AVAX price prediction: Is avalanche a good investment?

Avalanche is starting to snowball, so what’s the AVAX price prediction now?

AVAX logo                                 
The avalanche (AVAX) logo
                                

Contents

The avalanche (AVAX) coin is the cryptocurrency based on the Avalanche blockchain network. It aims to make things like smart contracts and dapps easier and quicker to use. You can refer to our guide if you want to know more about what the coin does. In this article, we are going to take a look at what avalanche has done and whether we can make an AVAX price prediction. 

But before we do that, let’s have a look at the avalanche price history. Although prior performance is not an indicator of future results, it does help contextualise things.

AVAX: The early months

When AVAX was launched, the coin’s price was low enough that its recent successes might not have been picked up by an avalanche coin price prediction. For instance, on 22 September 2020, it opened the day at $4.99. It quickly more than doubled in price, reaching an intraday high of $11.46 before dropping back down to close the day at $5.23. By close of the following day it was down to $4.12, having dropped below $4 to an intraday low of $3.98. It remained above that mark for what little remained of September 2020 and finished the month at $4.32.

October 2020 saw a bit of a slump. While it pivoted around the $4 mark for most of the month, it did spend a fair bit of time below it. The monthly high was $4.54, which it reached intraday on 13 October, while the low was $3.23, intraday on 7 October. Despite the high coming after the low, the overall direction of travel was down and the coin finished the month at $3.65.

November 2020 was another month of journeys below the $4 mark, although in total it was slightly positive. The coin reached a monthly low of $3.18 as 4 November became 5 November, though there was a rally over $4 towards the end of the month, with a monthly high of $4.40 being recorded intraday on 25 November. However, The price soon dropped and closed the month at $3.69, which was slightly up from where it had been at the end of 31 October.

December saw a real downward trajectory, with the price not breaking $4 at all and a monthly high intraday score of $3.82 from 3 to 4 December 2020. The coin even fell below $3 at some points, with joint monthly lows of $2.79 on 24 December and 31 December. AVAX closed the month at $3.14. But things were about to change, the start of the new year would provide optimism to an AVAX coin price prediction for 2021. 

Things snowball

The first few months of 2021 were a real boom time for cryptocurrency, and avalanche got caught up in the action. It broke back through the $4 barrier on 5 January, scoring an intraday high of $4.34. This was the spur for greater things down the line. On 8 January, the coin rose above $5, ending the day at $5.80 and the following day it closed at $7.22. It reached $8.20 intraday on 12 January and $9.53 on 14 January. The double figure barrier was broken on 16 January when it hit an intraday high of $13.36, and would not fall below $10 for another six months. The coin ended the month well at a $13.52.

If January was encouraging, February was at least partially outstanding. The $20 barrier was broken when AVAX closed 7 February at $24.21, but that was not the end of things. An intraday low of $23.67 on 8 February was followed by an intraday high of $59.94 on 10 February, a rise of more than 150% over the course of two days. Ulitmately that price boost was just a spike and it closed the month at $23.82. Up from the previous month, but nowhere near the high of 10 February. 

March and April saw consolidation. February’s high was a pinnacle that AVAX was not able to match, but things were still better than they had been in January and earlier. 20 March’s intraday high of $39.39 was the best price that month and it closed out at $28.73. April’s direction of travel was broadly upwards, not only was the monthly high of $40.80 on 15 April better than March’s best price, the closing avalanche price of $32.92 was too. 

AVAX price history
AVAX price history chart - Credit: Currency.com

Avalanche crashes but climbs back

Anyone making an AVAX price prediction at this point might have been forgiven for thinking this general consistency was here to stay, but things changed in May. The price mainly hovered in the $30s but came crashing down as avalanche was hit by the great crypto day crash of 19 May. Things started well enough, with an intraday high of $38.42, but it more than halved falling to a low of $18.68. There was a recovery to close the day at $23.28. May closed at $18.16 and the slump continued, with June finishing at $11.96. It got worse in July, when the coin dropped below $10, with an intraday low of $9.34 on 20 July before it closed at $13.59

August ended up seeing a change for the better, with a massive rally towards the end of the month. Early on 16 August, the AVAX price was $18.77, but by August 24 it was hitting an intraday high of $58.98, a more than threefold rise in just over a week. The coin closed the month at $39.49, before going back up in September. It broke $60 on 13 September when it reached an intraday high of $60.75, hitting an all-time high intraday 10 days later when it was worth $79.52. However, the price was on the turn and it closed the month at $66.77. Avalanche continued to drop and in the early evening on 14 October it was worth $57.26.

With that out of the way, let’s take a look at what some people are putting as their avalanche price prediction. 

AVAX price prediction

WalletInvestor is pretty optimistic. The site’s AVAX price prediction for a year’s time is just over $94.48, while it says the coin will reach $243.36 in five years’ time.

DigitalCoinPrice says that avalanche should reach $90.91 at the end of the year. The same site says it will be worth $108.92 in October 2022, before dropping down to $103.38 12 months from then, and going back up to $126.31 in October 2024. The site’s AVAX price prediction for 2025 sees it stand at $182.22 in October that year, with it going to $187.97 12 months from then before dropping to $172.64 a year after that and rallying to $282.32 in October 2028.

Gov.capital believes AVAX should be worth about $70.41 at the end of 2021. It also suggests that it should be at $173.47 on 14 October 2022, about $365.37 a year from then, and about $625.86 12 months after that. Its prediction for 14 October 2025 is about $946.75 and for 14 October 2026 it says AVAX should be around $1,333.43.

Finally, priceprediction.net goes even further, making an AVAX price prediction for 2030 that says the year’s average price will be $1,541.57.

FAQ

It might be. The price forecasts are pretty bullish. However, we need to point out that predictions can be wrong, so you should do your own research before investing.

It might do. There are certainly some forecasts that say it will, although it won’t happen right away. Still, you need to remember that forecasts often don’t pick up on things that can dramatically change the price trajectory of cryptocurrency, which is always very volatile. Remember prices can go down as well as up.

You can buy AVAX on a range of exchanges. We don’t have it at Currency.com yet, but we will let you know if and when we do. Just remember to never invest more money than you can afford to lose. 

Further reading: Currency.com launches personalised OTC crypto trading service

The material provided on this website is for information purposes only and should not be regarded as investment research or investment advice. Any opinion that may be provided on this page is a subjective point of view of the author and does not constitute a recommendation by Currency Com Bel LLC or its partners. We do not make any endorsements or warranty on the accuracy or completeness of the information that is provided on this page. By relying on the information on this page, you acknowledge that you are acting knowingly and independently and that you accept all the risks involved.
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