In today’s lecture, I will do a quick CRO coin price prediction for the near future and for the long term, based on what we’ve seen so far on the market and based on what Crypto.com did as a company in 2021.
Before I start with the price prediction, I want to tell the beginners what is the CRO coin. It is simply the native token of the Crypto.org chain, which is a public blockchain. And most importantly, it is not Ethereum-based anymore.
They launched their own network on the 25th of March, 2021, which proves there is a huge potential in the company.
CRO Mainnet launching effect on the CRO coin price
The Crypto.com Mainnet launch date was on the 25th of March 2021. Do you know the market and the community reacted? Well, very positive, and in the following lines, I will tell you why. Moreover, I will show you why the launch date was the biggest day for the CRO coin until that moment, and what is my price prediction for this coin in the near future and in the long term.
On the 22nd of March, 2021 we had some big news from Crypto.com, and below is what they posted on their website. “CRO Mainnet launching will be on March 25th“. According to their publication, this will be a fully decentralized, open-source, public chain with high speed and low transaction fees.
And this is right after they made an announcement of a 70 billion CRO burn and they state that they continue to aggressively pursue full decentralization of the network. We believe that the world needs a fully decentralized, open-source, public chain with high speed and low fees.
And you can read more about it in the blog of Crypto.com and on most of the news around the cryptocurrency market.
The CRO coin chart
But what matters the most to me and what I want to talk about in this lecture is the reaction of the community on that day. And it’s very obvious, you need to look at the chart. So this is the Crypto.com CRO coin price chart and on the daily chart, we have a very positive day. Not just a positive day but it’s a record day.
If I put the mouse on it, the lowest point is at $0.1341. This was the lowest point of the day, and the highest was $0.2739.
And if I switch to the hourly chart, we have some retracement right now. Of course, many of the people will take quick profits but that’s a huge move. If I go back to daily, you will see the whole picture. In 2020 the market was very positive for the CRO coin.
Then we had the negative market, this is when they lowered the referral bonus. So before it was $50 and after November, it became $25. So this is when you are referring someone and you both get a bonus. And the community didn’t really accept that well. The price of the Crypto.com CRO coin went down below 0.6, 0.5, I think the lowest point was just below 0.5, yes, it is 0.0498.
The “Salsa” formation
And then we had this formation right over here which in trading is called Salsa. It’s a very bullish formation, shows reversal and I was expecting that break.
So my first investment with the CRO coin was right at the end of this day. When these tops were reached, I bought them. This morning I bought again and I’m quite happy investing in the long term in the Crypto.com coin.
Because I see that the community is back there and it accepts very well the news from the company. As well the 3 positive days that we have, they were because of some changes in the cards they offer. As well, the community accepted it very well. And then, boom. A record day, and it nearly doubled its value in one day.
As you can see at that moment, we had a negative day for Bitcoin, the first huge negative day after it reached the $50,000 threshold.
So having some CRO coins that are actually going into positive when Bitcoin has been negative is a great risk diversification for me.
I will see whether they will go and where it will close. If it closes above $0.30, I expect consecutive positive days.
NFT platform launching effect on the CRO coin price
The next thing that we need to consider when making a CRO coin price prediction is the NFT platform. Crypto.com launched a brand new NFT platform which is super simple and user-friendly.
And you can buy NFT just with your Visa card. Again for beginners, this is a new phenomenon on the market that surprised the world, with prices starting from a few hundred dollars up to $69 million, which is the record for 1 NFT until the moment.
And of course, it’s a brand new platform that started in March 2021. There are not many NFTs yet but it is very easy for people with no cryptocurrencies. They can purchase easily with their debit or credit cards and they don’t need to register on different wallets, on MetaMask, pay gas fees, and all the complicated procedures we had to do until the moment if we want to buy NFT.
Crypto.com DeFi Wallet
Then, the company launched the DeFi wallet, a non-custodial wallet with full control over the assets and the private keys.
But the best thing here is that we can stake CRO coin with over 20% of annual interest. Isn’t that amazing? How many other wallets allow that?
CRO coins cashback
Next, they have Visa cards, I’m using one. And they are not just offering Visa cards, their Visa cards are the world’s most widely available Visa cards. And I think more and more people will start using these cards because we get a lot of benefits but most important is we get cashback. So every time I spend money online, virtually or I go to the mall or to the supermarket downstairs, I pay with that Visa, I get cashback in CRO coins which is awesome. Why not?
I’m spending this money anyway and if I have the chance to get 2, 3, 4, up to 8% in a cashback as a CRO, why not? I like the idea and more and more people love the idea. And I have to point out that their app for the phone is super easy to use. They just do things easily and user-friendly, which obviously brings them more clients. So you can download the Crypto.com app from the App Store or Google Play.
And at the same time, you can use the exchange from a computer or a laptop. I will put links below with some bonuses if you want to register for the exchange or use the app. And you might wonder why I’m talking about all of that in a price prediction video.
Because I’m doing a CRO coin price prediction and everything that Crypto.com does, the NFT platform, the Defi wallet, the Visa cards, the friendly app for the phone, the exchange, all these things are useful for the community. And when the community likes what the company does, they will be purchasing more and more CRO coins. Let me share with you, for example, what I did,
I have purchased many Cryptocurrencies from Crypto.com. But at the same time, I purchased CRO coins multiple times for different reasons. I purchased because I wanted to have a Visa card, I purchased because I wanted to stake on the Defi wallet for 30% annual rewards. And probably, I’ll be purchasing more in the future for different services they offer making the people buy more and more.
Client base effect on CRO coin price prediction
But for the CRO coin price prediction, let’s take the huge competitor, Binance. As you know, Binance is the world’s largest exchange until the moment. And their token trades at $380 by the time I’m writing this lecture, while the Crypto.com coin price is at $0.21. But stay with me, in January, Binance announced that they reached 100 million clients and at the same time, the Binance coin was at about $50.
At the end of February, Crypto.com announced that they reached 10 million users. And the price of the CRO coin at that time was at about $0.15. But here is the thing, they said that they doubled their client base for 4 months.
This means that in November 2020 they had 5 million clients and the CRO coin was at about $0.06 to $0.07. So if you did the math already, you see that when the clients doubled, the coin doubled its value.
So when Crypto.com reaches 100 million users and they will if they keep up the good work on offering new services, new platforms. Simply if they keep the community happy, they will reach 100 million users. Then mathematically we will have the CRO coin at $2, which is about 1,000% growth. Now, I said that $2 is my first price prediction and my next one is $50 and I will tell you why.
Looking at the Binance price back in time
Let’s ignore everything I said about the NFT platform, the DeFi wallet, the Visa cards, all the great things they do for the company. I’ve mentioned Binance and if you remember what I said, I said that when they reached 100 million users, the price of the Binance coin was about $50. So why not when Crypto.com reaches 100 million users, the CRO coin should be actually at $50.
But this is not so much of a price prediction rather than an expectation because if the company has actual 100 million users and all of them are buying the CRO coin for different reasons, like the DeFi wallet reward or the Visa cards or they just like the company, no matter what is the reason, they will be buying the CRO coin. And the more they buy it, the more value it will gain. The more they buy it, the bigger it will become.
CRO coin follows the Bitcoin
So my price prediction is between $2 and $50, I can say in the next 1, 2, 3 years maximum. Of course, it depends where the Bitcoin will be, as I noticed that sometimes the CRO coin follows the Bitcoin. Even if it’s not really correlated. But there are patterns that we can recognize when the Bitcoin drops, Crypto.com coin price drops. When Bitcoin rises, CRO coin rises. But one more time, when we are purchasing CRO coins, it’s something like we are buying shares of Crypto.com.
It’s not exactly that but it is very similar because the price of the CRO coin depends a lot on what the company does itself. What platforms it launches, what new services it will offer, are the trading conditions better or worse for the users? And all of that drives the price of the CRO coin up and down. But in the long term, I think that Crypto.com has all of the potential to reach Binance.
And hopefully, the CRO coin will reach Binance coin one beautiful day because I invested much more in CRO coins.
And obviously, the more people buy it, the more it will increase its value. But if there is a retracement, that’s really normal because a lot of the people that bought it cheap would be really happy to sell right now.
I’m personally looking more into a long-term investment with the CRO coin because I really believe in the company. I like what they’re doing so far, Crypto.com is one of the exchanges I’ve been using. And most importantly,
I see that the community is back there. Actually, it has always been there, the fact is that now they accept really positively the news from the recent days about the Visa cards they offer, and then about the Mainnet launch date. So I rounded my CRO coins today to 10,000 exactly.
I haven’t yet calculated the average price that I have at the moment but I think it’s about $0.17 which I could have done better but I was waiting really for that reaction from the community to see that there is strong support from the Crypto.com fans and from the people who believe in the CRO coin.
CRO coin price prediction in short and long term
So how do I see the Crypto.com CRO coin price in the short term and in the long term and what is my prediction?
After such a positive reaction from the market, I easily see the CRO coin going to the dollar.
And I think that’s really possible to happen in the next few months or let’s say around mid-2021. And in the long term, I think there is a huge potential in the CRO coin because the exchange is new. Much newer than Binance, for example. And they do a lot of innovations.
Second, there is a huge strong community behind it. And third, this community reacts positively and that’s the most important thing. And look where the Binance coin is at the moment, and why not the Crypto.com coin reach these levels?
So I think in the long term, $100 for a CRO coin is absolutely possible but when I say in the long term, I think that’s about a year, maybe even 5 years from now.
If the company keeps announcing good news, news that the community accepts positively, I think they have a huge chance. And I’ll be happy to hold my CRO coins a longer time, staking them at Crypto.com, compounding the amount.
So please don’t take that as advice to buy CRO coins. I’m not saying that, I’m not a financial advisor. You should do your research, do your diligence, it’s your decision.
And if you decide to invest in CRO coins as well or to stake them for a Visa card or annual reward of staking CRO coins, check out our crypto staking course and our detailed Crypto.com review to get some bonuses when registering on the Crypto exchange or the Crypto.com app from your mobile.
Please share your thoughts
Just how I see the market after having such a positive reaction. And my experience in trading shows me that after such a positive day, good times are coming for this cryptocurrency. At the same time, we have a negative Bitcoin but a very positive CRO coin. And because my biggest investment is in Bitcoin, I’m pretty happy buying CRO coin and having this diversification.
So I won’t be losing much value when Bitcoin drops and I have CRO coin going into positive direction. So I really hope that they will keep it up from Crypto.com to support a satisfied community because that’s the most important thing in Cryptocurrency trading and that’s what can drive the price with this momentum.
I’ll be happy to see your thoughts about the CRO coin and the news and what is your price prediction in the comments below. I will see you in another lecture.