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Algorand Price Prediction — Will ALGO Hit $2.5 Soon?

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Algorand Price Prediction
  • Bullish ALGO price prediction is $1.82 to $2.52.
  • ALGO price will also reach $2.5 soon.
  • ALGO bearish market price prediction for 2021 is $0.82.

In Algorand (ALGO) price prediction 2021, we use statistics, price patterns, RSI, RVOL, and much other information about ALGO to analyze the future movement of the cryptocurrency.

ALGO Current Market Status

According to coingecko, the price of ALGO is $1.77 with a 24-hour trading volume of $353,524,307 at the time of writing. However, ALGO has decreased to 0.2% in the last 24 hours.

Moreover, ALGO has a circulating supply of 6,256,689,316 ALGO. Currently, ALGO trades in cryptocurrency exchanges such as Binance, Mandala Exchange, OKEx, FTX, and Huobi Global.

What is Algorand (ALGO)?

Algorand(ALGO) refers to an open source blockchain protocol that represents a network Algorand is a proof-of-stake (PoS) blockchain that supports smart contracts. The blockchain ensures that the influence of each user when choosing a new block is proportional to their participation in the system.

The cryptocurrency on the Algorand blockchain is Algo. It was designed to speed up transactions and improve efficiency, in response to the slow transaction times of other blockchains.

Algorand (ALGO) Price Prediction 2021

Algorand holds the 20th position on CoinGecko right now. ALGO price prediction 2021 explained below with a weekly time frame.

ALGO/USDT Ascending Channel Trend Pattern (Source: Tradingview)

An ascending channel is a pattern made up of two uptrend lines drawn above and below the price which indicate resistance and support levels. This is a bullish chart pattern defined by a trendline supporting the series of higher lows and a diagonal resistance level connecting the higher highs. While on the channel, prices should jump  upper and lower ranges. When such reversals occur, the method is more reliable.

Currently, ALGO is at $1.75. If the pattern continues, the price of ALGO might reach the resistance level to $2.52 and $2.9. If the trend reverses, then the price of ALGO may fall to $0.82.

Algorand (ALGO) Support and Resistance Level

The below chart shows the support and resistance level of ALGO.

1637780846 556 Algorand Price Prediction — Will ALGO Hit 25 Soon
ALGO/USDT Support and Resistance Level (Source: TradingView)

From the above daily time frame, it is clear the following are the resistance and support levels of ALGO.

Resistance Level 1 $1.82
Resistance Level 2 $2.12
Resistance Level 3 $2.52
Support Level 1 $1.54
Support Level 2 $1.15
Resistance & Support Levels

The charts show that ALGO has performed a bullish trend over the past month. If this trend continues, ALGO might run along with the bulls overtaking its resistance level at $2.52.

Accordingly, if the investors turn against the crypto, the price of the ALGO might plummet to almost $1.15, a bearish signal.

Algorand Price Prediction 2021 — RVOL, MA, and RSI

The Relative Volume (RVOL) of ALGO is shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, RVOL of ALGO lies below the cutoff line, indicating weaker participants in the current trend.

1637780846 505 Algorand Price Prediction — Will ALGO Hit 25 Soon
ALGO/USDT RVOL, MA, RSI (Source: TradingView)

More so, the ALGO’s Moving Average (MA) is shown in the chart above. Currently, ALGO is in a bearish state. Notably, the ALGO price lies below 50 MA (short-term), so it is completely in a downward trend. Therefore, there is a possibility of a reversal trend of ALGO at any time.

Meanwhile, the relative strength index (RSI) of the ALGO is at level 44.79. This means that ALGO is in a neither overbought nor oversold state. However, this means a major price reversal of ALGO may occur in the upcoming days.

Algorand Price Prediction 2021 — ADX, RVI

Let us now look at Algorand’s Average Directional Index (ADX). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. ADX is a component of the Directional Movement System. This system attempts to measure the strength of price movement in the upward and downward directions using DMI indicators with ADX.

1637780847 143 Algorand Price Prediction — Will ALGO Hit 25 Soon
ALGO/USDT ADX, RVI (Source: TradingView)

The above chart represents the ADX of Algorand. Currently, ALGO lies in the range at 41.19, so it indicates a strong trend.

From the above chart, the Relative Volatility Index (RVI) of ALGO. RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of ALGO is below the 50 level, indicating that the direction of volatility is low. In fact, ALGO’s RSI is at the 44.79 level thus confirming a potential sell signal.

Comparison of ALGO with BTC, ETH

The below chart shows the price comparison between Bitcoin, Ethereum and Algorand.

1637780847 269 Algorand Price Prediction — Will ALGO Hit 25 Soon
BTC Vs ETH Vs ALGO Price Comparison (Source: TradingView)

From the above chart, we can identify the trend of the ETH, BTC and ALGO is moving at the same level as the trend. This indicates that when the price of BTC increases or decreases, the price of ETH and ALGO also increases or decreases respectively.

Conclusion

With continuous improvements in the Algorand network, we can say that 2021 is a good year for ALGO. For this reason, the bullish price prediction of Algorand in 2021 is $2.9. On the other hand,  the bearish ALGO price prediction for 2021 is $0.82.

Furthermore, with the advancements and upgrades on the ALGO ecosystem, the performance of ALGO would rise reaching $2.12 very soon. But, it might also reach $2.5 if the investors believe that ALGO is a good investment in 2021.

FAQ

What is an Algorand?

Algorand is a decentralized network created to solve the blockchain trilogy of achieving simultaneous speed and security.

Where can you purchase ALGO?

ALGO has listed on many crypto exchanges which include Binance, Mandala Exchange, OKEx, FTX, and Huobi Global.

Will ALGO reach a new ATH soon?

With the ongoing developments and upgrades within the ALGO platform, it has a high possibility of reaching its ATH soon.

What is the current all-time high (ATH) of Algorand?

On June 20, 2019, ALGO reached its new all-time high (ATH) of $3.56.

Is ALGO a good investment in 2021?

Algorand seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of ALGO in the past few months, ALGO is considered a good investment in 2021.

Can Algorand (ALGO) reach $2.5?

Algorand (ALGO) is one of the active crypto that continues to maintain its Bullish state. Eventually, if this bullish trend continues then Algorand (ALGO) will hit $2.5 soon.

What will be the ALGO price by 2022?

Algorand (ALGO) price is expected to reach $2.65 by 2022.

What will be the ALGO price by 2023?

Algorand (ALGO) price is expected to reach $4.80 by 2023.

What will be the ALGO price by 2024?

Algorand (ALGO) price is expected to reach $8.50 by 2024.

What will be the ALGO price by 2025?

Algorand (ALGO) price is expected to reach $12 by 2025.

Disclaimer: The opinion expressed in this chart solely author’s. It is not interpreted as investment advice. The NewsCrypto team encourages all to do their own research before investing.

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Bitget KCGI 2022 Officially Begins alongside Extended Registration

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Singapore, 19 May, 2022 –  Leading global derivatives exchange, Bitget, today announced its bi-annual trading competition – King’s Cup Global Invitational (KCGI), has officially begun. Due to overwhelming response since its launch, the deadline for registration has been extended. While the actual competition will still commence on May 20, 10:00 (UTC +8), participants can continue to register for the competition from May 20, 10 :00 (UTC +8) to May 24, 10:00 (UTC+8). KCGI 2022 will officially conclude by June 10, 10:00 (UTC+8). 

When registration for KCGI 2022 officially opened on May 9, a record number of 500 registrants were recorded, signifying a positive response for the long-awaited return of the trading competition for the Bitget community. As details of the competition continued to emerge, including the doubled prize pool as well as a variety of gifts offered as prizes, the number of users continued to increase. To date, more than 3,000 registrants have been recorded, representing a 500% increase since launch day. In light of such an overwhelming response from the community, and following the momentum of last year’s popularity, the registration window has now been extended by four days to May 24. Users with at least 300 USDT in their futures account at the time of application will be eligible to participate in this year’s KCGI.

During KCGI’s initial debut in 2021, more than 10,000 users participated. Responses from the community were largely positive, with more than 88% of users indicating that they would participate in the next edition of KCGI, and more than 79% of users stating they would share this initiative with other fellow traders. Trading competitions have proved to be innovative and interactive avenues to build and expand existing communities within the crypto space. By offering a separate opportunity and environment for users to engage in, alongside the possibility of earning fruitful returns, also reiterates the flexibility and endless possibilities available to traders within the space. 

Commenting on the official commencement of the competition, Bitget’s CEO, Sandra Lou said, “Leveraging on the growing influence of trading competitions, as well as the successful run of KCGI, we will continue our efforts in introducing more rewarding and enticing initiatives for our users to participate in. Most importantly, we look forward to giving our users more options when looking to diversify their investment portfolio. 

Sandra continued to add, “We are extremely heartened to see the overwhelming response from users during the initial round of registration. With this unprecedented move of extending the deadline, we are looking forward to seeing the competition unfold. Let the games begin!”

For more information on KCGI, please visit https://www.bitget.com/en/kcgi/spring/2022 

About Bitget

Established in 2018, Bitget is one of the world’s leading cryptocurrency exchanges. Currently serving over two million users in more than 50 countries around the world, Bitget accelerated its mission to promote decentralised finance in 2021 with a 500-strong workforce spanning over 20 countries. 

Since Bitget’s official launch in the crypto derivatives market in June 2019, the platform has now become one of the world’s largest crypto copy trading and derivatives exchanges, and is ranked in the top five globally by CoinMarketCap and CoinGecko for derivatives trading by volume. Bitget’s flagship product, One-Click Copy Trade, has attracted more than 20,000 copy traders, innovating the experience for crypto derivatives traders worldwide.

Adhering closely to its philosophy of ‘Better Trading, Better Life’, Bitget is committed to providing comprehensive and secure trading solutions to users globally, aiming to be the portal that transcends Web2 and Web3, that connects CeFi and DeFi, resulting in an expansive bridge to the vast web of crypto. In September 2021, Bitget announced its sponsorship of world-renowned football team Juventus as its first-ever sleeve partner and PGL Major’s official esport crypto partner soon after. Partnerships with the leading esports organisation, Team Spirit, and Turkey’s leading and long-standing football club, Galatasaray, were also announced in early 2022.

For more information, please visit:

Official website: https://www.bitget.com/en/

Telegram: https://t.me/bitgetEN

Twitter: https://twitter.com/bitgetglobal

LinkedIn: https://www.linkedin.com/company/bitget-global/

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Famous Futuristic George Gilder Weighs BSV Over BTC at Summit

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Bitcoin (BTC) Prices Hold Steady After a Severe Turmoil
  • The Summit is held annually to help investors discover new market trends.
  • Gilder highlighted the advantages of BSV over BTC to the current issues.

As per renowned futuristic George Gilder, a “dynamic Bitcoin” that has “really created a miracle in recent months,” BSV is on the verge of becoming the de facto standard for all global currency in the next five to ten years. The Famous futurist gave an online “Six Predictions Summit” presentation to a group of financial experts, highlighting the advantages of BSV over BTC as the answer to the current economic and technical issues.

Framework for New World Order Required

According to Gilder, “immutable, unhackable” Bitcoin and the blockchain have produced freedom from political control currency. “Dual hacking crises” (technology hacking and economic hacking) affect today’s globe. Still, they may be addressed by establishing a new global economy and laying a framework for new world order.

The Six Predictions Summit is held annually to help investors discover new market trends. Due to current travel and other constraints, this year’s event was hosted online instead of in person. Renowned investing trend spotters Jim Rickards, James Altucher, Ray Blanco, Zach Scheidt, and Alan Knuckman joined hosts Doug Hill and Matt Insley on the show.

George Gilder has referenced Bitcoin’s “digital gold” myth at several points. Aside from noting that “the original Bitcoin, BTC” and Bitcoin Satoshi’s Vision or BSV are distinct, he reaffirmed gold’s usefulness as a long-term store of wealth.

Gilder said:

“Bitcoin Satoshi Vision has really created a miracle in recent months, rather than the static Bitcoin, which people hold on for dear life. It’s a dynamic Bitcoin that moves with the advance of technology.”

Despite the fact he called BTC “Bitcoin”, “the original Bitcoin” was not the answer he was talking about. The asset was regarded by him as being of no use to anybody except speculators, terming it as static.

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Is the Future of Real Estate in the Metaverse?

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Is the Future of Real Estate in the Metaverse?

Although the metaverse is not a new concept, it has recently gained much more attention. Many are now becoming familiar with the idea, and are looking into what its future offers and how they can be a part of it. The metaverse will completely transform the current way of life for the average individual, affecting work, trade, entertainment, leisure, exercise, social interactions, and everything in between.

Apart from the retail players, big tech companies are also getting into the space. Facebook, the world’s most popular social media platform as of 2021, has recently rebranded to “Meta”, showing its commitment to this new space. According to an official announcement, rebranding was necessary because the company is shifting its focus to bring the metaverse to life. Footwear and apparel giant Nike is also preparing for the metaverse and has signified interest in creating its own space, as well as Adidas, another powerhouse brand.

The metaverse will transform many aspects of life by improving interpersonal interactions, establishing communities, and helping businesses grow. The climate required to create and operate a successful business will also change considerably. Firstly, the metaverse will allow businesses, regardless of size, to establish digital stores for their goods and services. A significant advantage of these capabilities for the average company is that opening a physical store is no longer necessary. This could significantly reduce overhead costs without having to sacrifice customer reach. In a virtual world, a company can tap into wider audiences beyond the physical boundaries imposed in a real-life setting.

There are also multiple metaverse use cases for the entertainment sector. For example, entertainment brands could use metaverse locations to preview music to excite virtual fans, holding mega concerts to listeners around the world. Furthermore, fans may also get the chance to meet and interact with their favorite celebrities, an opportunity rarely possible in the real world.

Additionally, people can gather for leisure activities in virtual parks to play or bond over shared interests and ideas. These locations could replicate attractions available in the real world, engaging all different types of users in the process. For instance, people can build teams based on varying activities, including everything from traveling, virtual combat, or playing chess. The metaverse will offer a slew of new opportunities for individuals and brands alike.

One of the less obvious but very promising advantages of the metaverse is the opportunity to capitalize on virtual real estate. Regardless of sector or industry, the shift to the metaverse still requires individuals and businesses to establish a presence on the metaverse; this is where virtual real estate comes in and plays its part.

All metaverse offerings, including commerce, healthcare, entertainment, and other sectors, must set up shop somewhere in the metaverse to reach their desired base. Individuals can also invest in virtual properties for various reasons, In parallel to the traditional real estate market, Investors can earn profit by purchasing properties and leasing them to businesses and other franchises. Investors can also simply buy virtual properties, hold them into the future, and later flip them for a potential profit. With 500 million dollars sold just in real estate in the metaverse, last year projections state that it will double this year!

The key to making the best out of a real estate investment is getting in early. As with everything else, early buyers catch on quicker and are in a better position to make a profit if and when the value increases. Investors are able to pick their property at floor price in a strategic approach that will allow the potential for a larger profit as well as an easier sale just as investors do in the traditional real estate setting. Users looking to get into digital real estate in the metaverse can start their virtual portfolio and begin with Ethereum Towers.

Ethereum Towers

Ethereum Towers is a community-centric vertical megastructure set in the Ethereum Worlds metaverse. Consisting of 4,388 separate apartments, Ethereum Worlds is a major player in the space available to investors interested in taking an early chunk of the metaverse real estate market as it grows. The apartments in the structure are in two identical towers, each with 101 stories. Each apartment is an NFT on the Ethereum network and is available as an ERC-721 token.

All owners in the Ethereum Towers can use their apartments however they please. Each owner can personalize their space how they wish, giving them full autonomy over their digital real estate asset. For this, the Ethereum Towers offers a marketplace with a wide range of accessories, furnishings, and ornaments that owners can purchase and set as preferred. Since each apartment is available on the Ethereum blockchain as an NFT, ownership is guaranteed and easily verifiable.

Due to the deliberate design, Ethereum Towers apartment owners and guests can explore the social benefits of a large community with similar interests. All residents partake in a virtual social experience supported by meaningful interpersonal interactions. Each tower possesses communal areas where owners can meet and interact, regardless of any preconceived boundaries that would limit interaction in the physical world. Through these interactions, users can build a strong sense of belonging and establish friendships along the way.

Perhaps the most significant advantage to Ethereum Towers is the investment opportunity it offers. In the metaverse, unlike in the real world, digital property assets usually have a much lower entry barrier, making it much easier for interested investors to get involved before the masses. The value of the apartments are projected to increase over time as meta living becomes more popular, providing early adopters a chance to capitalize on being first movers.

Getting In Early

Investors that have been able to identify ideas that dramatically impact the functionality of the future have always prospered. Those who understand the impact and utility around the metaverse too will have a major headstart within the benefits that this realm will offer. With Facebook being one of the largest and most successful companies taking action to rebrand itself as “Meta,” this should give investors a clear idea that a new significant era is on the horizon.

 

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