Often referred to as “PayPal 2.0,” Request Network is a new type of payment system platform that allows anyone to request a payment (a Request Invoice) for which the recipient can pay in a secure way.

It is built on top of the Ethereum network, making it an ERC20 token. All of the information is stored in a decentralized authentic ledger. This results in cheaper, easier, and more secure payments. It also allows for a wide range of automation possibilities.

Request Network is a decentralized platform that enables anyone to request P2P payments, and makes business to business or business to client invoicing easier and cheaper as well. Request Network will definitely impact existing online payment systems such as PayPal, Stripe and powerhouse credit cards institutions (like Visa, MasterCard, etc.) by providing a cheaper and faster alternative.

Another thing to note here is that the Request Network is designed to work with any currency, fiat and crypto, and the receiver can decide to receive it in a specific currency.

REQ, as the rest of the market, is tied at the hip of bitcoin’s price action. If bitcoin embarks on another bull run, REQ can hope for one as well.

Since a strong Bitcoin move in 2020 is very likely, we can expect some swings and moves upwards by REQ as well. So 2020 will be a year of potential big moves (more likely upwards) and we can see REQ at least doubling its end of 2019 price value.

Of course, we speak about REQ price denominated in USD. In terms of its BTC value, it is more likely that BTC will outperform it and REQ will be worth less Satoshis by the end of 2020.

In general:

The main currency in cryptocurrency markets is Bitcoin and given this, altcoins tend to fuel Bitcoin runs and Bitcoin tends to do the same in return. Given this relationship, Bitcoin price movements (or lack thereof) tend to effect altcoin prices.

When Bitcoin goes up swiftly, it will likely:

In cases when Bitcoin plunges, it will likely:

When Bitcoin moves sideways, it will likely:

To summarize, Bitcoin is the focal point of the crypto market in many ways, and with BTC trading pairs on every exchange, the gravity of Bitcoin is hard to evade.

Overall, the price change of any altcoin token is explained by the dynamics of the bitcoin-influenced market. However, there are also fundamental reasons for the individual token rise and fall in price, which can be pinned down to a big tech upgrade or more often, big partnership.

The majority of projects will fail — some startups are created just to gather funds and disappear, some would not handle the competition, but most are just ideas that look good on paper, but in reality, are useless for the market. 

Vitalik Buterin, co-founder of Ethereum said:

“There are some good ideas, there are a lot of very bad ideas, and there are a lot of very, very bad ideas, and quite a few scams as well”

As a result, over 95% of successful ICOs and cryptocurrency projects will fail and their investors will lose money. The other 5% of projects will become the new Apple, Google or Alibaba in the cryptoindustry. Will REQ be among those 5%?

Very improbable.

Use case is definitely interesting but the implementation is miserable. The team appears to be incompetent to pull off what they jotted down in their whitepaper. Add to that a very toxic and disappointed community, REQ seems to be heading to zero, dying a slow death.

Most of altcoins simulate activity to prevent exit-scam accusations from holders but they are well aware that their project is a dead end, a sinking ship with a crew that left it long time ago. REQ looks like one of those projects.

All of this summed up means one thing: REQ might live through couple of orchestrated and, for a regular trader, completely unpredictable pumps but the majority of time will be murky sideways trading with small volume and no significant interest from the market.

Price will heavily depend on what BTC will do and since many analysts think BTC will not be making big moves in this year, it is hard to expect REQ will do them either. The price will probably stagnate and record slow-moving depreciation or appreciation depending on the team activity, potential technological breakthrough or high-level partnership.

With the market being completely unpredictable, forecasting the cryptocurrency price is really more of a gamble and luck rather than a data driven guesstimate.

Let’s throw a glance at the eminent publications and personalities, and their predictions regarding the REQ price, which will give us another point of view to consider:

Cryptoground.com is cryptocurrecy prediction algorithm that is moderately bullish on most of coins, similarly on REQ token as well. The forecast REQ to climb up to $0.09 per token by EOY, which means a 4-5x increase in comparison to the current price.

Walletinvestor is a popular website that does technical analysis-based price predictions of various cryptocurrencies and traditionally has a skeptical outlook for most coins, including REQ. According to them, REQ is expected to drop and be two times less valuable $0.012 per token in one year.

Trading beasts is much more bullish on Request Network token and forecasts that REQ can climb to around $0.19 within a year which means it will essentially grow 10x in value in the next year.

Digitalcoinprice gave a moderately optimistic prediction saying that by 2020 end, REQ might be worth two times more than now – around $0.05 per token.

Request Network token (REQ) has been one of the most hyped ICOs. However, despite the big hype built behind it, there is a shroud of doubt around the token’s viability and general competence of REQ team to pull off the laid out plan. The only driving force for the REQ price is marketing gimmicks and speculation; however, long-term REQ doesn’t seem to be a solid investment and price in 2020 might be artificially held around the same level as now – $0.02.

If REQ survives to see 2023, which is highly unlikely, the token would surely be at 10-100x of the current value which means it would be at $0.20 – $2.00 per token.

If REQ survives to see 2023, which is highly unlikely, the token would surely be at 100x+ of the current value which means it would be at $2.00+ per token.

Predicting prices of novel, highly volatile and risky asset classes is a thankless task – best answer is no one knows. Educated guess is that realistic REQ price for the foreseeable future is somewhere between its current price and zero.

The post Request Network (REQ) Price Prediction 2020 – Is There Any Future For REQ? appeared first on CaptainAltcoin.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

172 +