Bitcoin Standard Hashrate Token Price Prediction: Is BTCST Coin a Good Investment?
Bitcoin Standard Hashrate Token Fundamental Analysis
BTCST (Bitcoin Standard Hashrate Token) — is a project aiming to become an intermediary between Decentralized Finances and Bitcoin hashrate assets. It is represented as a cloud mining service that provides participants with exposure to the mining rewards for a lower price. BTCST was set up on Binance Smart Chain in January 2021 and works as a base for the trading, lending, and borrowing protocols to build on. BTCST aims to increase the participation of Bitcoin mining in the open market and to expand the liquidity and productivity of the Bitcoin mining markets.
BTCST tokens are issued only when qualified miners decide to normalize Bitcoin hashrate and transform it into tokens. Then holders can access Bitcoin mining while being in the DeFi ecosystem and do it at any size, any time with cheaper prices, without running a mining rig. The rewards are paid in BTCB, a wrapped version of BTC on BSC, or in the native BTCST crypto. Each token has a 0.1 TH/s of Bitcoin mining capacity with 60W/Th productivity.
By staking their assets, the holders share their computational power. It allows them to receive the daily redistributions of Bitcoin mined. The snaps of participants’ balances and pool balances are checked every hour to define the rewards. The total supply is limited to the summarized amount of all the tokens staked set as 15 million tokens. On March 15, BCTST coin went through 1:10 token redenomination across the partner’s exchanges and wallets according to the STP-4 step proposal.
Any appearing material issues related to the project are resolved or initiated by the holders, miners, and differentiated token community. All the decisions, proposals, and their results are recorded within the chain.
Bitcoin Standard Hashrate Token Price Chart
According to the technical analysis of the BTCST price, it has been following bearish tendencies since its launch. Only right after the launching token price was growing, reaching an all-time high of $93 on April 15, 2021. After that, it started to drop with slight corrections, and then it has stabilized at the level of $17–20 per token.
Last month token prices started to grow again and have increased more than 100% since the beginning of September. But the trend lasted just for two days and then started to drop again. BTCST price predictions are mainly not too optimistic. According to most charts, the token price is not likely to grow, and it is considered possible for it to completely drop to 0 at any moment. The maximum expected price for the token by the end of 2021 is $87.
Bitcoin Standard Hashrate Token Technical Analysis
Despite the fact that 100% accurate technical analysis for Bitcoin Standard Hashrate Token cryptocurrency is hardly possible, on this advanced technical analysis tool by TradingView, you can see the real-time aggregated BTCST buy-and-sell rating for a selected timeframe. The summary for BTCST/USD is based on the most popular technical indicators — Moving Averages, Oscillators, and Pivots.
Bitcoin Standard Hashrate Token Price Prediction
Below we have collected the most reliable price projections for Bitcoin Standard Hashrate Token (BTCST) from popular forecast platforms.
#1. WalletInvestor BTCST Price Prediction for 2021, 2023, 2025
According to WalletInvestor, Bitcoin Standard Hashrate Token price will drop from $42.275772 to $10.350 in one year. That makes BTCST an bad investment. The long-term earning potential is -75.52%.
#2. TradingBeasts BTCST Price Prediction for 2022
Answering the question about if BTC Standard Hashrate Token is a good investment, TradingBeasts say a resounding no. In the 2021 perspective, this coin price is predicted to reach $36.005 with a growth to $65.822 by the end of 2022.
#3. DigitalCoin BTCST Price Forecast for 2021, 2022, 2023, 2025
In DigitalCoin analysis, the price of Bitcoin Standard Hashrate Token cryptocurrency will rise in the next 5 years starting from $42.7243624 as of today’s price to $163.7537047. It will go up to $67.7983768 by 2022 and continue its growth in 2023–2024. Based on this forecast, Bitcoin Standard Hashrate Token is a profitable long-term investment.
As it can be clear from the analysis cited above, Bitcoin Standard Hashrate Token (BTCST) projections are rather contradictory. There is no universal consensus either about positive or negative future BTCST price movements. Indeed, the future possible growth depends on various factors: announcements, new technological solutions of the Bitcoin Standard Hashrate Token projects, the crypto environment in general, legal position, and so on. We kindly remind you that before investing in any cryptocurrency, it is essential to do your own research (DYOR).
Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
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Originally published at https://swapspace.co.