competition creating an uplift in feature qualities but your right it will. I like that Dan and the team have a whole year to develop the product. Indeed it's an exciting time to be involved in tech.

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I just increased my stake in EOS, just because it seems a network that still has a lot of potential, even at tokens just above $1.30.

On Github, the EOS project has Milestone 1 called 'Test Network Release'. As of today it is showing as 36% complete. I agree once people can see it up and running the price will go up.

This is the link -> https://github.com/EOSIO/eos/milestones

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Nice Stat, i didn't know that was available. I know that Dan and the team are currently testing the testnet as it were but it will be interesting to watch and see this % go up as Sept approaches.

Brilliant Blog, I could say more but I would just be gushing.

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Thank you @deaconlee, must appreciated :)

Do you think the resistance confirmed at $1.30 USD?

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Hey @jarib thanks for the comment, i'm looking at a longer time frame for entry (monthly), i'll probably hold EOS for a good few years, so i'm personally using the Hrly chart for entry. There does seem to be consolidation at the 1.39 $ level though (marked in blue). EOS_USD_monthly.png

Great info! Thanks for sharing.

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Thank you @jalai, you are most welcome.

This post has received a 0.78 % upvote from @drotto thanks to: @banjo.

From a technical point of view I was wondering how can EOS build on webassembly? that tech is very new

thank for sharing

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You are most welcome @zhouyagen.

@res, Great article !
I wanted to write a post on EOS this morning but you mentionned most of my points.
I will just quote the MOST important sentence from the SGT interview:
“The people who say that there is no product yet, Dan has built 2 of them if they think he’s not gonna build the 3rd one, they’re crazy. This is the one he always wanted. The other 2 were just helping him get there.”

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The market is primed so it seems, thanks for having a read @vlemon and thank you for the comment.

Congratulations! This post has been upvoted from the communal account, @minnowsupport, by Res from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews/crimsonclad, and netuoso. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.

looking back now, this posts seems too funny

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Hi @vegeto, yeah it did take a while to pick up momentum but got there in the end, i may have had a few doubts when the price went sideways for a while but was confident that Dan would deliver.

I am new to EOS and in blockchain tech in general. I was also sceptical about it after but reading your argument, I am going to buy more :). Thank you

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Excellent! :) thanks for the comment @dimas-alfaruq

Hi Res, it's been two months since you wrote this article. I just wondered if you had any reflections now EOS is looking quite strong on the chart?

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Hey @japan1, i've been busy on a new project so not been on Steem for a while, i think we're set for at least a x2 or x3 leading up to 1.0 launch on the the 18th July. We have also had great news of the Everipedia airdrop tokens for all EOS holders, who doesn't like free coins :)

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oh wow how can we get it?

Res, I really want to thank you for this article. It was the inspiration behind my investment in EOS back at 50 cents. I've got really high hopes for this project in 2018. Thank you so much!

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No problem, same it's looking like a great investment, now comes the hard part, deciding when to do a profit skim :)

Fruitful insight and very impressive for the info about, that's not much contents still over the net. I wonder if I could reblog it?
Thanks

through the research i have done i have to agree that EOS will rise substantially, even compared to now where it currently sits at $8.819. your prediction so far is accurate, and i would like to support that accuracy with some more info: Dan Larimer, Brendan Blumer and Brock Pierce all have very strong reputations with successful businesses. Larimer on top of that created Bitshares and Steemit, both top 50 coins based on Market Capitalization and very successful in their own right
the next is a copy and past of "extrospect" on steemit comparing and even claiming its dominance over etherium.

Without question the most important aspect of EOS is the fact that like Steem, Bitshares and Peerplays, it utilizes a technology known as graphene. Graphene is thirty magnitudes of ten, faster than Ethereum. If you recall weeks ago when Ethereum went into the dumps, as a result of the three days of backlogs for transactions, Graphene would have been able to handle the three days of backlogged transactions in under a second. This throughput allows for real world scaling like we have not yet seen in terms of applicability. This leads strongly into the second part that makes EOS the ETHEREUM KILLER.

EOS can be written in any programing language. This is unlike Ethereum which requires its own (and untested) language. EOS allows anyone to be able to innovate on the blockchain in a reasonable way, where they can use the resources they have already developed within themselves, as a means of achieving a world changing coin. EOS is like the one coin to rule them all.