PHX is a Chinese coin used as a part of capital markets research platform. Is it a good investment? Should you hold this crypto? Read our price forecast to know more.
What is Red Pulse Phoenix (PHX)?
According to the project’s official webpage, Phoenix is a next evolution of Red Pulse, which is a tokenized research ecosystem for China. It consists of the website Redpulse.com and mobile app with push notifications based on topics, type of a company, and sectors.
PHX is designed to power a new content production and distribution platform which is focused on capital markets in China. Anyone can start getting paid for sharing their knowledge about Chinese markets (read more on RedPulse Twitter page).
The project’s coin was named RPX earlier. Several months ago, after the platform’s rebranding/updating, crypto exchanges supported the Red Pulse (RPX) token swap to PHOENIX (PHX). PHX Coin showed incredible growth on Binance in the end of October 2018.
PHX Price Prediction 2018-2019
We’ve find some factors that may affect price of PHX coin in one way or another.
Potentially favorable factors include:
- Phoenix has recognizable brand with a good design.
- The website of the platform is relatively informative. There you can find so-called PHOENIX One-Pager (like very short Whitepaper), Development Plan, etc.
- There is a crypto feature. To take advantage of it, you need to convert your PHX tokens into PHF (PHOENIX Fire).
Potentially unfavorable factors are as follows:
- There are so many altcoins in the cryptocurrency market. Some of them are offering features that are similar of those of Phoenix, for instance, Callisto has Cold Staking protocol.
- Redpulse.com website is not very popular at the moment. According to SimilarWeb, it is ranked 735, 377 worldwide (as of 28 October 2018).
We believe that in short-term perspective PHX price may decrease. Pumps are always followed by dumps. But as practice shows, highly pumped coins at Binance increase in value again after some correction. In addition, we think that Redpulse.com will develop in future and attract new writers, hence the token’s price will gradually increase.
Find our PHX price forecast for 2018 and 2019 in the table below.
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Disclaimer. This information should not be used as investment advice. It is of educational nature only. Always do your own research before investing in crypto-coins and trading.