As the world progresses, people are hopeful that the playing field will become more level. Then, CELO comes as a platform that claims conditions for prosperity for everyone. Keep reading this blog post to understand whether this CELO Price Prediction will make the cryptocurrency a good investment.
What is CELO?
Celo (CELO) is a cryptocurrency launched in April 2022 by the Celo Foundation, a US-based non-profit organization. It is a DeFi project aiming to enhance the user experience when accessing and transferring cryptocurrency. Its independent-running blockchain was mainly designed to operate on smartphones.
The term Celo is an Esperanto word that means “purpose.” Similarly, the company is driven by the purpose of creating a prosperous future. To achieve a sustainable and stable financial system for all, the Celo Community tenets build upon the following aspects:
- Envision a world where entrepreneurs and innovators transform regional economies;
- Advance local economies to restore the earth’s ecosystems; and
- Create products that generate opportunities for prosperity for everybody
This cryptocurrency supports stablecoins such as cUSD and cEUR. Additionally, its Celo wallet enables users to use phone numbers to replace their accounts. So, they maximize texting their recipient’s phone number whenever they transfer funds.
Price Prediction for 2022
Before we dig into details, it’s crucial to note that CELO’s prospective worth might be challenging to estimate, given how young this cryptocurrency is. However, we have gathered popular CELO forecasts from reliable price projections beginning in 2022. Before that, let’s briefly recap how CELO was doing last year.
In 2021, CELO experienced a surge in the year’s second half. This sudden increase was believed to be caused by advertising on major currency exchanges, such as Coinbase Pro or Binance.
With this, market experts believe it would experience a 2 to 3x price growth by 2022, especially when it announced its acquisition of ImmortalDAO as its first decentralized reserve currency protocol.
So, did CELO achieve its price prediction for 2022?
In the records of Blockchain Reporter, CELO did not have a great start, and its price plummeted due to the unfavorable effects brought about by the COVID-19 pandemic and the Russia-Ukraine conflict. The cryptocurrency dropped to $2.7 (from $4.85 in December 2021) in the year’s first quarter. Although it rose to $5.20 the following month, CELO couldn’t keep up and continued to dwindle, leading to experts’ predictions that by the end of 2022, the most it can achieve is $0.90.
Bearish Price
Market analysts concur that, based on the reasons stated prior, there is a chance that CELO may have a bearish momentum as the end of the year approaches. They estimate this year’s possible low price would be $0.672, which would also be its all-time low since it was publicly released.
Bullish Price
Regarding CELO’s year-end price forecast, several experts and traders remain optimistic. Its bullish price could reach up to $0.919 in December.
Average Price
For 2022, the average price of CELO is predicted to be about $0.792. The prediction is in line with its total supply amounting to 1,000,000,000 and a circulating supply of 473,376,178 CELO as of November.
Predictions from Other Sources
Below are other CELO forecasts from some of the most reliable sources:
Wallet Investor
As forecasted by Wallet Investor, CELO has been fluctuating all year, implying that its rise and fall are not really far apart. They predicted that by the third week of November, the minimum price would be $0.6650, its maximum would be $0.7089, and the average would be $0.687. The platform sees it as a negative trend, making this cryptocurrency a not recommendable investment for making money.
TradingBeasts
As for the data released by TradingBeasts, they have high hopes for CELO. At the beginning of December, the platform anticipates CELO’s price to hit $1.0224139. Meanwhile, they expect the minimum price to be $0.8690518 and its maximum price to be $1.2780174, with the prediction that it’ll become $1.0224139 by the end of the month.
PricePrediction.net
The PricePrediction.net analysis foresees that CELO’s minimum price would end at $0.72, while its maximum price could reach $0.80. They predicted that the average price for CELO is $0.75. PricePrediction.net advises you to think carefully about whether or not this cryptocurrency would be worth the investment.
Price Prediction for 2023 – 2025
CELO Price Prediction 2023
Market analysts predict that CELO will experience price growth by 2023. It’s anticipated that it will reach an average price of $1.10. The lowest price expected is $1.06, and the highest might get $1.25.
CELO Price Prediction 2024
The following year would be another moment of growth for CELO, as the experts have predicted its average price to be $1.56. It might be lower at $1.52 or reach its maximum price of $1.85.
CELO Price Prediction 2025
By 2025, analysts have predicted that CELO’s minimum price could be $2.19, with an average price amounting to $2.25. If all goes well, it might surge up to $2.61.
Price Prediction for 2026 – 2030
CELO Price Prediction 2026
Following Celo Foundation’s prosperity for everyone mantra, the experts’ price prediction for CELO is that its value could achieve a minimum price of $3.09 and a maximum price of $3.78 by 2026. Its average price would be $3.20.
CELO Price Prediction 2027
By 2027, CELO’s value could reach a minimum of $4.67, and its highest price for the year could be $5.43. Similarly, the average price for the cryptocurrency will be $4.79.
CELO Price Prediction 2028
As CELO continues its growth and progress plans, there’s a probability that its value could reach the lowest price of $6.79 and the highest might reach $8.20. Either way, the average price is expected to stand at $7.03.
CELO Price Prediction 2029
We get to the initiative of creating more opportunities for prosperity as its highest price could reach $12.10, and the lowest is at $10.17. The average price is predicted to be $10.52.
CELO Price Prediction 2030
In 2030, market analysts expect to outgrow CELO’s all-time high record of $10.66 in August 2021. By this, they foresee that the minimum price of the cryptocurrency will be $14.46, and its maximum price is at a whopping $17.46, with an average price of $14.99.
FAQs
Is CELO a good investment?
The answer would vary on your need. Market analysts advise that if you’re looking for a short-term investment, CELO might be for you; otherwise, try to exclude it from your portfolio. However, following its price forecasts is the best way to identify if CELO is a good investment.
If you are a long-term holder, and you think that CELO will be a good investment, we highly recommend you choose top DeFi wallets to protect your investment rather than an exchange’s wallet.
Will CELO crypto go up?
The Celo Foundation is currently working on how it could increase the market value of CELO. One of these developments is the Validator Elections to encourage decentralization and seek to transform voter choices into representation, among others. This initiative is one of the reasons why traders and experts believe that CELO will eventually go up in the succeeding years.
Why did CELO crypto go up?
Back in 2021, it was explained that CELO surged because large markets advertised it. Recently, the amount of CELO trades has gradually increased after its downfall. This time, the increase in CELO’s value indicates the rise in demand among cryptocurrency traders.
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