Cosmos (CCC:ATOM-USD) is capping off a stellar week for the crypto with more strong gains. The ATOM crypto was up nearly 7% today as part of a 25% increase early into the year, approaching a new all-time high. Cosmos price predictions are flying as investors attempt to explain its recent heat-up.
What has Cosmos climbing lately?
Cosmos’ recent surge in demand is likely attributable to a few different developments. Last month, it rolled out Evmos, an application-agnostic chain connected to the crypto. The protocol allows Ethereum-based (CCC:ETH-USD) assets and projects to easily move between the Cosmos architecture. This is a substantial addition to the ecosystem, as there was previously no interconnection between the two blockchains.
This likely caused a chain reaction (no pun intended) of positive momentum. On Dec. 29, the Cointelegraph crypto evaluation tool, VORTECS, picked up a bullish outlook on the crypto. As such, one could view its recent growth as a product of the strong market indicator. In the six days following the increased VORTECS score, ATOM saw a 67% increase.
Cosmos’ claim to fame is its intent to solve structural issues plaguing many of the world’s largest cryptos. Per CoinMarketCap, the ATOM crypto attempts to solve “‘slow, expensive, unscalable and environmentally harmful’ proof-of-work protocols, like those used by Bitcoin, by offering an ecosystem of connected blockchains.”
With Cosmos currently sitting at around $41 per coin, let’s see what the experts think about the crypto’s long-term potential.
Cosmos Price Predictions
Wallet Investor believes this coin will continue to see strong growth this year. They have a one-year forecast of $56.64 per coin and a five-year price target of $143.89.
Coin Price Forecast is unabashedly bullish on the ATOM crypto as well. They have a year-end price target of $84.06, for a 101% year-to-date (YTD) increase. Interestingly, for 2023, they believe the coin will likely peak mid-year at $109.28 per coin before slipping back to $98.62 to end the year.
Finally, Cryptonewsz is surprisingly bearish on the coin. They have a 2022 price target of $38, dollars less than its current price. By 2023, they believe the coin will trend around $42, foreseeing interference from government regulation.
On the date of publication, Shrey Dua did not hold (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.