Enjin Coin is a token on the Ethereum Blockchain. Think of it as a digital coin that you can use across many different websites and online games. It can even be converted into other kinds of digital property like game items or in-game gold.
Enjin Coin platform is made for the game industry. SDKs for multiple languages, wallets and payment platforms will be available and completely open-source. Online gamers can bring or trade their assets from game to game, community to community, growing their digital wallet with real value as they play.
General Market Movements and Sentiment Shift
The downfall of altcoins that were mainstream media darlings at the start of the year, ENJ among them, can be attributed, in part, to novice investors getting scared off once the bear market kicked in with a vengeance. Every resurgence of bitcoin in recent period, was met with the, for the most part, inability of altcoins to rally with it. Reason for that can be rookie investors learning from their mistakes, while smart money that was previously watching from the sidelines has begun to enter into bitcoin.
These entities weren’t about to buy BTC when it was trading at an all-time high, but they’ll take a look now, having missed the boat the first time around. None of them, it seems, are interested in altcoins however, despite the fact that many are trading at a 5x discount. Institutional investors may be cautious, but they’re not foolish.
Some altcoins will continue to have some speculative value for the foreseeable future. But just like the now infamous tulips, the hysteria will eventually subside. We are already witnessing the first phases of that slide and even though most of the bag holders react emotionally to articles that criticize their coins, I am just observing the developments on the market. You better start emotionally detaching yourself from your “great sounding” coin because if goes nowhere, ideas are worthless without execution and real users that see value in the project.
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Our Enjin Coin Price Prediction 2021
ENJ, as the rest of the market, is tied at the hip of bitcoin’s price action. If bitcoin embarks on another bull run, ENJ can hope for one as well. Bitcoin usually has a cool-off phase after its mega bull runs and that is when the altcoins take over and have a field day with the bulls, often doubling or tripling their price within days.
With the pandemic breakout, the world was sent into hybernation for couple of months and it reflected negatively on the cryptocurrencies, sending bitcoin downhill as we witnessed even 40% daily losses. However, situation quickly stabilized and bitcoin as the flagbearer took the crypto market back up. We are in a major bull run since the summer and, if we are listening to the analytics from social media and journalistic desks, we are far away from its local zenith.
What this means for Enjin price in 2021?
As long as bitcoin is in the main role and pulling upwards, there is little room for ENJ to shine. It will, however, increase its USD denominated value thanks to the overall rise in crypto prices. Nevertheless, ENJ to BTC ratio will probably slump, possibly to all-time lows. This means that it is best to keep your funds in bitcoin until it reaches its provisional peak, opening the doors for the altcoins to enter the scene. Enjin will be among the top candidates to record big gains, as the money usually flows from bitcoin profits to bluechip altcoins and big cap coins before trickling down to the less known and smaller projects.
Read also: Best Crypto Hardware Wallets
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.
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”
Enjin Future Outlook
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 ENJ be among those 5%?
Hard to guesstimate this one. But we lay out our thought process on Enjin coin future in the following rows of this article.
Why will Enjin succeed?
Why will Enjin fail?
Will Enjin reach $1?
All of this summed up means one thing: ENJ 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 small volume and no significant 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 Enjin will do them either. The price will probably stagnate and record slow-moving depreciation or appreciation depending on the team activity, potential technological breakthrough or high-level partnership.
Market prediction for Enjin – ENJ Coin Prediction 2020
With the market being completely unpredictable, forecasting the cryptocurrency price is really more of a gamble and luck rather than a data driven guesstimate.
Let’s throw a glance at the eminent publications and personalities, and their predictions regarding the ENJ price, which will give us another point of view to consider:
Walletinvestor is a popular website that does technical analysis-based price predictions of various cryptocurrencies. According to them, ENJ is expected to drop extremely to $0.081 per token in one year which would see it losing all of its Samsung S10 caused gains.
Trading beasts expects that Enjin will float around $0.17 within a year but also predicts it can roughly reach $1 by 2020.
Cryptoground predicts that Enjin might stay around $0.22 by the end of 2020. They even added their version of ENJ price prediction 2024, where they stated that ENJ might reach $0.55 by 2024.
Digitalcoinprice gave a slightly positive prediction saying that by 2020 end, ENJ might be two times more worth than now – $0.44 per coin.
ENJ Future: 2025, 2030
Enjin Coin Price Prediction 2025
ENJ Price Prediction 2025
Enjin Coin Price Prediction 2030
ENJ Price Prediction 2030
Realistic ENJ Price Prediction
Realistic Enjin Price Prediction
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