AVAX price prediction: What’s next for Avalanche?
Avalanche had a great 2021, so what’s the latest AVAX price prediction for 2022 and beyond?
- AVAX: The early days
- AVAX gains momentum
- Avalanche crashes but climbs back
- AVAX price prediction 2022
The Avalanche (AVAX) coin is the cryptocurrency based on the Avalanche blockchain network. It aims to make things such as smart contracts and dApps (decentralised applications) easier and quicker to use.
According to the associated whitepaper: “Avalanche is a high-performance, scalable, customisable, and secure blockchain platform”. The platform is intended to prioritise scalability, security, decentralisation, governance and democratic principles, while being interoperable and flexible.
You can refer to our guide if you want to know more about what the coin does – in this article, we are going to look at how Avalanche has fared so far and whether we can make an AVAX price prediction.
Let’s start by taking a look at the Avalanche price history. Although prior performance is no indicator of future results, it does help contextualise things.
AVAX: The early days
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 the rest of September and finished the month at $4.32.
October 2020 saw something 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 2020. Despite the high coming after the low, the overall direction of travel was downward and the coin finished the month at $3.65.
November 2020 saw more dips below the $4 mark, although generally it was slightly positive. The coin reached a monthly low of $3.18 as 4 November became 5 November, although there was a rally over $4 towards the end of the month, with a monthly high of $4.40 recorded intraday on 25 November. However, the price soon dropped and AVAX closed the month at $3.69, slightly up from where it had been at the end of October.
December 2020 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 a joint monthly low of $2.79 on 24 December and 31 December. AVAX closed the month at $3.14.
AVAX gains momentum
The first few months of 2021 were a boom time for cryptocurrency generally 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 2021, 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 the coin would not fall below this mark for another six months. The coin ended the month well at $13.52.
If January 2021 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. An intraday low of $23.67 on 8 February was followed by an intraday high of $59.94 on 10 February 2021, a rise of more than 150% over the course of two days.
Ultimately, 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 2021 saw some 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. The intraday high of $39.39 on 20 March 2021 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, but the closing Avalanche price of $32.92 was higher, too.
AVAX/USD price history
|Mar 31, 2023||17.3238||0.1342||0.78%||17.1896||17.4059||17.1057|
|Mar 30, 2023||17.1913||-0.0810||-0.47%||17.2723||17.5080||16.8738|
|Mar 29, 2023||17.2722||0.5999||3.60%||16.6723||17.3649||16.6197|
|Mar 28, 2023||16.6722||0.2234||1.36%||16.4488||16.7972||16.2695|
|Mar 27, 2023||16.4488||-0.6361||-3.72%||17.0849||17.1166||16.0325|
|Mar 26, 2023||17.0848||0.2244||1.33%||16.8604||17.2521||16.8338|
|Mar 25, 2023||16.8602||-0.0743||-0.44%||16.9345||17.1189||16.3612|
|Mar 24, 2023||16.9347||-0.5825||-3.33%||17.5172||17.6155||16.6417|
|Mar 23, 2023||17.5177||0.7919||4.73%||16.7258||17.8329||16.5723|
|Mar 22, 2023||16.7262||-0.7008||-4.02%||17.4270||17.9100||16.2646|
|Mar 21, 2023||17.4277||0.7945||4.78%||16.6332||17.5360||16.3335|
|Mar 20, 2023||16.6334||-0.9030||-5.15%||17.5364||17.7703||16.5373|
|Mar 19, 2023||17.5368||0.5581||3.29%||16.9787||18.0749||16.9675|
|Mar 18, 2023||16.9787||-0.6688||-3.79%||17.6475||18.1728||16.8692|
|Mar 17, 2023||17.6473||1.8216||11.51%||15.8257||17.7586||15.6277|
|Mar 16, 2023||15.8253||0.2591||1.66%||15.5662||16.0726||15.2551|
|Mar 15, 2023||15.5662||-1.5858||-9.25%||17.1520||17.4521||15.3430|
|Mar 14, 2023||17.1529||0.6675||4.05%||16.4854||17.9193||16.1210|
|Mar 13, 2023||16.4854||0.2190||1.35%||16.2664||16.8033||15.4729|
|Mar 12, 2023||16.2659||1.6818||11.53%||14.5841||16.3520||14.3040|
Avalanche crashes but climbs back
Anyone making an AVAX coin price prediction at this point might have been forgiven for thinking this general consistency was here to stay, but things changed in May 2021. The price mainly hovered in the $30-$40 range, but came crashing down as Avalanche was hit by the great crypto day crash of 19 May 2021.
Things started well enough with an intraday high of $38.42, but the coin then more than halved in value, falling to a low of $18.68. There was then a recovery to close the day at $23.38. May 2021 closed at $18.16 and the slump continued, with June finishing at $11.96.
The situation got worse in July, when the coin dropped back below the $10 mark with an intraday low of $9.34 on 20 July 2021, before ending the month at $13.59.
August 2021 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 24 August 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.
What is your sentiment on AVAX/USD?
It broke $60 on 13 September 2021 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 it closed 14 October at $56.08.
By 22 November 2021, a new all-time high of $134.53 was recorded, but the price fell to $79.15 by mid-December. The coin made a substantial recovery towards the New Year and was valued at $114.16.
On 12 January 2022, the coin was trading at $96.68, but it then sank to $55.84 on 22 January. AVAX gradually recovered and hit an intraday high of $98.57 on 17 February 2022.
Global concerns over Russia’s invasion of Ukraine saw the overall cryptomarket dip in late February, but the news that AVAX was now accessible to users of the Wirex payment ecosystem bolstered the coin somewhat.
This news, however – even coupled with the news on 8 March that Avalanche had invested four million AVAX, worth about $290m at the time, in a bid to attract the likes of gaming and DeFi to the blockchain – could not stop the coin slipping to a little over $78.50 on 18 March 2022.
There was then a slight recovery, and it spent some time above $100 in late March and early April, with a peak coming on 2 April 2022 when it was worth $103.53.
This was followed by a downfall in price, exacerbated by China’s ban on cryptocurrencies, with AVAX dropping to $72.97 on 12 April 2022 before it spiralled down to close the month at $57.05. It then embarked on an upward trend, and by 5 May 2022 it was worth around $63.90.
Unfortunately, AVAX’s relative strength could not stop it from getting caught up in the general crypto maelstrom caused by the depegging of UST and the collapse of LUNA. By the afternoon of 17 May 2022, it was worth about $34.65.
This bearishness continued, with AVAX reaching a low of $21.47 on 27 May, but then things started to improve somewhat and, by 31 May, it was trading at around $25.85.
As the crypto bear market took hold in the wake of the cancellation of withdrawals on the Celsius crypto lending platform, it dropped down to $13.79 on 19 June 2022. After that, there was something of a recovery and it closed the month at $16.93.
On 4 July, it was back to being worth $18, and it went past $20 on 7 July, reaching a high of $20.95 the following day. There was then a slump, bottoming out at $16.62 on 13 July, but a recovering market saw it close the month at $23.75.
Early August saw the growth continue with the news that Binance Card holders would be able to access AVAX, helping it rise to a high of $30.50 on 8 August. There was then a slump, though, and, on 26 August, it was worth around $22.80.
At that time, there were just under 285 million AVAX in circulation out of a total supply of 404,229,626. This gave the coin a market cap of about $6.5bn, making it the 15th largest crypto by that metric.
With that out of the way, let’s take a look at what some analysts are suggesting as their Avalanche price prediction.
AVAX price prediction 2022
WalletInvestor is pretty pessimistic. The site’s AVAX price prediction for a year’s time suggests that the coin’s value will have dropped substantially to just under $1.67.
DigitalCoinPrice has an Avalanche price prediction for 2022 of $28.74, and thinks the coin should hit $33.21 in 2023 before dipping to $29.96 in 2024. The site’s AVAX price prediction for 2025 says it should rebound to stand at $43.75, then drop to $39.16 the following year. In 2027, the site predicts the coin will stand at at $50.88, while it should reach $70.31 in 2028 and close the decade at $88.69. The site thinks AVAX should reach $102.41 in 2030 and $112.98 in 2031.
Gov Capital has an AVAX price prediction for 26 August 2023 of $139.64, while it says the coin will be just below $296.14 a year later, and should stand at a fraction of a cent under $494.77 a year from then. On the same date in 2026 it should be just under $733.43, before it reaches just below $1,011.26 on 8 August 2027.
Finally, PricePrediction goes further into the future, making an AVAX price prediction for 2030 that says the coin’s average price in January that year will be $510.83, before reaching $653.01 in August and closing the year at $734.90. By the end of 2031, the site says that the coin will be worth an average of $1,057.47.
Is Avalanche a good investment?
It might be – the price forecasts are pretty bullish. However, we need to point out that predictions can be and often are wrong, so you should always do your own research before investing.
Can Avalanche reach $1,000?
It might – there are certainly some forecasts that say it will, although it won’t happen right away. Gov Capital, for instance, predicts AVAX will settle above $1,000 in late August 2027.
Still, you need to remember that forecasts often don’t pick up on things that can dramatically change the price trajectory of cryptocurrencies. Remember prices can go down as well as up – cryptos are highly volatile.
Where to buy AVAX coin
If you want to buy AVAX, then you can do so at a range of exchanges. Just remember to do your research first, and never invest more money than you can afford to lose.