The rapid development in computing technology and the insatiable demand of consumers for more powerful devices have created a situation where there is significant idle computing power in millions of households worldwide.
That's untapped computing power that can be utilized in many computing extensive work. While there had been many initiatives to tap into this resource, it has not gained much support since there are not enough incentives for people to participate in such efforts.
One such project that may hold the key to address this challenge is Golem, a blockchain-based project that focuses on building decentralized infrastructure for incentivized sharing computer power.
This enables users to share various computing resources and be rewarded Golem Tokens (GNT), which in turn can be traded with other cryptocurrencies or fiat. Its unique use case and the cloud computing industry's projected growth in demand makes it an exciting addition to any investor's portfolio.
But just how high can GNT get? In this Golem price prediction, we are going to analyze everything about the project to help investors determine whether or not it is a good investment or not.
Golem Historical Price Analysis
The Golem project was able to raise around 8 million USD in a GNT token sale they conducted in November 2016, just a few months after bitcoin's second halving event.
Each GNT was priced at $0.01, giving those who participated at the time much to celebrate about as the token is currently trading at $0.04, netting early investors a whopping 400% ROI if they have held from the very beginning.
Unfortunately, some investors jump in the Golem bandwagon during the late 2017 and early 2018 crypto bull run, which saw the price of GNT reaching $1.
To put it bluntly, those who entered the Golem market in the last crypto bull run have become bagholders of this high potential project.
The price of GNT somewhat recovered when its mainnet launched in April 2018 but was short-lived, as its price began its gradual descent to its current levels and have traded sideways since 2019.
The prolonged uneventful price action has given the time for the most ardent supporters of the project to accumulate GNT just in time for the next bitcoin mining halving event. It seems that GNT is poised to make some big moves sooner or later.
Current Price, Market Cap, & Supply Details
Golem (GNT) Future Price Forecast Predictions
General Market Sentiment
The general short term market sentiment is bullish.
The current crypto market is in an upswing, with the prices climbing higher.
We are experiencing an altcoin summer. GNT has been doing well under these conditions.
The medium-term market sentiment is bearish as we have not broken all-time highs. The price one year from now could be lower.
The longer-term market sentiment is bullish. Regulators are pushing for taxation. This seems to bode well for the future, creating legitimacy for the whole crypto industry.
Each quarter more and more companies are either adopting blockchain technology for their business or implementing them into their business processes.
Increase of Utility and Demand
A key consideration in this Golem price prediction is utility and demand. A project that has no real-world application will not have a long future.
Unfortunately, the increase in utility is slow-paced with Golem. In their defense, they are releasing a very sophisticated product that needs to work and compete with big business.
If Amazon web services fail a company for whatever reason, the perception is the IT department of that company is to blame.
Crypto products and services are held to a higher standard, and if the product fails to deliver one larger institution, the ripple effect could destroy a decentralized network's credibility.
Golem has taken this to heart with an 8-year project timeline that could deliver a global decentralized competitor to the industry of cloud computing.
The current cloud computing market's major players are:
- Amazon Web Services
- Microsoft Azure
- Google Cloud Platform
Delivering various services:
- Infrastructure as a service (IaaS)
- Platform as a Service (PaaS)
- Software as a Service (SaaS)
While these are and are not Golems direct competitors, currently, they do compete in the same industry to deliver services to the limited number of clients with limited budgets.
Once Golem has completely rolled out Brass Golem, Clay Golem, Stone Golem, and Iron Golem. It will be directly competing with most of these companies in some way for market share.
Rejuvenated Public Crypto Interest
The bitcoin halving has reignited crypto interest in the near term. Altcoins have been pushing hard to steal Bitcoin dominance (The value of the total market compared with Bitcoins value expressed as a percentage).
The higher the dominance percentage value generally means that altcoin prices will be lower as investor confidence has shifted to Bitcoin over other altcoins.
Additionally, Dapp's have been doing exceptionally well. Both in financial transactions and applications built.
Funds are flowing into the Ethereum network. Developers are flocking to build on smart contract blockchains as universities are focusing more heavily on crypto development in their computer science and business departments.
Etherium is a commodity and not a security. Golem is an ERC20 token on the Ethereum network. This has been one of the reasons Dapp's have expanded in production and use.
Ethereum's DeFi (decentralized fiance) has benefitted from this greatly. This success has led to hasty development and edge-case vulnerabilities.
DeFi needs immediate solutions as their dapp has had some serious exploits recently and throughout it's past.
This could be blamed on the community of decentralized exchanges and users needing to try out new products and services immediately before security experts test them effectively.
The root cause has more to do with the pace of development. It's frantic and decentralized. This decentralized non-coordination makes it nearly impossible to secure these smart contract blockchains completely.
In this respect, GNT taking time to release a complete functioning product they have tested is more positive for the price prediction than negative.
Ethereums scaling issues are also a major concern that could cause this project to fail. Etherium is actively working on this issue.
Short Term Forecast
Long Term Forecast
Golem Price Prediction 2020
We are expecting to see some exciting price movement for Golem GNT token after the bitcoin halving event. Bullish sentiments are high as the leading cryptocurrency in the industry is expected to make some major positive price movements after cutting its inflation rate.
It is a widely known phenomenon that the prices of most altcoins are directly correlated to the price movement of bitcoin.
Hence in the short term, we are expecting the price of GNT to experience some major upside movement, which may range from 15%-200% depending on the performance of bitcoin.
The current price of GNT at the time of this writing is around $0.04, which means we are predicting a price movement of $0.046 – $0.084 in six months.
We also expect that this momentum will continue until next year, where historically, cryptocurrencies experience a more significant bullish price action after a halving event.
If proven correct, we expect the price of GNT to go up as high as $1.50.
Golem Price Prediction 2022
The effects of the third halving event of bitcoin would have dissipated by the time we reach this year. By this time, a new all-time high (ATH) would have been reached, and we expect to see some profit-taking place.
That is the reason why we predict some pull-back from its price from a new high of $1.50 to $0.90.
There is a possibility that the price of GNT may thread lower; however, we would like to believe that the Golem team would have delivered many of the products they have promised 6 years into the project's existence.
Our mid-term GNT price prediction ranges from $0.90 to $1.25, and we believe that the trading prices of GNT will move along this price range.
GNT will be trading horizontally through this range and may experience some occasional uptick and dips generally reacting to the price movement of BTC.
The year 2022-2023 will be an exciting year for GNT as it enters its development phase 11th-hour and a year before the 4th bitcoin halving event.
Golem Price Prediction 2025
By this time, another halving event of bitcoin would have occurred, signaling the start of another new industry-wide cryptocurrency bull run.
More importantly, all the pieces of Golem's infrastructure would have been released if the Golem team follows its 8-year development time frame.
It is likely that GNT will reach new ATH at $2.50 each GNT and may go parabolic the following year. If all goes well, we will not be surprised to see the price of GNT reaching $5.25 per USD.
The price of GNT may go higher if it will be able to capture even a fraction of the cloud computing industry in the year 2025.
Is Golem a Good Investment?
GNT is a well-established project, with a ready to use the product. This product has interesting and practical use cases and makes business sense if they can deliver cheaper than their competitors. GNT makes this claim, but this needs to be reviewed on a use case by use case basis.
There have been complications and delays in the completion of the project, and the market has lost interest since 2017.
The negative price since 2017 is a direct result of this. This does not mean the current market players have solved any of the use cases.
Golem seriously needs to take on proven businesses to demonstrate their use cases and not merely survive but thrive. Marketing is vital in this respect.
Golems marketing has been terrible at getting the technology into the hands of users who could greatly benefit from this product.
The capital outlay for a new computer or server is crippling to most modern and established businesses. Businesses are worried continuously about overheads and cashflow.
Renting is the logical choice as this reduces idle time where the machine is not working and generating revenue.
Golem is working on marketing but not fast enough as the team is stacked with developers. They have an outsourced dedicated marketing department.
Golem's choice not to market as heavily could be for strategic reasons. They could be waiting for the right time to engage with businesses and end-users.
We feel Golem needs a lot of development before it is ready to compete with global cloud computing players. Golem is used actively for CGI rendering.
The potential for price volatility soon is very high. Golem has a high level of liquidity and can easily be traded against Etherium (ETH), Bitcoin (BTC), and stable coins (USD).
Golem survived the bear markets of 2018, and in 2019 the price dropped dramatically. But the developers are hard at work. This was laid out as an 8-year project.
Quantum computing could be a severe threat in the next 10 to 20 years. This would only affect the market for shared resources minimally as the research and development costs are astronomical.
The first product to market will be expensive to lease time on and could be initially used by governments and mega-corporations solely.
If the cost reductions follow the general curve of technology adoption, quantum computers could be as publically accessible as desktop computers in 40 to 60 years.
This would not affect the model of GNT, as quantum computers could be integrated if development continues for that long.
How to Buy Golem?
Interested investors can purchase Golem in many of the leading centralized exchanges (CEX) around the globe. It has been listed in more than 90 markets and can readily be bought using the various payment options available in these trading venues.
Some of the most prominent exchanges where traders can buy and sell Golem includes Binance, Coinbase Pro style=”font-weight: 400;”>, Bitfinex, Bittrex, Huobi, Poloniex, and OKEx.
All of these exchanges have a relatively high trust rating, and we recommend using them to purchase this digital asset.
Alternatively, those who are not keen on buying Golem in centralized exchanges can use Ethereum-based decentralized exchanges (DEX) like IDEX, one of the leading decentralized exchange for ERC-20 tokens.
Traders can also purchase GNT in Uniswap and Kyberswap, which are categorized as instant liquidity DEXs.
It must be noted that the only way to purchase in these trading venues is with the use of non-custodial wallets using Ether or other ERC-20 tokens.
Another way to buys Golem tokens is through instant crypto exchanges like Shapeshift, ChangeNow, and Changelly.
Buyers can use crypto and fiat to buy GNT in these exchanges; all they have to do is to indicate where they want to receive their GNT.
Unlike decentralized exchanges, it does not require non-custodial wallets. Wallets from exchanges and wallet providers are totally fine but are less secure compared to non-custodial wallets.
More Information About Golem
What is Golem?
Golem (GNT) is an Ethereum based project, focused on sharing computer power. Their vision is to create a decentralized global supercomputer.
This allows users to rent out their idle computer, laptop, and server resources. These include various computing components, including CPUs, hard disk drives, RAM, and GPU's (Graphics cards).
The use cases include but are not limited to CGI rendering and other VFX (visual effects) processes for the movie and advertising industry, Machine Learning, Scientific computing, Video Transcoding, and many more. This bodes well for the Golem price prediction.
How does Golem (GNT) work?
The requestor (person who needs the work done) sends the task to the Golem network. They then select a provider or providers (computer responsible for working on the task) based on resources and their trust level within the ecosystem.
The task is broadcast to the provider or providers, who completes the computations and returns them to the Golem Network. Data packets are reassembled and sent back to the requestor.
Payment is sent via smart contracts to the network and distributed to the provider or providers.
The Golem Team
The team consists of 31 members, stacked with software engineers. Piotr Janiuk is the acting CEO, CTO, and Co-Founder. Aleksandra Skrzypczak is the acting COO and Co-Founder. Both previously worked together at Imapp since 2014.
The Golem project timeline has not gone as expected. The team has produced a functional Brass Golem, running on the main net. Golem is ready to download and use.
Brass Golem is the 1st stage. They have also started on Clay Golem, the 2nd stage and Golem Unlimited, which is almost production-ready.
There is still a long way to go. The team has been working on Golem since 2016.
Their Github is alive with commits (commits show changes to the code, revisions, and updates), this project is very much active and pushing to change the way complex computing problems are handled.
The strong team and Github commit to pushing the notion that this app will do well in the future, adding to a positive long term price prediction.
Their lack of meeting deadlines does the complete opposite for the price prediction.
Delays in program development aren't a bad thing if the finished product is stable and performs as expected.
Financial constraints don't seem to be a problem yet for Golem meeting their goals despite the delays.
Golem Price Prediction Conclusion
GNT is making progress developing cutting edge services that work today. Their development is not complete, and the real power of Golem will come from their fully developed version, which is years from completion.
The amount of time this team may need to complete Golem is unknown and could run years past their original goal.
Golem (GNT) had an ICO each token sold at +/- $0.01. As such, the Golem Team does have a seriously large reserve of ETH.
Completion of the project should not be a problem if they manage their funds wisely. All participants in the ICO still have a significant profit despite the GNT prices nosedive.
Looking at the charts, the prognosis looks grim for Golem as the price slips lower and lower.
If Golem goes below one cent, their chances of survival are slim, with only the most dedicated investors holding on.
The projected value of global cloud computing by 2025 will be $712.83 billion. If Golem captures 1% of this market, each token could be valued at $7.12. Can GNT achieve this market share?
All long term investments should be transferred off your favorite cryptocurrency exchange and backed up by a hardware wallet—additional backup of your hardware wallet in multiple locations.