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Price Analysis

Ontology (ONT) Price Analysis: Ontology Bearish Run Starts After Leaving NEO

Ontology has currently been in the news for leaving NEO.

From the very beginning, the main partner on Ontology was the NEO project, which received 10% of total ONT emission as a support bonus. The platform solves the actual problem of combining blockchains and data exchange.

ONT is now planning to develop the project in cross-chain swaps, to help the assets in moving across the blockchains. They are busy to create a swap with Ethereum and EOS.

As the news broke, Ontology has kick-started on the bearish Trend. Let’s take a look at the chart.

Ontology

On 27th May 27, 2019, at 14:34:04 UTC, the market price of ONT 1.42 USD. The bitcoin price is down by -3.16% with 0.00016287 BTC. Currently ONT market cap is around 703,034,284 USD, 24h volume is at 107,531,487 USD and ROI is at -45.81%. In the cryptocurrency market, Ontology is currently ranked as number 22. In the last 24 hours, the highest price was 1.45USD, and the lowest was 1.32 USD.

ONT Price Comparison:

If we compare the price for last 30 days, then on 27 April 2019, ONT was dealing at 1.11 USD and now at 14:34:04 UTC, on May 27, 2019, the market price of ONT 1.42 USD.

It is very clear with the current price trend that, from the beginning of 2019, Ontology is climbing back in the market and it has been able to maintain the stable price rate even during the mid of serious partition.

Hence, whether for intraday investors, the price seems disappointing, but for long term players, ONT can bring positive results.

ONT Price Prediction:

After the devaluation of Ontology in 2018, it would have been very difficult for the coin to regain the trust of its investors. Although, since the beginning of the year 2019, this cryptocurrency has been able to stand firm on the ground and show clinking good dynamics. Its further growth might be at a slow pace, but the total pricing logic would remain the same. With the hope of all technical issues will be taken care of in the second half of the year, Ontology is expected to make even smoother growth.

The scenario for 2020 will be depending upon the success of expanding functionalities of the platform and its novelties. If the market recovers up to the hilt, $9 is not an impossible target to achieve. Otherwise, $6 could be the highest limit.

Conclusion:

The current bearish market situation if a good time to buy for investors. The price of ONT is predicted to reach around $3.50 by the end of the year 2019. This is the coin that has achieved a high price of $10 in the past. Analysts predict that based on past and current trends, ontology will slowly but steadily move towards that price in coming years. Ontology is expected to have Bull Run in the year 2019 and hence considered as a good bet for a long-run investment.

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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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