In this guide, we will share our and the market’s view of the future of CELO as we discuss CELO’s price forecasts for 2023 and beyond.
Keep in mind that you should take this and any other forecast with a grain of salt as predicting anything is a thankless task, let alone predicting the future of a new highly volatile financial asset like Celo.
Now, let’s get into it.
Before we delve into Celo price forecasting and answer questions about whether CELO is a good investment or not, why CELO will succeed or fail, or why the Celo price will rise or fall, let’s quickly take a look at what CELO is and its history to date.
Table of Contents:
What Is CELO?
Celo is a platform that serves as a global payment infrastructure for cryptocurrencies that aims to target mobile users.
The cryptographic protocol defines itself as a mobile-first decentralized financial platform (DeFi) for fast, stable and secure payment transmission. Through mobile phones, anyone can spend and earn without limits of requirements. The protocol was described by one of the first founders as the “WhatsApp of money”.
The Celo blockchain also enables the creation of decentralized applications (dapps) through its open-source proof-of-stake (PoS) blockchain, compatible with EVM. Development teams can easily and quickly create and deploy smart contracts on the Celo blockchain.
Like many PoS protocols, the network CELO token is used for network fees and governance-related tasks.
CELO is the native resource of Cele’s blockchain ecosystem, whose main goal is to introduce the convenience of decentralized finance, or DeFi, to underbanked smartphone users around the world. A utility token that uses a proof-of-stake consensus mechanism, CELO is designed to facilitate transactions and governance processes on the platform.
CELO Price Prediction For the next 90 days
The entire cryptocurrency world is on the verge of complete collapse. Bitcoin fell 75% from its all-time high amid broader market declines caused by furious inflation and the US Fed’s rate hikes.
When you add the most recent collapses of huge industry players (FTX, Celsius, Moon etc.) into the equation, the horizon is murky and there will be more blood on the streets of the crypto city.
Investors are selling risky assets and moving to more stable markets. Crypto is still perceived as a very risky game and therefore sell off.
Our algo still sees some green in 2023, especially in the second half of the year. This is reflected in our forecast for 2023.
Right now, Bitcoin needs to find a bottom before we can move in the opposite direction and reverse the trend.
Once Bitcoin settles into the new price range, altcoins will start doing the same – we’ve seen this scenario dozens of times in distant and more recent history.
Our price forecasting model is bearish for the next 90 days with a hint of a bull market straddling quarters from Q1 to Q2. We expect whales and other larger players in the market to finish filling their bags around that time, which will cause a typical and sudden crypto spike.
The fundamentals we evaluate are teams, tokenomics, use case, community, marketing efforts, liquidity and availability of exchange, hype and speculative potential, and some other proprietary factors developed in our crypto lab.
Celo Price Forecast 2023
Our forecast model calls for a temporary shift to a bear market in early 2023 before moving to another lead in Q3 and Q4 of 2023.
CELO Forecast 2025 – 2030 – 2040
Our forecasting model predicts that CELO will reach new highs in 2025:
$2.34
The CELO price in 2030 and 2040 is expected to be a couple of orders of magnitude higher than our 2025 forecast.
