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What Factors Influence Electroneum Price?


With the cryptocurrency market being on the rise for the past three years, more and more investors are considering going for digital assets instead of traditional ones. While the majority usually think of such flagships as Bitcoins, there are many other cryptocurrencies to choose from. In this article, we will elaborate on Electroneum (ETN) and its price forecasts. We will cover the basics of this crypto and share major ETN price predictions for 2021-2015 and 2030.

About Electroneum (ETC)

Electroneum is the first British-based cryptocurrency with its own blockchain. Its ICO (Initial Coin Offering) dates back to fall 2017 when it attracted about $40 million. By the way, ETN ICO is considered to be unbeaten in terms of the number of participants up to this day. The campaign was very successful at that time, and, pretty soon, the crypto entered all the major cryptocurrency exchanges.

The coin was created by Richard Ellis, who believed in the success of the blockchain back in 2015 when Bitcoin’s valuation was at about $500. At the time, he was investing in GPU mining rigs. Later, he created his own cryptocurrency - ETN - that stands out from the crowd even based on today’s standards.

The ultimate distinctive feature is that it can be mined even with a smartphone. That’s what Ellis wanted: to provide the world with user-friendly crypto that is easy to manage. Electroneum can be mined, sent, and stored via a regular app that has been downloaded more than 2,7 million times so far.

This makes ETN ideal for microtransactions and daily shopping. Basically, it’s a pocket-sized crypto bank that can be used, even in remote areas, globally. At the same time, ETN investors have much more financial freedom since new coins can be mined easily – with only a few clicks on a mobile device.

Another Electroneum feature is reliability. No cryptocurrency has established a partnership with mobile operators for reliability’s sake before. Some attributes here enhanced anonymity, as well: the transactions can’t be traced back to the origin.

What Factors Influence Electroneum Price?

Electroneum price predictions aren’t based on mere allegations. There are numerous reasons taken into account before a forecast is made. The most important factors that shape the value of the cryptocurrency are.

Although these factors are hard-to-consider in Electroneum price prediction, since the collapses usually happen unexpectedly, lack of proper security and maintenance are threatening factors. 

Of course, this list of influential aspects isn’t complete. ETC, like any other coin, is affected by the economic situation, the general state of the crypto industry, rules and regulations, and even Bitcoin.

How Did Electroneum Price Fluctuate in the Past?

Electroneum started pretty well: its ICO was a landmark event that attracted a lot of attention. However, the success didn’t last long: the mobile-friendly cryptocurrency experienced a significant price drop soon after the launch. At the beginning of November 2017, the ETN price decreased down to $0.09, while before, it almost managed to reach $0.18. The collapse happened literally in a few hours; however, it didn’t stop, and the value declined even further in the coming days – down to $0.03.

The sudden fall has been attributed to a hacking attack. Several user’s accounts were under cyber-attack. Yet, that wasn’t the end for the crypto with a memorable start. About a month after, it was relaunched, together with an enhanced security system. That was the moment when Electroneum announced its partnership with mobile operators, which was a one-of-a-kind event in the industry.

This was probably among the top factors that facilitated the ETN resurrection. At the beginning of 2018, the price was restored at the same level as in November 2017. What is more, it even managed to exceed it and reached $0.19 on January 7, 2018. This can be seen on the graph below.

Yet, it was a momentum that was followed by another drop. As you can see, spikes became normal in Q1 2018. The maximum drop reached $0.04 at the beginning of February. After that, there was no hope for a possible return to the maximum price. However, we can’t put all the blame on Electroneum alone. 2018 wasn’t a particularly successful year for many cryptocurrencies, in which prices were declining, as well.

Nevertheless, Ellis didn’t lose hope. He did his best to expand the ETN community that exceeded two million crypto users within one year. Furthermore, he tried to introduce a lot of new features. For example, a cryptocurrency-based subscription billing patent filing took place in 2018. It also included instant payments.

Although such proactive measures might have contributed to a positive ETN future price prediction, this was hardly the case since the value fell from $0.007 at the beginning of January 2019 to $0.003 as of the end of December 2019.

Has the Situation Changed, and Where Is ETN Now?

2020 seemed to be a rather devastating year at the very beginning: the prices remained the same and even started to decrease gradually in February and March. The minimum was $0.0017. The credit hardly goes to the pandemic and world financial crises alone. The cryptocurrency had adopted a negative trend long before. One of the possible reasons is inconsistency in the user base; therefore, the prices drop. Other investors merely don’t consider Electroneum as a lucrative investment because there are not many people who will shape a decent demand.

However, the situation changed within a couple of days in May: the price rose up to $0.09 in May 2020 and then fell down to $0.06.

After that, the ETN admirers tried to boost the price again, yet it kept fluctuating. At the same time, Electroneum was expanding: with the help of Cryptwerk, the cryptocurrency was introduced to online shops, later it was listed on India’s fast-growing crypto exchange CoinDCX, and then began working on further blockchain development.

Even joining Blockchain for Europe in late 2020 didn’t result in a price surge. However, there was a current spike at the beginning of January 2021: the value reached $0.008. This was probably driven by Electroneum’s US AnyTask TV ad campaign (AnyTask is Electroneum’s crypto-powered freelance marketplace).

However, soon after, the fluctuations were back in motion. As of January 20, 2021, the Electroneum price is $0.005, and the market capitalization is $58,1 million, seeing a slight decrease, according to the Coinmarketcap.

The coin has definitely failed to live up to the ETN future price prediction by uslifed.com. According to one forecast, it was supposed to exceed $1 as of December 2020. The website anticipated a positive trend and a significant monthly growth back at the beginning of 2018 when the crypto recovered.

Short-Term Electroneum (ETN) Price Prediction for 2021

The future of Electroneum is unstable. Many investors were sure that ETN would thrive as soon as it managed to evolve. This was highly supported by John McAfee, who said a lot about the coin on his Twitter page. Here are the main takeaways:

  1. The coin boasts a strong community that advocates for this user-friendly, mobile-oriented cryptocurrency. Newcomers can always seek advice and receive it.
  2. The crypto has the potential of gathering both technical and non-technical users.
  3. ETN was more popular than even Monero (that was one-of-a-kind at the time).
  4. The crypto features privacy.

Based on these factors, McAfee concluded that $0.08 is a low price for the coin. Obviously, he wasn’t the only one who believed in it in 2018. Coinlinker, for example, projected that in 2021, the price would reach as high as $1.23.

However, at the moment, many people think differently. For example, the platform that performs technical analysis walletinvestor.com is sure that the price will drop, not rise. According to the source, the value may decline down to $0.00268. In the worst-case scenario, the crypto might even crash.

As for the hopes to reach $1, the platform analytics are sure – nothing like this is going to happen within the coming year. Even though some slight increases are possible in the coming days, the Electroneum price prediction in 2021 is rather pitiful, according to the technical analysis.

However, not everyone is so adamant. Look at captainaltcoin.com – a site about cryptocurrencies. According to the forecast, ETN might experience an increase in its USD value because of the booming market. However, Bitcoin is likely to grab all of the attention; therefore, the ETN/BTC ratio may reach all-time lows. TradingBeasts posted another ETC price prediction, which looks rather promising.

What Will Happen with Electroneum in 2022?

As for the 2022 Electroneum price predictions, there are two possible scenarios.

Holding Positions

According to TradingBeasts.com, the coin is likely to hold its positions approximately at the same level. ­Although there may be a slight decrease down to a minimum of $0.0053351 in August 2022, the situation is likely to improve by the end of the year. The cryptocurrency will close 2022 at an average of $0.0066794, with the minimum price - $0.0056775 and maximum price - $0.0083493. In general, ETN is likely to finish the year a bit worse compared to its beginning.

A Surging Trend

The booming crypto market and success of Richard Ellis’s initiatives may result in a gradual value increase. Digitalcoinprince.com published an ETN future price prediction for 2022. It states that the coin will enter 2022 with a value equal to $0.00948808 and will finish it reaching $0.01048104. The maximum price is expected to delight us in May. You can see this in the table below:

Month

Predicted price

January 2022

$0.00948808

February 2022

$0.00973077

March 2022

$0.00958410

April 2022

$0.00962257

May 2022

$0.01102000

June 2022

$0.00859970

July 2022

$0.00968035

August 2022

$0.00875190

September 2022

$0.01113078

October 2022

$0.00862616

November 2022

$0.01095722

December 2022

$0.01048104

This is a significant increase from the current state. Considering that the price revolves around $0.005, it’s going to double, according to the forecast. 

Long-Term Electroneum Price Forecast (2023-2025)

Once again, the fate of the coin is highly unpredictable in the long-term. On the one hand, it can follow a positive scenario, keep prospering if the freelance-based platform prospers as a result of the rise of remote work. Add here a booming crypto market, and some may think that Electroneum has a chance to thrive and enter the list of top cryptocurrencies after Bitcoin.

On the other hand, the fluctuations where sudden spikes spice up regular minor ups and down are also possible. However, there is an opinion that these fluctuations may lead to a complete collapse in the five-year timeframe. Let’s get a closer look at Electroneum price predictions for 2023-2025.

However, not everyone is so positive. The platform captainaltcoin.com, for example, believes that in 2025 there will be no Electroneum. It is explained by the fact that the coin has failed to gain popularity and isn’t likely to change this anytime soon.

What Does Electroneum Price Prediction Say About 2030?

Although there is a possibility that Electroneum will completely disappear by 2030, the situation might be different. For example, CoinSwitch – a cryptocurrency exchange aggregator platform – believes that the price may equal $0.25. It will be the all-time maximum.

The analyst motivates such an increase due to:

How to Carry Out a Technical Analysis of Electroneum (ETC)

Since Electroneum hasn’t managed to become popular yet, you may not find a ready technical analysis on the web, at least for free. That’s why understanding the basics is vital if you are seriously considering trading this cryptocurrency.

To carry out the technical analysis, you need to find ETC historical data. After that, you need to identify:

After this, you need to choose an analytical tool which will help you read the results. There are many of them. The most popular among crypto investors are MACD, OHLC Charts, and Bollinger Bands.

What Do Experts Say About Electroneum?

Expert opinions, as well as Electroneum price predictions, significantly differ. This can be attributed to the fact that this cryptocurrency is highly volatile.

So, here is what experts think about it:

Electroneum: To Trade or To Invest?

As you can see, Electroneum price predictions vary a lot. Some believe that it will prosper and finally get closer or even exceed the milestone of $1. Others, on the contrary, highlight the highly-risky nature of ETN, and based on that, predict the further decline or collapse of this cryptocurrency.

On the one hand, it still makes sense to diversify your crypto portfolio with Electroneum (ETN): long-term playing with any cryptocurrency is potentially lucrative as the industry is currently on the rise. You can always account that all the crypto will increase in price as a chain reaction to the boom in the market.

On the other hand, heavy investments in digital assets like ETN imply a lot of risks. There is always a possibility that in case of a sharp decline in prices, exchanges will close traders’ positions. That’s why it’s better to minimize the risks.

One of the successful measures is trading Electroneum when using CFD (Contracts for Difference). Under the contract, the buyer and seller agree to pay, in cash, the difference in prices as the value of the cryptocurrency changes rather than buying the underlying asset itself. You can try CFD in practice and eliminate the risks by opening a demo account on Libertex.

Investing in Electroneum is even more dangerous than trading it at the moment. Many analysts highlight that due to the low demand, crypto investors avoid this currency. That’s why it’s hardly the best asset to put money in, at least for now.

Why to trade with Libertex?

FAQ

What Will Electroneum Be Worth in 2021?

According to various ETN price predictions, the coin may reach $0.007 in 2021. However, some analysts are sure that it will surge, and the value will exceed $1.23. Nonetheless, the majority highlight that the crypto will take much longer to surpass the benchmark of $1.

Is Electroneum Worth Buying?

At the moment, ETN is experiencing a decrease after a sudden spike. However, the price is still above average as of the previous year. Considering the company's activity in terms of the crypto-based freelance marketplace, the token has a chance to prosper. However, it’s still better to buy it without risk, using CFD.

Does Electroneum Have a Future?

If the cryptocurrency will keep prospering and the crypto-based freelance marketplace AnyTask will succeed, ETC has chances to prosper. In fact, many analysts provide positive Electroneum price predictions with a gradual increase.

What Will Electroneum Be Worth in 2030?

According to some Electroneum price predictions, the coin value may reach $0.25 by 2030. However, there are opinions that it will completely disappear over time.

Does Electroneum Hit $1?

No, Electroneum isn’t likely to hit $1 in the near future, according to the majority of analysts. However, it can reach this milestone within a certain time period.

Why Is Electroneum Going Down?

ETN is decreasing as there is no significant demand. Possibly, this is driven by the fact that it’s popular among citizens of countries with poor economies. Therefore, their purchasing power is low. Other investors, however, aren’t interested because of the lack of demand.

#source

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