ATOM coin price prediction: Can Cosmos expand?
With Cosmos a hot topic, let’s look at the Cosmos (ATOM) coin price prediction
- From the Cosmos whitepaper
- ATOM price history: Times of growth
- ATOM price history: Volatility in 2022
- ATOM coin price prediction
The Cosmos (ATOM) coin is the native token of the Cosmos system. This network dubs itself as blockchain 3.0, and aims to get different blockchains linked together to make transactions quicker, cheaper and more practical.
While past performance is no indicator of future results, knowing what the coin has done in the past can be useful when it comes to making a Cosmos price prediction, so let’s take a look at the foundations and the history of ATOM coin.
From the Cosmos whitepaper
The Cosmos whitepaper outlines the developers’ principles and application of “the Internet of blockchains”, focusing on solving “gross energy inefficiency, poor or limited performance, and immature governance mechanisms”.
The document states: “The hub and zones of the Cosmos network communicate with each other via an inter-blockchain communication (IBC) protocol, a kind of virtual UDP or TCP for blockchains. Tokens can be transferred from one zone to another securely and quickly without the need for exchange liquidity between zones.”
ATOM price history: Times of growth
When Cosmos (ATOM) first came onto the open market in 2019, the price of the crypto was much less than it is now. On 16 March 2019, the coin was trading at around $7.39. That was pretty much as good as it got for the next year or two, as it then slid down in price, spending most of the latter half of 2019 between $3 and $5.
Things got worse for ATOM in 2020, when a combination of factors, not least the start of the Covid-19 pandemic, saw the price fall, reaching a record low of $1.13 on 13 March 2020. There was some recovery over the rest of 2020, and the coin reached a high for the year at $8.52 on 23 August. That high was not to be repeated, though, and Cosmos closed the year at $6.49.
In January 2021, ATOM saw some growth. The previous year’s high was broken on 16 January when the coin hit an intraday high of $9.51, and the $10 barrier was broken when it hit a monthly high of $10.13 on 19 January 2021. There was some pullback, but the month’s closing price of $8.14 was still a little over 25% higher than where it had been at the end of December.
February 2021 saw Cosmos get caught up in the overall bull market that was engulfing crypto during the first few months of the year. The $10 mark was broken again when 5 February saw an intraday high of $12.66. The growth did not stop there, with the $20 barrier broken on 12 February and a monthly high of $26.42 on 16 February 2022. There was some regression to a closing point of $17.62. This was more than double January’s close.
In March 2021, while the monthly high – $24.52 intraday on 18 March 2021 – was lower than February’s, the price stayed around and above the $20 mark, with a monthly low of $16.76 on 25 March. While the month’s close of $19.11 showed a comparatively modest gain month-on-month of just under 8.5%, there was still growth and sustainability.
In April 2021, the coin again stayed pretty much in the $20 region, with the monthly high of $28.49 on 15 April. At this stage, an ATOM coin price prediction would have looked bullish and optimistic.
ATOM price history: Volatility in 2022
May 2021 saw some growth, followed by decline and collapse. The coin broke the $30 mark to hit a monthly high of $32.14 on 7 May, but soon went back down, and it was standing at $23.49 on 19 May 2021.
Then the market fell drastically in the great crypto day crash of 19 May, and ATOM hit a low of $9.87, a fall of more than half in a matter of hours. There was then some recovery and it closed the day at $13.94. The rest of the month remained bleak, and Cosmos closed May at $13.99, down almost 50% month-on-month.
June and July 2021 were similarly bad, with stagnation an issue for the coin’s investors. June closed at $12 – a loss of 14% – masking the fact that the coin had dipped below $10 at points that month. July saw it more or less rooted on the spot, closing at $12.15.
In August 2021, the crypto market started to recover, and Cosmos was part of that. It broke through $20 for the first time in three months when it reached $20.39 on 19 August, and it scored a monthly high on 31 August 2021 of $26.17 before dropping down to close the month at $22.87, a monthly rise of an encouraging and impressive 88%.
September 2021 was a month where the previous period’s problems were seemingly cast aside. The $30 mark fell, this time in a manner that seemed sustainable, on 10 September 2021. The crypto went above $40 on 18 September before reaching an all-time high of $44.70 on 20 September. There was, inevitably, a retreat from this level but the month’s close of $36.21 was still a monthly rise of more than 58%.
In October 2021, the price was consistent and encouraging, staying above the $30 mark throughout the month, with a high of $43.22 on 26 October and a closing price of $37.26, up slightly from September’s close. November, though, saw some problems develop. A monthly high on 4 November was $39.22, and the price slowly declined from there, standing at around $29 on 30 November before dipping further to $21.21 on 14 December 2021, the lowest it had been since August.
However, there was a substantial recovery, and the coin reached $43.61 on 16 December 2021, just $1.09 lower than its previous all-time high. The coin closed the year at $32.47. By 17 January 2022, the token met an all-time high of $44.45, but has been stuck in a bearish trend since.
On 9 March 2022, there was an unsuccessful launch of the Evmos chain, which suffered from critical security vulnerabilities in the initial stages. The chain was supposed to allow for transactions between Ethereum and Cosmos, but the market did not respond well to the failed launch and Cosmos (ATOM) dipped in value.
However, the coin regained some momentum in the following weeks. Notably, on 6 April 2022, asset manager Greyscale Investments announced a quarterly rebalancing of its crypto funds. In diversifying its Grayscale Smart Contract Platform Ex-Ethereum Fund, Cosmos (ATOM) was added, but no other cryptos were removed from the project.
The Rho upgrade, which is expected to be released in stages throughout 2022 and 2023, adds CosmWasm to the hub. This is expected to improve interchain security and ease of use for developers and users at some stage in August this year.
Despite numerous on-chain developments, the prolonged bear market has kept the coin in a downtrend. The token closed out the month of May at $10.29, a substantial retreat in price. Further lows of $5.59 were recorded in mid-June.
However, as the Cosmos ecosystem grows, more support can be expected for the ATOM token. On 22 June, dYdX, one of the most popular DEXs and derivatives exchanges, announced that it will be setting up its own chain in Cosmos, as part of the dydx version four update.
As of 8 August 2022 and at the time of writing, the ATOM token was trading at $11.78, with a market cap of around $3.38bn and is the 26th-largest crypto by that metric.
With that out of the way, what are people forecasting for the ATOM coin price? It is worth keeping in mind that predictions are often wrong and, in the case of longer-term crypto forecasts, which are often made by an algorithm, they can change at any moment.
ATOM coin price prediction
PricePrediction says the maximum price in 2022 should be $13.08, while a year after that it should reach an average of around $18.54. The site’s forecast for 2024 is $26.93, while 12 months on from then it says it will be about $39.51. In 2026, it thinks the average price of Cosmos will be $56.31, and the following year PricePrediction suggests it will be around $78.70.
In 2028, the average price is forecast to be $113.23 and ATOM should rise to $159.78 the following year, the site suggests. Its Cosmos price prediction for 2030 sees the coin reach an average of $236.75.
Gov Capital makes a Cosmos coin price prediction which suggests it should be worth about $39.46 in a year’s time. The site’s Cosmos price prediction for 2025 suggests it should break the $100 mark in July of that year. In five years’ time, the site suggests, the coin could reach $236.72.
WalletInvestor has a Cosmos price prediction for 2022 that suggests the coin will descend to $0.96 in 12 months’ time, suggesting it is a “bad long-term (one-year) investment”.
Finally, DigitalCoinPrice also predicts a very bullish short-term sentiment, suggesting the coin could reach as high as $16.69 in September, representing an upswing of over 40%. In 2025, it suggests the coin could be worth an average of $23.51; and by 2030, it thinks the coin could be worth an average of $54.70.
Is Cosmos a good investment?
It might be. Cosmos certainly performed very well in 2021, shooting up in value. However, the token is currently trading down over 70% from its all-time high, which was recorded in January this year.
You will need to do your own research and never invest more than you can afford to lose.
Will the ATOM price go up?
It might. The market was extremely bullish in 2021, and in 2022 ATOM showed perseverance in the market-wide downtrends. But remember that cryptocurrencies can be highly volatile, and prices can go down as well as up.
Should I invest in Cosmos?
This is a question only you can answer. Cryptocurrencies can be highly volatile and prices can definitely go down as well as up, so you will need to do your own research and make sure not to invest more money than you can afford to lose.