Bitcoin
BTC$20 353.32

-1.42%

Ethereum
ETH$1 151.44

-2.30%

Tether
USDT$0.998798

-0.02%

USD Coin
USDC$1.000111

0.01%

Binance Coin
BNB$229.09

-1.23%

Binance USD
BUSD$1.001320

-0.01%

Maker (MKR) Price Forecast for December 2019


December 2019

Maker is an Ethereum-based smart contract platform that has performed reasonably well in the last two years, despite price crashes and volatility of the crypto market. In fact, it has found strong support, which kept it from sinking for more than a year now, keeping its price above $500 almost constantly during this time.

At the time of writing, the project sits at the 21st spot on the list of largest cryptocurrencies by market cap. Its market cap is currently at $553 million, while the coin's price stands at $553.49, after growing by 1.09% against USD.

While MKR may have found its bottom at $500, many are still interested in how high the coin may go in the future, which is what we will try to determine today. However, first, let's take a look at how it performed until now.

Maker's performance


Maker was launched in late January 2017, and for the first half of the year, its price went from $24.31 to $290. After that, in early September 2017, the coin experienced a mild drop to $251, although it grew back to $279 by the second half of November.

Then, in early December 2017, its surge finally began, taking the coin to $1,645 by January 22nd. This was the coin's all-time high (ATH), and it represents its highest achievement to date, even though it did not last very long. The coin started dropping after only a few days at this level, reaching $1000 two weeks later. Briefly, it appeared as if this level might be strong enough to stop MKR from dropping, but it failed to do so for long.

By April 1st, 2018, MKR hit $500, which has been its strongest support ever since. Immediately after that, the coin surged once again, and it even managed to reach and breach the resistance at $1,000. Eventually, the resistance was too strong, and it forced it back to $500.

Over the next year and a half — to this very day — Maker has been fluctuating between $500 and $700, sometimes going above or below these two levels, but mostly being contained within them. The coin experienced its greatest stability after the end of 2019 bull runs, during the summer, when its price remained extremely close to $500, barely going up or down at all. Even now, MKR is only $54 above this level, which is not unusual for one of its fluctuations.

What is next for Maker?


As far as anyone can tell, MKR likely won't go below $500, no matter what happens. As for its probing of large resistances, the project had attempted to rise many times, although only briefly, before it was pushed back down.

As such, it shows the will to grow, although a relatively weak one, and it likely won't return to $1,000 or higher unless BTC itself starts leading a major rally.

With the end of the year being ever-closer, and Bitcoin still isn't making any moves up, many have started doubting that it will. If not, there is always 2020 that could lead to a new bull run or two. As for Maker, however, the coin has proven that it is a follower of the market trends, but not their maker.

Author: Ali Raza for Crypto-Rating.com

Related

Maker (MKR) Stands on the Slippery Ground
Maker (MKR) Stands on the Slippery Ground
Maker (MKR) Is Destined For Another Upswing
Maker (MKR) Is Destined For Another Upswing
Maker (MKR) Has Macro Resistance to Beat
Maker (MKR) Has Macro Resistance to Beat
Maker (MKR) Is Gliding Along the Resistance Line
Maker (MKR) Is Gliding Along the Resistance Line
Maker: In Anticipation of the Upward Move
Maker: In Anticipation of the Upward Move
Maker (MKR) Price Prediction for November 2019
Maker (MKR) Price Prediction for November 2019

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 60% 92 $20 353.32 -1.42% -0.53% $388 337 068 695 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 55.6% 90 $1 151.44 -2.30% 3.97% $139 711 766 983 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 96% 1 $0.998798 -0.02% -0.02% $66 744 611 923 USDT 7 days price change
4 USD Coin (USDC) USDC USD Coin predictions 94% 1 $1.000111 0.01% -0.01% $55 808 782 078 USDC 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 58% 89 $229.09 -1.23% 5.90% $37 404 633 525 BNB 7 days price change
6 Binance USD (BUSD) BUSD Binance USD predictions 92.8% 1 $1.001320 -0.01% 0.19% $17 406 616 075 BUSD 7 days price change
7 XRP (XRP) XRP XRP predictions 63.6% 80 $0.339621 -1.67% 4.92% $16 418 339 027 XRP 7 days price change
8 Cardano (ADA) ADA Cardano predictions 66.8% 75 $0.475803 -0.50% 1.15% $16 059 575 338 ADA 7 days price change
9 Solana (SOL) SOL Solana predictions 69.6% 66 $35.74 -5.16% -0.53% $12 249 479 023 SOL 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 64.4% 80 $0.067290 -4.07% 4.85% $8 927 450 724 DOGE 7 days price change
11 Polkadot (DOT) DOT Polkadot predictions 65.2% 78 $7.40 -2.37% -2.27% $7 303 239 049 DOT 7 days price change
12 Dai (DAI) DAI Dai predictions 94.8% 1 $1.000334 0.13% 0.07% $6 716 941 097 DAI 7 days price change
13 TRON (TRX) TRX TRON predictions 58.8% 91 $0.066436 0.34% 2.24% $6 144 991 551 TRX 7 days price change
14 SHIBA INU (SHIB) SHIB SHIBA INU predictions 64.8% 74 $0.000010 -6.10% 2.50% $5 582 275 254 SHIB 7 days price change
15 UNUS SED LEO (LEO) LEO UNUS SED LEO predictions 74% 50 $5.75 -1.64% -0.47% $5 487 883 492 LEO 7 days price change

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2022 Crypto-Rating.com

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.