RE: EOS: Could Have Sideways Price Action

You are viewing a single comment's thread from:

EOS: Could Have Sideways Price Action

in eos •  7 years ago  (edited)

I have to say that this seems very unrealistic to me. The notion that 70-80% of market cap will drain out of a top 10 coin seems unlikely. IF we were going to see this, I think we would have already seen it during the recent violent selloff of BTC. I will admit that I am bullish on EOS long term. Certainly we may see some form of correction, but to suggest such a deep retracement to me seems a bit far-fetched as it would require a cataclysmic dump.

Remember that there are no "EOS whales" out there due to the design of the currency, which I believe makes this coin resistant to severe dumps caused by manipulation. It is much less likely that the distributed EOS investors will all decide to dump their coins simultaneously then say a currency which has a few very large holders. Overall EOS has fared very well in this correction, and I am very convinced that it will be a long term success.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!