The Tezos (XTZ) cryptocurrency aims to help power Tezos, a blockchain that adjusts itself and, theoretically, never has to go through a hard fork. What is happening to it, and what is the latest Tezos price prediction? Is Tezos a good investment 2022?
Tezos price history: Early years and growth
When Tezos was launched in the open market in 2017, it was worth a decent amount for a new coin. On 2 October, it was available for about $1.66. There were some ups and downs but, when XTZ started being traded, the cryptomarket was on the verge of a massive boom period. Tezos was caught up in this and shot up to an all-time high of $12.19 on 17 December 2017.
The price soon corrected itself and XTZ spent much of the next few months trading somewhere between $2 and $4. By July 2018, however, the price fell back to somewhere between $1 and $2, and this was followed by a spell in 2019 where it was worth less than $1. There was then some recovery to above $1 towards the end of the year.
In 2020, the first few months saw it traded around and above $3, but then there was pullback to see it hover around $2, and it closed the year at $2.02.
Positivity around XTZ price
January 2021 saw some positivity around the XTZ price, with a monthly high of $3.39 on 23 January followed by a close of $2.84, up more than 40% from the end of December 2020.
In February 2021, the ongoing boom in the crypto market saw Tezos caught up in the excitement, with a monthly high of $5.58 on 14 February representing a rise from the previous month’s best figure of just under 65%. The closing score of $3.41 was not just up 20% from January’s close, it was also slightly higher than that month’s high, too.
March saw more growth, with a sustained run above $4 culminating in a monthly high of $4.91 intraday on 31 March 2021. This high was followed by a very slight fallback to close both the day and month at $4.86. While the coin did not quite reach the heights it had hit in February, it managed to be more consistent and sustainable, with the price at close up about 42.5% month-on-month. This sort of sustainability would have served as a boost for a Tezos coin price prediction.
April 2021 was another month of growth, at least at first. The sustained spell above $4 meant the $5 mark would be next to fall, and that happened on the very first day of the month, with an intraday high of $5.38 followed by a close of $5.16. There was still more room for growth, though, and the $6 barrier was the next one to fall, with an intraday high of $6.46 on 6 April 2021.
The coin did not stop climbing, and the $7 mark was smashed on 10 April, before a monthly high of $7.67 on 17 April 2021. This rise was followed by a fall and the coin closed the month at $5.61, still up more than 15% from the end of March but down more than 25% from the monthly high.
Things changed in May. Initially, things still looked upbeat, and there was a monthly high of $8.40 on 7 May 2021. The price slid down but was still operating in the mid-to-high $5 mark when disaster struck.
The great crypto day crash of 19 May 2021 saw Tezos caught up in the maelstrom. On 19 May, the coin enjoyed an intraday high of $5.84, but then it lost more than half its value to hit an intraday low of $2.89. There was some recovery to close at $3.62, but the damage was done and the monthly close of $3.61 saw it down more than 35% month-on-month.
June 2021 saw a recovery delayed, with a month-on-month drop of more than 15% to $3.04. Remarkably, July saw the coin close at exactly the same figure, meaning that, in the more medium term, there was no movement at all.
August 2021 was a better time for the crypto. There was some growth and when the price hit $5.40 on 25 August, it was above $5 for the first time since May. It broke through $6, also for the first time since May, when it reached an intraday high of $6.13. The monthly close of $5.13 was not just up 68.75% from the previous month but, crucially, was the highest monthly close since April.
September and October saw more encouragement, with the coin reaching a flat $8 on 14 September 2021 for the first time since before the crash. While there was some pullback, the coin had a better closing price than any of the previous months of the year at $6.08, which was up about 18.5% month on month. The coin managed to hit its 52-week high when it stood at $9.18 on 4 October 2021. This was not sustainable, and it closed the month at $6.32, a month-on-month rise of just under 4%.
November and December 2021 were a comparatively weak period. The recorded high was 5 November’s opening high of $6.87 but the price spiralled down below $6 for a sustained period. The price had dipped to a closing low of $4.31 on 28 November 2021. Closing lows of $3.30 were recorded on 4 December, with a short-lived recovery to an average price of $5.91 on 9 December 2021.
This was due to multiple changes in an already volatile market. Omicron worries dominated investors’ minds, along with reduced investor confidence as a result of the tumbling value of Bitcoin, Ether and other major cryptocurrencies, as well as increasing state regulation.
January 2022 saw more worries for investors. XTZ had closed 2021 at $4.35, and the first month of the New Year saw it dip to $3.49 by the month’s end.
On 1 February 2022, a ‘State of the Network’ report from CoinMetrics revealed that Tezos transactions and smart contract activity had surged in the past year, largely due to demand from NFT platforms. According to CoinMetrics: “Daily transactions jumped in August of 2021 as Tezos launched an upgrade that cut average block times in half.”
It also showed that the number of addresses holding at least one XTZ, which recently surpassed 300,000, rose from 120,000 at this time the previous year. In addition, the number of active smart contract addresses has steadily been increasing – “likely as a result of new NFT contracts launching,” according to the report.
Any upbeat news following the report – and there was some, with the price rising to $4.59 on 9 February 2022 – was snuffed out when Russia invaded Ukraine on 24 February, which saw the price of XTZ drop to $2.57. There was then something of a recovery, with the price going up to $3.66 on 1 March 2022.
After that, though, came a slump and not even the news that Swiss fintech company Mt Pelerin was to launch a mobile wallet on the Tezos network could stop the price dipping below $3. On 14 March 2022, XTZ was worth about $2.96. Later on in the month, bullish market conditions pushed the price up and the growth continued into April, with the price reaching $4.12 on 2 April 2022.
When China instituted a crypto ban on 11 April 2022, though, the price of XTZ was hit and there appeared to be no way out of the slump, with XTZ trading at around $2.85 on the afternoon on 25 April. The price continued to drop and by 6 May 2022 it was worth about $2.45. Things soon got even worse and, with the depegging of the TerraUSD stablecoin and the collapse of its associated LUNA cryptocurrency shaking the market, it fell to $1.46 on 12 May.
There were some signs of recovery and, on 26 May, it reached a high of $2.25. But any dreams of renewal were, unfortunately for investors, soon put on hold, and the price fell down again. On 8 June 2022, XTZ was worth $2.04. The cancellation of withdrawals on the Celsius crypto lending network then confirmed that crypto was in a bear market and, on 18 June, XTZ fell to $1.20.
After that there was some recovery, with the coin reaching $1.78 on 19 and 20 July, but not even the news that the Tether stablecoin was available on the blockchain could stop it dropping to $1.51 on 25 July. Following that, though, there was a recovery which culminated in the crypto trading at $1.96 on 14 August.
There was then an overnight fallback and, on the morning of 15 August 2022, XTZ was worth about $1.81.
With that out of the way, let’s take a look at what people are saying about a Tezos price prediction. But do bear in mind that predictions are often wrong, and that most are made via an algorithm which can change at any time.
Tezos (XTZ) price predictions 2022
DigitalCoinPrice’s Tezos price prediction for 2022 says that XTZ could reach an average of $2.40 this year. Its Tezos price prediction for 2023 suggests that the token may trade at an average of $2.68. The Tezos price prediction for 2025 is around the $3.58 mark. WalletInvestor has a Tezos price prediction which sees it drop to $0.437 in a year’s time.
Gov Capital gives a more optimistic Tezos price prediction of $2.83 on 15 August 2023, and around $20.18 in five years’ time. The site's prediction for 2022 is for the coin to close the year at a little under $1.78. A Tezos price prediction for 2030 comes from PricePrediction and suggests XTZ will trade at an average of $42.97 that year.
Is Tezos a good investment 2022? Hope this article can provide you with a further understanding about Tezos price prediction.
