MY PARTICIPATATION FOR THE CONTEST :: Contest : Crypto Price Prediction for 2025)
Hello, steemains hope you are doing great. This is my participation in the contest of @rme. This is a great initiative. Here you can find the contest post
I am not skillful in analytics of crypto but I will support my guess with research. Let's begin:
BTC
A cryptocurrency like Bitcoin serves as digital money and a means of payment that is not based on any specific person, group, or other institution, hence removing the need for third parties to become involved in financial transactions. It is available for purchase on various websites and is given to blockchain miners in exchange for their help in verifying transactions. The public was first introduced to Bitcoin by an unnamed developer or group of developers, and since then, it has become the most well-known cryptocurrency globally.
Due to its popularity, a large number of new cryptocurrencies have been created. These competitors either seek to replace it as a means of exchange or are used as utility or security tokens in other blockchains and cutting-edge financial technologies.
Analysis
The cryptocurrency Bitcoin is well-known. To invest in bitcoin, you need to understand the technical analysis used to predict its price. After all, trading Bitcoins without using technical analysis has become a dangerous guessing game!
On a larger scale, there are two major types of Bitcoin investors:
Holders: People who buy Bitcoin with the intention of holding it for a long time.
Traders: People who buy Bitcoin with the intention of quickly and successfully selling it. If you want to invest in Bitcoin and see your money increase faster than with conventional methods, you must develop your technical analysis skills.
Using the concept of historical technical analysis and price patterns, technical analysis examines charts and makes predictions about future price movements. This may be applied to any market, even virtual currencies like Bitcoin (BTC).
My guess
It will cross $100k
Reasons
As @rme mentioned in his post. Because markets cycle, Bitcoin typically cycles every four years, halving once. The price of Bitcoin will start to rise once again as the supply is further reduced in 2024 when there will be another halving.
Nowadays, Bitcoin is accepted almost everywhere and can even be bought at grocery stores using Coinstar machines. It is now available through PayPal, Venmo, and other payment methods including VISA. Businesses and institutions are now investing in bitcoin.
Liquidity
The global construction of trading platforms, exchanges, and online brokerages has made bitcoin one of the most liquid investment assets. Bitcoin may be quickly and easily exchanged for cash or other assets, such as gold, with incredibly minimal fees. If you're seeking a short-term profit, Bitcoin may be a superb investment vehicle due to its high liquidity. Due to their great market demand, digital currencies may also be a long-term investment.
Ease in trading
Stock trading can be a time-consuming, bureaucratic process that is only possible during set market hours. To trade a company's stock, you must also use a broker. However, trading in Bitcoin is really simple: all you need to do is purchase or sell Bitcoin from exchanges whenever you want, around-the-clock, seven days a week. Bitcoin transactions are also instant, as opposed to the days or weeks it may take to settle stock trading orders.
lower risk of inflation
Bitcoin is almost impervious to hyperinflation, unlike other world currencies, which are controlled by their governments. It continues to experience inflation, but at a predetermined rate that is cut in half every four years. There is little reason to be concerned about your cryptocurrencies losing value because the blockchain system is endless.
Explorative
Since Bitcoin and cryptocurrency trading are still relatively new, new coins are regularly emerging. Unpredictable price and volatility changes brought on by this novelty may present opportunities for enormous gains.
Supply and demand
Bitcoin and other cryptocurrencies prices are influenced by perceived value, supply, and demand, just like traditional currencies, goods, or services inside a nation or economy. People will acquire Bitcoin if they think it is worth a certain amount, especially if they feel its value will rise. Only 21 million Bitcoins will ever be produced by design. As long as demand stays the same or rises, the closer Bitcoin comes to its limit, the more expensive it will become. Software and gear used for bitcoin mining produce them at a predetermined rate. Every four years, this pace divides in half, slowing the production of coins. Software and gear used for bitcoin mining produce them at a predetermined rate. As long as Bitcoin's popularity continues to increase and its supply cannot keep up with demand, its price should rise. In contrast, there will be more supply than demand if popularity declines and demand declines. The price of Bitcoin should thereafter decrease unless it continues to hold its worth for other reasons.
TRX
The TRON (TRX) network is dedicated to advancing the decentralization of the internet through the use of blockchain technology and decentralized applications (DApps). Since the debut of the main net in May 2018, the TRON network, which was founded in September 2017 by Justin Sun, has maintained a stellar performance.
TRON (TRX) Overview
Coin Name TRON
Symbol TRX
Rank 13
Safety Score 73/100
Price (USD) $0.054659
All-Time High $0.231673 76.42%
Market Cap $5,022,603,431
24h Volume $139,882,039
Circulating Supply 91,963,675,737
Total Supply 91,963,710,568
Hope you found it informative
My guess
It will cross $0.20.
Reasons
Cheap transaction cost
Transaction costs in Tron are quite cheap. One of the most important factors affecting a cryptocurrency's utility is transaction costs. For instance, Bitcoin is currently not very useful as a form of payment. Simply said, the transaction costs are prohibitive. Its current limited supply, which makes it ideal as a store of wealth, is its principal source of value. As money, Tron is highly useful, which is advantageous for its use cases. These transactions are almost quick, and sending Tron is quite inexpensive. This feature makes Tron a good cryptocurrency to invest in right now given the rising popularity of cryptocurrencies.
Marketing strategy of Justin Sun is quite impressive
Not just another cryptocurrency creator, Justin Sun is also a skilled marketer. He never misses a chance to promote Tron. This is a big thing because Warren Buffet meals are typically covered by virtually all American mainstream media. This made Tron known to many Americans who had previously known virtually little about him. A live example of his marketing is the integration of steem and TRX.
# Listed on different exchanges The expansion of cryptocurrency is influenced by the number of exchanges that list it. It affects its demand and liquidity. On this front, Tron is doing fairly well. It is listed on numerous exchanges throughout Asia and elsewhere. Some are here, Binance, kucoin, OKX, Houbi Globel kraken and many of others. - # Low-cost currency attracts new investor Because it gives huge profits to investors. Many cryptocurrencies have increased in value from a few cents to well over a dollar. This provides significant motivation for investors to try to build up holdings in inexpensive cryptocurrencies in the expectation of striking it rich someday. The spike in demand for tokens like Safemoon is fairly clear evidence of this.
Steem and SBD
STEEM token is a cryptocurrency token that serves as the platform's primary unit of account. Steem and SBD are associated with one platform and their price is quite dependent on each other so I will discuss both in the same section.
MY guess
Steem will cross $1 dollar and SBD will cross $4 dollar
Reasons
Web 3.0
Web 3.0 aspires to alter the status quo. Since the blockchain is the foundation of this future phase of the internet, users should be able to exchange material and establish their own social networks without having to worry about who has access to or may access their information, at least theoretically. A social media platform that can allow users more control over how their personal information is utilized may be possible given that Web 3.0 appears to be mostly about giving people back control over their data. One such Web 3.0 social media platform built on its own blockchain is Steem. People can utilize the system to create and share decentralized applications, which is one way that Steem differentiates from other popular social networking platforms (DApps). DApps are decentralized and, at least theoretically, more private than standard social media apps, which ultimately have a centralized authority with which they share information. It is revolutionary step by the #whormhole team. It will attract more users to steemit as well as investors which will push steem forward.
Steem and TRX are integrated
The steemit team is working very hard and smartly as I mentioned about the marketing skills of Justin sun above. I believe that under his supervision steem and SBD Will go to the moon. I like their work because the team is quite supportive to #newcomer and also support different community, and manages many other projects such as #steemit Engagement challenge. This way the steemit community is growing day by day.
whormhole
I am also a user of #web3 and a big fan of their idea. It is revolutionary step by the #whormhole team. It will attract more users to steemit as well as investors which will push steem forward.
Hive
After the Steem blockchain underwent a hard fork in March 2020, which meant that Steem altered its protocols and essentially created a new cryptocurrency, Hive was created. Previously accepted transactions were no longer valid, and vice versa. A group of developers, financiers, and Steemite community members came together to form Hive. It asserts that there is no actual team or organization behind it, but the website does name "contributors," many of whom use aliases.
My guess
It would cross $1.5 dollar.
Reasons
Have numbers of D-apps
Peakd
Splinterlands
3Speak
Actifit
TravelFeed
Quello
Esteem (Escency)
These apps have major role in maintaining and pushing hive upward. Because there are several developers whose are maintaining these D-apps and bringing new users to Hive and also new investors.
Large Number of whales
I personally notice that on the Hive blockchain there are many whales means that there are many investors. More investment means the price will move upward, due to the supply and demand law.
