This year has been a tough sail for Helium since May 2022, when the Terra/Luna implosion caused a cascade of bankruptcies, layoffs, and liquidations. Subsequently, the chain of unfortunate market and geopolitical events like the Russian invasion of Ukraine, U.S. inflation, and 3AC and Celsius insolvency, has also contributed to the downward pressure on the price of HNT.
With the recent massive downfall of the crypto market caused by FTX contagion, is it possible for Helium to reclaim its all-time high in 2023? Continue with the article to learn about Helium price analysis and prediction by Coinpaper.
Read also: Can I mine crypto with radio? This startup says yes
What is Helium?
The Helium network is a decentralized blockchain-based network for the Internet of Things (IoT) devices. The network is powered by the native token HNT, which is used to incentivize network participants to establish wireless hotspots that allow low-power devices to communicate with each other through the LoRaWan protocol. HNT is also used to purchase data packages and secure transactions on the network. The Helium network provides a secure and low-cost way for IoT devices to connect and interact with each other, enabling a wide range of applications such as smart home systems, tracking devices, and more. The network is also designed to be energy efficient, as its unique consensus mechanism requires much less energy than traditional PoW blockchains.
Helium (HNT) price
Currently, Helium Price is USD. HNT has a circulating supply of coins and a total supply of . If you are looking to buy or sell Helium, Binance is currently the most active exchange.
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Helium price prediction 2023
The current market sentiment is full of fear, uncertainty, and doubt (commonly known by the acronym FUD), as fears of FTX contagion mount. At the moment, it’s difficult to assess exactly how much damage has FTX collapse has done to the crypto industry, since some affected crypto companies may be already secretly insolvent due to highly leveraged positions, as we have seen in the aftermath of Terra's implosion.
According to our estimates, it will take months for the full scale of FTX bankruptcy to become clear, so the turning point for the crypto market won’t come before late Q1 to early Q2 2023, although for now, it seems that the industry has absorbed most of the damage.
Another market factor that should be taken into consideration is how successful will be the U.S. Federal Reserve’s efforts to curb inflation. For now, there is reason to believe that Fed is making some progress in its attempts to cool the overheating economy — on November 30, Federal Reserve Chair Jerome Powell announced it’s time to slow the pace of coming rate hikes, which immediately triggered a positive reaction from both crypto and equity markets.
Given the above information, one can easily guess that there will be a considerable divergence between bullish and bearish Helium 2023 price predictions due to multiple unknown factors. For this reason, we estimate that the bullish scenario will see Helium price at $4.02 to $6.74. On the flip side, a fading interest in the new meme coin may push the price of Helium to $2.16-$2.02 lows.
Helium price prediction 2024
In 2024, the global macroeconomic backdrop is likely to be more favorable to the crypto market, adding value to Helium (HNT) and other cryptos. However, the possibility of black swan events similar to the collapse of FTX cannot be completely ignored.
Keeping this in mind, we foresee the price of Helium to climb as high as $9.3, with the more distant prospect of reaching $12.18 in 2024. The bearish scenario is likely to see Helium (HNT) trading between $7.74 and $5.67 in 2024.
Helium price prediction 2025
Since it’s practically impossible to foresee what market factors will influence cryptocurrency prices in 2025, this part of our Helium (HNT) price analysis and prediction is based on pure speculation and observation of Helium historical price movements.
Our Helium 2025 price forecast expects HNT to rally towards $15.98 and reach $21.93 by the end of the year. The bearish scenario would see Helium at $13.73 to $11.09.
Helium (HNT) price prediction 2026
Looking ahead four years, to 2026, Coinpaper's price prediction for Helium is neutral. In 2026, we expect Helium to reach at least $26.37 before climbing higher to $34.61. In case of a bearish scenario, Helium may fall to $17.05.
Is Helium (HNT) a good investment?
This is a difficult question to answer. One of the main issues with investing in HNT is that the token’s value is tied to the success of the Helium network, which is still in its early stages and has yet to prove itself in the marketplace. Additionally, there have been reports of the executive team at Helium getting rich through distributing mining devices to insiders, which has raised concerns about the company’s transparency. Finally, the cryptocurrency market is highly volatile, and there is no guarantee that investing in HNT will be profitable in the long run.
Bottom line
Are you ready to invest in Helium? Very few if any analysts forecast its value going down to zero, although you can’t be sure these days, so make sure you always do your own research before making investment decisions. And keep in mind that cryptocurrency prices can be extremely volatile, so trading crypto always involves a high degree of risk.
You can buy HNT from many crypto exchanges, including Binance
Disclaimer: Coinpaper does not recommend that any cryptocurrency should be bought, sold, or held by you. Always conduct your own research and consult your financial advisor before investing in any digital asset.
FAQs
Who created Helium?
Helium was co-founded by Amir Haleem, Shawn Fanning and Sean Carey in 2013.
What was the all-time high for Helium (HNT) ?
The all-time high price of Helium is $ on 2021-11-12
