The cryptocurrency market is going through one of its many price corrections and value has tumbled. Do you buy or keep off EOS (EOS), Ethereum (ETH) and Qtum (QTUM)?
Deciding whether to buy or stay away from a given coin is one of the toughest moments for investors. It’s especially tougher when the projects in question have a potentially bright future.
EOS is an attractive proposition at the moment. It has high stakes around its mainnet launch scheduled for June 1, 2018. If everything goes according to plan, EOS could be one of the biggest platforms in crypto. With that, its prices would definitely be up there. However, the downside would be if things don’t go according to plan and the mainnet launch fails to hold promise. As an investor, this could present a catch 22 situation.
Nevertheless, the EOSIO platform after mainnet will have a major advantage over its closest challenger Ethereum- Scalability and interoperability. It is expected that the platform will attract many of the developers who’d have used the EVM.
The other thing that works in its favor is the determination of the team behind it. The founder Dan Larimer has the support of Mike Novogratz and Eric Schmidt, two investment tycoons. Then the focus of blockchain software giants in Block.one means nothing is expected to go awry.
The EOSIO launch is also supported by major exchanges like Binance, Bitfinex, Kucoin, and Bithumb. Other than that, the EOS team has also earmarked four airdrops in the month of June. With days to June, now could be the best time to buy EOS tokens. At $12 against the USD, it could get $50 in 2018.
Ethereum is second only to Bitcoin (BTC) in terms of market cap. It is the biggest dApps platform and is generally seen as one of the few platforms that could go on to make the future. The crypto is currently facing pressure to stay above $500, but from a historical and fundamental viewpoint, it could well be the best time to buy ETH.
In 2018, the price of ETH dropped as far as $370 before rising more than 100% to test the $800 level. With the current bearish trend not showing any sign of abetting, the diehard investor can wait a bit longer and see how the market moves. It could drop below $500, which is still a very good opportunity to buy a coin with the potential to rise to over $1000 in 2018.
Ethereum has proven in the past that it can rally to new heights and every indication is that it will do so again. Even though it mirrors price movements of Bitcoin and other major coins, Ethereum has the capacity to break on its own.
The Ethereum team is working on a few improvements in their technology to compete with newer platforms. It may face massive pressure, but the tested and trusted tag should help it withstand. Although it should be pointed out that there’s a regulatory dark cloud hanging around ETH. It could destabilize the crypto, but not in a major way.
Qtum (QTUM) is sometimes lumped into the group of platforms referred to as “Ethereum killers”. However, unlike EOS or TRON that are looking to launch their mainnets, Qtum is already up and running. Its platform is already hosting several dApps, cementing its position as a working product. It’s, therefore, one of the most underrated projects.
The blockchain technology behind the “Quantum” project is a unique one. It integrates Ethereum’s smart contract operability with the formidable blockchain technology of Bitcoin (BTC)’s UTXO. What these do is to make the two interoperable when deployed via QTUM apps.
Qtum has demonstrated that it is going after mass adoption, with huge partnerships that could be pivotal in price movements when the market turns bullish. One of them is the recent PundiX partnership. The Qtum team had this to say about it:
“Qtum, the first successful Proof-of-Stake blockchain, is a big step closer to mass adoption after striking a deal that will allow people to use QTUM tokens to pay for goods in shops across the world.”- Qtum official
Currently, at $13 against the US dollar, QTUM is a mile away from its all-time high of $100. This is a definite buy; expectation of at least double returns in 2018.
Conclusion: For all the coins, buying low and selling high is the target. However, it’s a gamble. What you should do is to be streetwise in your dealings- know when to get in and when to cash out if you have to.