Is the QTUM idea good enough to stay afloat? Time shows mixed results. But does that mean that with QTUM everything is finite? Of course not! We will discuss step-by-step perspectives, technical analyzes, and positive and negative scenarios for the altcoin.
What is the idea of QTUM?
Quantum is a hybrid platform that allows applications and smart contracts to be built using blockchain technology. The developers tried to combine the best of Bitcoin and Ethereum in one project. And they did pretty well.
A decentralized method of storing application data is a great alternative to servers with their vulnerabilities. This option ensures both the security and the security of data. Smart contracts are used successfully in real life and are considered contacts of the future. QTUM is focused on mobile devices, which makes it progressive too.
At the same time, the platform is only gaining momentum. For 2019 it is planned to expand the project and launch new services, the details of which are described in the roadmap on the project’s official website.
As a result, QTUM sounds like a really promising project with great potential. This means that you can not only use the possibilities of blockchain technology, but also benefit from its advantages. In other words, it all sounds very encouraging, but in fact the price of the coin fell below $ 3. Why this?
A good indicator of the cryptocurrency community’s interest in a digital asset is its popularity in the press. Speaking of QTUM, it feels like a lack of popularity. There isn’t that much news, reviews, and other material on altcoin, and this suggests weak media interest. The last major news was the addition of the coin to the popular Quantfury marketplace.
Regarding building that collaboration, Miguel Palencia, CIO of the Qtum Foundation said:
We understood that our community was looking for seamless access to global markets, and we knew that Quantfury, a platform known for transparency, ease of use, and no fees of any kind, was for them.
This is really good news that should spark a little interest in cryptocurrency and reassure asset owners that the project will be developed. Otherwise, the lack of bad news is good news. And that is exactly the case. The self-confident steps of the developers embody and develop the platform, but not everything is done on time.
Current situation of QTUM
Today QTUM trades within $ 3. Difficult to call the price high even in the context of Quantum’s history, although these are the best results in the past 5 months. The total market capitalization is $ 260 million. With this indicator, the coin ranks 29th among all cryptocurrencies in terms of capitalization. To get the bigger picture, it is worth highlighting the full history of the QTUM / USD pair rate:
When it entered the market in July 2017, the cost of a coin was $ 5.2 with a capitalization of $ 268 million and a 20th place in the Coinmarketcap rating.
For the next 5 months, QTUM traded in the region of $ 10-14 per unit.
In December 2017, the cryptocurrency passed the USD 50 mark and hit its all-time high.
Throughout 2018, there was an active drop in the price of QTUM, ending in the $ 2.1 range.
The last growth was in late March and early April, with costs exceeding $ 3.
Now the value of the QTUM / USD pair is in a zone of USD 3. It is important to understand that like all altcoins, QTUM depends on the wellbeing of Bitcoin. If you compare the charts of the major cryptocurrency and QTUM, you can easily see their similarity. And certainly not that BTC repeats the movement. So it happened that Bitcoin, with a market dominance of 51.9%, affects all cryptocurrencies. All previous and current results of QTUM are a consequence of this fact.
When analyzing the cryptocurrency, it is also worth evaluating competitors. We’ve already talked about three QTUM competitors: NEO, Cardano and Lisk. When things are similar for Lisk, NEO and Cardano are actively gaining momentum and can easily grab the attention that was directed to QTUM.
Positive QTUM price forecast for 2019
Several indicators speak in favor of QTUM. Charts show that after a long decline, the value of the coin stabilized and buyers managed to defend it at a level of $ 1.5 in December. After that, the gradual strengthening of the coin began.
Despite the 12% drop in prices over the past week, the charts suggest QTUM will strengthen later to a $ 3.5 mark. The entry into the Quantfury market, as well as the growing interest of the audience, predict an increase in trading volume and the subsequent growth of the coin. However, there is a chance it will pull back to $ 2.5 or even $ 2, followed by an increase to the stated value.
QTUMUSD charts form TradingVeiw
Most analytical algorithms (DigitalCoinPrice, Trading Beasts, Crypto Ground) forecast active growth for Quantum in 2019. In her opinion:
The minimum price for QTUM in December is $ 4.5.
The maximum price is over $ 8.
There is a slim chance of a breakthrough beyond USD 10, but such a jump can only be expected with active growth from BTC.
QTUM price forecast: negative scenario
As always, the main source of skepticism is Wallet Investor (WI). The service forecasts a 77% decline in coins to $ 0.7 per unit in 2019, despite short-term growth in the coming weeks. Even with the bullish trends in the market of late, the WI forecast points to a return of the bears, which will lead to trading difficulties and a gradual fall in prices.
In support of this opinion, it is worth including TradingView technical analysis indicators that, even given the growth, recommend selling rather than buying the asset. We also find that it is quite difficult to make predictions about the growth of altcoin after 2020. The current state of affairs and the pace of development suggest that the coin may simply not make it to that date, which would be pretty sad given the outlook for the 2000 project. In our opinion, the first half of 2019 will be decisive.
QTUMUSD metrics make up TradingVeiw
Quantum is an interesting project that can bring real benefits to businesses and people. However, high competition in the niche and blank results make the future of the altcoin dubious. In many ways, the fate of QTUM rests in the hands of Bitcoin and its movement. To a lesser extent – in the hands of the developers, and especially the marketing department.
2019 will be a pivotal year for QTUM if buyers manage to defend costs of at least $ 2.5. A gradual increase is expected throughout the year, but when sellers cross that threshold, real drama can flare up. Whether you are a participant or an observer – you decide for yourself.
“Fitness athlete and bodybuilder holding dumbbell” image from 123rf