Introduction
In this post I will provide five reasons why I believe the EOS token price is about to enter a strong bull run. I have based my reasoning on facts and tried to be as objective as possible.
My background
I live in Westminster London, not the houses of parliament Big-Ben Westminster but the City-of-Westminster in SW1. I work in the Technology industry as a Business Developer and my chosen sales area is West London, mostly the area of Mayfair. The reason I chose Mayfair is because this is where most of the Private Equity and Private Banks are located. Global Banks and the High Street lenders tend to have their Head Quarters in Canary Wharf E14 and E15 postcode (the London finance sector), but the private money is in Mayfair. On a daily basis I speak to many independent Private Equity companies.
Reason one - EOS Testnet is about to launch
Dan Larimer and the Block.one team have confirmed that the EOS Testnet will be launched in a few weeks, more precisely it will be launched at the London Blockchain-Live conference held in London on the 20th September. Since the EOS ICO started the main red flag for not participating in the token distribution has been that EOS is currently vapourware and does not have a live working product. Once the Testnet is launched this can no longer be said and looking back at Dan Larimer's most recent Blockchain projects BitShares and Steemit, history has shown that he produces great software products that reach the top ten Coin market cap shortly after their release. Dan has stated many times that it took him and one other programmer just three months to code and release Steemit. Justin the co-founder of BitShares stated in a recent interview by SGTreport.com that -
“The people who say that there is no product yet, Dan has built 2 of them if they think he’s not gonna build the 3rd one, they’re crazy. This is the one he always wanted to build. The other 2 were just helping him get there.”
Reason two - London's Private Equity sector is ready.
As recent as twelve months ago Blockchain tech and Bitcoin where words that only geeks and technologists used, but Bitcoin and Altcoins are moving into the main stream, Bitcoin in particular. In the UK the Financial Times has covered stories about Bitcoin and Cryptographic currencies many times throughout the year and many investors are ready to move a portion of their portfolio into Blockchain tech. The big banks and High Street lenders are notoriously slow and restricted in how they can structure a portfolio, early investment adoption is always from Private Banks and especially Private equity firms who are much more nimble and can take a steer on how their investors want to invest their money. Private Banks and Private Equity will move into Blockchain technology first and then larger institutions will follow.
Reason three – An audience of investors
I believe this years London Blockchain-Live conference will have a substantially high turn out of Private Equity companies. For the whole of this year there has been good mainstream coverage of Blockchain tech and serious well-funded private investors have no doubt seen the potential of investing. I believe that the conference, which in the past had an audience of mainly Technology experts and Geeks, will now have a large percentage of investors looking to research and mitigate risk for their private equity clients. London is classed as one of the leading technology hubs in the world and I cannot go a day without a customer wanting to discuss Bitcoin and Altcoins.
Reason four - Block.one
There are actually two points I want to make about Block.one, the first is the amount of advertising budget they spent at Consensus 2017 conference in New York this year in May. They purchased just about every advertising space in the conference, which I was told was a figure of over £240k. I attended the London-Fintech-Week conference in July and again everywhere you looked was EOS logos and LED promotional displays. They even had sign written EOS London black cabs to transport investors to after-parties and dinners held at prestigious London venues. My point is they have the money and are willing to own the show and spend capital to promote their product. The difference now is at the London Blockchain-Live conference it won't be vapourware but an actual product with a live testnet, which they will be promoting.
Which brings me onto Block.one's CEO Brendan Blumer. This is a person who knows how to present a technology product. I watched and listened to him present a number of times at London-Fintech-Week and his pitch is flawless, and yes I call it a pitch because that's what it is. Make no mistake it is a sales pitch. Brendan has owned multiple companies in Hong-Kong all of which have been successful and he has public speaking down to a fine art. I personally run a monthly technology dinner at the Shard in London Bridge with guest speakers, so I get to see and hear many technologists speak about their services & products. Brendan is one of the most confident public speakers I have seen for a technology product. Where he really excels though is in the Q&A section. I must admit I thought this would be when he may come unstuck and the cracks would begin to appear. However he answered challenging questions head on and with relative ease, there is not a doubt in my mind that he knows the EOS product inside out but more importantly he knows and understands the competition and can articulate and confidently communicate EOS's unique selling points’ which is a key skill when speaking to hungry investors looking to jump on the Blockchain band wagon.
Reason five - EOS Price is currently in a downtrend
At the time of writing this post, the price is at £1.09 ($1.40) per token down from the recent all time high of £3.36 ($4.31) back on July 3rd. It has been in a strong bear trend for just over a week. There is also a clear downward trend line on most price-chart time frames. EOS token can be purchased on the Bitfinex exchange or the CHBTC exchange. For USA citizens you may like to read this post by Kingscrown - How to buy a VPN with SBD
Summary
- EOS will no longer be vapourware in September.
- Blockchain technology has hit mainstream news.
- London's Private Equity sector is ready to invest heavily in Blockchain technology.
- Block.one has an experienced, well-versed and well funding sales team.
- EOS is currently controlled by the Bears and is in a downtrend.
Final thoughts
I will be keeping a close eye on this downtrend and as soon as it breaks the current resistance line I will be purchasing as much EOS as I can get my hands on prior to the Testnet being launched.
