Price Prediction

Digibyte (DGB)Price Prediction – 2020

The popularity race between thousands of already existing cryptocurrencies is evidently the survival of the fittest. As the markets differentiate between these digital currencies in a number of ways, many cryptos establish themselves as a prominent member of the ecosystem along such lines as price, nature of blockchain in terms of speed and scalability, coin volatility as well as compatibility with the present financial ecosystems.

While Bitcoin takes a prominent position among other cryptocurrencies due to its price and popularity, others have other advantages like blockchain scalability as in Bitcoin SV, smart contracts as seen in Ethereum as well as blockchain speed as exemplified by Digibyte.

 

This article aims to present the future prices of Digibyte from a neutral perspective while outlining some important features like price analysis, general market traction, and up to half a decade price prediction. 

What Is DigiByte?

DigiByte is a digital currency (Cryptocurrency) which was developed to offer features of utmost blockchain security. DigiByte is widely recognized as one of the safest cryptocurrencies in the space. In part, this is due to several parts of crypto technology (like the DigiShield or its 5 mining algorithms) that the project developed and implemented. Its 5-year existence makes it one of the older projects on the market, one that managed to expand to over 200,000 nodes throughout the timeframe.

As it seemed focused on the networking aspect at the time, DigiByte kept trailing the path of achieving wider adoption in the world of crypto.

However, absence of the biggest cryptocurrency exchanges like Coinbase and Binance contributed to a fast diminishing brand recognition which represents a major factor for the development of trust in a payment currency.

Unfortunately, technology alone won’t get you there – people need to share the belief that a currency is able to preserve their value for the future. And that, however, is a missing tool in DigiByte at the moment.

DigiByte Price Today

At the time of writing this piece, DigiByte is changing hands at $0.01733 having gained about 40% since Tuesday 21st April 2020.

The cryptocurrency was caught in a bear trap yesterday, June 2 when bitcoin suddenly crashed heavily. This affected the price of DigiByte while the cryptocurrency joined the general crypto market bloodbath. 

Over the last 24 hours, DigiByte reached a top price level of $0.02 when bitcoin underwent a short bullish tantrum that caught the market by a surprise. Although this did not last long as the cryptocurrency succumbed to selling pressure. This has since then sent the price crashing below the critical resistance at $0.02.

DigiByte has faster transaction speeds per second, is more secure, and is one of the most decentralized blockchains in the space.

DigiByte Price Analysis 2014-2019

DigiByte first appeared on the market in February 2014. The coin had a rough start. From trading at $0.1 for several days to crashing deep to touch an historic price of $0.0003. The newcomer crypto lost the attention of investors who bought more reputable cryptocurrencies like bitcoin. However, the money still came into the project, since market capitalization was slowly but surely growing.

The following years, the price alternated around the level of 0.0003 dollars. And finally, DigiByte, like many other cryptocurrencies gained considerably in the 2017 market bull run. Traders who bought DGB before this time earned a triple profit as the value of the coin increased to $0.001. This was the first time in a long period that capitalization began to amount to tens of millions, and not hundreds of thousands of dollars.

Later in 2017, as the bull run peaked, market quotes began to grow even more intensively. This was facilitated by a positive news background, in particular, the addition of DGB to the popular payment system Paytomat and listing of top exchanges.

By January 2018, the DigiByte had reached a historic high of $0.13 per coin and capitalization had increased to $1.3 billion. This was where things stood before the bearish move of 2018 which crashed the general crypto markets in which DigiByte had a lion share.

In spring 2018, the price was at the level of two cents, but in the summer there was a clear downtrend, which still persists. At the moment, DGB is trading for $0.005, and the capitalization is $68,023,422.

The second tier cryptocurrency had shown great correlation to bitcoin since the beginning of the year. In January, the coin started with $0.005 per unit and rose steadily until the end of the month. However, the massive bear markets that set in also drastically affected DigiByte, a condition which saw prices crashing by almost 40%.

The bear markets experienced in mid-March began to reverse steadily early towards the end of the month. Early on in April, DigiByte gained about 70% in the first two weeks to touch the $0.0077 level. Until the present, the momentum is yet to be altered and a further upward side is still in view.

DigiByte 2020 Price Prediction

A report from Wallet Investors (WI) however disagrees with technicals by Digital Coin Price which suggests that the cryptocurrency may see a 100% rise in price by the end of 2020. According to the platform, DigiByte may reach as much as $0.016 per unit by December 2020.

DigiByte recorded quite a success this year having gained around 300%. Starting out the year at $0.005, the coin traded sideways until the end of the first quarter. Mid-March, prices dropped to $0.0035 and began to rise steadily thereafter. 

By mid April, the market swung into a bullish trend which later escorted prices towards $0.01. The bullish momentum was enough to keep the bull run beyond the $0.015 level. A price rejection occurred but the bulls soon took control. 

By the beginning of May, DigiByte recorded it’s Year-till-date (YTD) All-Time-High (ATH) price of $0.025. Although by the middle of May, prices had dropped back below $0.015.

DigiByte 2021 Price Prediction

According to the Wallet Investor (WI) Forecast System, DGB is a bad long-term (1-year) investment. The potential for the price of DigiByte to drop from 0.00639 USD to 0.00210 USD is highly suspected. The change will be -67.0913%. Current data stipulates that DigiByte (DGB) and potentially its market environment has been in a bearish cycle for the last 12 months. 

DigiByte Price Prediction (Next 5 Years)

Based on the data, it can be predicted that it is Profitable to invest in DigiByte (DGB) for the long term. By long-term, the source means the DigiByte forecast for a period of 5+ years. The price of DigiByte (DGB) in 2022 will be about $0.0429.

The price of DigiByte (DGB) in 5 years (from today) will be around $0.0875.

DigiByte Market Prediction

According to the Wallet Investor (WI) Forecast System, DGB is a bad long-term (1-year) investment. The potential for the price of DigiByte to drop from 0.00639 USD to 0.00210 USD is highly suspected. The change will be -67.0913%. Current data stipulates that DigiByte (DGB) and potentially its market environment has been in bearish cycle last 12 months. 

This report from WI however disagrees with technicals by Digital Coin Price (DCP) which suggests that the cryptocurrency may see a 100% rise in price by the end of 2020. According to the platform, DigiByte may reach as much as $0.016 per unit by December 2020.

Our DigiByte Price Prediction

We make reference to few market speculations by reputable networks which have predicted the possible price of DigiByte within a one-year time frame. Generally speaking, the bias is on the negative side as price tends to show downward potential by the end of 2020. We predict the price of DigiByte to be around $0.005 by the end of 2020. 

Although we remain bearish on DigiByte in the short term, our prediction leans towards a bullish sentiment in the long term point of view. In 2021 we believe DigiByte can touch $0.1 and about $1 in the next 5 years. 

DigiByte Recent Updates

DigiByte recently announced that its native cryptocurrency, DigiByte Coin is now accepted in the ongoing Burency token sale event. The blockchain twitter handle updated the information lately.

The platform also recently posted vacancies for developers who could contribute to the development of its technology and platform. 

DigiByte is looking for developers who can help ongoing projects to dramatically improve Developer Engagement and Experience of the DigiByte blockchain! 

DigiAssets is now live on TestFlight! Download the latest DigiByte iOS app beta today and provide feedback about your experience. 

EGW Capital to test DigiByte blockchain on real estate tokenization in India.

EGW Capital, the blockchain investment bank has clarified that it will use DigiByte blockchain technology for the real estate tokenization in the coming few weeks.

DigiByte Foundation and ThreeFold recently announced  their collaborative partnership.

DigiByte and ThreeFold will work together on developer and user projects on the ThreeFold Grid. 

The DigiByte developer community, and anyone interested in contributing to the DigiByte Blockchain, is being invited to use a more decentralized and affordable cloud computing capacity. This will allow developers to deploy their DigiByte nodes and IT workloads on the ThreeFold Grid with an independent performance via Smart Contracts for IT.

FAQ’S

  1. What is DigiByte?

    DigiByte is a crypto currency built on block chain technology like Bitcoin and Ethereum. It is widely recognized as one of the safest cryptocurrencies in the space. In part, this is due to several parts of crypto technology (like the DigiShield or its 5 mining algorithms) that the project developed and implemented.

  2. What is the price of Digibyte at the moment?

    At the moment, DGB is trading for $0.005, and the capitalization is $68,023,422.

  3. What was the All-Time-High price of DGB?

    By January 2018, the DigiByte had reached a historic high of $0.13 per coin and capitalization had increased to $1.3 billion.

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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