Nervos Network Fundamental Analysis
The Nervos Network is an open source public blockchain and a collection of protocols. The goal of the project is to create a sustainable path to a decentralized economy, and according to the founders, the way there lies in the ability of a network to adapt. The network was created to support on-chain state and off-chain computation. Its main goal is to provide developers with a way to build universal applications that will operate within multiple blockchain ecosystems.
The crypto economy on the Nervos network is separated into two levels: verification layer 1, which is considered as a trust root and a smart custodian, and a generation layer 2 that allows high-performance transactions and grants privacy.
The Nervos Common Knowledge Base is a public permissionless blockchain on layer 1, which is the basic layer of the whole network. It generates trust and transforms it to the upper layers and also provides public, secure, and censorship-resistant custody services for assets, identities, and other common knowledge created on the network.
The Nervos CKB is one of the first utility tokens. It can be used as a store of value and measure of payments like Bitcoin, but it can also be a value token behind smart contracts, for example, Ethereum. According to the official website, the token has more uses than Ethereum or Bitcoin.
The project is to be fully completed by 2024. Recently Nervos launched a cross-chain bridge to connect Ethereum and Cardano. In the future, the number of connected blockchains will be expanded.
Nervos Network Price Chart
The CKB was launched in November 2019 at the price of $0.0091. In March 2020, it dropped following the tendency of the market and other cryptos. At the beginning of 2021, CKB token price rallied together with other digital assets and reached its all-time high of $0.0441 on March 31. After that, the value dropped to $0.0164 on April 23 but recovered less than in 3 weeks, becoming $0.0407.
In July when the whole crypto market was down, the token price fell to $0.0079, but after that, following bullish trends started to rise. As for the CKB price prediction, most of the analysts consider bullish tendencies for the asset in the short term. It’s expected for Nervos CKB coin price to reach a maximum of $0.02 by the end of 2021.
Nervos Network Technical Analysis
Despite the fact that 100% accurate technical analysis for Nervos Network cryptocurrency is hardly possible, on this advanced technical analysis tool by TradingView, you can see the real-time aggregated CKB buy-and-sell rating for a selected timeframe. The summary for CKB/USD is based on the most popular technical indicators — Moving Averages, Oscillators, and Pivots.
Nervos Network Price Prediction
Below we have collected the most reliable price projections for Nervos Network (CKB) from popular forecast platforms.
#1. WalletInvestor CKB Price Prediction for 2021, 2023, 2025
According to WalletInvestor, Nervos Network price will grow from $0.0265265 to $0.0393 in one year. That makes CKB an awesome investment. The long-term earning potential is 48.15%. Predicted price for the end of 2026 is $0.0956.
#2. TradingBeasts CKB Price Prediction for 2022
Answering the question about if Nervos Network is a good investment, TradingBeasts say a resounding yes. In the 2021 perspective, this coin price is predicted to reach $0.0306278 with a growth to $0.0306407 by the end of 2022.
#3. DigitalCoin CKB Price Forecast for 2021, 2022, 2023, 2025
In DigitalCoin analysis, the price of Nervos Network cryptocurrency will rise in the next 5 years starting from $0.0256843 as of today’s price to $0.1058894. It will go up to $0.0429587 by 2022 and continue its growth in 2023–2024. Based on this forecast, Nervos Network is a profitable long-term investment.
Summary
As it can be clear from the analysis cited above, Nervos Network (CKB) projections are rather contradictory. There is no universal consensus either about positive or negative future CKB price movements. Indeed, the future possible growth depends on various factors: announcements, new technological solutions of the Nervos Network 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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Nervos Network Price Prediction: Is CKB a Good Long-Term Investment? was originally published in The Capital on Medium, where people are continuing the conversation by highlighting and responding to this story.