With the cryptocurrency market in a consolidation phase, it might be a good moment for COTI investors to analyse whether it could be a good moment to start building a portfolio of diversified virtual currencies.
Despite that, we should know that there is still a bear market that started in November 2021 when Bitcoin (BTC) hit an all-time high of $69,000. It is now time to understand whether the bear market will continue and if COTI is prepared to face these upcoming challenges.
What is COTI (COTI)?
COTI wants to build the first enterprise-grade fintech platform that would allow organizations and companies to build their own payment solutions. According to COTI’s official site, this platform would also allow these firms to digitize currencies, and save time and money, among other things.
COTI claims to represent the next generation of digital currencies. The payment platform is simple, transparent, trustworthy, and scalable. Thanks to its solutions, COTI is able to improve the experience of both buyers and sellers all around the world.
The $2 trillion payment industry needs a change and COTI is there to offer better solutions to some of the most demanding companies in the market.
COTI Tipping Point
COTI is already a leading project in the market as it can process over 100,000 TPS compared to other payment systems. At the same time, this protocol is faster than most blockchain networks that offer services to market participants.
By combining simplicity, protections for buyers and sellers and cost-effectiveness, among other things, COTI became a leader in the payment industry in recent years. Furthermore, at the core of COTI’s infrastructure, we find Trustchain.
Trustchain is a proprietary consensus algorithm that makes it possible for this blockchain network to process a larger number of transactions compared to other networks. Hence, COTI becomes a scalable network that offers unique solutions to different companies.
When it comes to price, COTI had a very good year in 2021, hitting in late October its all-time high of $0.64. While the first years were hard for this digital currency (its price remained below $0.05 until early 2021, the price skyrocketed last year.
Nonetheless, it is worth pointing out that the price of this virtual currency followed the whole cryptocurrency market. That means that it is very important to understand what could happen with Bitcoin in the future and whether this virtual currency will follow the same trend as the whole market.
These were COTI’s highs and lows in recent months:
- November 2021 high: $0.61
- November 2021 low: $0.3849
- December 2021 high: $0.4227
- December 2021 low: $0.2908
- January 2022 high: $0.4079
- January 2022 low: $0.25
- February 2022 high: $0.32
- February 2022 low: $0.1953
- March 2022 high: $0.2877
- March 2022 low: $0.192
- April 2022 high: $0.3129
- April 2022 low: $0.1806
- May 2022 high: $0.22
- May 2022 low: $0.10
Coti (COTI) Price Prediction – How Much can COTI Price Increase in 2022?
Let’s have a look at what analysts in the cryptocurrency market are saying about this virtual currency and whether there are chances for this coin to start moving higher in the coming months.
- For this trader, COTI found a strong support level at $0.088, which is a very important monthly support. Now, the coin could continue to move higher in the future, but in order to do so, it would be necessary for COTI to break a resistance level at $0.105.
As per the analyst, the next strong resistance level, if COTI breaks above $0.105, should be $0.1217.
2. This analyst sees COTI inside a downtrend channel that started many months ago and that seems to now be continuing for this digital currency. The lower boundary of this descending channel worked as a resistance level in recent months and it could become support in the future.
The next levels to pay attention to include $0.1012 and $0.11
3. This trading expert believes that COTI is now very close to a support level at $0.0874 per coin and that this has allowed the virtual currency to move higher in recent days. Thanks to this move higher, the analyst considers that we could hit the following daily targets: $0.0996, $0.1139, $0.1436. However, we should wait for the market to start moving higher in the coming months.
4. This trader shows that COTI could be moving towards $0.1297 in the next few weeks as the coin has recently broken above $0.091 and it could gain momentum. The resistance levels that have been drawn by the analyst include $0.1141, $0.1228 and $0.1297.
5. We finally have this expert that shows that the market is waiting for COTI’s breakout above $0.106. This might not happen right now as this region worked as a strong resistance level for this digital currency. The target shared by this analyst is currently at $0.14.
What can you do with the COTI token? What is the token utility of COTI?
COTI released a unique document in which it explains how the token works and which are its different use-cases. It explains that this cryptocurrency can be used as a means of payment and exchange. The greater the utility, the more valuable and stable the currency becomes.
Thanks to it, the COTI network offers different payments and applications that run on top of this blockchain protocol. COTI can be used also for incentivization purposes and to execute payments on top of this network.
What would be a decent COTI Price prediction for 2022?
It is now time to analyse the price prediction for COTI in 2022 and how high this virtual currency can go in the future. As we mentioned before, we are in a bear market that started in November 2021 and that could continue in the near future. This has pushed the price of COTI lower and could be one of the reasons why COTI would not be able to grow faster this year.
What we can see is that COTI could move as high as $0.15, as many analysts have predicted in recent days. Those users that remain bullish about the future of the market believe that it is also possible to see COTI being traded above $0.20, however, this seems to be a less conservative price prediction for this digital currency.
Can COTI Price Reach $1?
The main question that several investors that added COTI to their portfolios are whether the virtual currency would be able to hit $1 per coin. This is a risky take, but it is definitely something that could happen in the future.
COTI’s all-time high was close to $0.70, which means that it was not that far from reaching $1. Of course, this might never happen in the future, but if a bull market starts and COTI behaves in a similar way as in the past, then this digital currency could definitely reach $1 per coin.
The cryptocurrency market is a volatile place for most assets. We have seen virtual currencies hit very high prices, even when this was not expected. Another thing to take into consideration is that when a bull market starts, some altcoins double or triple their previous ATHs, therefore, we could see COTI moving higher in the future.
Based on what analysts say, these are some of the price predictions for COTI in the next few years:
- COTI price prediction for 2022: $0.04 – $0.15
- COTI price prediction for 2023: $0.04 – $0.25
- COTI price prediction for 2024: $0.10 – $0.65
- COTI price prediction for 2024: $0.12 – $1+
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