Seasoned investors know that past prediction isn’t necessarily a good predictor of future performance. So, if you’re looking at the historical price action of Power Ledger, it doesn’t mean the Power Ledger future price movement will behave in the same way. This article will explore possible directions of Power Ledger’s future price and give a Power Ledger price prediction for 2021.
What is Power Ledger?
Power Ledger is a distributed ledger energy project that enables people who installed solar panels on their homes to sell the excess energy to other users, store energy in batteries for selling later, or sell that energy to their suppliers. Dr. Jemma Green, an investment banker and PhD holder in electricity market disruption, and John Bulick, a pioneer in Australian blockchain development, founded Power Ledger in Australia in 2017.
Power Ledger’s historical price
Power Ledger launched its ICO in October 2017 for $0.09 per coin and reached an all-time high of $1.89 in January 2018. The price fell steeply during the aftermath of the Bitcoin bear market in 2018 and traded between $0.05 and $0.10 in 2019. It recorded its all-time low of $0.0318 in March 2020 following the asset price crash that was caused by the outbreak of the pandemic. Since, the POWR token has reversed course and is trading at $0.28 as of August 2021.
Power Ledger’s future price
The Power Ledger future price will depend on a number of factors, such as the overall performance of the cryptocurrency market, whether the company can deliver on its promise of offering a simple solution for peer-to-peer power trading, potential partnerships with existing energy businesses, and the broader macroeconomic situation.
Peer-to-peer energy trading is a juicy market to get involved in, considering the micro inefficiencies that could be exploited, such as one settlement having an oversupply of energy when another one lacks energy. However, this market is also riddled with local market regulations and permits, making Power Ledger’s future price movement somewhat dependent on the goodwill of regulators. In the long run, the price should appreciate, particularly with green energy gaining in importance.
The Power Ledger price prediction 2021
Even trickier is this year’s Power Ledger’s price prediction. 2021 has been an especially volatile year in the already fickle cryptocurrency market, and tokens like POWR suffer disproportionately from this volatility. Still, looking at the historical price movement, it seems like POWR has left the dark days of trading below $0.10 behind. The coin is up 180% year-to-date, but it is down from its April 2021 high of $0.65. With Bitcoin consolidating between $30,000 and $40,000, Power Ledger will close this year in the green.
Therefore, the Power Ledger price prediction 2021 ranges between $0.20 and $0.40. The lower end would mean continued weakness in the price of other crypto assets while trading around $0.40 would be a testament to the crypto market continuing its recovery from the April highs. In that case, higher highs in 2022 are likely for Power Ledger’s future price.