What is Your Advice on Buying EOS (EOS) Now at $1.62
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.
Wait for 50 cents
@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! ^_^