Crypto price forecasting means predicting what the future price of a currency will be, so you can trade your BTT to BTC (or any other available coin pair) and make a profit. You need to determine the potential profits from a specific cryptocurrency as well as the risks. Many people have made profits with crypto forecasting in the past, but will you have success in the future? Here we’ll take a look at what experts are forecasting for Reddcoin, and whether it’s a worthwhile investment for your portfolio.
What Is Reddcoin?
Reddcoin is the digital currency designed for social media. It’s built for easy tipping and donating on social platforms such as Reddit and Facebook. The idea is to allow you to instantly tip any person or creator on any social platform using browser integrations or their mobile app (coming soon).
Reddcoin has adjusted its technology to make it suitable for small, cheap transactions. Transaction time on the Reddcoin blockchain is 10x faster than Bitcoin at just 60 seconds. Transactions are also free, with the option of low-fee priority transactions. Reddcoin already has 60,000 users called “ReddHeads” around the world in over 50 countries.
The company behind Reddcoin, Redd, is a volunteer organization. The company is built on foundational principles of inclusion, empowerment, and caring for one another. Redd is also developing some interesting applications to run alongside Reddcoin. These include ReddBots for automated tipping and ReddWallet for storing and staking Reddcoin.
RDD Performance
Reddcoin has had a very rocky ride since its inception in 2014. The price started at around $0.00003 in 2014 before rocketing up 100x in 2017, then another 10x in 2018 for a total 1,000x gain. That’s more than Bitcoin gained over the same period.
Then, the story took a downward turn. The currency fell consistently through 2018 to hit $0.001. Since then, it has remained relatively consistent compared with other cryptocurrencies. Apart from one bull run in 2021, it has traded mostly between $0.0005 and $0.001 for the last four years. It is currently trading in that range, at about $0.0005.
RDD Price Forecast
Now let’s look at what experts are saying about Reddcoin and make a Reddcoin price prediction for 2022 and 2023.
Price Prediction for 2022
Many crypto experts and prediction sites are assessing that the crypto market is currently in a slump. They predict that, along with many other cryptos, Reddcoin will jump in price by the end of 2022 by a substantial amount, especially compared to traditional investments. Here are price targets from two popular prediction sites:
- PricePrediction — 2022 Reddcoin price: $0.00089596 (50%+ increase)
- DigitalCoinPrice — 2022 Reddcoin price: $0.000749 (23%+ increase)
The main reason for these predictions is an overall cryptocurrency market recovery this year to the levels we saw in 2021.
Price Prediction for 2023
Things are projected to get even better in 2023. Here’s a sample of Reddcoin price predictions:
- PricePrediction — 2022 Reddcoin price: $0.001 (65%+ increase)
- DigitalPriceCompare — 2022 Reddcoin price: $0.000832 (38%+ increase)
- Gov.Capital — 2022 Reddcoin price: $0.0036 (600%+ increase)
These predictions are based on a combination of past performance, expert opinions, and deep learning AI algorithms.
Should I Invest in Reddcoin Now?
If these predictions are true, then it certainly looks like a good idea to invest in Reddcoin. However, these large price increases are possible if at least one of the following two things happens:
- The crypto market hits another bull run overall, pushing up Reddcoin with it.
- Reddcoin manages to get breakout traction as the global social media tipping currency.
Experts are convinced one or both of these will occur. However, investing in crypto always comes with risk, especially when investing in smaller tokens such as Reddcoin. But, the potential for upside is there. Just ensure you balance your investment portfolio to manage your risk, and you’ll be able to build a sustainable investment practice that may include Reddcoin.