Since the inception of blockchain technology some years ago, several projects have leveraged the technology to build thriving ecosystems. These projects span across finance, healthcare, etc. Bitcoin and Ethereum are two of the most popular projects on the blockchain, and with advancement in the cryptocurrency space, several projects have spun off these two, with most riding on fixing their flaws.
Qtum is another project that switches the gear a bit higher by creating a bridge between the positives of the Bitcoin and Ethereum network. It intends to leverage the stability of the Ethereum chain and its dApp environment while also solving its throughput and scalability concerns by combining the Bitcoin chain.
This piece provides detailed information about Qtum, its features, historical price movements, Qtum price forecast, and technical analysis.
Overview of Qtum
Qtum, often pronounced “Quantum,” is an open-source blockchain platform developed by Patrick Dai, CEO at Qtum Foundation. It first surfaced in 2016 as a Bitcoin core fork combined with Ethereum’s VM. This combination birthed a hybrid blockchain that incorporates the best Ethereum and Bitcoin technology features via a third bridging layer known as “Abstract Account Layer (AAL).” Simply put, Qtum is built on 3 layers, and it leverages the dApp capabilities of the ETH blockchain and the secure UTXO model of BTC to serve businesses better.
Utilizing Ethereum’s Virtual Machines grants Qtum a stable environment for the development of decentralized applications. However, Qtum’s development team is aware of the security and throughput issues limiting Ethereum, and they resolved these concerns by combining the network with the Bitcoin blockchain via the AAL. Also, using the EVM ensures that Qtum leverages smart or self-executing contracts and runs on a Proof-of-Stake (PoS) algorithm, which avoids enormous energy and resource demands, unlike the Proof-of-Work model.
The native token of the Qtum network is QTUM, and it enables enterprise customers and developers to access services on the Qtum blockchain. Like most digital currencies, QTUM gains value from its market demand and uses.
Features and Uses of Qtum (QTUM)
Coupled with its Bitcoin and Ethereum chain combination, Qtum offers some more key features such as a decentralized governance protocol, ARM VM & Qtum Neutron, resources for decentralized apps, and blockchain development multi-platform QTUM wallets, and enterprise blockchain offerings.
- Decentralized Governance Protocol: Qtum’s DGP allows certain modifications to the blockchain using self-executing contracts.
- ARM VM & Qtum Neutron: Qtum’s ARM VM and Neutron middleware ensure the chain’s support for Rust programming and upgrades that facilitate the improvement and adoption of developments in smart contracts.
- QTUM Wallet: Qtum boasts a multi-wallet ecosystem that supports Linux, iOS, Windows, Android OS, Mac OS, hardware wallets, web wallets, etc.
- Enterprise Blockchain Offerings: The Qtum blockchain is also dubbed “the business-ready blockchain.” It provides a secure, stable, and standardized environment for the coding and deployment of business-friendly smart contracts. In addition, the Qtum network offers custom-made solutions to enterprise clients.
The primary use case of the QTUM token is to pay transaction fees for contracts executed on Qtum’s blockchain, operate and maintain the Qtum ecosystem. It can be held, spent, transferred, and staked.
QTUM historical data and technical analysis
Following QTUM’s initial coin offering (ICO) in 2017, the token price began trading at just over $5, and it took an upward trend until it attained a year-high price of $65.01 in December 2017. The favorable price momentum of the crypto continued in 2018, as QTUM hit its all-time high of $106.88 by January 7. A few days after, a Qtum price drop occurred, and the value of the crypto was halved; it ended January 2018 at $42.12. Between February and June 22, 2018, Qtum traded between $10 – $42.10, and by the start of June, it began trending downwards until it bottomed at $1.53 on December 8, 2018.
Between January to June 2019, QTUM experienced a slight price rebound and reached $5.91 on June 26. But in the second half of the year, the crypto lost its momentum again and ended the year at $1.61.
In March 2020, QTUM attained an all-time low of $0.77, and it gained momentum again until it reached $5.36 on August 21. Towards the end of 2020, QTUM’s market price traded within the range of $2 – $4. At the start of 2021, QTUM kicked off with positive price dynamics, as it traded between $2.02 – $4.16. It continued to trend upwards in the following months, as it hit $20.95 on April 19 and then $35.38 on May 7. The price surge followed the cryptocurrency market trend at the time, with BTC, ETH, BNB, and the likes experiencing similar upward trends.
At the start of June 2021, the price of QTUM had fallen to one-third its value on May 7, and the coin again took to a downward trend. It recovered in August 2021, and its current market price is about $13.40. It has a circulating supply of 92%, i.e., 98,797,100.73 QTUM from a maximum supply of 107,822,406 QTUM.
From the chart above, we can see that QTUM began trading above the 20-day simple moving average after the contraction of the Bollinger bands. In addition, the asset’s price hugged the upper band for a while and moved out of it, which suggests the continuation of a bullish trend. However, the price moves back under the upper band, which negates the continuation of the upward trend. In this case, traders should proceed with caution as a bearish momentum might occur.
QTUM’s Relative Strength Index (RSI) is 62.67, which means that the asset is neither overbought nor oversold. However, the RSI value could be said to be in the “nearly overbought” region, meaning that a downward trend or price reversal could be imminent. The chart also shows that QTUM had just reversed from the overbought region. Traders must be watchful and deal smartly not to get caught in the market hype.
Let’s delve into some expert Qtum coin price prediction.
Qtum Price Prediction by Wallet Investor
In the long term, they expect a bullish run till the end of 2021, with the asset’s price reaching about $27. In 2022, experts predict a somewhat bearish momentum, with prices expected to fall back to about $22.
Qtum Price Prediction by Digitalcoinprice
According to the Qtum prediction from Digitalcoinprice, a bullish run is expected for QTUM toward the end of 2021. A mean price of $19.82 is expected for October 2021 and $22.08 by December 2021, enduring that it crosses its third resistance level at $18.287.
For 2022, the Qtum price prediction from Digitalcoinprice aligns with the QTUM forecast above, as the market price of the crypto is expected to consolidate around $22.
In 2023, an average QTUM price of $28.04 is predicted, and for 2024, the coin is forecasted to have a mean price of $33.55. Digitalcoinprice indicates a sustained price gain for 2025, with a mean price of $38.07. By 2028, QTUM is expected to be trading around $60.
Qtum Price Prediction by Trading Beasts
According to the Qtum price prediction from Trading Beasts, the average price of the digital asset for November 2021 is $11.707, its maximum price is $14.634, and its least price is $9.951. By December 2021, QTUM is expected to have a maximum price of $14.738 and a minimum price of $10.022.
The Qtum forecast for 2022 is less optimistic than the predictions from other expert price analyses, but the price action is relatively stable. The maximum expected price of the asset for 2022 is $15.466, its minimum price is $10.091, and its average price is $12.373.
Qtum Price Prediction 2021-2025
Looking at the price movement of QTUM in 2021, the asset has not poorly performed, especially in the past months. It is currently on an upward momentum, and if this trend continues, QTUM might reach new heights by December 2021 by climbing above its R2 and R3 levels at USD 14.729 and USD 18.287, respectively.
Conversely, if market sentiments turn against QTUM and the price takes a downward trend, it could plummet to its S1 level at USD 4.222. However, the current trends are positive, and QTUM could be on its way to smashing its R2 and R3 levels to reach USD 20.
Qtum Price Prediction 2022
If the QTUM coin carries on with its momentum from 2021, it could be set to secure a spot as a major attraction for investors. Based on the current trend, QTUM’s price history, and expert analysis, users can anticipate huge profits with QTUM/USD expected for USD 28 by December 2022.
Qtum Price Forecast 2023
One of the variables that drive the price of an asset is its continuous mainstream adoption. The Qtum ecosystem is snowballing, with upgrades and innovations expected soon. Also, massive adoptions are expected over time, and this move could quickly push the asset’s price past the USD 35 mark by December 2023.
Qtum Price Prediction 2024
Based on past Qtum performance, the digital currency has shown more long-term potential, and for this reason, a bullish trend is forecasted for 2024. A maximum price of USD 42 and a minimum digital coin price of USD 38 is expected for the year.
Qtum Price Prediction 2025
As per expert Qtum forecast, its market price could soar as high as USD 65 by 2025. QTUM can quickly achieve this feat or even reach a new all-time high because of the real-world solutions it offers to enterprises. As more businesses adopt the Qtum blockchain, this action will continue to drive the value of QTUM.
Qtum is an exciting project, and ongoing development in its ecosystem will further enhance its widespread adoption. Most of the price forecasts above agree on a bullish QTUM price prediction in the long run, and if market sentiments continue to favor the crypto, it will break past its resistance levels and retrace its current all-time high soon.
Sometime in 2019, the short-term analysis of QTUM/USD indicates struggle and the downward correction that was made at the start of this year. However, the medium-term analysis revealed strong bullish tendencies for this pair and also gives a ray of hope for the future.
I looked up the development metrics, and it looks like development has completely stalled sometime around April/May 2020. So, could be this year that QTUM could double back as it did 3 years ago (ATH $100 on Jan 6, 2018). What does QTUM have going for it now?
However, investors need to trade with caution, as the crypto market is volatile, and no one can accurately forecast the future price of assets. Hence, before initiating a crypto trade, always do due diligence.
What is Qtum price today?
The current price of QTUM is around USD 13.4, and its 24-hour trading volume is over USD 390 million – a surge of over 84%. It has a market cap of USD 1.3 billion.
Could Qtum still be a profitable investment in 2021?
The Qtum project, although relatively new in the cryptosphere, has received the backing of lots of enthusiasts and influencers because of its prospects and the combined benefits of the Ethereum and Bitcoin chain. The futuristic earning potential of QTUM is most likely not in doubt, and its short-term ROI could also be profitable and significant if market sentiments favor the coin.
The recent price actions of QTUM have been positive and with steady gains. If the momentum continues, the coin could be set to trade above USD 21 by the end of 2021, which translates to an upward price trend of over 61%. In addition, the coin could potentially level up its ranking to the top 30 cryptocurrencies.
So, can QTUM still yield profits in 2021? Yes, the crypto could potentially yield significant returns. However, this is not investment advice investors should take caution when dealing with digital assets as they are volatile.
Can I mine Qtum?
The Qtum platform is reliant on a Proof-of-Stake consensus algorithm; therefore, Qtum coins cannot be mined with CPUs or GPUs, like some coins. Rather than hardware or software mining, Qtum crypto can be obtained, mined, or earned via staking. Although QTUM cannot be mined directly, other mined tokens can be swapped for the cryptocurrency.
How to buy Qtum?
QTUM is a relatively popular digital currency and can be bought on most cryptocurrency exchanges. The available trading pairs include Bitcoin, several Altcoins, fiat currencies, and stable coins. Some renowned exchanges that offer this token include Binance, HBTC, Huobi Global, Hydax Exchange, etc.
To buy QTUM, here are some steps to keep in mind;
- Choose an exchange that suits your needs, and set up an account.
- Understand the payment methods available on the platform.
- Ensure that you have a compatible and secure wallet to store your QTUM token.
- Purchase the desired volume of QTUM using any of the convenient trading pairs available on the exchange.
Will the price of Qtum crash or go up?
According to our Qtum price predictions based on expert analysis, the future looks suitable for QTUM, and the price will level up significantly in the coming months and years. By the end of 2022, the price of QTUM could hit USD 28, and by 2025, a maximum price of USD 65 is expected.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.