Bitcoin is still the biggest cryptocurrency, but it is definitely not the only one. After the initial success of Bitcoin, over 1500 cryptocurrencies have been launched into the market.
If Electroneum is one such cryptocurrency that has caught your attention, then you have come to the right place. Electroneum, which was launched in September 2017, is currently one of the top 100 cryptocurrencies.
This guide will answer questions like:
- Is Electroneum a good investment?
- What is the Electroneum price prediction?
- How has Electroneum performed in the past?
So, by the end of this guide, you will have a good idea about what Electroneum coin is and how it is different from other coins. You will also have learned about various top Electroneum price predictions, including popular 2020 and 2020 forecasts.
While cryptocurrency is an extremely unpredictable market, the aim of this guide is to provide as much information as possible. It is always recommended to consult a financial expert before making an investment in cryptocurrencies.
Understanding the basics of any cryptocurrency is very important if you are planning to invest in it. So, let’s first learn a little bit about Electroneum (ETN) itself before getting into ETN price predictions.
If you feel you’re already familiar enough with Electroneum, feel free to skip to the Electroneum Investment History section.
Table of Contents
- 1. What is Electroneum (ETN)?
- 2. Electroneum Investment History
- 3. Electroneum price prediction 2020
- 3.1. Electroneum price prediction 2020 by John McAfee
- 3.2. Electroneum price prediction 2020 using technical analysis
- 3.3. Electroneum price prediction 2020 based on factors such as Market Trends and Technology
- 4. Electroneum price prediction 2020
- 4.1. Electroneum Price Prediction 2020 based on technical analysis
- 4.2. Electroneum price prediction 2020 based on factors such as Market Trends and Technology
- 5. So, is Electroneum a good investment option?
- 6. Or is Electroneum a bad investment option?
- 7. Final words
What is Electroneum (ETN)?
Electroneum, like other cryptocurrencies, is a digital currency built using blockchain technology. So, what is so special about it? What makes it different?
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On its website, it says that it is “The Mobile Cryptocurrency”, which has been designed for mass adoption. It aims to make it happen by making it extremely simple for smartphone users (of which there are 2.2 billion) acquire Electroneum.
Today, transacting in cryptocurrencies is a complex process which makes it difficult for non-experts to join the cryptocurrency market. Electroneum is trying to change that by making it as easy as downloading an app.
Once you download the Electroneum app, you are all set to acquire Electroneum. While most of the coins require specialized powerful equipment to mine them, Electroneum can simply be mined using the app.
The Electroneum app also has a built-in wallet to store the Electroneum coins that are mined from the user’s phone. So, Electroneum can not only be managed but also mined from a mobile app.
Apart from being very user-friendly and easy to mine, there are few other significant differences between Electroneum and Bitcoin. Let’s have a quick look at them.
- The maximum number of Bitcoins that can exist is 21 million, whereas the maximum number of Electroneum coins can be 21 billion.
- Following the footsteps of Monero coin, Electroneum also provides privacy features.
In the case of Bitcoin transactions, everyone can see who the sender and the receiver are. Also, the transactions can be traced back to the origin. But, all the transactions are completely private and untraceable in the case of Electroneum.
- Electroneum focuses more on speeding up the microtransactions, like purchasing mobile games, making payments for apps, and sending money to friends.
- As mentioned earlier, Electroneum has its own app, wallet and mobile miner. All of which Bitcoin lacks.
Now that you have a clear understanding of what Electroneum is all about, let’s get to its past performance. Knowledge of historical price trends will be helpful in making an Electroneum price prediction.
Electroneum Investment History
The Electroneum ICO, which launched on 14th September 2017, closed early because of reaching the hard cap of $40 million. Electroneum has a market capitalization of $ 0.141 billion and is branded the first ever British cryptocurrency.
While they had a very successful ICO, they faced a major hiccup soon after. Many Electroneum user accounts got hacked, which led to a sudden price drop at the beginning of November 2017. As you can see in the chart below, the Electroneum price dropped from $0.23 to $0.06.
The prices of Electroneum did revive after the issues were fixed 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 3 months.
You can see the historical price trend of Electroneum in the chart from the coinmarketcap below. Like most other cryptocurrencies, its prices have declined since January 2018 and it is currently trading at $0.0212.
Electroneum has performed rather averagely the past compared with other cryptocurrencies. In fact, there are a large number of cryptocurrencies that have paid their investors much better returns than Electroneum has. That said, it has been able to generate interest from investors because of its unique features like mobile mining.
Now that we know about the investment history of Electroneum, let’s take a look at an Electroneum price prediction or two.
Electroneum price prediction 2020
Here, we’ll see a couple of Electroneum price predictions for this year.
Electroneum price prediction 2020 by John McAfee
If you have been following the cryptocurrency market, you will already know the impact John McAfee can have on the prices. He is one of the most well-known influencers in the cryptocurrency market.
In his highly-positive tweet about Electroneum (see the picture below), he stated that he expects it to do well because of the following reasons:
- He expects it will appeal to the technical and non-technical app users because of its ease of use
- It is a privacy coin
- It has a massive following of supporters on Facebook and other communities which can aid its mainstream acceptance
His prediction may or may not turn out to be true, but it is definitely a good validation for Electroneum.
Electroneum price prediction 2020 using technical analysis
Before looking at the prediction, let me explain what is meant by the technical analysis which is a popular method used for price prediction.
Technical analysis uses historical price trends, and trading volume trends, to predict the future. This task is performed by software which applies complex mathematical functions to historical data.
Walletinvestor.com is a website that performs cryptocurrency technical analysis. According to this website, Electroneum is a high-risk one-year investment. Its Electroneum price prediction 2020 is $0.00! A bit harsh, maybe?
Electroneum price prediction 2020 based on factors such as Market Trends and Technology
Based on factors such as technology, current performance and market trends, a website called uslifed.com has made an Electroneum price prediction. According to this ETN price prediction, Electroneum will be around $0.74 in December 2020.
They are basing their Electroneum predictions on the fact that it has a huge following of supporters and is very easy to use.
Now that we have an idea about the Electroneum predictions for this year, let’s try to understand the long-term future of Electroneum.
Electroneum price prediction 2020
Considering the unregulated nature of cryptocurrencies (at present), it is quite difficult to predict their long-term future. However, I will try to share as much information with you as possible.
Following are the top Electroneum price prediction for the year 2020.
Electroneum Price Prediction 2020 based on technical analysis
Coinliker.com is a website that performs technical analysis and gives long-term price predictions. While it does not give an Electroneum prediction 2020, it does give a prediction of $2.44 for 2023. Based on this, Electroneum would seem to be on track in 2020, and a $200 investment may be worth over $23,000 by 2023.
Electroneum price prediction 2020 based on factors such as Market Trends and Technology
Similar to the Electroneum price prediction 2020, uslifed.com also provides Electroneum predictions for 2020. It predicts Electroneum prices to be around $0.812 at the beginning of 2020 and $1.10 by December 2020.
This means a growth of over 500% from today, thus making it a good long-term investment.
So, that’s the Electroneum price prediction for the year 2020, as shown by two different sources. It seems like a good investment option, but as I have said earlier, it is very difficult to predict the prices of any cryptocurrency in the long run.
In fact, it’s very difficult to predict them in the short-term also — I should make that clear. Nobody can see into the future, although we probably all wish we could.
So, is Electroneum a good investment option?
As you have seen, the predictions are divided over the future of Electroneum. It is important to consider these predictions while making decisions, but it is also important to look at the fundamentals of the coin.
Following are some of the reasons Electroneum might be a good investment.
Competent team with defined goals
One of the most important factors that decide the future of any cryptocurrency is the team behind it. Electroneum has an experienced and dedicated team running the show. CEO, Richard Ells, has experience in building successful tech businesses. The most recent one being Retortal Ltd, which is valued at over $50 million.
So far, the team has been quick in developing new features and fixing any issues. They have also kept their investors informed about their goals and how they are going to achieve them, unlike many other cryptocurrency projects.
A huge community of supporters
Because of its appeal to non-technical users, it has received massive support at the grass-root level. People are hoping that Electroneum might be the coin that will lead to the mass adoption of cryptocurrencies due to its mobile-friendliness.
There were about 765,000 ETN live users in January 2018 and they are adding more every day.
These are some of the reasons which may make Electroneum a good investment. They may be able to generate interest from investors as they appear to be moving in the right direction.
However, there are a few things which you should watch out for in the case of Electroneum. The following are some of the things which may block the growth of Electroneum.
Or is Electroneum a bad investment option?
2017 was a highly successful year for cryptocurrencies. Top cryptocurrencies like Litecoin, Monero, Ethereum gave a return in the range of 5,000% to 10,000%. That’s massive, right?
However, Electroneum has not shown similar levels of performance. Investors who look at past performance as a measure of success may not be interested in investing in Electroneum.
To succeed, Electroneum aims to tap into mobile users by providing user-friendly mobile mining. It is easier said than done, and they have been facing technical issues since March 2018 as issues have arisen.
Unless they can fix the issues, the future of Electroneum’s product looks shaky.
Listing on Exchanges
They have made some progress on this front but Electroneum is still not listed on any of the major exchanges like Binance, Bittrex, and Poloniex. For some investors, this is frustrating because they view it as a lack of credibility. For others, it provides issues regarding liquidity.
Weighing up the pros and cons of any cryptocurrency is a very important part of investment strategy.
In my opinion, you should wait to see how well their mobile miner is performing before making an investment call. Once it is clear that they are technically equipped to fix the issues, you can consult a financial advisor to plan your investment.
You now know what Electroneum is, what its USPs are, what its faults are, and how some big names in the crypto space think it’ll perform over the next few years.
If Electroneum is able to achieve its goals in a true sense, then they will be able to capture a big market of over 2.2 billion smartphone users — that’s the bottom line. So, if you like the project, you should follow it closely, along with their developments so that you can invest in it at the right time.
That’s IF you decide it’s a good investment, though, which may depend on factors such as how well they handle the current issues they’re experiencing.
Electroneum price predictions indicate that they may be a good long-term investment but there are mixed forecasts. If things go in its favor then it may touch between $1- $1.50, providing a return of more than 5000% based off the predictions we looked at.
As I have said before, cryptocurrency is highly unpredictable, and it is always a good idea to reach out to a financial consultant before investing.
So, what are you going to do? Is it worth investing in? What’s your Electroneum price prediction? I would love to hear your thoughts!