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Polkadot Price Prediction: Will Buying Polkadot Make You a Millionaire?

Polkadot is a very well known project in the crypto world, offering clear and compelling use cases for its product. But is it enough to compete with other crypto market leaders, whether they’re just riding the hype wave or innovating the technology? DOT price predictions reflect the expert opinions on the matter — so keep on reading!

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Polkadot Fundamental Analysis

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Polkadot (DOT) is a native token of Polkadot protocol — a solution aimed to bring interoperability into the world of blockchain, providing the way to connect public and private chains, oracles, and other developments in the crypto space into a united web. The development of Polkadot started in 2016, and the network itself launched in May 2020. Gavin Wood, a former CTO of Ethereum, is among its founders.

Polkadot’s team started with a simple idea: with so many blockchains competing for dominance, what’s going to happen if there’s no clear winner? So, instead of joining the race, Polkadot created a solution to connect all the different blockchains which enables them to coexist. Three key features allow this:

  • Polkadot relay chain, which is at the heart of the Polkadot ecosystem. It connects everything and provides security;
  • Parachains, or parallel chains — independent (but connected to the relay) blockchains, which can be “rented” by other projects, for example, for their dApps;
  • Bridges, which ensure connectivity with external blockchains.

The Polkadot network is secured using the Nominated Proof-of-Stake (NPoS) consensus protocol. This means that the trustworthy validators must be selected by the nominators first. Both validation and nomination require staking the DOT tokens. DOT is also used to bond new parachains and as a governance token.

Polkadot Live Price Chart

In December 2020 Polkadot launched its testnet, and together with the market going on an upswing, this pushed the price up. DOT’s price reached ~$18.5 in January, and then, after stalling there for a short while, shot further up. It stayed very high until May when it experienced a record high of $49.69. Later in May, probably due both to the market crash and some technical issues with the network after parachains launched the same month, the price fell sharply to under $18. DOT price has seen a recovery up to ~$28.6 in June, but since then it’s been mostly in decline. By late July, however, the price has started going up again — but it’s too early to tell whether this reversal is going to be long-lived.

Polkadot Technical Analysis

Despite the fact that 100% accurate technical analysis for Polkadot cryptocurrency is hardly possible, on this advanced technical analysis tool by TradingView you can see the real-time aggregated DOT buy-and-sell rating for selected timeframe. The summary for DOT/USD is based on the most popular technical indicators — Moving Averages, Oscillators and Pivots.

Polkadot Price Prediction

Below we have collected the most reliable price projections for Polkadot (DOT) from popular forecast platforms.

#1. WalletInvestor DOT Price Prediction for 2021, 2023, 2025

According to WalletInvestor, Polkadot price will grow from $43.11 to $69.185 in one year. That makes DOT an awesome investment. The long-term earning potential is 60.48%. Predicted price for the end of 2026 is $176.233.

#2. TradingBeasts DOT Price Prediction for 2022

Answering the question about if Polkadot is a good investment, TradingBeasts say a resounding no. In the 2021 perspective, this coin price is predicted to reach $39.454 with a growth to $43.056 by the end of 2022.

#3. DigitalCoin DOT Price Forecast for 2021, 2022, 2023, 2025

In DigitalCoin analysis, the price of Polkadot cryptocurrency will rise in the next 5 years starting from $43.9984315 as of today’s price to $134.1449176. It will go up to $73.1743393 by 2022 and starts its reduction in 2023-2024. Based on this forecast, Polkadot is a profitable long-term investment.

#4. LongForecast DOT Price prediction for 2021-2022

In 2021, the average Polkadot price will go up to $44.8933333. In 2022, Polkadot’s price will rise significantly to an average of $50.1004167.
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As it can be clear from the analysis cited above, Polkadot (DOT) projections are rather contradictory. There is no universal consensus either about positive or negative future DOT price movements. Indeed, the future possible growth depends on various factors: announcements, new technological solutions of the Polkadot projects, the crypto environment in general, legal position, and so on. We kindly remind you that before investing in any cryptocurrency, it is essential to do your own research (DYOR).
Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

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