Where Will DigiByte Be In 2025?
It is challenging to make long-term price predictions for anything, whether it is a digital currency or a real-life asset. Considering the volatility of the crypto market, by 2025, cryptocurrencies could be banned, people could lose interest in them, or interest could spike for whatever reason. However, there are indications that this DigiByte could experience short- and long-term gains. This positive DigiByte price prediction 2025 makes us hopeful, but let’s see if it is justified.
What Is DigiByte?
DigiByte is a modified version of Bitcoin that is more secure and faster. It is a coin that can be mined by five different algorithms, which ensures decentralization and enhances security. The blockchain includes the possibility to create digital assets and decentralized apps, launch smart contracts, and use secure authentication.
DigiByte is a truly decentralized blockchain driven by a community. It has never been funded by an ICO or bulks of premined coins. During its seven-year existence, the network proved its dedication to technological innovation with such advancements as DigiShield guard, SegWit implementation, Odocrypt algorithm, DigiAssets, and DigiHD.
These continuous efforts to make the DigiByte blockchain more efficient, secure, and stable are part of the reason for the predicted growth of the coin’s price. Let’s review the general market tendencies that may also have an impact.
An August Of Solid Gains Are Propelling Altcoins
August 2021 has been a good month for altcoins like Cardano and Binance Coin, but DigiByte has had a good run, too. On August 3rd, this coin was valued at $0.05 and finished the month at $0.07 on a new 90d high.
Among experts, there is little agreement on why altcoins have performed so well in August. One of the factors might have been the 11 percent of young Americans spending all or part of their stimulus checks on cryptocurrency, according to a survey by CNBC. It is likely that fears of short and long-term inflation wiping out the purchasing power was the spark that ignited this spending spree.
If these trends continue, there could be a steady stream of short-term growth in altcoins like Digibyte.
A Weakening Dollar Could Drive Altcoins To New Heights
2020 was not a good year for the United States. The pandemic and resulting lockdowns erased many of the economic advancements made during the Trump administration. Furthermore, there were riots following George Floyd’s death. These events shook the faith of many Americans in their government to the core.
2021 has been even worse for America’s public image. Having pulled out of Afghanistan, America has badly damaged its reputation as an ally. Undoubtedly, America’s allies will wonder whether it is a dependable partner. Would America fulfill its treaty obligations to defend the Baltic states if attacked by Russia? Would America support Israel if attacked by the Arab states or Iran as it did during the Yom Kippur War?
America’s track record of abandoning allies may be finally catching up to it.
The year has also shown that China and Russia are willing to cooperate when it comes to checking Washington’s power. Whilst China was holding drills off Taiwan and violating its airspace, Russia held an enormous exercise off Ukraine’s border. This exercise showed Russia could move troops, vehicles, and materiel a lot faster and at a larger level than America and NATO can.
Also disconcerting is that OPEC+ refused America’s request to increase oil production. This, after America has repeatedly defended OPEC’s interests in the Middle East for decades.
These events have not only weakened America’s public image, but have also shaken faith in the dollar. The dollar is a fiat currency, and people’s faith in it prop up its value. A sign that people are losing confidence in the dollar was the rapid rise of cryptocurrencies and tokens in 2020 and 2021.
What could kill the dollar is what conservative commentator Mark Steyn calls America’s coming “Suez Moment.” This references President Eisenhower’s threat to Prime Minister Eden to sink the pound sterling during the Suez Canal Crisis. China owns America’s debt and could do to President Biden what Dwight Eisenhower did to the Eden government to gain leverage over Taiwan.
If China sold America’s debt, that debt would finally mean something, and it would shake confidence in the dollar to the core.
Russia could apply pressure by refusing to accept dollars for its oil and ask for euros or another form of payment. With the completion of the Nord Stream 2 pipeline and a recent oil agreement with Hungary, Russia is now able to do this. The United States would be powerless to do anything about it.
These two potential events could kill the dollar as a world reserve currency. To protect their purchasing power, American citizens would flock to cryptocurrencies as they did in 2020. Every coin and token rose in value in 2020, and future crises on that scale would result in even more substantial gains.
Where Does Digibyte Fall In All This?
Because Digibyte is cheap and has room to grow, a substantial amount of people will look to it instead of the higher-priced coins and tokens. What is the point in buying a fraction of a Bitcoin when several Digibyte coins can be bought at a bargain price?
Anyone who wants to diversify their portfolio would do well to buy Digibyte and other alt-coins because there is every indication that they will increase in value.
