Price Prediction

Algorand Price Prediction: Will ALGO Price Rise in 2021?

Algorand is one of the recognized public cryptocurrency blockchains and protocol intends to deliver decentralization and security for the participants. It accelerates the transaction speeds and uses a pure proof-of-stake mechanism.

Do you know? Algorand is a permissionless proof-of-stake consensus mechanism. 

In this article, you will have a clear idea of the Algorand price prediction for 2021 and beyond. We shall also see how high the ALGO Price could hit.

Table of contents

CryptocurrencyAlgorand
TokenALGO
Price(At the Press time)$1.46
Market Capitalization$4,432,956,260
Circulating Supply3.03 billion ALGO
All Time High$3.28 (June 21, 2019)
All Time Low$0.1024 (March 13, 2020)

Algorand Fundamental Analysis

Algorand is a decentralized digital currency and smart contract platform that is completely secured and scalable. ALGO uses a permissionless proof-of-stake protocol. It enables its holders to participate in all the processes of the consensus. Algorand processes faster transactions at low cost. It aspires to create a transparent platform through decentralized projects and applications. 

Founded by Silvio Micali,  Algorand platform has the capacity to handle almost 1 million transactions per day. 

Also Read: Solana Price Prediction, Will SOL Hit $100 by the end of 2021?

Algorand Price Prediction 2021

Following a bearish trend, ALGO entered the year 2021 with trading value of $0.37. Later, the price started to reinforce as the token followed an upward trajectory. The token marked the yearly highs at $1.71 in the mid of february and dipped down, trended sideways further.

Algorand might likely escalate if it concentrates on building its platform and the software upgrade. The price might decline to as low as $0.30 if the market continues to be bearish. At the end of 2021, the highest ALGO price might reach $15.

Algorand Price Prediction 2022

Algorand might start the year 2022 at a trading value of $16.85 and the token may aggravate further. The community might concentrate on strengthening the protocol as well as the user base. By the end of 2022, the digital currency might reach as high as $35.

Price Prediction For Next 5 Years

In the next 5 years, ALGO might be listed in many exchange platforms and the price is anticipated to intensify. The community might attract the users and marketers with certain collaborations with other projects and startups. It might enrich more security to its platform and may concentrate on transparency. The token might sink if the bears hold the market for a longer time. By the end of 5 years ALGO’s price is assumed to hit $60.

Also Read: Synthetix Price Prediction, Will SNX Price Hit $100 by 2021?

Market Prediction For Algorand Price

WalletInvestor

According to WalletInvestor, Algorand is a good long term investment and could be traded at $2.026 at the end of 2021 and $6.740 by the end of 2025.

DigitalCoinPrice

According to DigitalCoinPrice, ALGO would trade at an average price of $2.2 by the end of 2021 and $4.36 by 2025.

CoinArbitrage

According to CoinArbitrage, the Algorand price could be $1.12759 at the end of 2021 and may reach $12.604 by the end of 2026.

Longforecast

Longforecast analysts predict the price to reach $3.61 to $4.48 by the end of 2021 and $7.89 to $9.79 by the mid of 2025.

Our Algorand Price Prediction

Algorand entered the year 2021 at a cost of $0.37. Further the token started to recover steadily. 

Algorand might hit a high price if it consistently focuses on inbound developments. The community could acquire the minds of the marketers as it is a unique token delivering scalability and more security. By the end of 2021, the ALGO’s highest price might be $18.

Historical Market Sentiments

2019

According to Coinmarketcap, Algorand initiated its journey on June 20 with an effective trading value of $2.89. Dramatically, the token started to decline at its initial stage of journey and plunged to $1.43 by the end of July. 

Further, the digital currency started to slump as the ALGO bears were ruling. As a result the token drastically plunged to $0.18 by the end of September. Further with certain price variations, the token traded at $0.23 to conclude the year 2019.

2020

On a bearish note, ALGO continued to trade at $0.21 during January. The price substantially recovered to $0.45 by the end of February and shockingly slumped to $0.12 by mid March as the decline of cryptocurrency space amid Covid-19 outbreak.

 Later the token significantly hit $0.65 and claimed a resistance level by mid August and the price started to hover after. Algorand arrived at $0.33 in December to complete the year 2020.

Also Read: Swipe Price Prediction : Will SXP Price hit $10 by the end of 2021?

FAQ

What is a permissionless blockchain?

It is a blockchain that anyone is able to join and does not require any authorization.

What is pure proof-of-stake?

It is an implementation of design which defines how people can participate in a decentralized network while preventing forged identities at the same time.

Is Algorand a profitable investment?

Yes, Algorand is a good and profitable investment for the long term.

Where to trade Algorand?

Algorand can be traded on exchanges like Binance,Coinbase Pro, Huobi Global, OK Ex and many more.

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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