Algorithm Based Forecasting The GLM Token Price For January End | Comparing 2 Bullish and 2 Bearish Predictions

3 min read

A few price prediction services which use different methods have released their outlooks on the short term price ranges for GLM. There were two bullish, and two bearish predictions for the short term price movement for the token. They are compared in this article.

Golem Summary and Utility

Golem is a flexible, open-source network for peer-to-peer (P2P) sharing of digital resources including idle computing power. Examples of projects being built on the network’s modular architecture include machine learning, data analytics, video transcoding services, CAD simulators, chemistry simulations, and image and video rendering.

Golem was founded in 2016 by Julian Zawistowski, Andrzej Regulski, Piotr Janiuk and Aleksandra Skrzypczak. In November 2016, it was one of the first blockchain projects to raise money from crowdfunding to build the network. In 2018, the initial implementation of the protocol, Brass Golem, was one of the first applications launched on Ethereum’s live network, or mainnet.

The current version of the Golem platform, with a new architecture, was launched in 2020, and its former native token, GNT, began its gradual migration to the GLM token in November 2020. GLM has the same maximum supply of one billion tokens, all of which are in circulation, giving it a current market capitalisation of $420m.

Golem has migrated the token to the ERC-20 format, which requires ERC-20 tokens for the Ethereum Layer 2 transaction framework. When the GNT token launched in 2016, ERC-20 was not widely adopted. It has since become the standard for applications across Layer 2, decentralised finance (DeFi) and decentralised exchanges (DEXs). Golem was one of the first networks to implement Layer 2 payments.

In September 2021, Golem launched Thorg, a mining application featuring Layer 2 payment built on the Polygon network. On 8 December, Golem released Beta IV, with support for its new Polygon mainnet payment driver.

There are several advantages to Polygon over ZkSync, the previous payment driver, the announcement noted. On ZkSync, fees for transferring GLM are around one GLM per transaction, whereas on Polygon, transaction fees are 100-200 times lower, depending on the gas price. Polygon transactions are finalised after 128 blocks, or around five minutes, while blocks on ZkSync can often remain pending for hours. The cheapest off-boarding on ZkSync involves converting GLM to USDC, but USDC is supported on Binance and Gate.io via direct deposit from Polygon, without having to first bridge to Ethereum.

Token Trading History

The golem token started trading in November 2016 at $0.01505 and spiked to $0.7258 in June 2017. The price reached its all-time high of $1.09 in January 2018, joining in the broader cryptocurrency market rally, then retreating as the market crashed in April 2018 to $0.1937. The price spiked again to $0.9112 in May 2018, and subsequently fell back to around $0.10 until the end of 2020.

As the markets rallied again in early 2021, the GLM price spiked to $0.6901 at the end of March. When the markets collapsed in May, the GLM price dropped back and bottomed out at $0.1665 on 22 June. The price peaked again at $0.9336 on 28 November as Layer 2 tokens in particular staged strong rallies, but it was again unable to hold on to the gains and ended 2021 at $0.4558. The coin has largely traded between $0.40 and $0.50 so far in January.

Are you interested in trading the golem cryptocurrency? Read on for some of the latest predictions for an indication of how the price could move in the future.

Golem price prediction: Where will the coin trade in 2022?

Technical analysis from CoinCodex is bearish at the time of writing on 18 January, with 23 indicators showing bearish signals and six giving bullish signals. With GLM trading around $0.41, CoinCodex predicts that the value of the coin could drop by 7.23% to reach $0.383455 by 23 January.

The golem (GLM) coin price prediction from algorithm-based forecasting site WalletInvestor is bullish on the long-term outlook, projecting that GLM could rise to $0.725 by the end of the year and move back to the $1 level by the end of 2023. WalletInvestor estimates that the price could rise to $1.64 by the end of 2025 and $1.972 by mid-January 2027.

DigitalCoin’s golem crypto price prediction suggests a slower growth trajectory based on historical data, with the price averaging $0.56397651402 in 2022 and $0.64569874735 in 2023. The forecasting site expects GLM to average $0.89131088351 in 2025 and $1.77 in 2029, with the price at $1.86 heading into 2030.

Gov Capitals golem (GLM/USD) forecast is more bullish at the time of writing (18 January), expecting the coin to spike back above $1 in March and end the year at $1.288. By the end of 2023, the price could reach $3.211 and by the end of 2025 the coin could trade at $8.761, based on the website’s deep-learning technical analysis.

It’s important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict what a coin’s price will be in a few hours, and even harder to give long-term estimates. As such, analysts and algorithm-based forecasters can and do get their predictions wrong.

It’s recommended that you always do your own research, and consider the latest market trends, golem news, technical and fundamental analysis, and expert opinion before making any investment decision. Keep in mind that past performance is no guarantee of future returns. And never invest more than you can afford to lose.

FAQs

Will the golem price go up or down?

At the time of writing, forecasting sites predict that the GLM price could rise in the future, although their predictions vary as to the level the price will reach in the coming years.

Can the golem (GLM) coin reach $10?

At the time of writing, forecast sites such as WalletInvestor and DigitalCoin do not expect golem to trade above $2 until the end of the decade, while Gov Capital is more bullish in its prediction, expecting the price to rise above $10 in 2026.

Forecasters can and do get their predictions wrong. You should do your own research to make informed trading decisions. Keep in mind that past performance is no guarantee of future returns.

Although the material contained in this website was prepared based on information from public and private sources that golemglobe.com believes to be reliable, no representation, warranty or undertaking, stated or implied, is given as to the accuracy of the information contained herein, and golemglobe.com expressly disclaims any liability for the accuracy and completeness of the information contained in this website.  

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