The majority of traders in and out of the financial sector are now turning to crypto more than ever. This is because all of them have seen the many opportunities to make profits in the industry. Last year’s bull run was an eye-opener as it swept through the entire market, causing coins to rise. Being on the forefront, Bitcoin was the poster boy of the market as it recorded a massive rise to end the year.
As if that was not enough, the crypto market witnessed another bull run this year after a period of retracement. This caused major coins to be on the uptrend, with most of them touching a new high. With the volatile state of the market presently, investors are looking out for coins with the potential to trade. A coin of interest for investors should be QTUM, which saw a massive bull run to record a price of $8.43. In this article, we will be looking at QTUM and whether it is worth buying for traders.
What is QTUM?
QTUM is a platform in the decentralized finance sector that makes use of smart contracts in its activities. To validate transactions, the platform makes use of the Proof Of Stake consensus mechanism. This means that node operators earn rewards for any transaction that they confirm. Also, users in the community can make changes on the network through votes.
Even though its developers forked it from Bitcoin, the foundation behind QTUM has developed their blockchain. The hybrid blockchain developed depends on several tools to function. Everything regarding QTUM is carried out on the Bitcoin chain because developers can build more projects on it.
QTUM Price Movements
Now that we know everything about QTUM and how it works, we can look at its price history. We will also look into major price predictions of the token to ascertain if traders can invest in it in the future.
As per the details obtained from CoinMarketCap, QTUM presently sells at $13.54 per token. This is a 4.58% increase in the last 24 hours. At this present time, the coin also boasts of a 24-hour trading volume of $316,507,772. Presently, the token is one of the hottest prospects of the market, registering massive gains in the market.
Even though on #80 on CoinMarketCap rankings, the coin is gradually becoming a must-have by every trader. If QTUM continues to move in this direction, it is only a matter of time before it catches up with coins in the top 10. With the bulls still in the market, all things point to the token, making the jump. If its price surges, its daily trading volume could tilt close to around $600,000,000 before the end of the year.
The token has been moving in the market in the last few weeks and might continue with this trend. If it goes bullish, all things point to the token breaking above its $18.28 resistance figure. However, if traders abandon the crypto, the bears could take over, causing it to dip. This shows that the token is on the verge of a bullish trend to end 2021 if all things are equal.
Future Price Predictions Of QTUM
If the asset can maintain its bullish trend till the end of 2022, it will trade close to the $25 price region. Moreover, the first part of 2022 would be a triggering factor. During the period, the asset would be expected to climb as high as $28. Though a bearish period might threaten things slightly, the asset is expected to reach its target by the end of the year.
2023 might be another deciding year for the asset if the bulls continue to push it upward. If there is no issue with the token, it is expected to reach close to $30 at the end of 2023. However, for all this to happen, it needs to first break past its major resistance.
Going by the trend of previous years and projected partnerships and innovations in the future, 2024 should be a good year for QTUM. Aside from the bears and other market factors, the market is earmarked to close to $50. Achieving this feat will not be easy as traders need to play a larger part in the token’s uptrend.
By 2025, the token will be expected to close up above the $65 price mark. Even though it looks challenging, the mark is one that QTUM can reach by its present short-term price moves. With this movement, QTUM could reach an all-time high by the end of 2025.
Is QTUM Worth Investing In?
Going by the price predictions above, one can easily predict that QTUM is a coin for the future. Even though not very popular presently, the token is on course to gain mainstream attention. With it gaining attention and traders adding it to their portfolio, the coin will reach its predicted target.
The bears might be one of the visible challenges that it might face in the long term. But massive adoption could counter the effects of the bears. With its present all time around $99, the token can move close and smash the figure to create a new all-time high. Volatility is one integral factor that traders must consider before buying tokens. They should carry out their own research on the token before choosing the quantity to purchase.