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Taking everything into consideration, our Safemoon price prediction 2025 is still relatively optimistic about this token. As there doesn’t seem to be any real-world utility yet, which is why people buy Cardano and other useful cryptocurrencies, it’ll likely put off investors from placing large amounts of capital into the project. For that reason, we’d imagine a modest price rise to $0.000025 by 2025.
So what happened? And is there any hope for a recovery? To answer both, you have to look at quite a few factors.
We’ll go through the several factors that influence demand for a particular crypto, but before we do that, it’s important to note that cryptocurrencies don’t fit comfortably into our existing asset categories.
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Notes: This figure plots weekly averages of log price and log computing power (log hashrate) of Bitcoin and Ethereum over the period from August 2015 to January 2019. We normalise both time series by subtracting their mean and dividing by the standard deviation.
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The SafeMoon price is not joining in the broader market rally today and is down about 4%. Over a longer term view, however, SafeMoon is doing just fine. Since October, the SafeMoon price has rallied over 160%. The recent declines could be investors taking some profits off the table in a broader market that is trading at all-time highs.
“We are with venture capital [a stock market] list. The venture capital market is currently in very good shape, so we’ll probably follow that route, but we’re looking at both, “says Brooks.
Speculators in the crypto community continue to describe Brooks move as a stepdown, however, in terms of company size and brand awareness in the crypto space considering his office as CEO of Binance US previously.
The flag-wavers point to these and other concerns to warn that SafeMoon may not, in fact, be safe.
Yet in some ways, the crypto crowd were not wrong. In the almost 18 months since Covid-19 was declared a pandemic, the price of bitcoin has risen by about 525 per cent, from just under $8,000 to a three-month high just above $50,000 on Monday. XRP has climbed by a similar amount to trade around the $1.25 mark.
“They basically walked around showing people with Lambos and talking crap,” said Cora Harrison, a YouTube personal finance influencer. “It was just really random and not what you wanted to see from somebody to invest money with.”