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DigibytePrice Prediction 2021 – Will DGB Price Hit $1 ?

Digibyte Price Prediction

The post DigibytePrice Prediction 2021 – Will DGB Price Hit $1 ? appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

In an emerging crypto world, there are plenty of startups searching for a place to get recognized in the market. Many currencies are gaining the  attention of the investors to get established in the crypto space. Digibyte is one of the rapidly growing open source blockchain and asset creation platforms. Do you think that Digibyte …

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In an emerging crypto world, there are plenty of startups searching for a place to get recognized in the market. Many currencies are gaining the  attention of the investors to get established in the crypto space. Digibyte is one of the rapidly growing open source blockchain and asset creation platforms.

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Do you think that Digibyte could reach $1?

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. 

Overview

Cryptocurrency DigiByte
Token DGB
Market Capitalization $37,10,67,954 USD
Circulating Supply 13,93,54,34,194 DGB
All time high $0.1279 (January 07, 2018)
All time low $0.00003099 (January 14, 2015)

What Is DigiByte?

DigiByte is a digital currency 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.

DigiByte Price Analysis 2014-2019

DigiByte entered the market on 6th February 2014 with the opening price of $0.001232. The price started to fluctuate as DGB initiated its trade.

2017

The price continued to remain stable with lesser fluctuations until the end of May 2017 because of the minor improvements in the price DigiByte steadily started to surge. The price reached $0.017 at the end of May. Later on the price dramatically poured to $0.056 by the start of June. The price started to fall and reached $0.019 at the end of June. DigiByte managed to be in the flow as it was traded at $0.017 at the end of July. Later on the price continued to be at the same level with lesser fluctuations for several months. Surprisingly, the price reached $0.008 in the mid of November and further started to surge steadily. At the end of 2017 DigiByte was traded at $0.005.

2018

On a bullish note, DigiByte entered the year 2018 with a spike. It was trading at $0.12 in early January. Later on the price started plunging to reach $0.04 at the end of January. The price managed to trade at the same level until the end of March. Further the price plunged to $0.017 in the start of April and further surged to $0.05 by early May. The price drastically plunged to $0.02 at the end of June further surged to $0.04 at the end of July. Later on the price started to plunge until the end of December 2018. At the end of 2018 DigiByte was traded at $0.010.

2019

As bears started to drag the market, DigiByte commenced the year 2019 with its price $0.010 and further the price fluctuated for several months. The price hit $0.016 by early June and further plunged to $0.008 by the end of August. Later on DigiByte continued to be in the same price range with fewer fluctuations until December. The price arrived at $0.006 by the mid December. At the end of 2019, DigiByte was traded at $0.005.

2020

DigiByte initiated the year 2020 with the same price of $0.05 which was traded at the end of 2019. Digibyte was traded at the range between $0.005 and 0.008 with minor fluctuations until the end of April. Later on the price climbed to hit $0.02 by the first week of May. The price started to plunge further for several months. Later on the price spiked to $0.03 by the mid of August and further started to fluctuate.

The price maintained the range of $0.02 until the mid of November. The altcoin continued to survive at $0.02 as the expansion of Bitcoin price rally at the end of November. The price remained stable with lesser fluctuations. At the end of 2020, DigiByte was traded at $0.024.

DigiByte 2021 Price Prediction

DigiByte continued to trade at $0.02 at the start of January. It might reach $0.04 by the mid of July with certain fluctuations. Later on the price may start to climb for several months and DigiByte might trade at $0.10.

DigiByte Price Prediction 2022

DigiByte might trade at $0.12 by the start of January and could reach $0.2 by the end of January. The price might plunge with certain fluctuations. The price may touch $0.35 by the mid of August and may continue the same trend for several months. By the end of 2022, DigiByte might trade at $0.55.

DigiByte Price Prediction (Next 5 Years)

In 5 years, Digibyte may provide a seamless and user friendly platform for the transactions and might enhance the security of the users. By the end of 5 years DigiByte might break its price records and could reach the high price of $1.

DigiByte Market Prediction

There are plenty of predictors available in the market. Let us check some of the important marketers’ views on DigiByte.

WalletInvestor

According to WalletInvestor, a crypto forecasting website, DGB can be a good profitable investment, if any one is looking to invest in virtual currencies. A long term increase is expected if anyone starts to invest in it.

CoinFan

CoinFan believes that DGB price will slowly increase throughout 2021, ending the year at $0.242.

CryptoGunter

According to CryptoGunter, Digibyte’s price will increase to $20 by the year 2020. If this did not happen, it would give DGB coin a market capitalization of $220 billion which would make DGB a most valuable cryptocurrency in the industry.

Our DigiByte Price Prediction

DigiByte commenced the year with $0.02. As per our analysis the price might reach an average of 0.035 by the end of January. The price might continue the same range and might trade at $0.10 by the end of 2021. Digibyte might be a good investment for the long term. It’s price may reach $1.75 in the future.

FAQ

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 fact, this is due to several parts of crypto technology (like the DigiShield or its 5 mining algorithms) that the project developed and implemented.

What is the price of Digibyte at the moment?

At the moment, DGB is trading at $0.026

When did DGB reach its All Time High?

In January 2018, the DigiByte had reached a historic high of $0.13 per coin.

Where To Buy DigiByte?

DigiByte can be bought in the various crypto exchanges like Binance, Bittrex, OKEx, VCC Exchange and many more.

Source: https://coinpedia.org/price-prediction/digibyte-price-prediction/

Blockchain

Bitcoin Falls Below $1 Trillion Market Cap Following Bloody Week: The Crypto Weekly Recap

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This week saw a serious correction in the total cryptocurrency market. This has resulted in Bitcoin falling below the $1 trillion market cap level. The price corrected by more than 20% at one point as it lost around $13,000 from the recent all-time high before correcting to where it currently trades at around $48K.

In all fairness, Bitcoin’s downturn followed that of the entire legacy market. As we reported earlier, NASDAQ saw the biggest slump since October last year as government bond yields gave the market a jolt, and investors favor companies that would benefit from a broader economic recovery throughout the rest of the year.

In any case, the correlation between the traditional financial markets in the face of some of the largest indices, such as the NASDAQ Composite and the S&P 500, is more than evident. Nevertheless, the cryptocurrency market, in general, took a beating over the last week as it saw more than $300 billion wiped off its capitalization.

Not every coin is in the red, though. Cardano’s ADA doesn’t seem to care much about the rest of the market and continues to increase. It managed to overtake Tether’s USDT stablecoin and became the third-largest cryptocurrency by means of market capitalization. Interestingly enough, a large Dubai-based investment fund said that it would sell $750 million in Bitcoin to buy more ADA and Polkadot’s DOT.

To no one’s surprise, MicroStrategy continues to buy Bitcoin at an accelerated rate. The company announced yet another $1 billion BTC buy this week which came after the convertible senior notes offering.

In any case, it might be the case that the recent correction was a healthy one. The truth is that this bull run had almost no serious corrections on the way up, and it’s entirely natural for investors to take profit. In addition to that, the market was overly leveraged, which caused a cascading effect of long liquidations on the way down, adding more fuel to the fire.

Let’s hope that the worst is over, and let’s see what the next week has in store!

Market Data

Market Cap: $1494B | 24H Vol: 233B | BTC Dominance: 59.6%

BTC: $47,820 (-7.8%) | ETH: $1,525 (-21.3%) | XRP: $0.442 (-17.1%)

3 Possible Reasons Why Bitcoin Plunged Over 15% in 24 Hours. Bitcoin dipped by more than 15 in less than 24 hours and took the entire market down with it. With this in mind, we take a look at three of the possible reasons for the most recent downturn in the market, which resulted in the loss of more than $300 billion in its capitalization.

The Laser Eyes Meme: Not a Coincidence That This Marked a Local Top for Bitcoin (Opinion). The laser eye meme on Twitter is spreading like wildfire as some of the most prominent crypto proponents and people outside of the industry change their profile pictures to include the beams. This might have been one of the signals that the market is in a state of euphoria.

Crypto Investment Fund to Sell $750M in Bitcoin for Cardano and Polkadot. A Dubai-based cryptocurrency investment fund that has more than $1 billion of assets under management (AUM) thinks that the value of Polkadot and Cardano will be higher than that of BTC in the years to come. It has announced that it will sell $750 million of its BTC to buy more ADA and DOT.

JP Morgan: Put 1% In Bitcoin as a Hedge as Demand is ‘Massively Outstripping’ Supply. JP Morgan has supported the narrative that investors should allocate 1% of their portfolio in BTC as a hedge. This was asserted by strategists of the multinational investment bank as more and more people seem to add fuel to the merit that bitcoin could protect assets against the inflating fiat currencies.

Someone Just Moved 100 Bitcoins Now Worth $5M That Only Cost $8 in 2010. An early bitcoin adopter who has mined 100 BTC back in 2010, which then had a face value of no more than $8, has moved them for the first time in over 11 years. Currently, the bitcoins are worth around $5 million.

MicroStrategy Completes Another $1 Billion Bitcoin Buy. MicroStrategy, the company, spearheaded by one of Bitcoin’s most vocal proponents, Michael Saylor, has bought another $1 billion worth of the cryptocurrency. This comes shortly after they conducted a convertible senior note offering to raise the money.

Charts

This week we have a chart analysis of Bitcoin, Ethereum, Ripple, Polkadot, and Chainlink – click here for the full price analysis.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


Source: https://cryptopotato.com/bitcoin-falls-below-1-trillion-market-cap-following-bloody-week-the-crypto-weekly-recap/

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Galaxy Digital co-president explains two things deterring institutional crypto buying

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In recent months, companies such as MicroStrategy and Tesla have picked up sizable positions in Bitcoin. This trend has not yet become the norm for most companies, however. Damien Vanderwilt, co-president of Galaxy Digital, believes security and taxes may be acting as deterrents for crypto investing. 

“When we think about the conversations we have with corporates, and institutional clients, and any part of those constituencies considering investing in the sector, the first order problem is safety and are the assets that they’re buying going to be safe and available and secure,” Vanderwilt told Bloomberg in an interview on Thursday.

“The second order problem, particularly for the corporates, is tax treatment and the way that particularly under gaap accounting in the U.S., Bitcoin is viewed as an intangible asset,” he added.

The Bloomberg interviewer noted that “5% of finance executives” are considering Bitcoin purchases. This 5% figure came from a report recently published by research firm Gartner, detailing February survey results from 77 finance executives. “Just 5% of Finance Executives Polled in February 2021 Said They Planned to Hold Bitcoin as a Corporate Asset in 2021,” said a Feb. 16 public statement from Gartner on the report.

MicroStrategy, MassMutual, Tesla and Square have all allocated millions of dollars to Bitcoin. MicroStrategy spent more than $1 billion on the asset, and put an additional billion into BTC recently. Square also recently announced adding $170 million worth of Bitcoin to its stack. The firm spent $50 million on the coin last fall.

“They’re not unsolvable problems or things that companies can’t get comfortable with, but it does take a little bit of time,” Vanderwilt said of the two issues he mentioned.

Source: https://cointelegraph.com/news/galaxy-digital-co-president-explains-two-things-deterring-institutional-crypto-buying

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Blockchain

Price analysis 2/26: BTC, ETH, ADA, BNB, DOT, XRP, LTC, LINK, BCH, XLM

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Every bull market witnesses periodic pullbacks, where the weaker hands sell anticipating a top and the stronger hands accumulate for the long term. Data from Coinbase Pro shows two large Bitcoin (BTC) outflows this week, suggesting that institutions are likely continueing to buy the current dip.

Comparing historical data, on-chain analytics resource Whalemap, recently said that previous macro tops in Bitcoin in 2017 and 2019 coincided with thousands of large Bitcoin transactions worth $5-7 million. However, the researchers believe there is “no such FOMO in sight for BTC.”

Daily cryptocurrency market performance. Source: Coin360

JPMorgan strategists Joyce Chang and Amy Ho recently endorsed a 1% allocation to Bitcoin in multi-asset portfolios “to achieve any efficiency gain in the overall risk-adjusted returns of the portfolio.”

With gold and the S&P500 both seeing a downturn in the short term, investors looking to hedge their portfolios may look for alternatives such as cryptocurrencie, which may limit the downside for Bitcoin.

While data suggests that the downside is limited, let’s analyze the charts of the top-10 cryptocurrencies to determine where buyers may step in.

BTC/USD

There is a tug of war currently going on between the bulls and the bears. The bulls attempted to resume the up-move on Feb. 25, but could not sustain the higher levels. Bitcoin reversed direction and broke below the 20-day exponential moving average ($48,159), which shows selling by the bears at higher levels.

BTC/USDT daily chart. Source: TradingView

However, the long tail on today’s candlestick shows that bears are not able to sustain the price below the 20-day EMA. This suggests traders are buying on dips.

The flat 20-day EMA and the relative strength index (RSI) near the midpoint suggest a possible consolidation in the near term. The support of the said range could be at $41,959.63, which is just above the 50-day simple moving average ($40,914).

If bears can sink the price below the 50-day SMA, the selling could intensify and the pair could even drop to $28,850.

Conversely, if the bulls can propel the price above $52,040.95, a retest of $58,341.03 may be on the cards.

ETH/USD

Ether (ETH) could not rise above the 20-day EMA ($1,686) on Feb. 24, which suggests the bears are defending this level. The biggest altcoin turned south on Feb. 25 and fell to the 50-day SMA ($1,498).

ETH/USDT daily chart. Source: TradingView

Although the price dipped below the 50-day SMA today, the bears could not break the Feb. 23 intraday low at $1,350. This shows a lack of selling pressure at lower levels.

The bulls have pushed the price back above the 50-day SMA. If they can sustain the momentum and propel the ETH/USD pair above the 20-day EMA, it could enhance the prospects of retesting $2,000.

On the other hand, if the price again turns down from the 20-day EMA, it will suggest a change in sentiment from buying the dips to selling the rallies. If the bears break the $1,350 support, the pair may drop to $1,000.

ADA/USD

Cardano (ADA) is in a strong uptrend and has broken into the top-three cryptocurrencies by market capitalization for the first time. The bulls attempted to push the price above $1.20 on Feb. 25 but failed. However, the bulls successfully flipped $0.9817712 to support today, which suggests aggressive buying on every minor dip.

ADA/USDT daily chart. Source: TradingView

The buyers have driven the price above the $1.20 overhead resistance, indicating the resumption of the uptrend. The altcoin could now rally to the next target objective at $1.25.

Both moving averages are sloping up and the RSI in the overbought territory, suggesting that bulls are in control.

This bullish view will be invalidated if the ADA/USD pair fails to sustain the breakout and sharply reverses direction, breaking below the 20-day EMA ($0.92).

BNB/USD

The failure of the bulls to push Binance Coin (BNB) above the downtrend line on Feb. 24 may have attracted another bout of profit-booking by traders. The altcoin has pared most of the gains made on Feb. 19.

BNB/USDT daily chart. Source: TradingView

If the current rebound sustains, the bulls will make one more attempt to push the price above the downtrend line. If they succeed, it will suggest that the short-term correction could be over. The BNB/USD pair may then rise to $300 and then to $348.6969.

The upsloping 20-day EMA ($192) and the RSI in the positive zone suggest bulls have the upper hand. Falling below the downtrend line and the 20-day EMA would invalidate this bullish scenario. Such a move could pull the price down to $118.

DOT/USD

Polkadot’s (DOT) sharp recovery on Feb. 23 faltered on Feb. 24 as the bulls could not push and sustain the price above the resistance line of the ascending channel. This may have attracted profit-booking from the dipbuyers.

DOT/USDT daily chart. Source: TradingView

The buyers are currently attempting to defend the 20-day EMA ($30.30). If they manage to sustain the bounce, the DOT/USD pair will again try to break out of the resistance line of the channel and retest the all-time high at $42.2848.

Conversely, if the pair again goes down below the resistance line of the channel, the bears will try to sink the price under the 20-day EMA. If they succeed, the pair may drop to the support line of the channel.

The 20-day EMA is gradually sloping up and the RSI is above 61, indicating a minor advantage to the bulls.

XRP/USD

The long tail on the Feb. 23 candlestick shows buying on dips, but the bulls could not keep up the momentum and push XRP price above the 20-day EMA ($0.048) on Feb. 24. This showed that demand dried up at higher levels.

XRP/USDT daily chart. Source: TradingView

The price has again dipped back to the 50-day SMA ($0.40). A lack of a strong rebound could attract further selling and the XRP/USD pair may drop to $0.359. A break below this support could clear the path for a fall toward $0.25.

Contrary to this assumption, if the pair sustains the current bounce, the bulls will make one more attempt to push the price above the $0.50 overhead resistance. If they succeed, the pair may consolidate between $0.65 and $0.359 for a few days.

LTC/USD

Litecoin (LTC) rallied above the 20-day EMA ($192) on Feb. 25, but the bulls failed to sustain the higher levels as seen from the long wick on the day’s candlestick. This suggests that traders are booking profits at higher levels.

LTC/USDT daily chart. Source: TradingView

However, the long tail on today’s candlestick suggests that bulls are buying the dips to the 50-day SMA ($166). If the bulls can push the price above the 20-day EMA and the $205.186 overhead resistance zone, the LINK/USD pair may rise to $230.

Contrary to this assumption, if the bulls fail to sustain the current rebound, the pair may U-turn and drop below the 50-day SMA and the uptrend line. If that happens, the pair may slide to $120.

LINK/USD

Chainlink (LINK) could not climb back into the ascending channel on Feb. 24, attracting profit-booking from the aggressive bulls who may have purchased the dip on Feb. 23. The altcoin turned down on Feb. 25 and dipped back to the 50-day SMA ($24.70) today.

LINK/USDT daily chart. Source: TradingView

The downsloping 20-day EMA ($28.80) and the RSI in the negative zone suggest bears have the upper hand. If the price slips below the 50-day SMA, the decline could extend to the critical support at $20.111.

Contrary to this assumption, if the current rebound off the 50-day SMA sustains, the bulls will make one more attempt to push the price above the 20-day EMA. If they succeed, the LINK/USD pair may begin a new uptrend.

BCH/USD

The relief rally in Bitcoin Cash (BCH) could not even rise to the 20-day EMA ($578) on Feb. 24 and 25, indicating a lack of urgency among the bulls to buy at these levels. The price turned down on Feb. 25 and dropped to the uptrend line.

BCH/USD daily chart. Source: TradingView

The downsloping 20-day EMA and the RSI in the negative zone suggest bears are in control. If the sellers sink the price below the uptrend line, the BCH/USD could start a deeper correction to $370.

On the contrary, if the bulls can build up on the current rebound off the uptrend line, the pair may rise to the 20-day EMA. A breakout of this resistance could push BCH price to $631.71.

XLM/USD

Stellar Lumens (XLM) could not rise above the 20-day EMA ($0.430) on Feb. 24 and 25, which shows the bears are selling on rallies to this resistance. The altcoin pulled back on Feb. 25 and fell to the critical support level at $0.35.

XLM/USDT daily chart. Source: TradingView

The downsloping 20-day EMA and the RSI in the negative territory suggest advantage to the bears. If the sellers can sink the price below the support line of the descending channel, the XLM/USD pair may decline to $0.23.

Conversely, if the bulls can sustain the current rebound off $0.35, the pair may rise to the 20-day EMA. A breakout of this resistance will suggest the bulls are back in the game. The pair could then rally to the resistance line of the channel.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

Source: https://cointelegraph.com/news/price-analysis-2-26-btc-eth-ada-bnb-dot-xrp-ltc-link-bch-xlm

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