ALGO

ALGO


Price Prediction: is ALGO a Good Investment Today in 2022, and in 2025, 2030?

By BittsAnalytics

December, 2022

Current price and other data:

Symbol Price change (1d) Price (USD) Price change (1 week) Sentiment Sentiment change (1d) Sentiment change (1 week) Tweets volume change Trading volume change Volatility MarketCap
ALGO 0.235036 -3.47-1.58 0.480.44 0.09-10 -16.55.93 1670659924



In this guide we will look at the Algorand from several different perspectives:

  • social media analytics
  • pricing data
  • technical analysis
  • developer activity
  • news


Is Algorand a good investment - what does social media tell us about this?

Social listening is a strategy that allows for the monitoring of social media channels to find out what people are saying about individual coins.

Our web platform collects this data non-stop, processing millions of social media posts each day.

From this social media data we determine:

  • number of times Algorand or ALGO is mentioned in social media posts
  • sentiment (positive or negative) of social posts in which Algorand or ALGO is mentioned (we use state-of-the-art machine learning model to compute sentiment of posts)
  • what are the most frequent words/topics mentioned in positive or negative sentiment posts that mention Algorand or ALGO. This allows our users to see which topics/news are positively / negatively impacting the price of Algorand

Why can tracker of crypto social media mentions help?

Tracking of social media mentions helps, because the price of coins is often intertwined with activity on social media.

See in the chart below how there was years of disinterest in Dogecoin on social media, followed by spikes in social media mentions along with price rise:






Social media mentions of Algorand

Let us now turn our attention to Algorand. You can see the number of daily mentions of Algorand and ALGO in social media posts in the following chart.



Comparison of hourly number of mentions on social media of Algorand and Bitcoin





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Social media sentiment of Algorand

Daily social media sentiment of Algorand and ALGO is available in the following chart (for longer history dating back to 2017, subscribe to one of our plans):



Comparison of hourly sentiment of ALGO and Bitcoin



The interesting development and insights can often be obtained from same data but based on smaller, hourly interval.

You can get the mentions and sentiment of coins on hourly level as well, by subscribing to one of our plans.

Interested in just the crypto sentiment of Bitcoin? Check out crypto sentiment analysis of bitcoin.



Analysis of most frequent words in positive/negative posts about Algorand and ALGO

As part of NLP analysis of social posts we determine the words that are most often found in positive and in negative social posts about Algorand and ALGO, using NLP analysis.

Words that are most frequently found in positive sentiment social posts about Algorand and ALGO are:

high, long, risk, side, timeframe, asset, level, version, caution, live, medium, nft, price, win, new, news, buy, crypto, this, week, best, great, love, next, still, breaking, bought, top, market, good, bullish, change, blockchain, and, nice, prices, hour, 🇷, day, shuffle, thank, time, xrp, world, fam, first, available, 🚀, join, going,

Words that are most frequently found in negative sentiment social posts Algorand and ALGO are:

brother, s, algorandnfts, think, link, one, algo, algorand, i, the, algofam, like, need, last, you, get, btc, eth, community, it, t, see, total, 🔥, vol, sol, short, low, nfts, algonft, let, what, m, would, really, hrs, trending, collections, but, governance, algotrading, right, group, people, needs, that, better, bear, two, will,

See the 2D chart displaying full word analysis of social posts for this coin:







Interesting Reddit posts about Algorand

We collect interesting Reddit posts about Algorand, here is our selection of posts:

Reddit post
5 Mistakes Algorand Users Make
Source: https://www.reddit.com/r/AlgorandOfficial/comments/ze08ws/5_mistakes_algorand_users_make/
Algorand | Algorand Price Prediction | Algorand Crypto
Source: https://www.reddit.com/r/cryptocurrencyguru/comments/zdxar7/algorand_algorand_price_prediction_algorand_crypto/
? Algorand = (1) Dubai/Decipher22 (2) FTX exposure (3) Milkomeda EVM (4) Gov! (5) Ekosystem
Source: https://www.reddit.com/r/coinmarketbag/comments/zdoyxi/algorand_1_dubaidecipher22_2_ftx_exposure_3/
Optimum Prize Linked Staking: Security and Transparency
Source: https://www.reddit.com/r/algorand/comments/zdnsbm/optimum_prize_linked_staking_security_and/
ALGORAND ALGO #CRYPTOCURRENCY PRICE PREDICTION NEWS TODAY - TECHNICAL ANALYSIS PRICE FORECAST NOW!
Source: https://www.reddit.com/r/coinmarketbag/comments/zdmwe7/algorand_algo_cryptocurrency_price_prediction/
My governance was disconnected?
Source: https://www.reddit.com/r/AlgorandOfficial/comments/zdmuqw/my_governance_was_disconnected/
Buyers Rule Over Algorand Price, Enough To Break Above $0.26? | Europe Public
Source: https://www.reddit.com/r/CryptoCurrency/comments/zdmjuv/buyers_rule_over_algorand_price_enough_to_break/
Buyers Rule Over Algorand Price, Enough To Break Above $0.26? | Europe Public
Source: https://www.reddit.com/r/CoinBase/comments/zdm673/buyers_rule_over_algorand_price_enough_to_break/
Buyers Rule Over Algorand Price, Enough To Break Above $0.26? | Europe Public
Source: https://www.reddit.com/r/AlgorandOfficial/comments/zdm5te/buyers_rule_over_algorand_price_enough_to_break/
Buyers Rule Over Algorand Price, Enough To Break Above $0.26? | Europe Public
Source: https://www.reddit.com/r/algorand/comments/zdm5ls/buyers_rule_over_algorand_price_enough_to_break/
PlanetWatch on Algorand - Planets ASA - The most disruptive governance proposal of them all! Official Video!
Source: https://www.reddit.com/r/algorandASA/comments/zdlvdk/planetwatch_on_algorand_planets_asa_the_most/
PlanetWatch on Algorand - The most disruptive governance proposal of them all! Official Video!
Source: https://www.reddit.com/r/Algonauts/comments/zdltd6/planetwatch_on_algorand_the_most_disruptive/
Algo-Casino (Chips) Profit Sharing Commitment Window
Source: https://www.reddit.com/r/algorandcasino/comments/zdlsye/algocasino_chips_profit_sharing_commitment_window/
PlanetWatch on Algorand - The most disruptive governance proposal of them all! Official Video!
Source: https://www.reddit.com/r/AlgorandOfficial/comments/zdlrwe/planetwatch_on_algorand_the_most_disruptive/
PlanetWatch on Algorand - The most disruptive governance proposal of them all! Official Video!
Source: https://www.reddit.com/r/algorand/comments/zdlr1t/planetwatch_on_algorand_the_most_disruptive/
Red Cat - Is a new concept with the world's first "Play, Learn and Earn" system
Source: https://www.reddit.com/r/HodlersCommunity/comments/zdk1el/red_cat_is_a_new_concept_with_the_worlds_first/
Algorand Price Prediction! Algorand Today News
Source: https://www.reddit.com/r/coinmarketbag/comments/zdi0u9/algorand_price_prediction_algorand_today_news/
70,000 Members post revisited…
Source: https://www.reddit.com/r/AlgorandOfficial/comments/zdgxnz/70000_members_post_revisited/
++ Käufer entscheiden über Preisaktion von Algorand (ALGO), genug, um über 0,26 $ zu brechen?++ #ALGO #Algorand #ALGOUSD #ALGOUSDT #brechen #entscheiden #Käufer #Preisaktion
Source: https://www.reddit.com/r/krypto_deutsch/comments/zdfa59/käufer_entscheiden_über_preisaktion_von_algorand/
Algofi Vault | Algorand Foundation Governance Period 5 is Live
Source: https://www.reddit.com/r/AlgorandOfficial/comments/zddoly/algofi_vault_algorand_foundation_governance/



Algorand technical analysis view

Using trading data, we compute potential support and resistance levels for all cryptocurrencies, current chart for Algorand:



Important technical analysis method is chart patterns analysis. We use AI to detect various chart patterns, here is the chart showing trendlines for Algorand:





Bull and bear markets of Algorand

A bull market is a period of general rising prices in the crypto, stock or any other financial market. A bull market is typically preceded by a bear market and followed by a bear market.

We define a bull market as appreciation of price by more than 30% and bear market a period when the prices fall by more than 30%.

Algorand has experienced a number of bull and bear markets in the past, see chart below:



2020-11-04
2021-02-13
2020-03-17
2020-08-14
2021-07-21
2021-09-13



What is Algorand biggest bull run ?

Algorand biggest bull run started on Nov 4th, 2020 and ended on Feb 13th, 2021.

During this time, the price of Algorand increased from 0.2313 USD to 1.7010 USD, resulting in a return of 635.4 %.



What is Algorand 2nd biggest bull run ?

Algorand 2nd biggest bull run started on Mar 17th, 2020 and ended on Aug 14th, 2020.

During this time, the price of Algorand increased from 0.1279 USD to 0.6541 USD, resulting in a return of 411.6 %.



Historical bull and bear markets of Algorand:

Symbol Start Date End Date Start Price End Price Return
ALGO 2019-06-212019-06-221.60493919889833.17236447566520.97662595433073
ALGO 2019-06-222019-08-023.17236447566520.55504196024076-0.82503840132544
ALGO 2019-08-022019-08-120.555041960240760.822137809615460.48121740067874
ALGO 2019-08-122019-09-280.822137809615460.1896309564836-0.76934407557257
ALGO 2019-09-282020-02-250.18963095648360.49175491829381.5932206819635
ALGO 2020-02-252020-03-170.49175491829380.12785051419508-0.74001172242735
ALGO 2020-03-172020-08-140.127850514195080.654142100232624.1164604565804
ALGO 2020-08-142020-11-040.654142100232620.23131442548467-0.64638505088969
ALGO 2020-11-042021-02-130.231314425484671.70104635227616.3538273659842
ALGO 2021-02-132021-02-271.70104635227610.9736637038941-0.42760895222445
ALGO 2021-02-272021-04-180.97366370389411.68939889201230.73509486412575
ALGO 2021-04-182021-04-261.68939889201231.0961599742773-0.35115384563106
ALGO 2021-04-262021-05-081.09615997427731.57660345462590.43829686507695
ALGO 2021-05-082021-07-211.57660345462590.70088296067534-0.55544752954912
ALGO 2021-07-212021-09-130.700882960675342.38292348777972.3998878863934
ALGO 2021-09-132021-12-212.38292348777971.3022228291842-0.45351882430873
ALGO 2021-12-212022-01-041.30222282918421.79090512246590.37526779774543


Other sources of historical data: Algorand free historical data for download

Algorand cryptocurrency API data

Download historical bull and bear markets data for Algorand by clicking on the button below :


Get csv of bull and bear markets

Sentiment of cryptocurrency news about Algorand and ALGO

We also compute sentiment for all the news that mention Algorand and ALGO. Here is an example of recent, sentiment annotated news about Algorand:

News Published
This Week s NFT Sales Slid 5 Lower Than Last Week Ethereum NFT Sales Accounted for 76 8 of the Volume
(source: https://news.bitcoin.com/this-weeks-nft-sales-slid-5-lower-than-last-week-ethereum-nft-sales-accounted-for-76-8-of-the-volume/)
15 h 48 min ago
Buyers Rule Over Algorand s ALGO Price Action Enough To Break Above 0 26
(source: https://newsbtc.com/news/buyers-rule-over-algorands-algo-price-action-enough-to-break-above-0-26/)
20 h 18 min ago
Best Crypto Staking Rates
(source: https://www.bitcoinmarketjournal.com/best-crypto-staking-yields/)
30 h 18 min ago
Earning Yield on USDC Best Lending Services
(source: https://www.bitcoinmarketjournal.com/earning-yield-on-usdc-best-lending-services/)
30 h 18 min ago
;

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Algorand price prediction - 2022, 2025, 2030

There are many possible approaches to price prediction of Algorand. Many of our clients decide to generate price predictions by using our API to download vast amounts of data we have accumulated since 2017 and then develop trading models using our data.

For backtesting, there are many excellent open source libraries available:








Algorand quick facts

Website Total supply Available supply Is minable? Proof type Algorithm Explorer
https://www.algorand.com/ 6714461078.3742 6255892459.3632 PoS - https://algoexplorer.io/





Is ALGO a good investment - quickly compare Algorand to other cryptocurrencies


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Cryptocurrency Price 24hr %change Social Buzz Momentum Sentiment Momentum Marketcap (mil. USD) Price prediction