Reddcoin (RDD) Price Prediction 2019 – Dreary Prospects for the Fading Project (Late April Update)

Late April Update: Technicals

RDDBTC daily chart looks grim – RDD is stuck in a horizontal, trendless channel, moving between 31 and 35 sats on meager volume. The coin just looks like it has no life in it and this levitation around the 30 sats zone seems to be Reddcoin’s motto of 2019.

Trading volume is miserably scanty – reported volume in the last 24hrs is $1.4m and “Real 10” (trading volume on the exchanges that provably prevent wash trading) volume is only $99k. This means that RDD’s liquidity is inflated and overstated by almost 15x which means that its already low reported liquidity is even lower in reality.

Moreover, RDD comparatively has an okayish buy support, according to coinmarketbook.cc. Buy support is measuring sum of buy orders at 10% distance from the highest bid price. This way we can eliminate fake buy walls and whale manipulation and see the real interest of the market in a certain coin. RDD currently has a laughable and negligible $375k of buy orders measured with this method, which sets RDD buy support/market cap ratio at 0.80%, an above average value. Bitcoin and Ethereum have a 0.27% and 0.28% ratios, respectively. This novel metric indicates there are a lot of manipulations, inflated liquidity and fake orders on all crypto trading pairs, including RDD pairs.

Late April Update: Fundamentals

  • Nothing to list here as nothing is happening around this project.

Below is our long-term forecast where we cover general market movements and sentiment shifts before delving deeper into the specific predictions for RDD.

Reddcoin Intro

ReddCoin is a “social currency” that gives holders the ability to reward creators of content on social media platforms like Twitter and Reddit with RDD coins. Volunteer developers are reportedly targeting other high-profile social media sites including Facebook. It boasts features like linking a Redd ID to other social networks, sending tips with one click via the Google Play Store and more.

However, this project doesn’t want to create its own social network but rather wants to integrate itself into already existing platforms like Facebook, YouTube, Instagram etc. Basically, with ReddCoin people can, instead of let’s say liking someone’s post, deliver them their daily dose of dopamine by tipping them with cryptocurrency. This will both satisfy the network user’s need for attention, as well as pay him/her for the quality content they provided.

What does TRX future look like?

The project has several identifying features. The Proof of Stake Velocity is a unique concept which they developed; it represents a NEM-like algorithm which values the “velocity” or usage of tokens, thus giving people who contribute the most by being active with their RDD the rights to govern the network. Network’s native token has the RDD ticker and is classified as a utility token, which absolves it of any threat of being called a security. The currency has its own blockchain and a wallet called ReddCoin Core.

Year in Review

Every new startup has its teething problems but RDD is in a much more serious health condition now. One of the admins on their Telegram group allegedly told that some of the early developers dumped their coins and jumped ship. That could explain a lot of inactivity around the project.

The idea is great, but the product delivered short of customer expectation in every-way, and further development seems to be at glacial pace. In short, it’s a zombie coin that no one uses for anything but to fleece money out of the naive newbies.

The whole year revolved around the ReddID, a new service, a service which lets users register a unique name which they can link to their profiles on Twitter, Reddit, Facebook or any other social network. Thanks to this unique profile which will come with a light browser wallet for your RDD, users can easily navigate between their networks and perform tipping activities with a single click of a button. ReddID beta was released in July (with a slight delay); clearly the test results came back quite positive but also with a lot of technical issues that needed to be ironed out.
Apart from this feature, not much has happened in RDD land.

Reddcoin (RDD) Roadmap for 2019

The Reddcoin roadmap for 2019 is non existent. The official website doesn’t give any indication of how the team is working towards making Reddcoin a success either.

Even on the section talking about PoSV verifications, there are no indications as to when it will come to Reddcoin.

With this scant information, the only conclusion that can be drawn is that Reddcoin is on the verge of extinction.

General Market Movements and Sentiment Shift

The downfall of altcoins that were mainstream media darlings at the start of the year, RDD among them, can be attributed, in part, to novice investors getting scared off once the bear market kicked in with a vengeance. Every resurgence of bitcoin in recent period, was met with the, for the most part, inability of altcoins to rally with it. Reason for that can be rookie investors learning from their mistakes, while smart money that was previously watching from the sidelines has begun to enter into bitcoin.

These entities weren’t about to buy BTC when it was trading at an all-time high, but they’ll take a look now, having missed the boat the first time around. None of them, it seems, are interested in altcoins however, despite the fact that many are trading at a 5x discount. Institutional investors may be cautious, but they’re not foolish.

Stellar Future Price Forecast

Some altcoins will continue to have some speculative value for the foreseeable future. But just like the now infamous tulips, the hysteria will eventually subside. We are already witnessing the first phases of that slide and even though most of the bag holders react emotionally to articles that criticize their coins, I am just observing the developments on the market. You better start emotionally detaching yourself from your “great sounding” coin because if goes nowhere, ideas are worthless without execution and real users that see value in the project.

Our RDD Price Prediction for 2019

To answer our question from the title: hitting $0.010 is a highly improbable goal for RDD in this year.

RDD, as the rest of the market, is tied at the hip of bitcoin’s price action. If bitcoin embarks on another bull run, RDD can hope for one as well. Since that is very unlikely, don’t expect much to change for RDD price-wise in this year. So 2019 will be a year of boring sideways action with minor bitcoin ignited jumps and slumps.

In general:

The main currency in cryptocurrency markets is Bitcoin and given this, altcoins tend to fuel Bitcoin runs and Bitcoin tends to do the same in return. Given this relationship, Bitcoin price movements (or lack thereof) tend to effect altcoin prices.

When Bitcoin goes up swiftly, it will likely:

  1. Suppress or depress altcoins as money flows into Bitcoin;
  2. Or, take altcoins along for the ride

In cases when Bitcoin plunges, it will likely:

  1. Depress altcoins as money flows into fiat;
  2. Or, cause altcoins  to boom as money flows into them, but this is rarely the case.

When Bitcoin moves sideways, it will likely:

  1. Cause altcoins to mimic that as traders wait for a clear sign on the direction of the market;
  2. Or, cause altcoins to flourish as traders look for returns in altcoins and try to get favorable trades in terms of BTC pairs.

To summarize, Bitcoin is the focal point of the crypto market in many ways, and with BTC trading pairs on every exchange, the gravity of Bitcoin is hard to evade.

The majority of projects will fail — some startups are created just to gather funds and disappear, some would not handle the competition, but most are just ideas that look good on paper, but in reality, are useless for the market. 

Vitalik Buterin, co-founder of Ethereum said:

“There are some good ideas, there are a lot of very bad ideas, and there are a lot of very, very bad ideas, and quite a few scams as well”

As a result, over 95% of successful ICOs and cryptocurrency projects will fail and their investors will lose money. The other 5% of projects will become the new Apple, Google or Alibaba in the cryptoindustry. Will RDD be among those 5%?

Very low, almost zero probability of that happening.

The Pareto Distribution is a pervasive phenomena observed in nature, and it describes the 80/20 rule where 80% of the women have sex with 20% of men. 80% of wealth belongs to 20% of the population. 80% of your results come from 20% of your activities. At least 80% of altcoins will fail and RDD seems to be in that group.

How does Electroneum future look like? ETN Price Forecast for 2019 and Beyond.

All of this summed up means one thing: RDD might live through couple of orchestrated and, for a regular trader, completely unpredictable pumps but the majority of time will be murky sideways trading with small volume and no significant interest from the market.

Price will heavily depend on what BTC will do and since many analysts think BTC will not be making big moves in this year, it is hard to expect RDD will do them either. The price will probably stagnate and record slow-moving depreciation or appreciation depending on the team activity, potential technological breakthrough or high-level partnership

Market prediction for RDD Price 2019

With the market being completely unpredictable, forecasting the cryptocurrency price is really more of a gamble and luck rather than a data driven guesstimate.

Let’s throw a glance at the eminent publications and personalities, and their predictions regarding the Reddcoin (RDD) price, which will give us another point of view to consider:

Wallet Investor

Walletinvestor is a popular website that does technical analysis-based price predictions of various cryptocurrencies. According to them, RDD is expected to go down to $0.0011 in one year. This price prediction is very neutral as the current price is in the same order of magnitude as well.

DigitalCoinPrice

Digitalcoinprice gave a slightly positive prediction saying that by 2019 end, RDD might be 5x more valuable than now – $0.006 per coin.

Mega Crypto Price

Mega Crypto price predicts that RDD might reach $0.003 by the end of 2019, meaning it will gain 270% to the current price.

Cryptoground

Cryptoground predicts that RDD might reach $0.0035 by the end of 2019. They even added their version of RDD price prediction 2024, where they stated that RDD might reach $0.017 by 2024.

RDD Future: 2020, 2023, 2025

Reddcoin (RDD) Price Prediction 2020

Reforming social media is a huge task and RDD stands a very small chance of making it. Chances of project dying and crashing to $0 are much greater than going on a bull run and reaching $0.010

Reddcoin (RDD) Price Prediction 2023

If RDD actually survives to see 2023, which is highly unlikely, that would mean it actually got traction, has active user base which would all lead to the token being worth at least 10-100x than its hitherto all time high. That would mean 1RDD would cost $0.20-$2.

Reddcoin (RDD) Price Prediction 2025

Again, If RDD actually survives to see 2023, which is highly unlikely, that would mean it actually got traction, has active user base which would all lead to the token being worth at least 100x+ than its hitherto all time high. That would mean it would be $2 per token

Realistic Reddcoin (RDD) Price Prediction

Predicting prices of novel, highly volatile and risky asset classes is a thankless task – best answer is no one knows. Educated guess is that realistic RDD price for the foreseeable future is somewhere between its current price and zero.

coinmama
 
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

Torsten Hartmann has been an editor in the CaptainAltcoin team since August 2017. He holds a degree in politics and economics. He gained professional experience as a PR for a local political party before moving to journalism. Since 2017, he has pivoted his career towards blockchain technology, with principal interest in applications of blockchain technology in politics, business and society.

2 Comments
  1. RDD has had a steady growth if you look at bottom rates, rather than bulls and bears. Ive seen mine between 50 euro low and 90.000 euro high.But the basic 200 euro I invested, is still worth about 4k now, being low. So it all also depends on what term you are looking at. I found the development and the community steady after I joined. I see issues to integrate them with large social existing platforms that may wanna create their own coin, but a global social tipping system is always a good idea, and I support it from the start and will keep supporting it in the future. I personally dont see any issue with this coin. If my coins will ever fall back to 50 euro, I will give you a new reply and stand corrected. 😉

  2. I stumbled upon this article today. I began to doubt Reddcoin because of this article and the lack of information from the Reddcoin team.
    I believed the entire story you wrote. Up to your comment about the lack of a roadmap.
    If you had done your homework properly than you should have found the link to the public Roadmap of Reddcoin at the bottom of the reddcoin.com homepage under Additional Resouces. Hidden in plain sight 😉

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