What is Electroneum?
Electroneum (ETN) is a mobile-based cryptocurrency that aims at enabling digital payments for everyone.
The team behind Electroneum wants to unlock the more than 1.7 billion unbanked individuals in the world by offering a digital payments ecosystem.
Electroneum wants to also offer services to individuals that do not have access to the financial industry or to financial services.
Specifically, Electroneum is working in emerging markets including Turkey, Brazil and different countries in Africa where there is a lack of financial solutions and where the market is leaving many individuals outside the whole system.
ETN is currently powering Electroneum’s mobile-based payments solution, which became the world’s fastest and first KYC/AML compliant cryptocurrency in the market.
Furthermore, ETN can also be used as a store of value that can be employed to purchase daily objects, pay for services in different regions and help individuals make transactions among friends and family.
According to Electroneum, ETN usage and acceptance are growing every single day. As they mentioned, their user base grew faster in the last year than Facebook and Twitter.
One of the main reasons behind this increase in the usage of Electroneum and the ETN cryptocurrency is related to the revolutionary business model implemented by the team.
They are currently offering users the possibility to earn up to $3 USD worth of ETN each month, which is very helpful for people that live with a salary that is very low compared to other nations.
At the same time, partners can easily earn ETN rewards through the current referral programme that they have established. In this way, many users will have a new source of income that could help them have a better life.
Electroneum Price Prediction 2020
The cryptocurrency market is full of surprises and unexpected events that could change the fate of a specific cryptocurrency.
ETN experienced a hard bear market in 2018 that continued in 2019. In 2019, ETN fell by over 50% since January, which shows it didn’t follow the trend of other altcoins and Bitcoin (BTC).
Bearish Case For Electroneum Price Predicition
The bearish case would be a continuation of the current trend in case the whole cryptocurrency market continues to behave with sideways action.
ETN adoption alone would not be the main driver for its price to grow. This can be seen in 2018 and 2019. While 2018 was affected by a bear market in the cryptocurrency space, 2019 was the year of the recovery. Despite having a larger number of users and growing faster than Twitter and Facebook, ETN price kept falling.
If this trend continues, we would expect new lows for ETN in the near future. This is the bearish case for the Electroneum price prediction.
Bullish Case For Electroneum Price Prediction
Things can change if the market turns bullish. The bullish case would be backed by an entire crypto space growing with altcoins experiencing a new alt-season. This would definitely be very bullish not only for ETN but also for other digital assets.
Investors would be ready to place their funds not only in Bitcoin and the top 10 cryptocurrencies but also in other digital assets with a large potential to grow in the future.
Electroneum, with an expansion plan that allowed it to grow faster than other large companies in the world, would have the possibility to onboard new users and expand its ecosystem. This would have a clear positive effect on ETN and its price.
Moreover, the expansion that the Electroneum ecosystem experienced in the last few years would be a massive factor for the cryptocurrency to continue growing. By having a larger user base, the ETN digital asset would have a higher demand and a larger network where to use it.
Although it is unlikely for this virtual currency to surpass its all-time high of over $0.18 in early 2018, a new bull market could start and help the digital asset reach new multi-year highs. Nevertheless, we couldn’t discard the possibility of a sudden spike driven by demand in the cryptocurrency market, something similar to what happened in the past.
If this speculative demand added to the aforementioned points allow ETN to grow and expand, we may see new all-time highs. However, this prediction is highly unlikely to happen, at least in the near future.
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