(GNT) Golem Price Prediction & Forecast
[Updated 14 December 2018]
Thinking of investing in Golem (GNT) in December 2018? Here is our honest price prediction and forecast.
- Fundamental Analysis
- Technical Analysis
- Specialists’ Perspective
- Golem Price Prediction 2018
- Golem Price Prediction 2019
- Golem Price Prediction 2020
- Golem Price Prediction 5 years
- Our Prediction
Update (Dec 14, 2018): After experiencing a significant downtrend in the last month and losing more than half of its value, Golem token (GNT) appears to have stabilized at just over $0.06 — where it has hovered for the past week, though the last 24 hours has introduced a minor dip.
Based on current market conditions, our price prediction for the remainder of 2018 remains bleak, with GNT expected to close the year at $0.06 or lower. As of yet, we cannot see any major reason to buy or sell Golem right now, as it will likely trade relatively sideways until it breaks one way or the other.
Though our long-term Golem (GNT) price prediction is on the whole bullish, we recommend waiting for a safer entry point before investing.
The Golem Network (GNT) is a global, open-source supercomputer that combines the shared computing power of tens of thousands of idle machines worldwide. Golem allows users to contribute spare computing resources to the Golem network or rent additional computational power to perform resource-intensive tasks, such as machine learning and bioinformatics.
Golem (GNT) was launched in 2016 with the aim to provide an alternative to big data solutions currently monopolized by the big players in the industry, such as Google, Microsoft, and Amazon. By democratizing the distribution of computational power, Golem is able to massively reduce the barriers to entry, opening large-scale computing to anybody who needs it.
Being one of the fastest selling initial coin offerings (ICOs) of all time, Golem was able to raise several million USD in just a matter of minutes, before going on to raise its full 820,000 ETH hard cap in less than a day — at the time worth over $8 million.
Compared to the ICO price, Golem coins (GNT) have grown in value considerably in the two years the blockchain has been around. Initially sold at a rate of 1 GNT = $0.01, the tokens reached a staggering all-time high of $1.25 — or a 12,500 percent ROI.
Golem (GNT) managed to achieve a peak market capitalization of just over $1 billion, becoming the #45 largest blockchain at the time, just slightly behind Electroneum (ENT).
Currently, GNT is trading at around $0.065, over 6x its ICO price despite an extremely bearish 2018, though its market capitalization has lost over $900 million, sitting at just $64 million as of writing.
[bctt tweet=”GNT is currently trading at more than 6x its ICO price as 2018 comes to a close. It is likely that the promising ERC20 token will end 2018 at just above 7 cents after a slight recovery.” username=”beincrypto”]
Fundamentally, Golem (GNT) is considered to be one of the more ambitious uses for blockchain technology launched in recent times. If executed properly, it has the potential to radically change the computing landscape.
The Golem Project is among the most actively developed projects in the space, with close to 7,000 commits on Github — significantly more than many much larger blockchains, including Stellar (XLM) and Tron (TRX). The project is also quickly catching up to older blockchains such as EOS and Cardano (ADA), indicating an extremely strong development community.
As of yet, the computer power marketplace offered by Golem only encompasses a single frontier — CGI rendering — allowing users to hire out computational resources to speed up their work. However, there are plans to add additional use-cases in the near future, including statistical modeling, machine learning, and large-scale simulations.
With huge potential for growth, and based on the success of its competitors, namely Microsoft Azure and Amazon AWS, it is clear that the industry has significant demand and is ripe for innovation.
Golem still in its beta release, having recently released the Golem Brass Beta on the Ethereum main net. The project also recently offered the first glimpse of Golem Unlimited, a new product aimed to improve the incorporation of data-center like setups and expand the scope of the platform.
Currently, the Golem token itself lacks major utility, and the project could likely operate perfectly fine without a token-based element. Right now, GNT is simply used to reward those who supply computing power and as a payment method on the platform. Despite this, the team behind Golem have stated repeatedly that the long-term vision of the project revolves around the token, so its utility value will likely improve significantly once the project exits beta.
For an ERC20 token, Golem (GNT) has performed relatively well despite the crushing 2018 bear phase, which saw the vast majority of digital coins and tokens collapse in value.
Unlike most other ERC20 tokens, Golem (GNT) has demonstrated the ability to resist the general market movements after seeing its value skyrocket by more than 300 percent over a period of a month beginning April 2018. The move came shortly after Golem announced the release of the Brass Golem beta.
At the time, Golem was one of the best performers and climbed from rank 64 to rank 44 by market capitalization, demonstrating extraordinary potential when market conditions are favorable. Despite this, Golem has still lost the vast majority of its token value over the past year and is currently sitting at its lowest value since May 2017.
In total, GNT has collapsed by close to 95 percent since Jan 2018, which is slightly more than Ethereum (ETH) lost over the same period and significantly more than the 83 percent losses endured by Bitcoin.
Shortly following the release of Golem (GNT), the project was met with extraordinary acclaim and was widely projected to become one of the most successful projects in 2018.
However, since the turn of the bear market, the general hype and enthusiasm surrounding the project and the general cryptocurrency industry have lost their vigor, with what were once roaring cheers of excitement now resembling more of a disturbed grumble.
Predictions made earlier in the year were overwhelmingly positive, with well-known influencers predicting big things for the computer resource marketplace. John McAfee for one predicted that Golem (GNT) would reach as high as $5 within 2018, while the CEO of Reddit demonstrated support for the project.
Now, however, expert forecasts are mostly bearish for the short-term future of the token, with many predicting that the token will continue to suffer over the next few months prior to an eventual rally.
WalletInvestor currently has Golem (GNT) listed as a poor investment, predicting that GNT might lose as much as 100 percent of its value within the next five years.
Crypto trading site TradingBeasts offers one of the more bullish short-term projections we have seen, estimating that GNT will triple in value to reach at least $0.19 by early January 2019, and doubling again by the end of the same year. This bullish outlook is somewhat mirrored by MegaCryptoPrice, who expect only modest gains in the remainder of 2018 but do predict more than 2,500 percent growth by 2023 to see GNT reach $1.73.
Golem Price Prediction 2018
As cryptocurrencies continue to slide ever lower in 2018, it is highly unlikely that Golem (GNT) will see a significant price recovery by the end of the year. Because of this, it is likely that Golem will hover between the $0.06-$0.07 range as the year comes to a close.
Since the beginning of the year, the total market capitalization of all cryptocurrencies has dropped by almost $400 billion, out of which over $700 million is attributed to losses seen by Golem (GNT).
Since the year begun, Golem has been in near-constant free fall, seeing very few periods of recovery, with just one significant recovery taking place between April and May 2018. Besides this, Golem has been on a downtrend for 11 out of 12 months and will likely close the year close to its yearly low.
With no significant developments or updates planned for the rest of the year, there is likely no intrinsic reason for growth as yet. And with no new bull run in sight, there appears to be little hope that the price of Golem will recover in the short-term.
Golem Price Prediction 2019
Although Golem (GNT) is looking likely to close 2018 at somewhere around the $0.06 point, we are optimistic that we will see a drastic change in market sentiment in 2019, potentially seeing in excess of $0.60 by the end of the year.
With Golem unlimited announced towards the end of 2018, improvements to Brass Golem and integration with Intel’s SGX technology lined up for 2019, there appears to be significant potential for growth over the coming year.
According to its recent roadmap revamp, the Golem team will be gradually updating Brass Golem by adding features from its next-generation architecture known simply as Clay. Golem expects that these upgrades will include new runtime environments, opening the doors to machine learning and other GPU-targeted operations. Once implemented, these updates could drastically improve both the utility and hence usage stats of the platform, leading to a substantial, but organic price increase. If these updates are met with the same enthusiasm we have come to expect from the Golem community, then 10x growth throughout 2019 is well within the realm of possibility.
In any case, we predict future developments will contribute to the strength of the platform and will be a foreshadowing of bigger things to come.
Golem Price Prediction 2020
Moving into Golem’s fourth year, we predict the momentum of the project will continue to pick up the pace and will see the Golem cryptocurrency reach unprecedented heights, potentially achieving over $1.30 as both consumer and institutional adoption grows.
The Golem development team have stated numerous times that CGI rendering is just the tip-of-the-iceberg for Golem and that the real potential of the technology will be revealed as the platform is applied to an increasing variety of use-cases. However, during this time we fully expect that Golem’s numerous blockchain competitors such as Iagon and Storj, as well as corporate computational power providers, will also be making moves to stay ahead of the curve.
Which project manages to capture a majority share of the market will likely depend on how the projects react to stiffening competition and which project manage to bag the most significant partnerships and clients over the next few years.
Golem Price Prediction 5 years
In its two years of life, the Golem (GNT) project as already seen its fair shares of ups and downs, having unfortunately really begun to pick up the pace just as the markets turned for the worse in 2018. Despite this, we expect GNT to reach over $5.11 within five years as institutional adoption booms.
Currently, the Golem project operates a publicly visible Trello board that outlines the current tasks and progress of the platform, though these are not provided with a timeline, it does give us an indication of the long-term focus of the project and the team’s dedication to success.
Right now, the onboarding of institutional users and data providers has not been added to the progress board, but we can assume that this is part of the long-term goal, particularly with Golem’s unlimited project catering exactly to these users.
In 2018 alone, Amazon’s web services generated an estimated $5.11 billion in revenue for the corporation, currently more than 80x higher than the entire Golem market capitalization. If Golem is able to provide a viable alternative to the major corporate computer power providers at a substantially reduced cost, it is feasible that the market cap of Golem could exceed the AWS yearly turnover by some margin.
Because of this, under the best case scenario, it is quite possible that the Golem (GNT) cryptocurrency can witness staggering growth over the next five years, potentially hitting a value of $5.11+ each as the market cap swells to over $5 billion.
BeInCrypto prides itself on its accurate forecasts that are based on real, tangible evidence, rather than bias or false hopes. In light of this, we expect that Golem (GNT) is capable of reaching a maximum price of $5.11 within five years, assuming it can continue to grow and meet consumer demand.
As of yet, the amount of computing power available, number of users and available features are massively limited compared to its biggest competitors. However, being just two years old, the project still has enormous room for growth and has historically demonstrated its strength relative to other digital assets.
In time, we expect Golem will expand to cover new use-cases, making its low-cost computing platform attractive to an ever-increasing number of industries. Once a few big names take the leap and jump on board, we can see Golem rising up to seriously compete with the current leaders in the space.
|Period||Golem Price Forecast|
|Best Case Scenario||Worst Case Scenario|
Nevertheless, investors should always do their own research and tread lightly before investing in any cryptocurrency. Crypto markets are extremely volatile, do not invest in Golem or any other cryptocurrency if you are risk-averse, and never invest more than you can afford to lose. Remember, it is quite possible to lose your entire portfolio when investing in cryptocurrencies.
What do you think of our price prediction for Golem (GNT) in 2019? Can it ever achieve the scale necessary to compete with AWS? Let us know your thoughts in the comments below!
Disclaimer: The contents of this article are not intended as financial advice, and should not be taken as such. BeInCrypto and the author are not responsible for any financial gains or losses made after reading this article. Readers are always encouraged to do their own research before investing in cryptocurrency, as the market is particularly volatile.