Nano is a delegated proof-of-stake (DPoS), a blockchain that uses directed acyclic diagrams (DAG). It can service instant, feeless payments and does not offer a reliable store or smart contract platform. Nano is a protocol that aims to address a niche market. It aims to create a protocol with high transaction processing speeds, low latency, and easy scaling. Nano is designed to allow decentralization of ownership of on-chain assets, primarily through a captcha-solving distribution without mining rewards or an offering.
A strong financial foundation is essential for any project. It will allow the team behind it to create their visions and incentivize others to join them. It is especially important for projects that received large ICO proceeds. The temptation to spend all those millions on “conferences, events” was huge, especially when we consider that most token project founders were ordinary employees who worked for a paycheck before the ICO fairy tale happened.
Captainaltcoin’s NANO price prediction 2021
NANO is as tied to bitcoin’s price action as the rest. NANO has the potential to benefit from another bull run if bitcoin continues its upward trend. After its massive bull runs, bitcoin usually experiences a cooling-off phase. This is when altcoins come in and take over. Often, their prices double or triple within days.
The pandemic outbreak sent the world into hybernation. It reflected badly on cryptocurrencies. We saw bitcoin lose up to 40% per day. The situation soon stabilized and bitcoin became the flagbearer of the crypto market. We have been in a bull run since summer, and if you listen to the analytics on social media and the journalistic desks, it is far from its local peak.
What does this mean for the NANO price in 2021
NANO will not shine as long as bitcoin continues to pull upwards. However, it will see an increase in its USD-denominated value due to the general rise of crypto prices. However, the NANO to BTC ratio could plummet to new all-time lows. It is best to hold your bitcoin funds until the price reaches its provisional peak. This will allow the altcoins to gain access to the market. NANO is a top candidate to make big gains as bitcoin profits often flow to bluechip altcoins, big cap coins, and then down to smaller and less well-known projects.
Most projects will fail. Some startups were created to raise funds and then disappear. Others would not be able to compete. However, most ideas are only good on paper but are ineffective for the market.
NANO Future Outlook
Over 95% of cryptocurrency projects and ICOs that have been successful will fail, and investors will lose their money. The crypto industry’s remaining 5% will be the next Apple, Google, or Alibaba. Is NANO included among that 5%
This is a difficult question to answer.
Technology-wise, NANO looks very solid and innovative in solving archetypal problems of blockchain-like scaling and decentralization. Nano’s business growth is very limited. They have very little merchant market penetration, and almost nobody outside of crypto circles is aware of them. This means that their brand presence is almost nonexistent.
Nano is competing against other payment coins. This is an arena that is full of heavyweights. It starts with the king himself – bitcoin and then follows by many projects like bitcoin cash (litecoin), dash, monero, etc. Its chances of success are slim.
Nano is also known for its poor marketing efforts or, more accurately, the complete lack thereof. Nano’s team seemed to have adopted the approach of “build it and they’ll come”, relying solely on technology and ignoring all aspects of business in a project this large.
Although they did increase their promotion efforts, particularly on Reddit, where Nano posts on r/cryptocurrency quite often, it still doesn’t reach users outside of the crypto bubble. Given the toxic nature of overpromotion in the crypto community, Nano may see counterproductive outcomes from its efforts.
Nano has very slim chances of succeeding unless their mantra “build it, they will come” surprises everyone and they land a big corporation that will implement them as a payment train. The probability of this happening is around zero.
What makes NANO successful?
What can cause NANO to rise? Can the price of NANO go up and improve the mood among its holders? Their allegedly superior technology is the engine of NANO’s machine right now. Because of the NANO network’s low usage and activity, the technology has not been tried in real-life situations. This is both from a security and implementation perspective.
NANO is also praised for its active community, which often participates in the development and maintenance of the NANO ecosystem through their own apps, platforms, and services.
What makes NANO so successful?
Adoption is key, especially for a payment currency like NANO. Nano is already in one the most difficult sectors of cryptocurrency, with many other projects competing for the same users. Based on past success, NANO is unlikely to compete with crypto bellwether bitcoin.
Can NANO reach $100?
A $100 milestone would result in a 65x increase over current levels. While not impossible, it is highly unlikely. This would put NANO at $13 billion, while bitcoin is $335k per coin. (If we assume that the BTC/NANO ratio remains constant).
NANO’s advantage is the low total supply of 133,000,000, which is already 100%. This means there is no inflation.
Is Nano dead?
It is not, as evidenced by their activity on social media and github. Although their Reddit and Telegram communities are active, engagement levels are lower than 2017’s. Coin is still listed on major exchanges, which shows that NANO is not dead.
All this means that NANO may survive a few orchestrated and for regular traders, completely unpredictable pumps, but most of the time, it will trade sideways with little volume and not much interest from the market.
The price of Bitcoin will depend heavily on the actions of BTC. Many analysts believe that BTC won’t make big moves this year. It is also hard to imagine NANO making any major moves. The team activity, technological breakthroughs or high-level partnerships will all influence whether the price of Bitcoin stays stagnant or increases.
Market prediction for NANO price 2021
Forecasting cryptocurrency prices is a gamble.
Let’s take a look at some of the most renowned publications and personalities and their predictions about the Nano price. This will give us another perspective to consider.
Walletinvestor, a popular website that provides technical analysis-based price predictions for various cryptocurrencies, is a well-known one. They predict that Nano will fall to $0.08 within one year. This prediction of price is extremely skeptical and likely inaccurate. The current price of Nano is much higher than it is today, and NANO would have to collapse to drop that price.
Prediction of Nano Price for Trading Beasts
TradingBeasts is a more optimistic algorithm and sees Nano at $3.53 by December 2021. This means that Nano will experience a solid 4.5x increase in price from its current level.
Cryptoground predicts Nano could reach $3.10 by 2020. They also added their Nano price prediction 2024 where they predicted that Nano could reach $27 in 2024.