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EOS price prediction: Is it a worthwhile investment in July?

By: Invezz
EOS price remains in a bear market despite ongoing optimism on the cryptocurrency market

EOSIO EOS/USD is a decentralized system infrastructure that is based on blockchain technology which works towards the empowerment of hosting, development as well as deployment of commercial decentralized applications or dApps on its platform.

The EOS token is required to power the dApps as well as the governance on its blockchain.

EOS attempts to solve the problems of limited availability of resources on the network, as well as false transactions, similar requests, spamming apps, and so on.

EOS Price Analysis

On May 12, EOS saw one of its highest points of the year at $14.37. Since then it has fallen 75%.  Can EOS retest its prior highs? 

If we want to truly see where the coin could be headed in terms of value, we need to analyze the potential it showcased in June.

On June 1, it had a value of $6.69. The lowest point it fell to was $3.22 on June 22. This signaled a drop of 50% in value.

This gives us a perspective as to how low, and how high in value has gone as of recently.

Furthermore, we have a clear perspective as to what one of its more recent all-time high values was, so we can know what to expect even if the market has a boom and EOS gets to the top.

Should you buy EOS?

On July 9, EOS had a value of $3.58.

This is by far one of the lowest points it has ever been on, and we can say this for sure based on the data we can see throughout the previous two months.

This is why it might be the best time to buy and invest in EOS at its $3.58 price point, as it has shown historically that its value can go up a lot higher than that. 

Given the fact that we have seen an increase in dApp development, and that EOS themselves have put up guides on installing the EOSIO Binaries, we can expect increased usage of the blockchain.

Furthermore, as the ecosystem and dApp library grow, so will the demand for the cryptocurrency token EOS.

With the increase in demand for the EOS cryptocurrency, so will its price and circulating supply.

On July 9, EOS had a circulating supply of 955,026,112.10 EOS tokens, with a market cap of 3,419,334,212.

This signals a huge interest in the blockchain as a whole, and we can expect it to rise going forward.

At its current rate, EOS should hit the $4 mark by the end of July, making it a worthwhile investment.

The post EOS price prediction: Is it a worthwhile investment in July? appeared first on Invezz.

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