The top 20 cryptocurrencies not only include Bitcoin and Ethereum but also a number of other coins. OmiseGo, OMG for short, is an altcoin based on a great concept.
Back in 2013, the team behind OMG had already been thinking about how the currency would be created. OmiseGo has been on the market since 2017 and the price has risen sharply since then. This is not a coin that can be mined, as is the case with bitcoin and many other cryptos.
OmiseGo currently has a market capitalization of about 900 million US dollars, making it one of the top 20 international crypto charts in any case. It should be noted that the currency’s market share is around 0.3%. Numerous cryptos listed in the top 20 have a market share of 1% or even less. Among the top 3 crypto currencies are Bitcon with over 50% market share as well as Ethereum and Bitcoin Gold. These three alone account for a combined market share of just over 75%.
- Start of trading 2017
- Units 102 million units
- No Mining
- Market capitalization:
The value of OMG has risen sharply in recent months. It should be noted that here, as with many other cryptocurrencies, there have of course also been some setbacks. Looking at the share price performance of the past months, it will soon become clear that this coin was able to gain massively in value again in December 2017 and that the forecast for the year 2018 can be made quite optimistically.
How Has OmiseGo’s Share Price Developed Until 2018?
At the start of trading in July 2017, the price of the crypto currency OmiseGo was quoted at less than EUR 0.50. However, it took only a few days until the price rose significantly for the first time and reached a value of 1 euro per coin. This was already the case in July 2017. Compared to many other crypto currencies, OmiseGo had no rocket launch and no candle formation. The price managed to rise to 1 Euro per unit after a few days and only rose further at the start in August 2017.
Price Rise In The Cryptocurrency OmiseGo
The value of the cryptocurrency OmiseGo rose significantly at the start of August 2017. The price made it in the first days of the month directly to a value of 2 to 2.50 euros per coin. This means that the share price more than doubled in some cases compared with July. In the middle of August 2017, things went even better for the crypto currency OmiseGo. The price was now quoted at more than 5 euros and in the following days even managed to surpass the 6 euro mark.
OMG Share Price Very Volatile
Towards the end of August 2017, many investors were aware that this was a small price rally. The price at the end of August 2017 was around 10 euros per coin OmiseGo and many investors were now apparently thinking of making and taking profits. In the days that followed, the price of the cryptocurrency OmiseGo rose again and again, and shortly thereafter it fell sharply. Price jumps from 7.50 euros to 10 euros and back were not uncommon.
Traders were also able to determine the volatility of the OMG price in the first days of September 2017. Here, too, the price often jumped up and down by several euros. In September, the share price fell slightly overall, falling from around EUR 8 to 9 to around EUR 7.50 per coin OMG.
October also showed that things cannot only go uphill and so the value of the crypto currency fell to 5 euros in October. However, the share price rose significantly in November and December ’17.
- price already rose in July 2017 shortly after the start of trading and more than 100
- Price rally in August 2017 to 10 Euro per coin
- Highly volatile share prices in September 2017
- Price slump in October 2017 down to 5 euros per coin
- November and December 2017 show positive development
Forecast 2019 – How Could The Cryptocurrency OMG Develop?
It is currently very difficult to make a forecast for the end of 2018 based on technical analysis of OMG’s past price action. The fact is that OmiseGo and many other coins are currently very volatile. Trade is characterized by emotion and uncertainty. Many cryptos that do not belong to the top 3 pay attention to the price development of the crypto currency Bitcoin. If the price of the currency bitcoin should rise, it is often the case that the prices of the other cryptos also rise significantly.
All in all, if the overall market develops positively, it is quite possible that the crypto currency OMG 2018 will again break the 10 euro barrier and may even rise beyond it. Should the Bitcoin continue towards the 15,000 Euro mark and even beyond, it is quite conceivable that OmiseGo will also continue to gain in value.
What Are The Risks For OmiseGo?
As with many other currencies, the risk of a crash with cryptocurrencies exists at all times. However, it should be noted that OmiseGo is definitely one of the top 20 cryptocurrencies that have developed positively in recent months.
Attacks by hackers on trading platforms, negative news or profit taking as well as a great lack of interest in the crypto currencies are among the usual risks that can occur with OmiseGo, but also with many other currencies of this kind. Who trades with coins, should keep this in mind in any case, because currently the whole crypto market is very volatile.