THETA – forecast summary
| THETA forecast: H2 2021 Price: 8-12 Price drivers: cryptocurrency market, Theta Mainnet 3.0, technology |
THETA forecast: 1 year Price: 15-18 Price drivers: Increased acceptance and use, cryptocurrency market, technology |
THETA prognosis: 3 years Price: 25-35 Price drivers: global growth of the video streaming industry, new developments from THETA, crypto market sentiment |
The cryptocurrency that runs on Theta’s blockchain called the THETA token has seen a surge in the market recently after its price soared in the first quarter of 2021. Since then, the cryptocurrency has risen among famous cryptocurrencies like Bitcoin. made a name for Ethereum and Dogecoin. However, the May crypto market crash pulled the token down and struggled to stay near the highest point it hit in April, which fluctuates between $ 14.60 and 16.60 for various crypto brokers.
The price has turned bullish again after the bearish period for cryptocurrencies from May to June, in which theta fell to USD 3.50. Theta is now trading at double that rate, with a bullish bias, so it will continue to follow the rest of the market for the months ahead. THETA / USD is finding resistance on the weekly chart, which we will explore in more detail in the following sections, but if that resistance is broken this would be a good time to buy theta.
Currently, Theta is the 23rd largest cryptocurrency in the market based on a market cap of more than $ 7 billion. Mitch Liu is the Co-Founder and CEO of Theta Network. First, let’s introduce Theta Network and THETA Coin to better understand the price prediction of this cryptocurrency.
After the popularity of YouTube and other similar projects, video streaming became widespread in the world. However, despite their attractiveness, video streaming services still face many problems, including the high cost of content delivery networks. In addition to delivery problems on the last mile, the high-resolution streams demand high prices. With these issues in mind and the popularity of video streaming, the developers came up with a solution called Theta Network with their native token, THETA.
Theta aims to revolutionize the video storage industry through the use of blockchain technology. The project allows users to save the files in a decentralized format instead of hosting videos in data centers. Theta Network was launched in spring 2019 as an open source blockchain and peer-to-peer network to provide developers with high quality video streams at low cost. Content creators can create specialized dApps on the blockchain, while viewers can benefit from the rewards they receive after sharing their bandwidth.
Recent changes to the THETA price
| Period | Change ($) | Change (%) |
| 30 days | +2.46 | + 56.2% |
| 2 months | -2.21 | -31.6% |
| 6 months | +3.37 | + 95.5% |
| 1 year | +6.0833 | + 3786.6% |
| 3 years | +6.1143 | + 4433.9% |
THETA price forecast for the next 5 years
For the first few years of its existence, THETA’s price remained around the $ 0.10 mark. However, things started to change last year when the price broke the $ 0.20 mark for the first time in May 2020. In December 2020, prices topped $ 1, and then prices rose massively. From December 2020 to February 2021, the THETA coin had passed the $ 3.7 mark, and by March its prices rose more than 293% in a single month, reaching $ 14. It hit an all-time high of $ 15-16 in April and has been falling since then.
Like all other cryptocurrencies, theta struggled for most of the summer as the world’s second largest economy took a crackdown on cryptocurrencies. The Chinese government urged all financial institutions to somehow block all accounts trading cryptos. In addition, the government has started shutting down all cryptocurrency mining facilities operating in the country, which continued to put pressure on the market and dragged down not only THETA coins but others as well.
However, the outlook for the THETA token has turned positive since the end of July and is positive in the long term, as investors and fans were very interested in the launch of Theta Mainnet 3 on June 30, 2021. With this upgrade, TFUEL staking and uptime mining were introduced and led to more activity in the non-fungible tokens (NFTs) industry. In addition, the outlook for the coming years for THETA tokens also looks promising, as streaming videos is not going to go out of style anytime soon. The blockchain platform has started rollout in beta to appreciate a thriving decentralized ecosystem. Below are some factors that could increase the price of THETA tokens in the years to come.
Factors that affect THETA prices:
Global video streaming market growth – With the increasing popularity of the The video streaming industry, the dominant platforms in the industry including Netflix, YouTube, Hulu, Amazon Prime Video, and Twitch, have drawn a lot of attention recently along with other decentralized platforms. The entire sector is projected to grow at an annual rate of 20% from 2020 to 2027, and Theta Network may disrupt the current monopolized space of the sector by elite companies.
Theta’s blockchain is working to reduce the cost of the content delivery network related to the streaming services. It can also serve the existing giants with their technology and streamline both operations and costs significantly.
Growing acceptance – Many high profile companies like the video streaming industry giants mentioned above can take advantage of the highly efficient blockchain and the trend token in several ways. Theta is used to redirect throughput to the videos that are consuming the most bandwidth, which are also considered high performing videos due to the high traffic and viewership.
The companies that use the service provided by the blockchain protocol must hold theta tokens. At the same time, the network itself benefits from the purchase of a separate currency for gas via a fee-based system.
In this way, both parties can achieve higher profit margins as the theta network lowers costs, which makes this integrated lucrative platform more attractive for companies and investors. This high profitability characteristic is encouraging many video streaming service providers to adopt the theta network. Demand increases with popularity, which represents a bright future for THETA tokens.
Partnerships with a high profile – Another thing that has increased the popularity of the theta network and made it so attractive is its partnership with one of the shining lighthouses in the market. Theta’s famous partnerships include Google, NASA, and Samsung, among many others.
Google operates Theta’s cloud infrastructure, and Google’s users can operate nodes on the Theta network. Samsung users can enjoy Theta.tv on all Samsung Galaxy S20 smartphones. Partnership with brands like NASA and Nervos, as well as dozens of other content creators, is already growing and improving the prospects for the network-connected cryptocurrency.
Theta Mainnet 3.0 – With the introduction of the Theta Mainnet 3.0 upgrade, TFUEL introduced staking and uptime mining. The upgrade was scheduled for April 31st, but rolled out on June 30th, which will significantly increase TFUEL’s token economics. The theta blockchain has two tokens, THETA and TFUEL. The first is the governance token while the second is used to reward node participants and use them within the theta blockchain. The Theta Mainnet 3.0 burns at least 25% of every TFUEL used to pay the fees for the Theta blockchain. Incineration will reduce the circulating supply of TFUEL and eventually lead to increased demand due to the scarcity, and therefore the TFUEL and THETA price will have an increasing trend in the future. Theta’s future looks bright as it is more of a contender for the next YouTube in the decentralized world.
Technical Analysis – THETA / USD consolidates above double top
The THETA / USD coin is consolidating in a tight trading range of 8.40-4.06. On the weekly timeframe, THETA / USD has formed a symmetrical triangle pattern extending resistance at 8.40 while support lingers at 4.06. On the higher side, a bullish breakout above the 8.40 level could lead the THETA coin towards the next resistance levels of 10 and 12.40.
The 50-period EMA holds around 4.90. With the current market price of THETA above the EMA, we should consider buying the THETA / USD pair. At the same time, the RSI is holding above 50, which supports a bullish trend. However, the coin appears to face major resistance at the 8.40 level and a bullish breakout above this level could fuel further uptrends in the market.
THETA / USD – Weekly Time Frame – bounce off the 50 EMA
Typically, the symmetrical triangle indicates indecision among investors. Hence, investors will be waiting for a valid reason to enter the market. A bullish breakout above the 8.40 level could provide us with a strong buying opportunity to target the 12.40 and 18 levels. Conversely, the breakout below 4.06 may offer a sell trade as low as the 1.41 level. At the moment the bullish tendency dominates. Much luck!
Updated: August 25, 2021
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