2024-7-20 11:15 |
Nick, in a new video on his YouTube channel, discusses what the HBAR price could be worth by 2025.
The analyst started by talking about the possibility of a crypto market top this year, but if it follows the normal crypto cycle, we could see a peak in 2025.
Focusing on Hedera (HBAR), the all-time chart from CoinMarketCap and TradingView shows significant price movements, including a run-up in May during the BlackRock announcement followed by a market selloff.
The market cap is down 62.74%, and the price is down 87.29% from the all-time high, mainly due to token dilution.
In 2021, HBAR’s token supply doubled from 9.6 billion to over 18 billion, significantly impacting price action. 72% of the supply is now in circulation, reducing the risk of significant future dilution.
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Show more +Show less – Key Levels and Price TargetsThe crypto pointed to a weekly support at around 6 cents. There are also major resistances at 8 cents, 15.5 cents, and 21 cents.
The all-time high needs to be cleared before targeting higher prices like $1 or $2.50.
Based on the Fibonacci Extension Levels, key levels to watch out for are 80–99 cents, $1.44, and $2.50. Most altcoins do not reach the .4618 Fibonacci extension.
Read Also: Alephium (ALPH) Price Pumps 70%, Crypto Analysts Call It ‘Next Kaspa’
Ecosystem and Value PropositionHBAR has expanded its ecosystem with live use cases and major exchange listings. Some examples include Caxy, a decentralized social media application that is live and functional.
Significant enterprise applications like Bank Social and Artrix are revolutionizing their respective spaces. There is over $8 billion in ecosystem market cap and significant growth in tokenized assets.
The Hedera DeFi ecosystem is expanding with major players and new projects. An example is SaucerSwap, a top TVL-grossing application.
New DeFi players focusing on lending and borrowing are expected to enhance the ecosystem. There are also various new initiatives to increase grant transparency and community collaboration.
HBAR Price Predictions and StrategiesBased on the video, a fair valuation for HBAR is between $1.50 and $2.50 by the end of the cycle, potentially reaching these prices if significant ecosystem growth continues. The initial target is to surpass the previous all-time high of 57 cents.
The analyst emphasizes taking profits and de-risking once momentum dies out to avoid losses.
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The post What Will 1,000 Hedera (HBAR) Tokens Be Worth in 2025? appeared first on CaptainAltcoin.
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