In this guide, we will voice our own and market’s opinion on CELO future while discussing Celo price forecast for 2023 and beyond.
Please bear in mind that you should take this and any other prediction with a grain of salt since predicting anything is a thankless task, let alone predicting the future of a novel, highly volatile financial asset like Celo.
Now, let’s head into it. Before we delve deep into the Celo price prediction and answer questions if CELO is a good investment or not, why will CELO succeed or fail or why will Celo price rise or drop, let’s quickly throw a glance at what is CELO and its to date history.
What is CELO?
Celo is a platform acting as a global payment infrastructure for cryptocurrencies that aims to target mobile users.
The crypto protocol dubs itself a mobile-first decentralized finance (DeFi) platform for fast, stable, and secure payments transmission. Through mobile phones, anyone can spend and earn without any limiting requirements. The protocol has been described by an early founder as the ‘WhatsApp of money.’
The Celo blockchain also enables the creation of decentralized applications (dapps) through its proof-of-stake (PoS), EVM-compatible, open-source blockchain. Development teams can easily and quickly build and deploy smart contracts on the Celo blockchain.
Like several PoS protocols, the network’s CELO token is used for network fees and governance-related activities.
CELO is the native asset of the Celo blockchain ecosystem, whose main goal is to introduce the convenience of decentralized finance, or DeFi, to underbanked smartphone users around the world. A utility token that utilizes a proof-of-stake consensus mechanism, CELO is designed to facilitate transactions and governance processes on the platform.
CELO Price Prediction For The Next 90 Days
The whole crypto world is on a verge of a complete breakdown. Bitcoin has fallen 75% from its all-time high amid broader market declines caused by raging inflation and US Fed rate hikes. When add the most recent melt-downs of huge industry players (FTX, Celsius, Luna etc) into the equation, the horizont is murky and there will be more blood on the streets of the crypto town. Investors are selling risky assets and moving into more stable markets. Crypto is still perceived as a very risky play and hence the sell off. Our algo still sees a some green in 2023, especially in the second part of the year. This is reflected in our 2023 predictions. Right now, Bitcoin needs to find a bottom before we can move in the opposite direction and reverse the trend. Once Bitcoin settles in the new price range, altcoins will start to do the same - we have witnessed this scenario dozens of times in the distant and more recent history. Our price prediction model is bearish for the next 90 days with a hint of a bull market at the turn of the quarters from Q1 to Q2. We expect whales and other bigger players in the market to finish filling their bags around that time which will cause a typical and sudden crypto spike. CaptainAltcoin team created a price prediction model with a multi-faceted approach to crypto that takes into account both technical analysis and fundamental assessment of each project. Fundamentals that we evaluate are team, tokenomics, use case, community, marketing efforts, liquidity and exchange availability, hype & speculative potential and some other proprietary factors developed in our crypto lab.
Below is a tabular overview of how will CELO develop in the short-term (for the next 90 days), according to our prediction model:
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Celo Price Prediction 2023
Our prediction model sees a temporary switch to a bear market at the beginning of 2023 before we move onto another leg up in Q3 & Q4 of 2023.
CELO Price Prediction 2025 – 2030 – 2040
Our prediction model sees CELO reaching new highs in 2025:
$ 2.95CELO price in 2030 & 2040 should be a couple of orders of magnitude higher than our 2025 prediction.
Read also:
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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com
