Chia (XCH) is a coin circulating on Chia Network-a brand new blockchain platform created by Bram Cohen, the inventor of BitTorrent. Chia is managed by Chia Network Inc., which plans to go public and ambitiously build Chia into an “enterprise-level digital currency.” Chia Network is a so-called Level 1 solution, just like Bitcoin or Ethereum, because it does not use existing infrastructure. The entire network is built from scratch, including Chialisp, an intelligent transaction programming language. The main feature that makes Chia unique is the new consensus protocol called Proof of Space and Time. It requires the participants of the network to either use the empty space on the hard drive for farming (as it is called, not Chia mining), or to solve more computationally intensive problems (for “time”). Farmers only need 100 Gb of space to join the network. This makes it easier for ordinary people to obtain Chia agriculture than Bitcoin or Ethereum mining, which requires special equipment and bears a lot of energy costs. The extremely low energy usage is another advantage of Chia, which prides itself on being green.
Chia does not have an ICO, but prepared for a period of time before its mainnet launch in 2021, after which its transfer is available. There is no upper limit to the total amount of Chia, but it is expected to be halved every 3 years.
Chia started trading on May 3, 2021, which gave the currency a good start, soaring to a record high of approximately $1934. Later, the price fluctuated slightly, but for most of the first half of May, Chia’s price was still high, especially before the middle of the month-probably after Elon Musk’s remarks about Bitcoin energy consumption, thanks to Based on Chia’s clever positioning as a green alternative to Bitcoin. Although it reached such a high level (more than 1,600 US dollars on May 15), the price of chia seeds plummeted to a low of 600-700 US dollars within a few days. This may be due to the news of a shortage of hard drives caused by agriculture. As the initial wave of interest faded. Having said that, in mid-June 2021, the price of Chia began to consolidate, mostly trading between US$350 and US$450, which may indicate that an upward trend is coming. Coupled with the ambitions of the Chia team, such as an IPO in the near future, this makes Chia a person to watch.
Although it is almost impossible to perform 100% accurate technical analysis of the Chia cryptocurrency, on this advanced technical analysis tool of TradingView, you can view real-time aggregated XCH buying and selling ratings within the selected time frame. The summary of XCH/USD is based on the most popular technical indicators — moving averages, oscillators and pivots.
Below we have collected Chia (XCH)’s most reliable price predictions from popular prediction platforms.
According to WalletInvestor, the price of Chia will fall from US$270.875605 to US$13.807 within one year. This makes XCH a bad investment. The long-term profit potential is -94.90%.
When answering the question about whether Chia is a good investment, TradingBeasts responded in the affirmative. From the perspective of 2021, the price of the token is expected to reach US$551.212, which will increase to US$803.890 by the end of 2022.
In the DigitalCoin analysis, the price of Chia Network’s cryptocurrency will rise from today’s $260.387 to $1056.292 in the next 5 years. It will rise to US$423.428 by 2022 and continue to grow in 2023-2024. According to forecasts, Chia Network is a profitable long-term investment.
From the analysis cited above, it is clear that Chia (XCH)’s predictions are quite contradictory. There is no general consensus on the positive or negative trend of XCH price in the future. In fact, the possible future growth depends on various factors: announcements, new technological solutions for the Chia project, overall encryption environment, legal status, etc. We would like to remind you that you must conduct your own research (DYOR) before investing in any cryptocurrency.
Disclaimer: This article should not be considered as providing trading advice. The cryptocurrency market suffers from high volatility and occasional arbitrary fluctuations. Any investor should research multiple viewpoints and be familiar with all local regulations before investing.
SwapSpace is a cryptocurrency exchange aggregator that allows the exchange of more than 450 cryptocurrencies at fixed and floating interest rates. We collect the exchange rates of the major cryptocurrency exchanges in the market on the screen, allowing our users to compare and choose any option they like best. We will not add any fees to our partners’ rates, which makes transactions through SwapSpace profitable. The exchange time does not exceed 10 minutes from any of our comprehensive services. SwapSpace supports 24/7 work.
Passionate about crypto and want more news and price predictions every day?Join Exchange space blog!