CRO went up 1,400% in 2021 but has suffered lately. What is the latest price forecast?
- Crypto.com overview
- Past performance
- Crypto.com coin price prediction: Expert opinion
- Crypto.com price prediction
Launched in 2016 in Singapore to accelerate the uptake of crypto globally, Crypto.com offers users an impressive array of financial products.
After a massive promotional push by the company – including a $100m advertising campaign starring Matt Damon – CRO, the native token of Crypto.com, enjoyed a meteoric rise in late 2021.
However bitcoin and most altcoins are continuing to bleed, as investors react to macro headwinds.
Before we take a look at the Crypto.com price prediction, let’s look briefly at what Crypto.com does.
Initially developed as a crypto payment product, Crypto.com has become more comparable to a crypto bank. It offers different kinds of crypto Visa cards, an exchange, brokerage services, a wallet and a native coin that can be staked for rewards, making it a one-stop shop for crypto.
According to its white paper, “Crypto.com was founded on the belief that it is your basic human right to control your money, data and identity”, and that “decentralisation holds the key to empowering people around the world to better safeguard their rights... by accelerating the transition to adopting cryptocurrency”.
Users can earn interest by staking CRO coins and also gain access to different tiers of reward systems on prepaid Visa cards.
On the Crypto.com exchange, users across most of the United States can trade and store more than 60 cryptocurrencies. More than 20 fiat currencies are accepted on the Crypto.com exchange, including USD, GBP and EUR.
With more than 10 million investors using the Crypto.com exchange and widespread global uptake of crypto – predominantly as a store of value, but also as a replacement for traditional currency – Crypto.com has gained some real traction in the market. But what does this mean for the Crypto.com price prediction?
Before we look at what the experts think will happen, let’s take a look at past performance.
After the launch of CRO in late 2018, the coin made modest gains. From $0.0217 on 1 January 2019, the CRO price reached $0.09264 on 11 July 2019. In 2020, the CRO price again rose significantly, reaching $0.1798 on 1 September 2020. The coin also saw a bullish rally in spring 2021, reaching $0.2468 on 5 April.
These gains paled in comparison, however, to the surge seen towards the end of the year, when CRO peaked at its highest-ever price of $0.9005 on 23 November 2021. The spike followed publicity surrounding the company’s Matt Damon advertisement and the renaming of the stadium where the Los Angeles Lakers basketball team plays as the Crypto.com Arena in a 20-year, $700m deal, representing a 1,400% increase over the 11-month period.
Since the all-time high, the price has fallen sharply. Trading at $0.58 by 1 January 2022, and falling further to $0.33 by 22 January. A slight recovery was made by 27 January, and the coin is currently trading at around $0.40.
Immediate threats posed by regulation from the Federal Reserve is a commonly cited reason for steep declines in crytpo values over the winter period in 2021 and creeping into 2022. The potential crypto winter and the looming threats to global markets posed by the Omicron variant have also compromised investor confidence.
But is a recovery on the cards? The average directional index, as of 27 January 2022, suggests a good buying position, as does the VMWA and Hull moving average. However, the simple moving averages are almost all firmly in the sell position. According to an analysis by DigitalCoinPrice; 10 suggest selling at this stage, 11 suggest holding and five suggest buying.
Crypto.com coin price prediction: Expert opinion
It’s important when looking at predictions to remember that while they can be helpful as an indicator of which direction the price may move in, they should be viewed as possibilities rather than absolutes.
This is especially the case when looking at long-term forecasts, as these can sometimes be completely off the mark. This is due to both the inherent volatility of the crypto market and the many unknowns which could affect future prices.
With that in mind, let’s look at some CRO price predictions.
Crypto.com price prediction
WalletInvestor suggests that the CRO price should hit $0.96 in a year’s time and $3.34 in five years.
According to Gov Capital, the Crypto.com price prediction for 2022 suggests the coin could break the $0.50 barrier in March. The forecasts projection for one year's time is for the coin to reach $0.90 and estimates that in five years’ time, the CRO price will be $4.99.
DigitalCoinPrice says that CRO should be worth $0.54 at the end of 2022 and $0.66 by the end of 2023. The Crypto.com price prediction for 2025 is an average of $0.85.
Priceprediction is one of the few sites brave enough to make a Crypto.com price prediction for 2030, suggesting the coin could go as high as $12.83.
It might be. CRO has certainly performed well over the past 12 months, increasing 1,400% from January to November 2021, and it is still trading above its yearly averages from 2018, 2019 and 2020. As of 27 January 2022, the coin is worth over 2,250% more than when the coin was launched but has been on a marked downturn over the winter period.
You need to exercise caution when investing in any form of crypto and perform your own due diligence before investing. Cryptocurrencies are highly volatile and prices can definitely go down as well as up, so remember never to invest more than you can afford to lose.
CRO could go up but it could also go down. Crypto is very volatile and can be risky – always bear this in mind when making buying or investment decisions.
While CRO appears to be a solid coin with good prospects and exciting potential, it’s important to remember that investing is a highly personal endeavour.
Do your own research, and try to keep up to date with any developments within the Crypto.com ecosystem that may boost or damage its future prospects. Remember, investing can be risky and it is important never to invest more money than you can afford to lose.