Qtum Price Predictions
It is pretty difficult, but not impossible, to predict the future.
When it comes to financial analysis, there are a few things people use to try and guess what the future trajectory of a stock or piece of property will be. These are well developed sciences and tactics taught in business schools across the nation. Don’t always buy the hype – investing is not gambling and it never is, if it is done right.
And, luckily for cryptocurrency traders, some of these same methods can be applied to the world of crypto. Though innovative and disruptive in many ways, cryptocurrencies still function via market principles and there we can take the insights applied to traditional businesses and markets and gain some knowledge about cryptocurrencies.
But not all of them, and that’s where trading in cryptocurrency becomes its own unique art. It is a mixture of prediction and pure speculation but, make no mistake, underneath each coin lies a technology of some kind that could revolutionize the way commerce is conducted as we know it.
You didn’t think financial analysts paid attention to Bitcoin because it was a fad, did you?
No, it is because there is a real technology underpinning it all and no one knows exactly where this “disruptive” movement will head next.
Of crouse, Bitcoin isn’t the only coin on the market though it does take up a lot of oxygen in the room. Other options, like Qtum, are also out there but are perhaps not as well known to the general public.
As a trader, naturally, you want to know about Qtum, what it is, where it is going, and, most importantly, what its future price will be. One thing we did notice in our research is that the price of Qtum has gone all over the map, so we can understand your initial concerns in this area.
In this article we hope to give you some guidance on just that very topic as well as some useful background information on the cryptocurrency.
Qtum Price Forecasts: Should You Buy Qtum?
Trading is part analysis, part intuition, and part luck - we hope this information helps you limit the effect of the third so that you can rely upon the first two in your trading decisions.
Should you buy Qtum currency? Let’s discuss its merits and whether or not it presents a good option for traders right now. That’s because there are a lot of different currencies out there on the market for you to invest in and Qtum might not be the best investment for everybody. As a dual technology and cryptocurrency play, Qtum also has things impacting its value that others do not have to worry about.
Qtum Price Forecasts: What is Qtum?
Like Bitcoin, Litecoin, and Ethereum, Qtum is a cryptocurrency that is based upon blockchain technology. It can be bought and traded with a value that fluctuates based upon market demand.
Where Qtum differs from other cryptocurrencies is in what it can be used for.
The developers behind Qtum envision it as the basis for massive system of transactions and smart contracts. Qtum even offers the ability for people to customize the cryptocurrency for their own purposes. As such, Qtum is structured to achieve massive scale and support numerous derivatives. Qtum’s ability to underpin smart contracts is seen by many analysts as a true testament to its future value in the marketplace.
Qtum Price Predictions: What are smart contracts?
Smart contracts are basically rules for a transaction. What this means that, when a smart contract is executed, certain steps have to be completed for the contract to execute.
The second attractive aspect of Qtum, the development of bespoke applications for business means that Qtum’s structure supports dApps.
Qtum Price Predictions: What are dApps?
Basically, dApps are decentralized applications that do not require a main server to run and execute. This means that, unlike some cloud-based softwares, dApps do not require a many core to function in order to work. If the decentralized network is up and running, then the dApp should function properly.
Some of the proponents for Qtum champion it as a perfect synthesis of the advantages of Bitcoin and Ethereum. Whether or not this is the case remains to be seen but one thing is sure: Qtum’s adaptability for a range of applications is tough to match.
This untested market ability is what makes predicting Qtum’s price so difficult. Anyone telling you that they can give you a definitive answer as to where this stock is going is not telling you the truth.
Qtum Price Predictions: The Volatility
To give us some idea of where Qtum’s price is heading, we have to look at its past price volatility, current market analysis, and the future of the underlying technology that makes Qtum stand out in a crowded field.
Qtum debuted at a price of $11.94 and quickly shot up to $18.26 shortly thereafter. It achieved highs above $30 last year but has since plummeted to $1.57 as of writing.
For those that aren’t that gifted at math, that’s a huge price fluctuation. One trend that can be written off is that the initial pop might have been due to speculation. So we should probably limit ourselves on the upper end of the spectrum. The range between $10 and $20 seems to be in line with some perceived underlying value while the pop to $106.88 could have been a temporary bubble. The collapse to $1 and some change is probably because the smart contracts and bespoke dApps promised by Qtum have yet to materialize.
With a market cap of $140 million, Qtum is no small player in the field of cryptocurrencies.
Qtum Price Predictions: Where is Qtum Heading?
With such wildly varying numbers where is Qtum headed in the future?
Many analysts predicted a return to sub-$30 values for 2018 but the price has continued to decline. Looking ahead to the future, it is unlikely that it will reach that level and many are adjusting their expectations downward to about $15 for one Qtum - though some think even that is optimistic.
Two pieces of information analysts have looked at in order to examine Qtum’s market penetration on a more granular level are nodes and the number of dApps on the Qtum network. The number of nodes is impressive, with figures rivaling that of Bitcoin, but the dApps paint a disappointing picture. As of press, there are less than 200 dApps for the cryptocurrency made specifically for that. Compare this to the thousands made for Ethereum and you get some idea of the challenges facing Qtum’s upward price movement.
But, again, the number of nodes is not something to discount. These are dedicated members of the community and having a sizable community matters. We’re just wondering if the initial bubble price may have scared off more people and we’re seeing the impact of that in today’s valuation.
Another thing in Qtum’s favor though not something that necessarily points to a price increase in the future is that Qtum’s price has remained stable since its initial pop. Though it hasn’t been very high, it hasn’t exhibited some of the more speculative volatility of other cryptocurrency stocks.
An issue that is also looked at by analysts is convertibility and, here, Qtum is worrying as well. Convertibility refers to a cryptocurrency’s ability to change into fiat currency or another crypto coin. Currently, Qtum is tied to other cryptocurrencies and cannot be exchanged for fiat currency. When we talk about future valuations this is important because the direct exchange of fiat currency for Qtum opens up vast markets for the coin. Without this aspect, those doors are closed and the value has a ceiling on it by necessity.
This doesn’t even take into account the number of competitors Qtum has out there for both its technology and its valuation. As time passes, more and more players are entering the field and Qtum’s once-novel tech becomes increasingly irrelevant. This will have a downward pressure on the coin unless it can break out and truly become one of the mainline coins. But it is also something to be expected. Even the best Wall Street analysts factor in the decreasing return of disruption and begin to look more at things like who is established in the market and who is the most trusted player. Here, Qtum has a lot of room for growth and we expect that it will make a lot of inroads in this area.
After all, so much of what buoys the value of Ethereum, Bitcoin, and Litecoin is their mainstream acceptance on some level. That Qtum is not convertible to fiat currency coupled with its limited applications so far in the market do not bode well for its future.
The best advice we can give traders is to look at the future applications of Qtum’s technology - or the lack thereof. Also, people need to pay attention to convertibility as well as general market chatter about Qtum. The thing that really holds Qtum back is that it is still a largely niche product that is aspiring to serve global needs. We think that the longer it occupies this position the shorter its chances of having a pop in value.
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