OmiseGo is a payment platform on the Ethereum blockchain that offers trades, payments, and various other types of transactions. These transactions can be made using both fiat and cryptocurrencies.
The three main features included in OmiseGo’s open source technology are a digital wallet Software Development Kit (SDK), a decentralized exchange, and a network that will be built to scale infinitely using Plasma architecture.
OmiseGo also has some big named advisors on board such as Ethereum’s Vitalik Buterin and Lightning Network co-author Joseph Poon.
The native cryptocurrency associated with the platform is known as the OMG token. OMG, according to OmiseGo co-founder Jun Hasegawa, is “a token that secures a public permissionless POS (Proof of Stake) network, whose primary use case is to host a decentralized exchange for digital fiat and crypto alike.”
At press time, OMG is 22st most valuable crypto based on market cap, with a single token going for around $3.25 (USD).
That being said, some folks believe the altcoin’s value will continue to rise in the not-too-distant future.
Disclaimer: This article is not intended to be investment advice. Readers are strongly encouraged to do their own research before investing in any cryptocurrency.
For those unfamiliar, Us Lifted is a website that produces a variety of crypto-related articles – including price predictions. Last June, an unnamed author published a piece featuring several OMG coin forecasts for the days ahead.
The nameless blogger listed several things the OmiseGo coin has going for it. These advantages include the team behind OMG having futuristic goals and a sound roadmap. He (or she) also believes the innovative team has created “real problem-solving tech.”
While the Us Lifted writer provided three separate price predictions, there was one in particular that they believed was most likely to occur by the end of 2018.
In their own words, “the OmiseGo coin is going to reach up to $20 USD but with lots of complications and hurdles. There are chances of (the) coin going as high as the roadmap of OMG Coin is very sound and new things are going to come in the near future. Hence the rise is obvious but with lots of ups and downs.”
While it’s likely that English isn’t the author’s 1st language –hopefully –readers are still able to get the gist.
Those who have read our previous price prediction articles have likely come across the name John Young before. He is the founder of the crypto-data websites Cryptosheets.com and Spreadstreet.io. Young also claims to have been a former 6th-grade spelling bee runner-up.
Unlike other crypto forecasters, the spelling bee standout uses a unique method to provide a range of potential price points. He refers to this method as “a Monte Carlo simulation using the geometric Brownian motion model.” The simulation essentially consists of getting historical daily prices for cryptocurrencies, calculating returns, and then simulating the year several times.
Using this Monte Carlo simulation to predict OMG’s price ranges for 2018, Young concluded that “we can be 95% certain that OmiseGO prices will fall between $1.17, and $190.71 with a median of $15.74.”
The Oracle is a writer for the website Life After Blockchain, who has also made appearances in our previous articles. While little is known about the author, anyone with a pen name this cool definitely deserves a moment of our time.
In late June, the blogger published an article entitled “OmiseGo (OMG) price prediction: $429.12.” The piece provided a very optimistic outlook for both OMG and crypto in general for the 2nd half of 2018. However, it’s important to note that OmiseGo coins were trading for around $9 each when his article was released.
As The Oracle’s prophecy goes, “My personal target is a $2 trillion market cap for all cryptocurrencies. If we hit that number, we’d be at just 10% of the $20 trillion U.S. GDP. Under that scenario (assuming current coin ratios stay the same), the price of OmiseGo (OMG) would be around $42.47. If we hit 50% of the U.S. GDP, we’d be at $214.56 per OMG. At 101% of U.S. GDP, we’d be looking at a future OmiseGo price of $429.12. During its peak over the winter, each OMG hit $25.61.”
If he is correct, OMG will soon have a lot of folks shouting O-M-G!