Price Analysis

Qtum (QTUM) Price Analysis: Qtum’s Price Correction is Temporary; Will Yield Much Mass on the Longer Term

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Qtum (QTUM) is an open sourced platform backed by blockchain technology. Its primary focus is on decentralized apps (dApps). Qtum (QTUM) platform facilitates both value transfers and enforcement of smart contracts. Qtum coins also work as hybrid coins. Qtum coin (QTUM) relies on the PoS (Proof-of-Stake) platform and Decentralized Governance Protocol (DGP). This protocol helps the smart contracts to modify some specific blockchain settings

Current Statistics-

QtumWith a negative ROI (Return on Investment), Qtum (QTUM) coin is the market’s 34th largest coin. The current supply of coins stands at 89,422,084 QTUM. The current market cap as on 25th March at 02:14 UTC is 227,728,910 USD. And the value of each coin stands at 2.55 USD & 0.00046643 BTC. The current 24 h volume at the same UTC stands at 180,168,875 USD.

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Comparison-

Qtum coin started the year with a relatively lower price as the effects of crypto winter was on at that moment. It was traded around 2 USD then. But after a few days, it could not sustain the momentum and fell back to its lowest point at 1.75 USD. From there it has been showing many variations. However, the highest point could be seen after a week of so-called April 1st boom at 3.63 USD. The market cap on 25th March was 231,170,009 USD. And the value of each coin stood at 2.59 USD. The current market cap and value of each coin has deflated by almost 1.5% in these 30 days.

Prediction-

Qtum (QTUM) coin has been going through many price variations since the starting of the year. The variations have affected the coin’s pricing heavily. As of now, the coin is being traded around 2.5 USD level, and it should be noted that the coin started the year with a similar note. We predict the coin to rise for the time being looking at the price trend. The coin should face one resistance at 3.5 USD, and after that, the coin will experience a fall for a brief period. The long term and medium-term outlook are bullish. By the end of 2019, the coin’s value should be at 5.65 USD, and the 2020 prediction falls within the range of 15 USD.

Conclusion-

We advise the short term traders to stay away from this coin if they are averse of risk-taking. Locking in a buying position needs much attention to details. However, the medium term and long term outlook is bullish and may give a huge dividend of more than 200 % in the long term.

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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