Price Analysis

Decred (DCR) Price Analysis: Decred’s Price Predictions to Extend the Current Growth of the Market

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Decred is a blockchain based decentralized cryptocurrency which primarily focuses on attention to community input, open management, and stable financial development. The key feature of this token is its desire to provide its users with the ability to control the blockchain. This platform is based on the model of consensus voting of participants that permits customers to contribute to the development of blockchain. DCR uses PoW and PoS consensus algorithm simultaneously.

Decred Chart

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DCR’s market price traded at 20.27 USD at 07:34 UTC for the Mcap value of USD 193,647,832. The cryptocurrency is ranked 37 based on its Mcap value and the circulating supply of 9,555.806 DCR coins. The present market value of DCR for the 24h volume of $2,470,763 amounts to USD 194,602,694 at 13:14 UTC. The relative selling price per DCR unit equals 20.37 USD or 0.00493800 BTC. The market value opened at USD 150 million at the beginning of 2019. However, the volatility of the market has maintained a stable price until March 12 with subsequent highs and lows. The value reached its lowest on February 07 with USD 138,818,445 and the price value trading at 14.97 USD. The cryptocurrency value boomed to over USD 185 million on March 13, with an average increase of 33.84% from its all-time low. However, the currency is currently at its prime reaching its peak value of USD 195,150,645 today on April 01 at 11:34 UTC. The increase in trading price from a low of 14.97 USD to the recent high of 20.42 USD offers good resistance support. The growth rate of DCR is estimated from the increase in the value of exponential moving average from USD 155,522,465 to the current value with a hike of 25.13%. This drives the crypto-coin under the bulls rule.

The future of DCR looks brighter with an increase in price. Crypto infobase forecasts the price per DCR to skyrocket to USD 60 by the end of 2019 with an increase of 194.55%. It further estimates the growth to reach USD 85 by early 2020. Similarly, the crypto ground has predicted a growth rate of 130.49% with the price of DCR reaching 48.3835 USD by the end of 2019 and further down the lane, by five years, the cryptocurrency would face a rise of 707.23% reach a price value of 169.4526 USD. Cryptocurrency’s technical analysts from coin switch have forecasted the price increase for one year, three years and five years to reach 161.379 USD, 231.954 USD and 287.572 USD respectively. This estimation is based on the coin’s unique feature that facilitates all its members to either be a miner or participate in voting. This token is completely a community-driven platform and has been declared as a genuine currency with the potential to grow.

The cryptocurrency’s market is already flourishing with the values on a static increase. The volatility of the currency has subdued reasonably giving rise to the overall market. The bulls rule and the moving averages push the market in favor of the buyers. The investors should utilize the credibility of the cryptocurrency in both long term and short. This will spike the value of the cryptocurrency in the future. Once, the volatility settles, the estimated increase in price will be easily achievable.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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