Price Analysis

Maker Is Running on A Bearish Trend

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Maker is a governance token as well as a cryptocurrency which relies on the Ethereum Platform. It aims to establish a line of decentralized assets that can be compared to the value of real instruments like gold, currency, etc. As it has the base of Ethereum, it is also a smart contract platform and a decentralized digital currency. It also aims to minimize the price volatility of its own stable coin, Dai, against the US dollar. Along with Dai, the price of Maker is also highly volatile. Maker is referred to as the utility token, and its prices hike up with the usage of Dai.

Current status of Maker (MKR)
  • MKR is currently getting traded at USD 676.09 (UTC time 03:59).
  • It is currently standing at the 16th position in the cryptocurrency market.
  • Its current market cap has a value worth of USD 676,088,987.
  • At present, 1,000,000 MKR is getting circulated in the crypto trading sphere.
  • Compared to its yesterday’s price, MKR’s value has been deterred by -0.20%

According to the crypto predictors, the market value of MRK is expected to rise tomorrow and in future and keen crypto investors much consider MKR for long term investment only.

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Price analysis of MKR on the basis of MKR charts

Maker Chart

On the basis of the above MRK charts, the current price of MKR is 675.09 USD or 0.17402102 BTC (UTC time 04:11). Its current market cap is getting traded at a value of 675,088,477 USD with 24h volume having a value worth of 1,822,699 USD. From, the same chart, it is seen that nearly one month back, the price of MKR was 448.46 USD. So, considering its past price and present price, we can say that its value has spiked up by 50.53% in this approx. One month period with a good support level of $523.52.

Future price predictions of MKR

As per the cryptoanalysts, if investors are aiming to get good returns today by splurging on MKR, then, they are probably thinking in the wrong way. MKR can be considered as a very effective long term investment. After five years, the predicted price of MKR is expected to be around $2,346.5064. Even, the analysts predicted that in spite of volatility, the price of MKR after five years would not fall drastically to impact its investors badly. Obviously, there will be ups and downs in the prices of MKR, but, its value will be on the higher side in its upcoming future. On the basis of the today’ price, the predictors assumed that the price of MKR would be around $677.54 tomorrow.

So, it is cleared that today is not the time to expect higher returns from MKR investments as volatility is very high. But, after five years, its prices will be on the higher side, and its value will also increase significantly, thus, indicating that it is a good option for long term investment.

Conclusion

MKR is currently running on a negative trend due to which assurance of higher returns from MKR investments is not guaranteed. But, according to the future price predictions of MKR, it can be a very good option for the investors to consider for long term investment.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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