An Ethereum (ETH)-based altcoin has rallied 500% since the start of the year. Despite this huge increase, the host and strategist of the YouTube channel, which is closely followed by the industry, thinks that the altcoin in question can rise even higher.
The anonymous server of InvestAnswers said in a new video that the Render Token (RNDR) could rise as high as $5.62 in the next bull market. The altcoin closed 2022 at $0.406 and is currently trading at $2.46 with a 505% gain.
The crypto analyst has outlined three different scenarios for the future performance of Render (RNDR) following the meteoric rise this year: a bear scenario, an “expected” scenario, and a bull scenario. He stated that the realization of the bull scenario could take until 2025.
“Price prediction for the next bull run… I have a bear scenario, my expected scenario and my bull scenario. And this bull run could go as far as 2025…
Depending on exactly how the burning mechanism works, I expect the number of tokens in circulation to be around 465 million by 2025, perhaps a little earlier. And in the case of the bear [3.68 dolar] will give us a market cap of $1.7 billion, in expected condition [4.87 dolar] $2.3 billion and then [5.62 dolarlık bir fiyat] will give the bull a market cap of $2.6 billion. If you’re in this business and you’re lucky enough to buy at $0.40 at the start of the year, $0.40 to $3.68 is a pretty good return for a few years.”
The InvestAnswers host also detailed the bullish scenario with several possible developments, including wider adoption and development activities:
“The price action since the start of the year has been dramatic. We need a big narrative to make a big comeback. So AI (artificial intelligence), decentralization, adoption should explode and earnings will again depend on the performance of the cryptocurrency market.
The adoption of rendering (RNDR) by businesses and individuals will be the key to success. They need some new developments and new features. Maybe a little more computing power is used for different things.”
You can follow the current price action here.