Bitshares price prediction: What is bitshares (BTS)?
It helps run a peer-to-peer digital asset exchange, but what is bitshares (BTS)?
Let’s see what we can find out, and let’s also examine some of the bitshares price predictions that were being made as of 1 December 2022.
Bitshares explained
BitShares is a decentralised exchange, or DEX, which, according to its whitepaper, is designed to carry out more transactions per second than VISA and MasterCard combined. The BitShares network can confirm transactions in one second using something called Delegated Proof of Stake (DPOS).
BitShares’s DEX claims to be able to handle the Nasdaq’s trading volume while settling orders immediately upon submission. The network is based on Graphene – a software platform for deploying third generation cryptographically secure blockchains which uses secure blockchains and claims to be able process orders faster than first-and second-generation Bitcoin systems
DPOS uses the approval voting power of stakeholders to settle issues of agreement fairly and democratically. All network parameters can be adjusted by elected delegates, from fee schedules to block intervals and transaction sizes.
BitShares was originally known as ProtoShares, and founded by software engineers Daniel and Stan Larimer along with Ethereum (ETH) co-founder Charles Hoskinson, now best known for his work with the Cardano (ADA) blockchain.
The platform’s use of a distributed public ledger enables the establishment of distributed autonomous corporations (or DACs) that claim to deliver services at a fraction of the cost of more conventional, centralised alternatives.
The platform is powered by the BTS coin. Holders of BTS get a portion of company earnings and vote on things such as business spending, hiring people, selecting leaders, technical upgrades and integrating new features.
Bitshares price history
Let’s now cast our eyes over the BTS 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 useful context when it comes to either interpreting a bitshares price prediction or else making one of our own.
Based on the earliest available price data from 2014, the BTS price declined from $0.01 on 22 July to $0.008 on 29 July 2014. Then, a strong bullish momentum pushed its price to $0.046 on 25 August, an increase of 475% within less than a month, closing the year at $0.016.
The price stagnated throughout 2015 and declined to an all-time low of $0.002 on 7 January 2016 before it closed the year at $0.003.
The coin’s price gained momentum in 2017 and spiked from $0.004 on 1 January to $0.392 on 11 June, a rise of 9,700%. The retracement sent the price to $0.043 on 9 October. The market sentiment turned bullish afterwards, and BTS closed the year at $0.657.
On 2 January 2018, as the crypto market got caught up in a bubble, BTS reached its all-time high of $0.916. However, once the bubble burst, the price then collapsed to $0.038 on 31 December. Over the next couple of years, the so-called crypto winter saw the price stagnate, but as the broader crypto market turned bullish in 2021, BTS spiked from $0.021 on 1 January to $0.15 on 16 April, before dropping to close the year at $0.033, down nearly 80% from the April peak but up more than 55% from a year previously.
At the start of 2022, BTS token price remained bearish and declined to a low of $0.017 on 24 February in the wake of Russia’s invasion of Ukraine. Although it recovered to $0.03057 on 2 April, it then went back down, reaching a nadir of $0.007726 on 18 June following the cancellation of withdrawals on the Celsius (CEL) crypto lending platform.
Following that, it made a shaky recovery, reaching a high of $0.01712 on 11 August before dropping over the following months to $0.01126 on 5 November. It was then that the market crashed, triggered by the collapse of the FTX (FTT) exchange into bankruptcy, and BTS sank to a low of $0.007113 on 9 November.
After that, there was a recovery and it reached a high of $0.01155 on 28 November before dropping back slightly to around $0.0089 on 1 December 2022.
At that time, there were 2.99 billion BTS in circulation, representing the total supply. This gave the coin a market cap of around $26.7m, making it the 476th-largest crypto by that metric.
Bitshares price prediction round-up
Let’s now take a look at some of the bitshares price predictions that were being made as of 1 December 2022. It is important to remember that price forecasts, especially for something as potentially volatile as cryptocurrency, often turn out to be wrong. Also, many long-term crypto price predictions are made using an algorithm, which means that they can change at any time.
First, CoinCodex seemed to be rather undecided in its short-term BTS price prediction, saying the coin could reach $0.00927 by 6 December and $0.00575 by 31 December. The site’s technical analysis for the coin was bearish, with just 11 indicators sending out bullish signals against 21 issuing negative ones.
Next, DigitalCoinPrice made a bitshares coin price prediction that it could hit an average of $0.0106 in 2022, $0.0224 in 2023 and $0.0305 in 2024. The site then suggested it could potentially reach $0.0391 in 2025.
After that, the prediction indicated the coin could grow to $0.0463 in 2027 and $0.0653 in 2028 before potentially closing the decade at $0.0909. The site made a bitshares price prediction for 2030 that saw BTS reaching a potential $0.13, and then $0.17 in 2031.
Meanwhile, CryptoPredictions had a bitshares crypto price prediction which suggested the coin could close 2022 at $0.01546, before reaching $0.01719 at the end of 2023. The site then made a bitshares price prediction for 2025 that saw it potentially start the year at $0.01965, before saying it could close the year at $0.02172.
Finally, Wallet Investor was far more bearish in its bitshares price prediction for 2023, having suggested that the coin could pretty much halve in value over the next 12 months, and that it could have traded down to $0.00567 by 1 December 2023.
When considering a BTS 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 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 bitshares a good investment?
It is hard to say. The crypto has not really been able to battle against the market since the start of 2022 and, as a long-standing crypto, it does appear to have been eclipsed by newer coins and tokens. A lot will depend on how the market performs as a whole.
Remember, you should always carry out your own thorough research before making an investment. Even high market cap cryptocurrencies have proved vulnerable to the current bear markets, so investors should be prepared to make losses and never purchase more than they can afford to lose.
Will bitshares go down or up?
It is difficult to tell. While sites like DigitalCoinPrice were optimistic as of 1 December 2002, the likes of Wallet Investor struck a more cautious tone. Let’s not forget that price predictions often turn out to be 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 BTS 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 bitshares?
As a long-lasting crypto, bitshares has plenty of history to consider before a potential investor makes a decision. Ultimately, though, this is a question that you will have to answer for yourself.
Before you do so,you will need to conduct your own research. Never invest more money than you can afford to lose, because prices can go down as well as up.
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