Polkadot price could plunge to $15

Polkadot price

Polkadot price is at risk of collapse, as analysts identify bearish indicators?

The cryptocurrency market has been dominated by investors as of late, with a few stocks experiencing enormous upswings in the recent months. The price of one POLKADOT Token (PDOT) is $0.0639. Moreover, it is trading around 0.000007 BTC and 0.000019 ETH on CoinMarketCap respectively.

Currently, PolkaDot Price is at risk of a collapse according to analysts and investors alike? Experts see two bearish signals to be foremost: lack of volume in particular major exchanges and low interest from buyers in general.

Polkadot price is on a downward trend

The coin has been on a downward trend since its peak in May when it was trading around 0.017 BTC. It is trading around 0.000007 BTC, which means the coin has almost lost its value more than 95% from its peak.

Experts say that investors have reduced their interest in Polkadot tokens because of what experts now see as ‘lackluster’ plans for real-world applications and even further lack of interest from buyers in general. With the current price, there is a 32% chance that Polkadot price will continue to fall. This is leaving investors with a grim outlook for PolkaDot, with some even stating that it’s time to abandon the cryptocurrency altogether.

What is the reason for the Lack of interest in Polkadot tokens?

In the beginning of its run, Polkadot trading was big. However, since then traders have reduced their interest in Polks as well as other major cryptocurrencies such as Tron and EOS according to analysts and investors alike. This reduction has left many investors going from pessimistic towards other cryptocurrencies at this point to downright skeptical about future fortunes for coins such as these. This was caused by the same reason that led to the downfall of all other cryptocurrencies: lack of interest in PolkaDot.

What are the consequences of this?

Polkadot’s price is dropping, while other cryptocurrencies rise and Polkadot remains at a majority. At this rate, Polkadot price might be irrelevant in a couple of years and investors will not be prepared for it.

What has happened is that PolkaDot left the realm of being just a simple fork and became a superhero character, he has been ignored by many investors who are now focusing on more important keys for success and thus have left Polka Dots to fall into obscurity. Some experts state that it could happen in a couple of years and it will be too late. They believe PolkaDot to be nothing more than another Ethereum fork and investors will not invest into it because of the lack of activity. At the time PolkaDot was launched, interest was at level 0, now it is around -5.

Will Polkadot ever revive back to it’s previous rank?

Polkadot price will never rise because the market is too small and the market cap of POLK is 5000. The only thing that could keep it alive is a large marketing campaign and new partnerships. This could make people interested on PolkaDot. But then again PolkaDot doesn’t have any intention to do something like this, since it doesn’t want to do anything but “fork Ethereum”.

This brings us back to our first question: are Polkadot tokens worth anything? No, they are not worth a penny, they should be used as a hobby currency like bitcoin and not be used as an investment in most cases.

How long will PolkaDot be relevant in the future?

Polkadot which was launched at the beginning of 2018 as a fork to Ethereum isn’t doing anything special or valuable at all. The main thing that PolkaDot is doing is to fork Ethereum, which basically means creating a new blockchain.

Polkadot will probably be relevant on the market in 5 years. This can be possible because the market is still very small. Moreover, the PolkaDot team is working hard to create a new blockchain that would be useful for people in the long term future.

The society will probably start using Polkadot in 5-10 years because of its transparency and security. Its main goal was to be a combination of Bitcoin and Ethereum maybe without vital differences, so it’s not difficult to see how this project will work.

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