In this lecture, I will talk about the Crypto.com CRO Mainnet launching and I will share my prediction about the price of the coin.
How CRO Mainnet launching affected 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.
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 CRO coin 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 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 CRO 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.
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.
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 hear your thoughts about the CRO coin and the news and what is your price prediction in the comments below. I will see you guys in another lecture.