In this guide, we will voice our own and market’s opinion on ZIL future while discussing Zilliqa price forecast for 2020 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 ZIL.
Now, let’s head into it.
Before we delve deep into the Zilliqa price prediction and answer questions if Zilliqa is a good investment or not, why will ZIL succeed or fail or why will ZIL price rise or drop, let’s quickly throw a glance at what is Zilliqa and its to date history.
A Singapore-based project called Zilliqa is strong contender for tackling the problem of scalability, and has quickly established itself as one of the hottest coins of 2018. Then they went under the radar, mostly due to their own fault and missed deadlines.
The primary strength that Zilliqa brings to the table is that it is one of the first projects to successfully harness the power of sharding as a scaling solution. While other projects (including Ethereum) are planning to implement sharding, Zilliqa was among the first to demonstrate that it can really work.
Zilliqa is not just some generic fork like many other altcoins; this is a team that tries to really build something: Scilla programming language and sharding are best proofs for that. For this reason, Zilliqa deserves props up from the whole crypto community.
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Our ZIL Price Prediction 2021
ZIL, as the rest of the market, is tied at the hip of bitcoin’s price action. If bitcoin embarks on another bull run, ZIL can hope for one as well. Bitcoin usually has a cool-off phase after its mega bull runs and that is when the altcoins take over and have a field day with the bulls, often doubling or tripling their price within days.
With the pandemic breakout, the world was sent into hybernation for couple of months and it reflected negatively on the cryptocurrencies, sending bitcoin downhill as we witnessed even 40% daily losses. However, situation quickly stabilized and bitcoin as the flagbearer took the crypto market back up. We are in a major bull run since the summer and, if we are listening to the analytics from social media and journalistic desks, we are far away from its local zenith.
What this means for Zilliqa price in 2021?
As long as bitcoin is in the main role and pulling upwards, there is little room for ZIL to shine. It will, however, increase its USD denominated value thanks to the overall rise in crypto prices. Nevertheless, ZIL to BTC ratio will probably slump, possibly to all-time lows. This means that it is best to keep your funds in bitcoin until it reaches its provisional peak, opening the doors for the altcoins to enter the scene. Zilliqa will be among the top candidates to record big gains, as the money usually flows from bitcoin profits to bluechip altcoins and big cap coins before trickling down to the less known and smaller projects.
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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 ZIL be among those 5%?
It is more than plausible. But Zilliqa will live and die by the sharding.
Sharding technology is of high importance, not only for Zilliqa, but for the whole cryptocurrency industry. Should this scaling solution proves its value on Zilliqa’s blockchain, it can be implemented on other networks which would lead to a huge breakthrough on one of the biggest painpoints of the whole crypto world.
Why will Zilliqa succeed?
Why will Zilliqa fail?
Can Zilliqa reach $1 or even $10?
Is Zilliqa dead?
All of this summed up means one thing: ZIL 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 ZIL 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.
Read our updated guide on what to mine these days.
Market prediction for Zilliqa price 2020
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 Zilliqa (ZIL) price, which will give us another point of view to consider:
Bein In Crypto
Bein in crypto is a crypto blog that predicts Zilliqa might reach $0.09 in 2020, which is the best case scenario and $0.02 as the worst case scenario. They even mentioned that in 5 years, ZIL might even reach $0.19.
Global Coin Report
Global Coin Report, another crypto news and opinion website, is very bullish on Zilliqa because of its technological mastery and predicts that by the end of 2020, it might touch even 1 USD.
Trading Beasts is a machine powered algorithm that predicted the price of Zilliqa for 5 years time frame. They have mentioned that by 2020 end, ZIL might reach $0.16, by 2020, they might reach $1.15 and by 2022, it might even touch 5 USD mark.
Wallet Investor is traditionally taking conservative predictions and believes that ZIL might go down to $0.00373.
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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