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By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. Chances are, further market volatility could keep it moving lower. Having analyzed Algorand prices, cryptocurrency experts expect that the ALGO rate might reach a maximum of $0.339966 in August 2023. Therefore, prices tend to collapse through technically important thresholds, in this case, ALGOs Fibonacci retracement levels. The community controlled subreddit for the carbon-negative Algorand blockchain and cryptocurrency. So with that, Algo should be somewhere in the 12-14 range in my opinion. The Motley Fool owns and recommends Ethereum. Algorand's pure proof-of-stake protocol is setting a new standard for blockchain. Why Algorand can hit $3 over the next few weeks - FXStreet So, other than hitting a home run in El Salvador, how does Algorand get its groove back? It's been a rather bearish week for most cryptocurrencies, with the aggregate value of the crypto market dropping by approximately 7.5% from the close of the stock market last Friday. Monopoly is a situation in which a single company or group owns all or nearly all of the market for a given type of product or service. Publications where hes appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. Founded by Turing Award-winning cryptographer Silvio Micali. One of the reasons for that is basically anyone can choose to be a. The Algorand cryptocurrency is the new-generation blockchain network. It will be traded for at least $5.51, with the possible maximum peaks at $6.78. Download Changelly mobile app on your iOS or Android device. We are bringing our NFT series to the ALGORAND blockchain to help raise awareness on how cool ALGORAND is! Could it get to $2 in 2022? Algorand Is a Great Small-Cap Altcoin for Your Portfolio Positions #12-14 are occupied by strong competitors (Stellar, EOS, Tezos, Cardano). Both of the phenomena we mention above speak in favor of Ethereum and we dont think that will change in the mid- and long-term future. Algorand will have its ups and downs, but I dont think theres any question its a better buy than. If youre going to hold ALGO for the long haul, you should be prepared for a two- or three-year time window. Based on the technical analysis by cryptocurrency experts regarding the prices of Algorand, in 2025, ALGO is expected to have the following minimum and maximum prices: about $0.639936 and $0.789921, respectively. In the middle of autumn 2023, the Algorand cost will be traded at the average level of $0.29997. Considering that the bears have control of the crypto market, a near-term target of 65 cents isnt at all unreasonable. Share your ideas. Those are first mover advantage and consolidation and subsequent monopoly. Algorand should at least be in position #14. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. A first-mover advantage can be simply defined as a firms ability to be better off than its competitors as a result of being first to market in a new product category. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. The following is a backgrounder to help you make an informed decision on whether or not you want to select ALGORAND to be your blockchain for your business, start-up or NFT project.