Electroneum Price Prediction 2019 – This Year Will Be Even Tougher for ETN

Electroneum (ETN), is a British cryptocurrency that was originally developed to be used in the mobile gaming and online gambling markets. They have since pivoted to add more use cases and essentially aim to be cheaper, mobile-friendlier and faster bitcoin. The name of the company and the currency is derived from “the electron which all cryptocurrencies rely on.” Electroneum is built on its own bitcoin-derived blockchain and claims to be “the world’s first common cryptocurrency.”

It aims to be a huge change of pace in the market and is designed with mobile-friendliness, fast transactions, and easy micropayments in mind. According to its website, Electroneum has the benefits of Bitcoin and other assets, but claims to be a vast leap forward over its cryptocurrency competitors. Also, Electroneum is built for widespread common usage and offers “groundbreaking ease-of-use for the ordinary mobile user,” which means that it could be a powerful investment opportunity that will almost certainly increase in value.

That all sounds good. However, there are many other cryptos that make similar claims. And a lot of them are already in the crypto graveyard because promising is easy, delivering on the promises is hard. Electroneum had a tough year behind it, price-wise it is in a gutter (just like the rest of the market) but the team appeared to produce some updates and there was some activity around the project.

Bleak year behind Electroneum

We already covered the bleak future of Electroneum in the eyes of respectable crypto analysts Nic Carter with one of them saying:

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“Like most ICOs, it’s a priori nonsense, but it did enjoy a brief moment in the sun as the development team (whose main expertise is online marketing) managed to drum up substantial hype, leading the asset to peak at a $900m market cap. In fact, one of my abiding memories of the late 2017 mania was sitting on a plane next to an earnest young fellow who informed me that his favorite cryptocurrency was Electroneum because you could mine it on your phone. Of course, this wasn’t actually mining, but rather an empty proof of time concept whereby you were allocated units of ETN just for having the app open.

It doesn’t take much to realize that ETN is hollow. It’s a generic ICOed fork of Monero with no distinguishing features by a team with no technical expertise. Some minimal development is ongoing, albeit at a very slow pace.

Notable event: The highlight of 2018 was the ETN team forcing every ICO investor into a KYC process.

‍Verdict: Electroneum is in a purgatory where it’s obviously a failed project but still piddling along until the SEC makes their way down the list and makes the team give all the money back.”

Beta iOS app ready after numerous missed deadlines

Electroneum had a great promise of being a easy to use especially on mobile devices. It has yet to live up to it promises with native wallets.

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Over a year waiting for the wallet to be released with an iOS native app that saw a light of a day only a week ago and that as a beta version. They have missed multiple deadlines and as a result the currency dropped of the cliff in terms of interest in it.

With this new app, you can do “cloud mining”, while having to reactivate your app every 7 days. All it takes is a selfie to prevent bot activity. It doesnt cost any money, nor data or power. Its not really like mining to be honest. You cannot withdraw ETN until you’ve mined 100 tokens.


Reduced rewards for “mining”

ETN is a proof-of-work crypto currency based on the CryptoNight hash algorithm. It was forked from Monero and aims for mass adoption as an “enablement currency” through mobile applications and instant payment technology, particularly in the developing world.

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Typically, cryptocurrencies are mined with specialist equipment. However, Electroneum allows users to “mine” the currency with the mobile app, which should lead to increased adoption and use of ETN. The app allows your phone’s CPU to engage in simulated mining, which won’t overheat your phone or drain your battery. The mobile mining won’t actually help confirm new blocks on the blockchain – it’s more clever marketing by Electroneum to promote interaction with Electroneum and get people involved. Even though you’re not really mining but rather a simulation with a proof of elapsed time, you’ll still receive rewards. One more thing worth noting is that the mining will also use a negligible amount of your internet data.

Announcement made by Electroneum that they will be raising the payout threshold from 10 ETN to 100 ETN was met with disappointment and discontent of their community.

ETN Price Prediction 2019

ETN, as the rest of the market, is tightly coupled and dependent on bitcoin’s price action. If bitcoin embarks on another bull run, ETN can hope for one as well. Since that is very unlikely, don’t expect much to change for ETN price-wise in this year. So 2019 will be a year of boring sideways action with minor bitcoin ignited jumps and slumps.

In general:

The main currency in cryptocurrency markets is Bitcoin and given this, altcoins tend to fuel Bitcoin runs and Bitcoin tends to do the same in return. Given this relationship, Bitcoin price movements (or lack thereof) tend to effect altcoin prices.

When Bitcoin goes up swiftly, it will likely:

  1. Suppress or depress altcoins as money flows into Bitcoin;
  2. Or, take altcoins along for the ride

In cases when Bitcoin plunges, it will likely:

  1. Depress altcoins as money flows into fiat;
  2. Or, cause altcoins  to boom as money flows into them, but this is rarely the case.

When Bitcoin moves sideways, it will likely:

  1. Cause altcoins to mimic that as traders wait for a clear sign on the direction of the market;
  2. Or, cause altcoins to flourish as traders look for returns in altcoins and try to get favorable trades in terms of BTC pairs.
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To summarize, Bitcoin is the focal point of the crypto market in many ways, and with BTC trading pairs on every exchange, the gravity of Bitcoin is hard to evade.

The majority of projects will fail — some startups are created just to gather funds and disappear, some would not handle the competition, but most are just ideas that look good on paper, but in reality, are useless for the market. 

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Vitalik Buterin, co-founder of Ethereum said:

“There are some good ideas, there are a lot of very bad ideas, and there are a lot of very, very bad ideas, and quite a few scams as well”

As a result, over 95% of successful ICOs and cryptocurrency projects will fail and their investors will lose money. The other 5% of projects will become the new Apple, Google or Alibaba in the cryptoindustry. Will ETN be among those 5%? Hard to tell but probability for that is pretty low.

All of this summed up means one thing: ETN might live through couple of orchestrated and, for a regular trader, completely unpredictable pumps but the majority of time will be murky sideways trading with tiny volume and no real interest from the market. Price will heavily depend on what BTC will do and since many analysts think BTC will not be making big moves in this year, it is hard to expect ETN will do them either. The price will probably leak slowly, drip by drip to even lower levels than this current one as the founders and big whales liquidate their bags.

All in all, not a good forecast for ETN price in 2019.

Enthusiasm is waning

If we are honest, ETN stands a minuscule chance of reaching a massive adoption and without it, this coin has no point and looks more like a marketing ingenuity of its founders than a revolutionary tech.

The amount of social media shilling of ETN is slipping, obscure Twitter and Reddit users who used to defend it to death are suddenly inactive. Excessive social media presence of a project with similar pattern of behaviour among allegedly different users is a good indicator that it is all engineered and orchestrated by someone. These accounts usually put out vague and hyperbolic statements, spewing out “facts” that no one can verify and vitriolically attack anyone who dares to criticize the so wonderful project that “they are not affiliated with in any way”. They are just white knights fighting for world justice.

For more detailed critique of their whitepaper, technicals and initial stages of their development – check this article out.

Conclusion

I am not saying ETN is a scam but their bar is set so high that even much bigger companies and more competent engineers would have trouble to reach it. Don’t get to excited by the cool concepts you hear from the team, the more big words you hear from a project, the more skeptical you should be. Everybody is “revolutionizing” something in crypto space, but in most cases, only their pockets get to see a revolution.


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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com

25 Comments
  1. Again a very bad article. This is all a opinion and not facts!! The ETN team is doing fantastic job. You give sh*t information.

  2. Do some research before you write your bullsh*t.

  3. It will be a very interesting year for ETN. They’ve said they have something coming on the 25th of this month which changes everything. Let’s see if it’s real “on the ground” use of crypto as they’ve promised or more hype like we see from all altcoins.
    I hope these guys can deliver as they are one of the few projects that appears to be trying to help people and make the world a better place rather than just ripping off the ico cash.
    Time will tell!
    Roger.

  4. Such an Uninformed and Toxic post…!!

  5. I’ve sh*t better. Crapcoin alt stain, your going to eat your own words.

  6. Hmmmm…You paint A very bleak summary for ETN.

  7. don’t agree with any of this article

  8. Jesus you are so negatively depressive. You completely ignore what ETN is trying to do. If it fails or succeeds, they are trying to financially equalise the world’s less fortunate and unbanked. For that concept they need unilateral support by all, you, me, everyone. Remove your head from your anus and give a grudgingly nod of approval and hope that cryptocurrency no matter in what form brings a better life for all those than need it most. If etn fails fine. They do so with integrity.

  9. Oh Captain Altcoin…Your articles are getting less harsh little by little. I see you writing about ETN later on praising their successes. You spoke of promising and delivering. Its harder to deliver yet that’s all the team does. Yes, sometimes delayed but not comstantinople late. Lol. All I haveto say is “Orange juice and chill.” 😉

  10. Your conclusion was dumb as f*ck. Although it may not be a scam! Now you just sound like a damn hater. Bigger the party the bigger the scam, look at Tron look at binance big party big big party. Electroneum keeps in contact with their community Through social media like YouTube and Twitter and Telegram Etc. You make electroneum sound good in my view.

  11. So much bad information in the first paragraph, that I couldn’t make it beyond that point. There’s no point in listening to financial advice from someone who can’t do proper research.

  12. Reply
    CAPTAINALTCOINOVERLORD February 16, 2019 at 11:32 am

    Considering there is little fact in this article it seems obvious that you just a very simple person who is salty because you are probably affiliated with some other coin like XRP. Who in actual fact ETN will DOMINATE!

  13. What? Do you even follow ETN, at all? This article is nothing but pure FUD with no basis on fact. Absolute garbage article. Time to put this publication in the fake news category and block.

  14. Bravo to this writer. For he REALLY knows How to make an ASSHAT of himself Haaaaa!

  15. It’s ok to be sceptical. Projects as ambitious as ETN defy the norm but there is no doubt of their monumental achievements in just one year is truly remarkable. I have no doubt this project will change the world looks at digital asserts and hopefully empower the impoverished at the same time. Time to wake up and join the movement captain alt coin, we all make mistakes in judgement. The community is strong, the community is huge (3 million in a few days) the community is united. All will be revealed at the worlds biggest mobile exhibition in a couple of weeks time. I cant wait!

  16. Hi there if using electronium app pls use my referal code 2DC769 that way i get more mining power and so do you. I mine 24/7 so no breaks! WW in my book 🙂

  17. *YAWN* More drivelling tosh crafted by the inept writers of Captain Altcoin journalism requires usage of supporting facts and objectivity based on said facts. In summary pure FUD of the highest caliber under the category of fake news.

  18. I could say learn to use evidence and facts with a splash of objectivity before giving yourself the right to trash a legitimate project 😉

    • Legitimate project is a stretch when it comes to Electroneum. You have to ignore your emotions and apply rational thinking when looking at it. Except you are a paid bot, in that case – you did your job.

  19. The project holds a glimmer of promise to transcend the mere speculation that takes place for a large number of digital assets out there. The aim is to find a real world niche in an ever evolving and fiercely competitive digital marketing place bringing affordable, instant micro transactions to the masses if it succeeds even partially in this the value will be achieved eventually. As an experienced investor I dip a toe in the pond (never wade in further than comfort allows) I don’t require incentives to recognise a good opportunity to get on at the ground floor (so to speak). I’m not the the one being paid here that my good sir is you, might I add for FUD and fake news does it pay you well…? 😉

  20. What a waste of my time, i wont be reading any nonsense from ‘captainaltcoin.com’ again

  21. Arrgh… bitter and salty… Arrgh… matey Arrgh… raise the jolly rodger Arrgh… legitimate project prepare for a broadside Arrgh… Craptainsaltgroin’s work here is done! Arrgh… matey Arrgh…

  22. Your thoughts on recent developments? They can use cloud mined ETN to pay for data in South Africa and the $80 budget phone.

    That’s real world use

  23. Not what I would normally do 🙂 but… So much good stuff happening right now for Electroneum so many positive signs for the future from a legitimate project with real world usage $80 ETN smart phone, live in South Africa ETN as payment for airtime and data, Huobi exchange listing now illustrates the clear intent and direction of yes let’s repeat it one more time “a real world legitimate project” whisper of more partnerships on the way *awesome* but unfortunately this article smacks of biased poorly researched amateur attempt at journalism. Embarrassed you should as this article and it’s intent has truly backfired questioning your credibility *couldn’t resist sorry* but this article truly deserves to be highlighted for what it is (or isn’t as the case maybe…)

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