In my previous post, I wrote about a strategy that might let you get in and buy EOS at a lower price. Well, the first period is over and as expected, the EOS price went to 0.8986 USDT, which is quite high. However, the next period saw even more demand. It was the first of the 1 day periods and saw the price going to 1.7222 USDT, almost double!
EOS is also being traded on a few exchanges, like Bitfinex and Kraken. The going price is $2.40 on Kraken, and $2.35 on Bitfinex. The following chart shows its details from CoinMarketCap.com which shows the price is $2.52, having gone up from $1 a day ago.
So if EOS is selling for $2.5 on exchanges, there are arbitrage opportunities. This only means that now (or soon) the daily period price of EOS from the Ethereum contract will go up to $2.3 at least because people can buy it for less here. If you're a long term hodler, the price might be too steep. You might want to wait for a couple of periods for this profit taking to finish and the price on the exchange to come down.
I do think the price will come down, if not soon, then maybe in a few months. Or maybe when the price of ETH gets higher. The current high price of EOS might have been created by those who struck rich when ETH shot from $10 to $380 and had loads of ETH sitting in their wallets. Assuming most of them will have invested their easily earned ETH, the rest of the investors would have to buy ETH to invest in EOS. The price is bound to get less.
Or not... these are just my 2000 satoshis (or wei?), and certainly not to be taken as advise :) Wait for later, or buy now, who knows what will happen. A price difference of a few cents or a dollar won't seem like a big deal if EOS shoots to $100? Wishful thinking? Who knows ;)
