ARK price prediction: What is ARK?
It is designed to power a platform which allows people to build their own blockchains, but what is ARK? Let’s see what we can find out about ARK, and also examine some of the ARK price predictions that were being made as of 14 December 2022.
ARK explained
In terms of the world of cryptocurrency, the single most important technological development is that of the blockchain. After all, if it were not for the decentralised ledger where every transaction and change is recorded without any overall authority in control, it is highly unlikely that we would not have any cryptos at all.
Well, maybe we would have ripple (XRP), but pretty much every other cryptocurrency, whether it is a coin or a token, would not exist without the blockchain being there to support it.
With the growth in blockchain technology and cryptocurrency, it is worth noting that most cryptos are tokens rather than coins. Although many people might well use the two concepts interchangeably, in doing so they betray their ignorance. As it stands, all crypto coins are tokens, but not all crypto tokens are coins. What is the difference between the two? Well, to put it simply, a token is based on a blockchain that is not its own, while a coin is based on its own blockchain.
It follows, therefore, that while making a crypto token is comparatively straightforward, creating a coin of your very own is far more complicated because you will need to make your own blockchain. Doing that will, at least in theory, require a lot of technological know-how, time, patience and even money.
One platform aiming to make things easier, quicker and potentially cheaper is ARK. This is a blockchain designed to make it simpler to create another blockchain.
The idea here is to use the programming languages Javascript and Typescript – both fairly common in computer programming – to help create a blockchain that should work as its builder intends. As the platform’s whitepaper says:
Every blockchain needs its own native currency and ARK, which was founded in 2016 by crypto entrepreneurs Travis Walker and Matthew Cox, has its eponymous coin. This crypto is used to delegate who add blocks to the ARK blockchain. Additionally, it can be bought, sold and traded on exchanges.
ARK price history
ARK price history from launch to present – Credit: Capital.comLet’s now cast our eyes over the ARK price history. While past performance should never be taken as an indicator of future results, knowing what the coin has done in the past can help give us some very useful context if we want to either make an ARK price prediction of our own or else interpret one that is already out there.
When ARK first came onto the open market in the spring of 2017, it opened at $0.03268 on 22 March that year. In truth, it did not do anything too exciting, until the end of the year, when the crypto market experienced a significant bubble and by 9 January 2018, it had soared to what still serves as an all-time high of $10.91.
After that, the bubble burst and ARK, like pretty much the rest of the crypto market, experienced a crypto winter, falling below $1 in August and staying below the dollar level for the next two and a half years or so.
Things started to change in early 2021 as the crypto market experienced a notable boom. While ARK was unable to get back to anywhere like where it had been in early 2018, it still performed pretty well, breaking above the dollar barrier in February 2021 and reaching a periodic high of $3.98 on 30 March.
The coin then went down, and dropped below the dollar throughout the summer, but there was a small resurgence in August and, following some peaks and troughs, it closed the year at $1.16.
If 2021 was a feast for crypto, then 2022 has surely been a famine, and ARK has not escaped the downturn. It reached a high of $1.45 on 3 January, but then went down to $0.7154 on 24 February in the wake of Russia’s invasion of Ukraine.
There was a recovery the following month to $1.67 on 28 March, but then things got really bad. A series of market crashes saw it collapse to $0.3464 on 15 June and, although there was a recovery to $0.5555 on 15 August, it dropped back down again.
Things got even worse in November with the collapse of the FTX (FTT) cryptocurrency exchange led to it falling to a low of $0.2257 on 14 November.
There was a slow, somewhat unsteady recovery after this, and on 14 December 2022 it was trading at $0.3155. At the time of writing, there were 143,121,482 ARK in circulation out of a total supply of 169,621,865. This gave the coin a market cap of about $45m, making it the 369th largest crypto by that metric.
ARK price prediction round-up
Let’s now take a look at some of the ARK price predictions that were being made as of 14 December 2022. It is important to remember that price forecasts, especially when they concern a commodity as potentially volatile as crypto, can end up being often wrong.
Also, it is worth pointing out that many long-term crypto price predictions are made using an algorithm, which means that they can change at a moment’s notice.
First, CoinCodex offered a cautiously optimistic, if somewhat mixed, short-term ARK coin price prediction. At the time of writing, the site suggested the crypto could climb to around $0.3715 by 19 December before slipping down to $0.3615 by 13 January 2023. In spite of that, though, the site’s technical analysis was bearish, with 29 indicators sending out downbeat signals against just two making bullish ones.
Next, CoinArbitrageBot was more upbeat in its ARK crypto price prediction. The site estimated the coin could reach $1.83 in 2023 and a little under $3.26 in 2024. It went on to make an ARK price prediction for 2025 that indicated the coin could reach $5.27 and climb to $8.53 the following year. How much credence you give this particular forecast will depend on whether, having carried out your own research, you think that ARK can rise by around 500% over the course of the next 12 months and its price can grow by somewhere in the region of 2,500% in four years.
DigitalCoinPrice outlined ARK could close 2022 at $0.38 before reaching $0.77 in 2023 and breaking through the dollar barrier to $1.12 the year after that. By 2025, the site said ARK could be worth $1.36 that year and the year after, then $1.66 in 2027 and $2.35 in 2028 and could close the decade at $3.20. The site then made an ARK price prediction for 2030 that said it could achieve $4.52 that year and $6.01 in 2031.
Finally, WalletInvestor was far more bearish when it came to making an ARK price prediction for 2023. The site suggested that there could be a very tough 12 months ahead for the coin and that it could drop to a mere $0.0452 by the middle of December next year.
When considering an ARK coin price prediction, it’s important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict what a coin or token’s price will be in a few hours, and even harder to give long-term estimates. As such, analysts and algorithm-based forecasters can and do get their predictions wrong.
If you are considering investing in cryptocurrency coins and tokens, we recommend that you always do your own research. Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decision. Keep in mind that past performance is no guarantee of future returns. And never trade with money that you cannot afford to lose.
FAQs
Is ARK a good investment?
It is difficult to say because much will depend on how the market performs as a whole going forward.
Remember, you should always carry out your own thorough research before making an investment decision regarding any coin or token as to whether they are right for you and your portfolio. Even high market cap cryptocurrencies have been affected by bear markets. So investors should be ready to incur losses – rather than assuming they will make gains – and you never purchase more than you can afford to lose.
Will ARK go up or down?
No one can really tell right now. While CoinArbitrageBot was notably upbeat with its assessment of a future ARK price, suggesting it could have risen to $1.83 in 2023. in contrast WalletInvestor was far more circumspect and bearish, forecasting ARK could reach $0.0452 in a year’s time. Keep in mind that price predictions are very often wrong, and that prices can go down as well as up.
In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether ARK is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors. Keep in mind that past performance is no guarantee of future returns. And never invest money that you cannot afford to lose.
Should I invest in ARK?
Before you decide whether or not to invest in ARK, you will need to carry out your own research, not only on ARK but on other crypto coins and tokens.
Ultimately, though, this is a question that you will have to answer for yourself. Before you do so, however, you will need to conduct your own research and never invest more money than you can afford to lose because prices can go down as well as up.
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