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With market-driven volatility, it is vital to keep track of price movements to predict the following probable prices of your favorite cryptocurrency. The XYO prices depend on the underlying utility of their native ecosystem, the XYO network, and the general market sentiments towards XYO network price.
Since XYO offers resources to educate individuals, developers, and enterprises, those excited about the possibilities of a location-based data network built on shared incentives might find the network interesting. Here’s a little backgrounder on determining the XYO value.
Table of Contents HIDE
1. How to determine XYO investment decisions
2. What is XYO?
3. XYO price history and technical analysis
4. Pros and Cons of investing in XYO
5. Market prediction for XYO 2021
6. XYO price prediction from Wallet Investor
7. Cryptopolitan’s verdict on XYO
How to determine XYO investment decisions
XYO price prediction is essential in determining investment decisions. It is often difficult for investors to make profitable investments within the cryptocurrency space due to the complexities of the cryptocurrency price forecast system. However, Cryptopolitan carefully analyzes the price charts of cryptocurrencies and forecasts the future prices of these tokens with diligence.
A good investment requires extensive research of price actions to determine the investment’s future viability. The XYO digital coin price has been bullish over the past 24 hours, and the token is rightly positioning itself as a profitable investment for the long term.
The XYO Network is governed by its native virtual currency, XYO, which facilitates the execution of the smart contracts within the platform, which is at the forefront of blockchain innovation and smart contracts.
Based on the current price data of XYO on the crypto exchanges, it is evident that the token will continue to be bullish as per the XYO network price prediction. The ERC-721 token on the XYO world platform, under the XYO project, provides a solution that validates geospatial data and location data.
Image Courtesy of Trading Beasts
What is XYO?
XYO’s worth is determined by the successes of the XYO project that seeks to provide geospatial solutions. The relatively new project allows XYO tokens to be traded and staked against other unique ERC-721 tokens; representing real-world locations.
The XYO tokens have experienced a relatively rocky growth performance, with the XYO Network ROI dipping to -68.4%. It has ranked at #185 by Coingecko with a market cap of $521,159,641 and a Volume to Market cap ratio of 0.424.
The XYO cryptocurrency recorded an all-time high price of $0.056784 on September 11th, owing to its impressive bullish momentum. Similarly, the token recorded an all-time low price of $0.00009672 over a year ago, on March 13th, 2020.
Considering the current price, the token has dropped -25.1% from its ATH and gained 43868.1% from its all-time low.
XYO price history and technical analysis
XYO network predictions have been massively dependent on its historical price and information derived from technical indicators since its launch. Since it started trading, technical and fundamental analysis of its price action is essential in determining its future price target.
Cryptocurrency analysts, for instance, depend highly on a tokens price action to determine its future direction. Based on the available data, XYO token price is currently experiencing an upward trend – meaning it is bullish at the moment within the last 24 hours.
As of today, XYO cryptocurrency is trading at an average price of 0.041854 USD. The trading volume of the cryptocurrency within the last 24 hrs stands at 208,473,606 USD. However, the is no live data available for its maximum supply, but it has a circulating supply of 12,844,821,266 XYO coins.
According to CoinMarket Cap, the XYO cryptocurrency has been trending, and in the last 24 hours, it has recorded a 46.24% increase in XYO price.
When the XYO coin was introduced, it experienced a slight increase in price before it dipped with the same intensity; this stabilized the price for a while as it established its support level and resistance levels.
By the beginning of 2021, the token’s price had a strong bullish momentum that could easily be attributed to the overall bull run in the crypto market during the first quarter of 2021.
By March, there was an overall Fear, Uncertainty, and Doubt (FUD) in the crypto markets that led to an impressive bearish run that even saw Bitcoin trade at below $30,000.However, this did not affect the XYO network significantly.
During the bull run, the token recorded high prices of up to $0.056784, the ATH, and was recorded about 2 months ago, on September 11th.
Since then, the cryptocurrency token has experienced an impressive upward trend and downward, moving up to the $0.032 mark and back to the $0.02 mark. Today the XYO coin is trading at $0.04458 and has established a strong support and resistance level.
Pros and Cons of investing in XYO
In their entirety, all investments must have some level of risk; otherwise, there would not be any return on investments. Ideally, investors are rewarded based on the amount of risk they take.
However, this does not directly translate to the higher the risk, the higher the return. Otherwise, many investors would always go for high-risk investments.
Instead, if successful, high-risk investments always have high potential returns, as well as losses. Due to the possibility of making significant losses, most people often choose to manage their risks through risk diversification, a form of risk management.
In cryptocurrency, however, it becomes even more complex compared to other conventional investment vehicles. Below are some of the advantages and disadvantages of investing in XYO coin.
Pros of investing in XYO cryptocurrency
- According to analysts, the XYO coin price forecast is a promising cryptocurrency since its trading price is most likely to continue growing. Therefore, investing in XYO coins allows you to benefit from price appreciation while enjoying the benefits of blockchain technology. More like the best of two worlds.
- Investing in tokens such as XYO can allow those interested in the crypto market to make investments benefit from future price gains as anticipated by XYO price predictions.
- Analysts’ earnings estimates for XYO coin indicate that if the market continues with the same trend, all external factors kept constant, there will be a price rise, in the long run, making money for investors.
Cons of investing in XYO cryptocurrency
- Not all analysts predict the same future for XYO coin. Others are skeptical about XYO’s price, indicating an imminent fall. In this case, those who take the risk will lose money on their investment account.
Market prediction for XYO 2021
XYO coin price has experienced a rollercoaster in the 2021 period, and since the year is coming to an end, there is little to be forecasted about this token.
However, short-term traders can benefit from these estimates that our analysts have put together for the rest of the year.
Our analysts predict that the XYO digital coin price will be trading at a minimum price of $0.04 and a maximum of $0.06 in November 2021. On average, the cryptocurrency will be trading at $0.051 in November.
In December 2021, the forecast indicates that short-term traders can benefit from buying and holding within this period. XYO is forecasted to record a maximum price of $0.0644 and a minimum price of $0.0437. Based on these figures, the average predicted price of XYO is $0.0515, which is a good increase for the short term.
XYO price prediction from Wallet Investor
Image Courtesy of Wallet Investor
According to Wallet Investor, investing in XYO coins is an outstanding long-term investment decision. Their forecasts indicate that the price of XYO coins will continue to rally high over the years.
Maintaining their reputation for bold price predictions, Wallet Investor mentions that within one year, the XYO coin price will rise to $0.0666, which is a significant difference from the current price of XYO.
Based on their analysis of the previous 30-day price action, the cryptocurrency is bullish, and they advise cryptocurrency traders to buy XYO tokens and hold them for the long term.
By the end of 2021, they expect the XYO coin to record a minimum value of $0.0315 and a maximum value of $0.0390. The average value of the cryptocurrency, according to the forecast, is $0.0351, which is a reduction from the current price.
Cryptopolitan’s verdict on XYO
Cryptopolitan considers XYO a relatively stable investment. There is an excellent potential for XYO in the future, but that will depend on how so many things play out, such as how governments and regulations deal with the project. Also, the XYO network provides a real solution to the world through its elaborate process of collecting and validating geospatial data.
Therefore based on these uncertainties and the relatively bullish forecasted trend of the XYO coin, it is wiser for investors to add this coin to their watchlists and their crypto portfolio. However, this should not be considered as financial advice.
XYO price forecast for 2022
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Considering the forecasts by cryptocurrency analysts, XYO coin price predictions indicate that it is likely to move upwards with a slow momentum.
By 2022, if the XYO coin continues to maintain the general upward trend, it is expected to record a high price of $ 0.0719584 and a low price of $0.0489317. The average expected price for this cryptocurrency is $0.0575667.
XYO price forecast for 2023
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In 2023, the XYO coin forecast indicated that the token would appreciate higher price levels of $0.0829276, while the least possible price according to this forecast is $0.0563907.
The average price of the token is forecasted to be $0.0663420.
XYO price forecast for 2024
Image courtesy of Trading Beasts
In 2024, the XYO token price is expected to continue increasing in value, according to cryptocurrency analysts. Most cryptocurrencies tend to increase their trading value with time.
Those who buy the cryptocurrency in 2021 should expect the token to rise to $0.0949360 as the highest possible value. Similarly, considering a relatively slow growth, the token could record a minimum growth of $0.0645565. The average expected price for the token in 2024 is $0.0759488.
XYO coin has relatively low volatility compared to other conventional cryptocurrencies. However, the XYO Network is a new concept that seeks to simplify one aspect of geospatial data.
There are limitations associated with speculative cryptocurrencies like the XYO coin. For some, it presents an opportunity to cash in big in the long term.
Therefore it is important to do further research on XYO before investing in it since it aims to disrupt an industry that is relatively new to blockchain technology. The token is currently ranked in the top 150 cryptocurrencies by market cap. The rankings show the token is stable and can experience even more price increases in the future.
Is XYO a safe investment in 2021?
No investment is entirely safe; however, XYO coin appears to bear more risks than other mainstream cryptocurrencies like Etherum and Bitcoin. Therefore, investors are advised to do more research before investing their hard-earned funds in XYO coins. However, based on XYO price predictions, the token is poised to increase in value significantly.
What are the risks of investing in XYO crypto?
There are several risks associated with XYO coin. For instance, geospatial-related blockchain projects are not widely popular; the concept is new and unfamiliar among several crypto enthusiasts; therefore, investors may lose their earnings, according to some crypto analysts.
Where can I buy XYO cryptocurrency?
At the moment, XYO tokens are available on many cryptocurrency exchange platforms. You can buy XYO coins on Coinbase Exchange, Gate.io, KuCoin, HitBTC, and ZT.
Should I invest in XYO coin?
A short answer would be, maybe. XYO network is still a relatively new concept, and investing in new technologies requires in-depth knowledge of the cryptocurrency and understanding the team behind it.
Since the technology is new, it exposes investors to a considerable risk that isn’t desirable to new investors; however, when an investor performs their research and gain significant confidence in the project, one can invest.
Is XYO coin profitable for short-term investors?
The token seems to be a reasonably good option for short-term investors based on the current price forecasts. There are significant changes forecasted for it its price points in 2021 and 2022.
Since the token s currently trending on exchange platforms and records impressive price changes of +40 to +50%, it provides an excellent opportunity for short-term traders.
Should I buy and hold XYO for the long term?
There isn’t a straightforward answer as to whether XYO coin is a good investment for the long term. Analysts have mixed reports about the future of the crypto price. Although the price could go in any direction, investors are generally advised to watch the token for a more extended period before investing. Still, they could undoubtedly make profits during the short-term trend.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.