Bibox price prediction: What is Bibox Token (BIX)?
Can BIX break out of its ongoing rut?
Contents
What is Bibox Token (BIX)? Bibox is a long-serving crypto exchange. Let’s take a look at it, and also evaluate Bibox Token price predictions.
Bibox Token explained
In the world of cryptocurrency, perhaps the most important thing that you can do with your crypto is buy, sell, and trade it. It is, after all, this ability to be part of a market which gives cryptos their value. The concept of the crypto exchange is, therefore, crucial to the entire ecosystem. One crypto exchange is Bibox. Founded in 2017 by the New York-based Wanlin Wang, currently a partner in Blockwater Capital, and Kevin Ma from Beijing, the system describes itself as the “first AI-powered digital asset exchange”, in effect a kind of cross between a centralised and decentralised exchange (DEX).
Every crypto platform needs to have its own native token, and the Bibox exchange has BIX, also known as the Bibox Token. The token is based on the Ethereum blockchain, and helps to power the network. People who hold BIX are able to vote on and put forward proposals about the system. Holders can also get a discount on fees generated by the system.
BIX price history
It is now time to cast our eyes on the Bibox Token price history. While past performance should never be taken as any kind of guarantee of future results, knowing what BIX has done in the past can provide some very helpful context if we either want to interpret a Bibox Token price prediction or make one of our own.
BIX first came onto the open market in late 2017, and its all-time high came on 7 January 2018, when it traded at $4.08. By 2020, however, with markets of all kinds across the world hit by Covid-19 lockdowns, the token mostly traded below the $0.10 mark.
In early 2021, it reached a periodic high of more than $0.30. After the Great Crypto Day Crash of 19 May 2021 it fell below the psychologically important $0.10 mark, and on 20 July it sank to an intraday low of $0.05085. It rose briefly to a high of $0.1122 on 6 September but by the end of the month it was worth $0.05415. After more ups and downs it ended up closing the year at $0.04014
The token stayed around this level for most of the first half of 2022, but the depegging of the UST stablecoin and the collapse of the associated LUNA cryptocurrency in May saw it close the month at $0.02713. The cancellation of withdrawals on the Celsius crypto lending platform confirmed that cryptocurrency was a bear market, and Bibox Token sank to an all-time low of $0.02239 on 18 June. On 11 July, it was worth about $0.024. Since the start of the year, BIX has lost around 45% of its value. However, it has actually outperformed the crypto market as a whole, which has dropped by a little over 57% since 1 January 2022.
At this time, there were about 85.4 million BIX in circulation, out of a total supply of just under 326 million. This gave the token a market capitalisation of a little over $2m, making it the 1,189th-largest crypto by that metric.
Bibox Token price prediction
With that out of the way, it is now time to take a look at Bibox Token price predictions. It is important to note that price forecasts, especially when it comes to a commodity as volatile as cryptocurrency, are very often wrong. We should also point out that long-term crypto price predictions are often made using an algorithm, which means that they can change at any moment.
First, CoinArbitrageBot makes a Bibox Token price prediction for 2022 that says it should reach $0.238 this year, roughly ten times where it was at the time of writing, before climbing to $0.42 next year. In 2024, the token should be worth about $0.686. In 2025, the site says, BIX should break through the $1 barrier to trade at around $1.11.
PricePrediction.net’s BIX price prediction says that the token should get to $0.031 in 2022 before climbing to reach $0.045 in 2023 and $0.061 in 2024. The site’s Bibox Token price prediction for 2025 sees it at $0.09, with it rising to $0.13 the following year and $0.18 the year after that. In 2028, the token should be worth $0.26, with it continuing its upward movement to $0.37 in 2029 and $0.55 at the start of the next decade. In 2031, the token should be worth $0.80, the site thinks.
DigitalCoinPrice has a Bibox price prediction that says it should get to $0.0308 this year, $0.0349 next year and $0.0361 the year after that. In 2025, BIX should be worth $0.0472, the site predicts, before it drops to $0.0429 the following year. In 2027, the token should make a recovery to $0.0553 before it gets to $0.0754 the following year and closes the decade at $0.0981. The site makes a Bibox Token price prediction for 2030 of $0.11, before it hits $0.12 the following year.
Finally, WalletInvestor makes a rather bearish Bibox Token crypto price prediction, arguing that the token will fall over the next year or so, reaching $0.00145 by July 2023.
Final thoughts
While Bibox is a pretty long-lasting crypto exchange, in the four and a half years or so since its inception, it has not really broken through to become one of cryptocurrency’s heavy hitters. With it being as comparatively old as it is, it might be worth wondering whether it can become one of the larger exchanges and how exactly it plans to do that.
The other issue that follows from that is the history of the BIX token. While there are quite a few prominent crypto coins and tokens which enjoyed their all-time high during the bubble of late 2017 and early 2018, the disparity, not just between the price of BIX then and its current value, but also of the difference between its all-time high and the best it got to during crypto’s early 2017 bull run, might give someone pause for thought.
Again, it is a crypto that has not done terribly much in the time it has been trading, so we do have to wonder what it can do to boost itself and, at least, enter the top 1,000 biggest cryptocurrencies. As always with crypto, it is important to be careful and act with due caution and consideration before investing in BIX.
FAQs
How many Bibox Token are there?
On 11 July 2022, there were about 85.43 million BIX in circulation, out of a total supply of 235,972,808.
Is Bibox Token a good investment?
It can be argued, at least by proponents of buying during dips, that now might be a good time to invest in BIX. That said, some caution is needed. We have seen the price of BIX go down quite a bit over the last 12 months. Remember, cryptocurrencies can be highly volatile and prices can go down as well as up. You will need to do your own research and never invest more than you can afford to lose.
Will Bibox Token go up?
Supporters of buying during the dip might well tell you that cryptos like BIX, which has lost value over the last 12 months, are worth looking into. On the other hand, it has been in a bearish place for some time now. Regardless, you will need to remember that cryptocurrencies can be highly volatile and prices can go down as well as up. You will need to do your own research and never invest more than you can afford to lose.
Should I invest in Bibox Token?
This is something that you will have to work out for yourself. Before you do so, though, you will need to do your own research, remember that prices can go down as well as up, and never invest more money than you can afford to lose.
