It’s been an interesting week for cryptocurrencies, and it isn’t over yet. While Bitcoin (CCC:BTC-USD) and Ethereum (CCC:ETH-USD) have spent most of this week in the red, plenty of smaller cryptos have enjoyed some noticeable gains, leaving investors to marvel at these hard-to-predict trends. One name that’s been making headlines recently is Algorand (CCC:ALGO-USD). The open-source crypto platform surged to all-time highs yesterday, rising from $1.70 to an impressive peak of $2.66 before cooling off. The ALGO crypto, as InvestorPlace’s Mark Hake notes, is attempting to “power the convergence between traditional finance and decentralized finance,” essentially leading investors into the future by way of crypto markets.
ALGO has plenty of reason to be optimistic as it moves forward, as do investors. Last night saw the announcement that Korean crypto exchange Upbit would be listing the trading pair of the South Korean Won (KRW)/ALGO on the platform. As Hake also discussed, the ALGO crypto has been selected by the government of El Salvador as the official blockchain platform for its Bitcoin project.
Just how high can these trends take ALGO crypto, though? Let’s discuss.
Algorand Price Predictions: Where Is ALGO Crypto Going?
WalletInvestor calls Algorand an “awesome” one-year investment and notes its potential for the years ahead. Its forecasts include a long-term price increase with a price prognosis for 2026 of $7.759. The analysis expects the revenue from an ALGO crypto investment to increase by 328.44% within five years.
According to DigitalCoinPrice, Algorand will have reached $3.26 within one year and $3.80 within two. By 2025, it foresees ALGO crypto reaching prices as high as $5.11.
CoinQuora maintains a bullish stance on ALGO, claiming that the current bullish trends can drive the crypto as high as $3.50 by the year’s end, if not higher. It foresees a period of fast growth during the first half of 2022. Although this will likely slow down in the second, it foresees a bright future of ALGO.
On the date of publication, Samuel O’Brient did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.