As we seem to be in the middle of a bull run, many questions pop up. Is it going to be a Bitcoin-only run? Or are there altcoin projects which might provide nice gains for investors? Instead of covering the more dominant crypto projects such as Ethereum and Ripple, which are promised substantial gains today, we will look at an interesting British crypto project Electroneum at its possible price movement.
- Most Electroneum price predictions are Bearish, despite excellent fundamentals.
- Electroneum adoption numbers rising every day are not enough to boost the price.
- Realistic electroneum price prediction is $0.044 by the end of 2020 and $0.16 in 2025
What is Eletroneum?
Electroneum is a mobile payment-based project targeting the growing niche of unbanked individuals in various countries around the globe. As a solution, ETN is utilized as a form of micropayment, especially in merchant systems that might include cross-border transactions. Making ETN has quite a broad use case.
Electroneum is both the company behind the cryptocurrency and the actual currency. The currency symbol is ETN. Project authors claim they are the first British cryptocurrency.
The reality of Electroneum as an investment
To understand is electroneum a good investment, we must start with a brief look back. After a successful ICO(Initial coin offering), many Electroneum user accounts got hacked, which led to a sudden price drop. As you can see in the chart below, the Electroneum price dropped from $0.23 to $0.06.
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The price of Electroneum did revive after the fix, and investors saw the potential of this mobile-friendly cryptocurrency. It grew from $0.06 in November 2017 back up to $0.22 in January 2018, recording a growth of 122% in less than three months.
The coin is currently ranked #154 overall by market cap as of the date of this article.
Bellow, we shall list positive and negative Electroneum price predictions and leave it to our readers to decipher which ones seem the most likely.
Positive predictions for Electroneum price
For example, according to Crypto Coin Society, there should be a steady price increase yearly as noted in the graph below.
Positive factors that influence the price in a bullish direction
- Electroneum has an actual use case with an increasing number of users.
- During the 2018 bull run, recording a growth of 122% in less than three months.
- ETN has an experienced and reliable team at the helm of the project
- Has a notable partnership with Paycent, a Singapore-based company that allows crypto payment to be used for fiat payments
- Strong social media presence
- Easy to use App allowing swift adoption
Negative predictions for Electroneum price
2020 end of year prediction would be a disappointing $0.001 and by 2023 only grow to $0.005 according to Cryptogeek. However, the forecast suggests a bullish potential by 2025 to 1$ per ETN if market conditions change and adoption increases exponentially.
The bad news continues according to the technical analysis from Coinliker. The analysis below will show a grim picture of the Electroneum project.
On a similar note, CryptoGround forecasts that the price of electroneum will only reach modest levels of price increase.
Another negative prediction comes by way of wallet investor analysis. It predicts that the price of Electroneum would increase at a negligible pace as opposed to other crypto projects. Some factors why the Electroneum might not be as strong as other crypto projects:
- Stiff competition from projects such as Dash
- Few exchanges host it
- Reliant upon growing their user base
- Highest price point was post ICO
Electroneum price prediction 2020 – 2025
These estimates might seem relatively tame. Predictions for a price increase to about 1$ per ETN for the end of 2020 and up to $2.4 by 2025. However, with an avalanche of opinion based price predictions. We would suggest always conduct your own project research that would take into
account many factors, for instance:
- Social sentiment
- Bitcoin price correlation
- Past bullrun activity
- Partnerships
- Number of whales and regular users
In conclusion
Electroneum is an accessible and exciting project with a real use case. However, as things currently stand, it still needs mainstream adoption for success and not only in developing countries. Thus if you believe that this run will only see a price surge of the usual suspects – big players in the top 10 cryptocurrencies, Electroneum might not be an excellent investment for you. However, suppose you think that a continually growing user base and great accessibility might have a better future than many projects that do not have an actual product yet. In that case, Electroneum might be an excellent investment for you.
