In the ongoing 2020-2021 crypto bull run, Digibyte has outperformed many other coins and multiplied in value a number of times. To the point that the DGB to INR price rose from 1 in (July 2020) to 6 (in Feb 2021). After this amazing rally, many investors are naturally asking the question – is Digibyte (DGB) still a good investment? Has it run its course? Or is there potential for more pumps still simmering beneath its ticker?
Let’s find out.
The recent altcoin rally has shown us that fundamentally good tech products can pull extreme pumps, multiplying their value several times over. That is why to understand what top price prediction websites and companies say; we first need to understand what Digibyte is and why it has a strong community of holders in the first place. It’s only then that we will be in a position to explore Digibyte’s potential.
What is Digibyte?
Digibyte isn’t a young crypto. It actually boasts of a long history. Digibyte was first launched as a fork of Bitcoin in 2014; powered by PoW (Proof of Work) consensus protocols. But despite that similarity, Digibyte is 40 times faster than Bitcoin’s transactions.
Unlike other PoW based blockchains, Digibyte’s blockchain algorithm uses five mining algorithms to prevent centralization, which is one of the biggest problems in most of the current PoW based low-volume cryptocurrencies. Digibyte also has the most advanced difficulty scalability, making it more resistant to individuals with malicious intent.
Apart from being one of the most secure and decentralized blockchains out there, Digibyte also introduced DigiAssets in 2019. With DigiAssets, developers could host smart contracts, Decentralized apps, and customizable tokens in the Digibyte blockchain; making it a complete blockchain and a thriving ecosystem for the crypto community for years to come.
Dissection of the Digibyte blockchain:
Top layer: Smart contracts, customizable tokens, and decentralized applications
Middle layer: public ledger
Bottom layer: nodes and client software
This powerful technology created a strong community of holders over the years. Clearly, the fundamentals are in place. So what does the market truly think of Digibyte’s potential? Where is the Digibyte price headed?
Digibyte price prediction
Let’s begin with an aggregation of what the internet believes.
Short term: bearish
Long term: bullish
According to Wallet Investor, Digibyte’s rally is over, and the price action will move sideways for the whole year. But the five-year forecast of the coin says that it will register new all-time highs. Wallet investors say that the DGB price in INR will go as high as 10. That’s nearly 2x of its current values.
Digital coin price
Short term: highly bullish
Long term: highly bullish
Unlike Wallet Investor, Digital Coin Price believes that DGB will remain highly bullish in the coming years and that the Digibyte price is worth a good long-term hold. Digital Coin Price also believes that the price of the coin won’t fall from this level (as of writing this on 3/13/2021, DGB price in INR is around 6). Digital coin price’s prediction also says that in the coming years, we may see DGB’s price in INR going towards 20-21levels.
short term: stable
long term: bullish
CaptainAltcoin sees Digibyte as a strong tech and believes it will break its previous ATHs to register new ones. But, CaptainAltcoin believes that Digibyte price may also move sideways, considering that it does so after every huge pump. They also believe that reaching one US dollar level is a bit difficult considering the humongous supply of the coin.
Short term: bullish
Long term: highly bullish
Coinpedia is a big believer in DGB and its price potential. It believes that the current DGB rally has not yet ended; it has just paused. Digibyte can go as high as INR 8 by the end of the year. Coinpedia recommends Digibyte as a long-term hold since the DGB price in INR can move as high as INR 100.
All in all, Digibyte is recommended for a long-term hold of more than five years. Even though the short-term predictions are not very bullish for DGB, they are not bearish either; this is a good sign considering that cryptocurrencies are highly volatile assets.
It is also worth noting that these predictions are just for insights and not financial advice, and therefore it is important to do your own research before investing in any cryptocurrency or other risk-related assets.
If you are from India and want to invest in Digibyte or other cryptocurrencies, check out DGB on WazirX. Aside from DGG, WazirX has hundreds of cryptocurrencies to trade on with three base pairs – INR, BTC, and USDT. It also supports INR deposits and also has a P2P platform for users who want to sell cryptocurrencies through WazirX and get money directly to their bank account.