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“DeFi boom is a very near equivalent of an apocalyptic event for the traditional financial institutions.”― Mohith Agadi
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Whilst the conventional blockchain is one of the most innovative inventions to hit the modern world, like anything, it’s not without its flaws. From speed and security to fees and scalability, there are downsides to the upsides of major blockchains like Ethereum. Polkadot is an alternative blockchain aiming to change that.
Essentially a “multichain” rather than a blockchain, Polkadot boasts significant benefits over traditional blockchains ranging from extremely high transaction speeds to increased flexibility. This has not gone unnoticed and in 2021, it even outgrew Bitcoin. In recent months, this promising digital asset has seen enormous returns on investment. Leading to increased demand for an accurate Polkadot price prediction.
But are you wondering if it’s too late to start investing in Polkadot? You’re not alone, many people are curious about whether investing in Polkadot now is a good idea. I was one of those people until I began to use a range of factors to research the future price of Polkadot such as:
- Price history
- The latest legislation
- Prediction strategies
- Expert analysis
- New investors
By analyzing all of these factors, I was able to find out that there’s never a bad time to invest in Polkadot. For example, statistics from the leading trading platform of eToro tell us that sales have skyrocketed in the past few months, demonstrating that demand for cryptocurrency is very high.
But what does the future hold for investors who get on board now? Will it rise even further? Our Polkadot price prediction aims to answer all. But first, let’s start with just what this multichain alternative to the blockchain actually is and how it works.
What is Polkadot?
Polkadot was launched in 2020 making it one of the most recent digital assets on the scene. Despite its short existence, Polkadot has gone on to become one of the most well-funded blockchain projects in the history of crypto. But what exactly is it?
At its base, Polkadot is similar to Ethereum in the sense that its overall goal is to incentivize a global network of computers to operate a blockchain. Upon this blockchain, users can then launch and operate their own blockchains. But there are a number of unique aspects of Polkadot, too.
Polkadot operates two different kinds of blockchain. The first is the main network known as a relay chain. The second network, known as a parachain, is created by users of the platform. The latter is an interesting concept indeed. It can be customized for a range of functions with the ability to feed into the main blockchain. This way, parachain transactions are able to utilize the same security as the main chain.
With a combination of parachain and relay chains, one of the main selling points of Polkadot is its ability to provide a significant level of security and accuracy to transactions that take place on the network. In addition, users of Polkadot have the ability to customize the various parachains for a range of different uses.
Overall, the design of Polkadot is created with the aim of privacy, security, and efficiency. By creating unique blockchains that don’t disclose user data to the public network, they ensure a superior level of privacy. They also have the ability to create blockchains with even greater power than that of Ethereum, allowing users to enjoy rapid-speed transaction times.
Pros and cons of Polkadot
Like any cryptocurrency, Polkadot has its fair share of incredible pros and limiting cons. We always aim for transparency in our articles. So in this section, we’re going to cover some of the most important pros and cons of Polkadot.
|✔️ The Polkadot has significant developer activity which will drive up its price in the future.||❌ Enormous competition from similar Smart Contract Blockchains.|
|✔️ The Polkadot price relies on is diversification.|
✔️ It’s secured a number of significant and successful partnerships.
Do you still have questions about Polkadot? Rest assured, before we get into the price prediction, next we’ll cover some frequently asked questions about Polkadot to give you a better understanding of the original digital asset and its price potential.
Who uses Polkadot?
Polkadot is used by those seeking an alternative blockchain to the major crypto players such as Ethereum, investors looking to speculate on the price, and people looking to create blockchains upon a blockchain. Due to more flexibility, security, and higher speeds, many predict that Polkadot has the ability to be a major contender with Ethereum in the near future.
How does Polkadot gain value?
Like most cryptocurrencies, the value of Polkadot is largely driven by speculation in its current state. As more people discover the wide range of its uses, its value grows. Due to its innovative nature and continuous growth of significant partnerships, support for Polkadot is only expected to grow as cryptocurrencies become a more widely accepted alternative to fiat currencies. When it does, the value will likely grow in sync.
Can Polkadot reach $1,000 per token?
Based on its recent price surges and innovative nature of being a platform with a growing userbase looking to take advantage of its innovative blockchain technology, it’s possible that Polkadot could reach $1,000 per token in the long term. Some analysts predict this could happen by 2025.
Where do people buy, sell, and trade Polkadot?
You can buy, sell, and trade Polkadot from various crypto trading platforms. If you are a new investor, then we suggest using eToro. It’s safe, regulated, and beginner-friendly. The eToro interface is very simple to use, and it has an array of trading tools to allow you to trade safely.
Polkadot Price History
Since it was only launched on the crypto market in 2020, Polkadot has a relatively short history. Prior to its launch, an ICO was launched by the Polkadot Foundation in 2017. When almost half of the 10,000,000 DOT supply was successfully sold, it raised more than $140 million, making it one of the most well-funded blockchain projects in the history of cryptocurrency.
In 2020, the early days of Polkadot’s launch were rocky, to say the least. By mid-September, Polkadot was trading around $5.20. After a price plunge to $3.86 in the middle of October, it ended the month at $4.15.
November saw another price drop as the price of Polkadot plunged to $3.90. But towards the end of the month, things began looking up as the price rose to $5.88. By the end of December, the price had risen even further to a high of $7.68. But it was 2021 that would see the patient investors of Polkadot be rewarded massively.
In 2021, Polkadot began to skyrocket to all-time highs of that year. Those who invested early enough and rode out the initial rocky few months were rewarded enormously. By mid-February of 2021, the price surged to $41 per coin. By mid-April, it dropped to around $29 per coin, allowing those who had cashed out earlier to buy back in.
By the middle of May, the price of Polkadot had surged again to another high of over $48. Currently, the price has dropped significantly with many other cryptocurrencies. The price currently sits at around $16. Is this potentially the perfect opportunity to buy in before another price surge? Let’s see what the experts have to say!
Expert analysis of the Polkadot price potential
One of the best tools we can use to try and determine the potential future price of Polkadot is to analyze the opinions of various crypto experts. Let’s delve into four estimated growth outlooks for various industry experts and analysts.
Overall, Previsioni Bitcoin is bullish on the Polkadot price prediction. Based on Polkadot continuing to build partnerships with influential organizations and persisting with being a unique blockchain model that retains a solid support base, they believe it has the potential to reach between $77.46 and $82.47 between the end of 2021 and 2025.
WalletInvestor uses an algorithm-based forecast in an attempt to predict the future price of cryptocurrencies. When it comes to Polkadot, they are also bullish. By the end of 2021, they predict the price could be around $58. Over the long term, WalletInvestor predicts that the price of Polkadot could reach somewhere around $225 by the end of 2025.
DigitalCoinPrice is fairly bullish on its Polkadot outlook and expects the price to gradually increase over the long term. DigitalCoinPrice predicts it to reach $25.18 by the end of 2021, $35.49 by the end of 2023, and finally, a figure of $50.99 by 2025.
Rather bearish expert analysis on Polkadot is LongForecast. They predict the price in 2021 to potentially drop to $9.33 by the end of the year. By the end of 2023, they expect it to reach $19.15. But they expect the price to drop to $18.66 by the year 2025.
So from over $58 in the short term and up to $225 in the long term, the overall expert analysis on the future price of Polkadot is overwhelmingly bullish with some potentially lucrative returns in store for investors. But what does the technical analysis tell us about the price potential of this innovative digital asset?
Technical analysis of the Polkadot price potential
Now we move onto technical analysis to try and predict the future price of Polkadot. This section will utilize powerful tools like the Japanese candlestick, chart patterns, and trading indicators. As well as giving traders the upper hand in day trading, they can enable us to discover long-term price predictions based on pure technicals when we assess longer time frames.
Polkadot Price Prediction 2021 – 2022
Since the beginning of 2021, the price of Polkadot skyrocketed by 81% from $9.26 to its current price of $16.79. It’s predicted that the Polkadot price will rise an additional 87% in the second half of 2021 and it’s then expected to close the year at $17.14. A year-to-year change of +85%.
Polkadot Price Prediction 2022 – 2023
After starting the year at $17.14, it’s predicted that the price of Polkadot will rise to $18.73 per coin in the first half of 2022, it’s then expected to gain $5.62 and finish the year at $24.35, which is a +45% gain on the current price.
Polkadot Price Prediction 2023 – 2024
After starting 2023 at $24.35, Polkadot is expected to rise to a figure of $29.83 midway through the year before going on the rise again and ending the year at $35.20 at an overall annual increase of 110% from the current price.
Polkadot Price Prediction 2024 – 2025
After starting 2024 at $35.20, Polkadot is expected to rise to $38.07 halfway through the year. The second half of 2024 is expected to see the price of Polkadot end the year at a slightly higher price than the first half of 2024 at $41.46. That’s an overall annual increase of 147% on the current price.
In conclusion, Polkadot is efficiently building its unique array of benefits that could potentially make it a competitor to Ethereum in the near future. From scalability and security to increased privacy, it boasts an array of features that make it an appealing investment to many crypto traders.
As a result, Polkadot has done on to see significant returns on investment for those who were patient enough to ride out the bear market. Both the expert analysis and technical analysis agree, we could potentially see Polkadot hit by another bull market soon.
Whilst many people can see the significant potential in Polkadot, there is a significant number of people who are wondering where to invest in this innovative investment for the long term. The answer lies in a reputable and well-established trading exchange with access to vital trading tools like eToro.
Where to buy Polkadot?
Polkadot is available to buy and trade on eToro alongside 18 other cryptocurrencies. This is a well-established, highly regulated, and secure platform that has the potential to revolutionize your crypto trading.
What’s more, is that eToro allows you to access their incredible array of trading tools such as the Stop Loss, Take Profit, and built-in charting software that all let you maximize your potential profits whilst ensuring safe trading practices that protect your hard-earned funds. Also, eToro offers Leverage Trading on Polkadot. This allows you to multiply small amounts to become large powerful positions that drive massive profits.
Overall, the financial situation, risk tolerance, and investment strategy of each person vary. Polkadot is inherently volatile and the price can rise or drop at a moment’s notice, this brings advantages as it does risks. Both of which are important to understand and weigh against your own investment goals and needs. Only invest money you can afford to lose and balance out the risky nature of crypto investment by building a diversified portfolio.
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Disclaimer – This content is for informational purposes only and is not investment advice. The trading of Polkadot and other alternative cryptocurrencies has potential rewards, and it also has potential risks involved. Trading may not be suitable for all people. Anyone wishing to invest should seek his or her own independent financial or professional advice.