Price Analysis

OmiseGo Price Analysis: OMG Coin Bearish in Short Term; There is a Sense of Overestimation, Focus on Basics is Required

  • OmiseGO is endorsed by the Thai Ministry of Finance and Bank of Thailand.
  • Companies like McDonalds and Alipay accept payments in OMG.

OmiseGO (OMG) is more of an open-source fintech digital wallet, based on Ethereum chain. It enables any users with features like real-time transactions, peer-to-peer value exchange, and payment services. In addition to that, the main aim of OmiseGO is to simplify the finance management and payment procedures by eliminating the requirement of a bank account.

OMG Price Current Statistics:

OmiseGO price chart - june 3

  • On June 03, at UTC 10:42, OMG price was trading around 2.2216 USD.
  • Having a Return-On-Investment of 320.21%, the current market capitalization of OmiseGo is 315,131,877 USD.
  • On top of that, the total number of OmiseGO price in circulation were 140,245,398 OMG.
  • OMG Vs. Bitcoin was valued around 0.00026367 BTC per chip.
  • Additionally, the 24-hour volume of trading in the OMG coin was 128,452,432 USD.

OMG Coin Comparison:

On May 09, 25-days back, OmiseGo (OMG) was trading around 1.6138 USD. Since then, the value of the coin has gone up by almost 37.66%. In the last 30-days, as you can see in the chart, most of the movement in the altcoin was in the red zone. From the 3rd week of April onwards and till the 2nd week of May, OmiseGO was dragging in the bearish zone. Although the overall ROI was positive, it was a marginal sum of $0.7287. Nevertheless, henceforth the 2nd week of May, there is an upsurge in the chart, and the coin is doing great at present.

OmiseGO Price Prediction:

Just like other altcoins, OmiseGo (OMG) is trading today with a decline of almost 5%. With that said, it is speculated that coin will perform well in the long term. As per our speculation, OmiseGO (OMG) might trade around 5 USD by the end of the year.

Conclusion:

As a precautionary measure, avoid trading in the short term. However, this is not the preface of an upcoming bearish trend and don’t be dis-hearted. The Long and medium term holdings are still bullish.

 

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Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.
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