What is Civic coin? Civic is a real-time identity verification blockchain system that allows users to authorize the usage of their identities.
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Civic Price Prediction | Introduction
Cryptocurrency analysts continue to give a Civic price prediction for 2021 to 2022, which prominently predicts that CVC could be heading for major gains if price predictions concerning the Identity Verification SaaS turn out to be true.
At the time of going to press, CVC was trading at $0.45 based on data sourced from CoinMarketCap. Based on this figure, Civic enjoyed a market cap of $306 million with a fully diluted market cap of $460 million. The figures are quite impressive considering Civic is yet to hit maturity, as well as other factors.
Of course, there is a lot of variety in estimates for where CVC will go next, not only this from our introduction to CVC. Let’s check out what some experts say on matters CVC price prediction.
Civic Price Prediction: Technical Analysis
Civic is building a KYC & AML requirements compliance tool, which will be the most important pillar in taking the Decentralized Finance mainstream. Lately, the native currency of the platform –CVC- has pulled back after a short stance on steroids. So the real question is: Is this a bull flag, or is it the end of the run, for a while, for CVC?
Recently, CVC cleared a historic all-time high after a solid bullish performance that climaxed at $0.95, which was followed by a swift correction. One way we can judge the odds of CVC bursting through the resistance level that dates back to its historic rise is by checking its underlying momentum using the RSI indicator.
While CVC has been trading above its 50-day moving average for most of the year, the 50 DMA on the momentum has been flat-lining. Real Motion is also showcasing weak momentum, as it has consistently stayed flat. Currently, CVC is nowhere near making a dent on the 200 DMA, which makes this even more important because the last time the DMA was broken was a result of strong bullish momentum during the first week of September.
Based on the setup above, you can spot several potential entry levels on any pullbacks. In this case, averaging in and taking a one-out-of-three position at each level might result in a blended price of close to $0.708. That’s a whole lot lower than the peak price after earnings of $0.95, which is the price someone could pay for CVC if they chased for the crypto after a solid end-of-year run.
Civic Price Prediction is only one example, as there is a tonne of crypto that beat both top and bottom-line expectations and guided higher that have similar charts and required a tonne of patience as well. You can see in the chart above that CVC gapped sharply after the strong bullish momentum at the start of September, literally obliterating CVC price predictions back then.
There has never been a solid buy opportunity on the pullback for a nice trade ever since. However, it has set up another nice opportunity. The point is there are so many great chances that arise on such cryptos that beat all expectations, especially for the patient trader.
If CVC does clear the 50-DMI, this will greatly increase the chances that Civic can break to new highs as it shows that the momentum is following the price action. With that said, if CVC does not clear the 50-DMA, this could be sufficient proof that CVC could begin to struggle and may need more consolidation time to build enough strength to push new all-time highs.
Civic Price Prediction: Market Opinions
Civic plans to build a platform that it hopes will become the standard for KYC and AML compliance for the DeFi tool. Is CVC a buy? Much work remains for either the startup or the cryptocurrency to win over more investors, but there is plenty to go with to establish a possible path to success.
According to a forecast by WalletInvestor, Civic is not likely to break past its all-time high with a year but is in a position to double the value in 5-years. WalletInvestor project CVC could be trading at $0.703 by the end of September, $0.830 within a year, and $2.061 with five years.
Gov.Capital paints a severely different picture for Civic price prediction. According to the forecast, CVC will be valued at $0.54 within a year, which means there will be minimal return, if not losses, for investors, and the situation might not change in 5-years.
A forecast by DigitalCoinPrice suggests that the most sensible CVC price prediction for 2021 is $0.84, which Civic burst through at the beginning of September. However, the forecast projects CVC might not make any record-breaking moves by the end of 2022.
The price of CVC is forecasted to reach $0.65 by the end of October, according to TradingBeast, and remain at this trading range by the start of 2022. Within a year, CVC has the potential to rise up to $0.827 on a best-case scenario.
In any case, the consensus among cryptocurrency trading analysts is that the key to discerning the best possible CVC price prediction is to watch BTC. If BTC continues to rise, chances are CVC could gain the right amount of momentum to burst through its consolidation state.
Following the same argument, it is the general view that CVC’s worst-case scenario is a bearish move, which could be triggered by a dip by BTC. Popular analysts, KingAsh, forecasts that Civic price prediction is that CVC could dip to $0.212 by the end of Q2 2022.
Latest News and Happenings Concerning Civic (CVC)
Recently, the Civic protocol was employed by Black Fire Innovation, a hospitality technology hub by Caesars Entertainment Inc. and the University of Nevada, for age verifications on beer vending machines. The collaboration is no small feat considering the proximity to a world-class casino and resorts giant.
Earlier in the year, the integration to the Solana blockchain took center stage in the first half of 2021. With NFTs bursting into the world spotlight, Solana’s blockchain unlocks new opportunities for Civic given the major user flight from Ethereum forced by the hiking transaction fees. Identity will be a necessity for development projects to build safer and sustainable financial ecosystems.
Civic Price Prediction: Verdict
A quick glance at Civic price prediction reveal small-cap crypto that set itself up into the murky crypto-market waters and seems to be doing just fine. CVC price prediction could materialize, but taking some profit out of a healthy position could take some time. Civic may be one of the next cryptocurrency to explode this year.