Chia Price Prediction

XCH token became available for trading on May 3, 2021, with an initial price of $850, but skyrocketed to the all-time high of $1934 straight away, on the same day. It was corrected after that, going down to $612 and then the Chia Network coin was floundering till the middle of the month.

At that time the asset price got affected by Elon Musk’s complaints about Bitcoin’s energy consumption. As Chia Network offers a greener alternative to the main crypto, its price rose, reaching $1623 on May 15. XCH couldn’t sustain such a high price and in a matter of days coin’s value dropped to lows between $600-$700. It can be explained by the calming of the initial interest wave, but also by the news about hard drive shortages related to the mining of XCH tokens.

The summer season was signified by the overall bearish tendencies of the crypto market, and Chia Network token price started to fall down. On June 22 the coin was already traded for just $230, reaching the lowest level of the period. 

From the end of June asset’s price got stabilized and for the next month, it was traded around $220-$240. At the end of July, the price dropped even lower but started to recover in August as the whole market went up, though XCH couldn’t break through the resistance level of $261.

Even when most of the assets started gaining the price in September, the Chia Network coin’s value stayed low, and after short rising to $273 on September 6, the asset continued to fall, reaching $147 on September 29. 

In October the price couldn’t go higher than $170, most of the time being traded for around $155. In the first half of November, the token managed to reach $208 but was shortly pulled off back to the level of $140. 

Ever since that time XCH was in a constant downtrend, without any signs of a price recovery. In February 2022 the token was traded around $80-$85, but from February 20 it has stayed below $70. 

Many of the experts assume that the coin will move along with the Bitcoin market and can increase in value over time. But there is also an opposite opinion about the token and most of the experts predict the token to continue losing its value, which can shrink to $12 by the end of 2022.