Polkadot Price Prediction 2022
Polkadot’s developers are working hard on ensuring that the platform will be able to support a wide variety of transactions, including those involving multiple blockchains. This is a complex task, but if successful, it could make Polkadot the go-to platform for blockchain interoperability.
As more people and organizations begin to use Polkadot, its price is likely to continue to rise. If Polkadot can successfully become the standard for blockchain interoperability, we can expect to see it consistently trade for over $1,000 in the next few years.
What is Polkadot (DOT)?
Polkadot is a new blockchain network that aims to improve the scalability and interoperability of blockchains. It will allow different blockchains to work together, regardless of their underlying design or consensus algorithm. This could help create a more decentralized internet by allowing multiple blockchain networks to be connected through Polkadot.
Polkadot was founded by Gavin Wood, the former co-founder and chief technology officer (CTO) of Ethereum, and his team at Web3 Foundation. The Web3 Foundation is a Swiss non-profit foundation that promotes and funds research and development (R&D) in the field of decentralized technologies. Wood is also the founder of Parity Technologies, a blockchain software company that is behind the development of Polkadot.
The vision for Polkadot is to build a network of blockchains that can interoperate with each other, allowing for the transfer of value and data between them. This would enable a wide range of applications and use cases that are not possible with current blockchain technology.
What makes Polkadot Unique?
Unlike other platforms, it allows developers to create apps that are secure and reliable. Additionally, Polkadot makes it easy for these Dapps to communicate with other, which enables them to work together seamlessly. This increases their overall efficiency and lowers the barriers to entry for developers. As a result, Polkadot is quickly becoming the go-to platform for decentralized application development.
Polkadot also offers a unique governance model that allows for on-chain decision-making by the community. It is also scalable, meaning that it can handle large amounts of traffic without slowing down.
Current Polkadot Price Prediction
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Polkadot price Source: trading view[/caption]
Today Polkadot is down -4.16% with a volume of 6123cr. According to the previous months starting from the 16th of February looking from the bands, volatility has declined to the lower bands, low volatility is a good sign for a rising market. However, this was not the case we tend to see the bulls are not allowing the market to continue with this downtrend. On the 20th of March, we see that price shots are high above the 20 -day average which acts as its support to go to the high levels of the upper band trading at an opening price of $18.78 and a closing price of $20.21.
In addition, looking at the RSI indicator we see the Polkadot has been trading at a neutral level as from the 27th of March not showing any potential movement. Looking at the MACD indicator we see that the signal line and the MACD are moving hand in hand with one another as per the early dates of April still not showing any move of attack. This did not last. We see that as the month is nearing to end the trend is not consistent. On the 18th of April, a crossover occurred whereby the macd line passed above the signal line showing a bullish trend.
Taking a close look at the early prices of Polkadot, the coin is likely to move in a bullish trend.
What do Investors think about Polkadot Price?
According to Coin Bureau, Polkadot is the most popular cryptocurrency among institutional crypto funds despite its poor performance starting from November which has made crypto investors very uncertain about it. The good news is that DOT's circulating supply has not increased by much. Only about$50 a million in addition DOT entered circulation in October. Some of these DOT is said to have come from the web3 foundation. The rest supply is more likely to be gained from staking rewards and selling by early investors. The restriction of supply gives a good opportunity for Polkadot to pump up just with a little bit of demand in the market.
Should You Invest in Polkadot in 2022?
One reason to consider investing in Polkadot is that technology has already gained significant traction and support from the blockchain community. Development by the Web3 Foundation, Polkadot aims to be a” network of blockchain” that can facilitate the flow of data and value across different chains. This vision has resonated with many in the blockchain community, and as a result, Polkadot has attracted a lot of attention and investment.
In conclusion let me just say that nothing in this piece of writing is financial advice but just to educate you on how the market is fairing and keep you on track.