Cosmos (ATOM) is a decentralized network of an autonomous blockchain that is scalable. The key objective of Cosmos is to develop a collaborative bond between blockchains by enabling them to interact and make transactions autonomously. As per the official statement, “The vision of Cosmos is to make it easy for developers to build blockchains and break the barriers between blockchains and by allowing them to transact with each other.” The official website also states, “The end goal is to create an Internet of Blockchains, a network of blockchains able to communicate with each other in a decentralised way. With Cosmos, blockchains can maintain sovereignty, process transactions quickly and communicate with other blockchains in the ecosystem, making it optimal for a variety of use cases.” Now that you have an idea what we are talking about, let’s have a look into further details including the ATOM price prediction.
Cosmos (ATOM) Price Trends
ATOM was launched back in 2017. Since then, it has witnessed both good and bad days. If we look at the overall price progress of ATOM as per 2019, it was in a bearish trend with price falling multiple times through the year. Moving onto 2020, the ATOM price continued its trend to fall even below the closing price of $4.21 of 2019. The price of ATOM as per the closing edge of 2020 was $6.49 due to a bullish flight in December.
The last year proved to be fruitful for ATOM. The bullish momentum kicked in allowing the price to reach $9.49 in mid January before dropping to $6.98 around the month end. While this may be true, the price of ATOM closed at $32.47 down from its all-time high of $44.7.
ATOM Price Prediction
The ATOM price has tested its all-time-high of $44.70 three times over December 2021. While this may be valid, the token has risen up to 0.91% trading at $42.28 as of 17 January. Although there are several positive factors that can significantly contribute to the bullish thesis, there is an equal possibility of ATOM price hitting $34.32 by the last two weeks of January. This means that we need to keep our eyes open for bearish thesis as well.
Please note that our ATOM price prediction is based on expert crypto market analysis and does not offer any financial advice.