Decred Price Prediction 2020: What’s Next?
We always try to make the best possible predictions, and this one is no exception. Today we’re going to do our best at predicting the price of Decred. What’s so special about this coin? Decred is “self-governed”, meaning it is using a mix of consensus protocols, both proof-of-work (PoW) and proof-of-stake (PoS). So it can’t be manipulated easily by a small group of people, because the users are deciding together the future of this coin, but is it enough?
What is Decred (DCR)?
The idea of this project appeared in old 2013, and was made into reality in 2016. The development took 2 years starting from 2014. But immediately DCR faced a lot of bugs and flaws in the system, so a big part of the community, not willing to wait for the coin to come up to the surface, decided to leave the project. So DCR was named unpromising, and it’s hard to wash away such words. The developers, had a tough time during that time because they had to solve a whole lot of troubles every day, in order to actually deliver the promised product.
On April 25, 2017, the first software version was released. And since then people started returning to Decred, and the price started to grow. To be exact, the price started to grow two months before the actual official release. By the first half of 2017, price reached a bit more than $30, that’s almost 6000% growth right there. It continued growing, reaching $129 on January 13, 2018.
A high level of decentralization, a striving to better and more justifull governance led to coin’s popularisation. Proof-of-stake plays a big role here. PoS has 2 uses: first is validating the transactions by users, who do not mine in the usual sense of the word. So everyone can participate in the coin’s life, there is no need to buy pricey equipment to earn DCR. And the second use is decision-making. Users, aka stakeholders, buy tickets with their PoS-earned coins, and with these tickets, aka stakes, they can vote for the future of Decred. Whereas Bitcoin developers have to go and meet each other practically in person in order to discuss further development, Decred devs can do so from any part of the world with an Internet connection. This is a great autonomy.
30% of the reward goes to PoS miners. 60% to PoW miners. And another 10% fee goes to further development of the coin. That’s the foundation for Decred’s good governance. They say that their value is in the people. And it kinda is. PoS also helps the network to be more decentralized, and to scale better. DCR is open-sourced, there’s a total of 21 000 000 coins and half of them is mined. This leads to the conclusion that Decred is a nice crypto for any mining. But still, is all of this enough to be something big and meaningful?
Decred (DCR) history 2018-2019
January of 2018 started promising with $129 for 1 DCR, but those were the times of crypto-boom, which as all of us know - didn’t last long. And the fall began, and by the 1st of April, the price was already as low as $40. That was the bottom, and you can’t go anywhere from the bottom but up. Price started to grow back, and by May 22 DCR was trading at $116, Then again it faced another fall. In December coin’s price dropped to just $14. And that was it. 2018 was disappointing to Decred investors, but so it was to all cryptocurrency market, without exceptions. This coin, on the other hand, was developing, as time went by, and now it has one of the most secure ledgers, and it’s not even privacy-oriented.
2019 wasn’t much better: $33 cap was reached again in summer and today’s price is $17,25. Not really promising, isn’t it?
Decred (DCR) price prediction 2020
Everyone who’s interested in this coin’s life knows that there’s always a lot going on. Atomic Swaps, for example, is an internal exchange project, that’s going to see the light soon. And Lightning Network (LN) is something that may actually separate Decred from its competitors. LN smart-contracts will allow for near-instant micropayments, and this will make DCR a competition for existing fiat payment systems. The adoption of the coin will make it wider available and the price will surely rise and become much more stable. At least, for now, these things are expected.
These factors indicate further growing. Different sources predict the price to become more stable, at the point of $30-$40, so no drops below that. But more bullish $80 growth is also expected. All in all, the future of Decred is bright, everything states that it’s going to stay within the “survivors” team. Upcoming features will make sure that the coin won’t be forgotten.
Decred (DCR) long term prediction
Analyzing all being said, the interest from the community and the market situation, we can suppose that the coin awaits some ups with a bit of downs. This growth will be situative before they implement everything promised, and the value should never depreciate. Mining of Decred can be quite profitable, considering the fact that you can earn tokens both PoW and PoS simultaneously. And there’s even more: you can also mine Ethereum without losing much of hashrate.
Market cap: $180.302.962 USD
Circulating supply: 10.831.085
Total supply: 21.000.000
Despite half of the tokens being already mined, there’s still enough room to have some good profit. But only in case DCR grows a bit in price. And that is just a matter of time here. Good governance, the quickest response to problems, breaches and faults will guarantee that the community won’t abandon the coin, thus, the price shouldn’t drop below the point of today. We are sure that it will go only up. Who knows, someday Decred just might go hand in hand with giants like Bitcoin. There is so much that can happen in five years, just remember what 2015 was like. Do you feel changes?
*This price prediction is based on the data collected from various sources. The information presented in this article should not be considered as any sort of investing advice and the reader should do their own research before taking any actions.