DCR cryptocurrency is no new to the cryptocurrency market (you can find article about it even on Wikipedia, not to mention multiple Reddit threads). However, only at the end of October 2018 Binance decided to list it. It is worth understanding what kind of crypto it is and how much it will cost in 2019 & at the beginning of 2020. Is DCR a profitable investment? Let’s try to analyze.
What is Decred (DCR)?
Decred is a cryptocurrency, the creators of which consider that its main features include attention to community input, open management and stable financial development. A feature of the project is the desire to provide users with the ability to control the blockchain. The network is based on a model of consensus voting of participants, which allows everyone to contribute to the development of the blockchain and makes it completely decentralized.
According to the official website of the project, Decred is a multi-platform digital currency with support for the most popular operating systems. Easy-to-use wallet applications enable sending, receiving, and mining this crypto “with just a few clicks”.
Features of the platform are as follows:
- simultaneous use of proof-of-work (PoW) and proof-of-stake (PoS) consensus algorithms;
- protection from censorship and external influence;
- the operation of online transactions between different cryptocurrencies on different blockchains;
- the ability to use cross-platform wallets.
Decred (DCR) Cryptocurrency, DCR Price Today
DCR Token is a cryptocurrency in Decred blockchain. The main task of the coin is the creation of real competition to existing payment systems, both fiat and cryptocurrency ones. To check its price today, please visit the coin’s page at CoinMarketcap.
The project uses a hybrid consensus, and therefore the mining of the coin has some features. First, classic proof-of-work (PoW) mining is available. Secondly, the consensus proof-of-stake (PoS) allows users to use funds to vote on key network issues and verify transactions, for which they are guaranteed to receive a reward. The above information may help you to make your own DCR price forecast for 2018 and 2019. Our predictions are presented below.
Decred (DCR) Price Forecast
This cryptocurrency is already traded on many well-known exchanges (Bittrex, Upbit, Huobi, Poloniex, OKEx and others). But the news about DCR listing on Binance immediately triggered its growth. Analysis of the history of the price of the coin gives reason to believe that it can be easily pumped. The fact that in May 2018 this cryptocurrency repeated the prices of January 2018 speaks volumes. However, rapid surges were always followed by fast rice declines. It is necessary to take into account all the factors that will influence the price of the token in the near future.
Growth factors are as follows:
- New markets – listing on Binance will give huge trading volumes (Ravencoin is a striking example).
- The popularity of the coin among miners.
- User-friendly wallets.
- The project is not new and has stood the test of time.
Factors that may lead to price fall are as follows:
- Cryptocurrency is considered solely as a means of exchange, payment and accumulation of funds.
- The coin is not stable and reacts sharply to market trends.
Analyzing the above factors, the interest of users in cryptocurrency Decree, as well as the market situation, we can assume that the coin will show good growth, followed by a certain price decline. The current growth is very situational (caused by the listing), which means that it is unlikely that Decred will consolidate at new heights. But this does not mean that the it will depreciate in the future. We will probably see gradual and wave-like growth. We do not take into account short-term pampas when making this forecast. Well, see expected figures in the table below.
|Period||Decred (DCR) Price Predictions 2019-2020|
Disclaimer: The prediction above is solely our opinion based on open facts. You should not consider it as an investment plan or trading guide.
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