Longforecast - How Accurate Are Their Predictions?
Longforecast is an asset forecasting website run by the Economy Forecast Agency. They use a unique methodology to provide original forecasts on a range of financial markets, including cryptocurrencies, forex pairs, stocks, commodities, and stock indices. Their market prediction is long term in the range of 5, 10 and 15 years.
Basically, the agency uses statistical and mathematical formulation to predict the price based on historical data. They factor in the market indicators: correlation, cyclic recurrence, the attractiveness of investment to investors, changes of asset availability, significant market events, regulatory events and algorithmic trading.
While no one can predict the future market with absolute certainty, the site uses various factors to make reliable forecasts. Therefore, you can use the site to complement the predictions from https://cryptopredictions.com/. While Longforeacts provides predictions for several cryptocurrencies, CryptoPredictions offer predictions for over 19 000 cryptocurrencies.
|Risk Warning: No one can predict prices of cryptocurrencies with total certainty, thus it is crucial to understand that the following price predictions serve merely as a suggestion of possible price development and are not intended to be used as investment advice.|
LongForecast Cryptocurrency predictions
Currently trading at $57 044, Longforecast predicts the cryptocurrency to average $51892 in May. In June 2021, they anticipate bitcoin to open at $49429 and close at $57 338, a 16% change. Bitcoin price is expected to average $53320 in June.
Longforecast predicts a $109 970 average price of bitcoin in December, closing the year at $106586. They expect the average price at the beginning of May 2022 to be $136 604 but increase significantly to a maximum of $16 985 in May 2025.
Bitcoin Cash price prediction
Bitcoin Cash is currently trading at $995.95, Longforecast forecast closing price of $1 097 for this month and an average price of $957. Bitcoin cash price is expected to average $2 233 in December 2021 if Longforecast prediction is anything to go by. Exactly one year from now, the price is predicted to average $2 152 in May 2022.
EthereumLongforecast predictions estimate the Ethereum closing price of $3 729 for the month of May 2021. The systems forecast the crypto to close the year at $10 242. The site estimates Ethereum average price for May 2023 to be $12 328.
Litecoin is equal to 272 dollars a coin in today's exchange. As per the Longforecast site, the cryptocurrency is expected to close the month at $335. The forecast predicts a close price of $839 in December. In one year, the cryptocurrency is projected to average $810 in May 2022 and close the month at $782, representing a -9.6% change over the month.
Dash is trading at $321.89. Longforecast predicts the cryptocurrency will close at $386 in May, representing a 20.6% change over the month and an average price of $350. Towards the end of the year, they expect Dash to be traded at $620 on average in December and close the year at $626. Longforecast projections show Dash might average $554 in May 2022. This is almost double the current price.
Ripple’s opening price for May 2021 is $1.58. The economic forecast agency forecasts a price increase to $1.80 at the close of the month, representing a 12.5% growth. The site also predicts Ripple’s $2.41 average price by the end of 2021. However, the price is projected to reduce over the following months to hit an average price of $2.23 in May 2022. With that being said, the forecasted price represents a significant increase from the current price.
LongForecast expects Cardano to attain a maximum price of $1.80 in May. However, the cryptocurrency price is expected to average $1.45 and close the month at $1.52. This is a 12.6% increase from the current price of 1.34. As per the site, Cardano is forecasted to retail at an average price of $2.56 by the end of 2021. However, Cardano is expected to hit $2.88, the highest price for 2021, in November. In May 2022, exactly one year from now, Longforecast estimates the price of Cardano to average $2.78.
Zcash is trading at $247 and is according to Longforecast expected to close the month at $310. The site further expects a minimum and maximum price of $199 and $332, respectively. Longforecast predicts the highest price in September, trading at $602. The price is expected to rise significantly within one year to reach a maximum price of $673 in May 2022. The average price for the same month is predicted by the portal to be $339.
Although Monero is trading at $422.65, Longforecast predicts a high of $698 before the end of May 2021. The site also predicts a price increase in the coming months to trade between $1010 and $1 254 in December 2021. By May next year, the site expects the price to reach a high of $1 812. However, the Longforecast system projects a dip thereafter resulting in an average price of $1 675 in May next year. This would mean for the cryptocurrency a fourfold increase from the current price.
NEO ranks as number 23 on the CoinMarketCap list of cryptocurrencies. It is trading at $97.52 and expected to trade within the $73.7 to $151.1 range within the month as per Longforecast prediction. Where is NEO expected to be in one year? The agency forecasts the price of Monero to range between $254.1 and $297.7 by May 2021. However, by the beginning of 2023, the price is forecasted to fall up to an average of $280.7 in May.
Stellar is currently traded at $0.532531. However, according to long forecast predictions, the price is expected to increase significantly and average $0.93 at the end of the year. The agency expects the price to average $0.91 in May 2021. In fact, the forecasts show Stellar might cross the $1 mark by June 2022. However, the site predicts the price will start to decline in 2023 to close May 2023 at $0.53.
So How accurate are longforecast predictions?
With these predictions in mind, you are probably wondering, how reliable are Longforecast predictions? Well, the site uses statistically generated predictions based on historical data. In other words, the agency provides predictions based on past market movements.
Here is the point. The Forecasts are not 100% certain. You should therefore incorporate other analytical tools, including fundamental analysis, price action. In addition, ensure you compliment the predictions with CryptoPredictions' forecasts. Remember, CryptoPredictions.com offers predictions for over 19000 cryptocurrencies. This gives you a vast range of cryptocurrencies to choose from.
Final Word on the accuracy of longforecast predictions
There is no holy grail in trading cryptocurrencies and other instruments. However, using expert predictions gives you an edge when investing in cryptocurrencies and other assets. In a nutshell, while technical prediction is handy trading tools, you should not solely rely on predictions.