摘要：HederaHashgraph,commonlyknownasHBAR,hasgainedinvestors’attentionrecentlyUnliketraditionalblockchains,Hederausesauniqueapproachcalledhashgraph...
Hedera Hashgraph, commonly known as HBAR, has gained investors’ attention recently. Unlike traditional blockchains, Hedera uses a unique approach called hashgraph. This technology is designed to overcome some of the limitations of older blockchain systems, like Bitcoin or Ethereum. The Hedera Hashgraph Foundation represents a solid development in the Internet of Things (IoT) sector. Designed with a focus on overcoming scalability issues, the Hedera Hashgraph network aims to enhance efficiency and empowerment in daily life.
This network addresses key challenges faced by traditional blockchain technology, such as limited data access and high operational costs. Hedera Hashgraph stands out by offering a stable digital currency system that is not prone to inflation or sluggish performance. Moreover, it operates with minimal bandwidth usage.
Hedera’s use of distributed ledger technology (DLT) marks a significant advancement over conventional blockchain solutions. It provides comprehensive solutions to problems that have been unresolved in the blockchain space. The foundation of the Hedera ecosystem, and its native token, HBAR, is rooted in this innovative DLT approach. In terms of governance, Hedera stands out too. It is governed by a council of diverse organizations, which includes big names from various industries. This council ensures that the network is not controlled by a single entity, promoting fairness and stability.
Over the last few weeks, the HBAR token witnessed a robust comeback in its trend as it broke above multiple resistance lines, surging to new monthly highs. However, as the price faces bearish pressure, there are concerns of a decline. In this article, we’ll explore HBAR price prediction with current market sentiment and technical analysis.
HBAR: A Quick Introduction
HBAR, the cryptocurrency of Hedera Hashgraph, was launched in 2018 by co-founders Dr. Leemon Baird, the former chief scientist and CEO of Mance Harmon. This innovative crypto concept stands out for its potential speed advantages.
The core technology behind HBAR, as explained on the company’s website, is highly efficient. It boasts a capability of processing over 10,000 transactions per second, due to its unique ‘gossip about gossip’ protocol and virtual voting, ensuring swift and irreversible transactions that are publicly recorded.
Hedera’s whitepaper highlights its governance structure, which is overseen by a diverse council of global enterprises from various industries and locations. This governance aims to create a secure and trustworthy online environment free from the control of any centralized authority. The approach also prevents network forks, maintains the integrity of the code, and ensures transparency by allowing public access to the software code.
Decentralized governance is a key aspect of the Hedera network, which is managed by the Hedera Governing Council. This council consists of members with limited terms, rotating in to ensure equal voting rights on crucial platform decisions.
Essential to any crypto network is its native token, and in Hedera’s case, it’s the aptly named Hedera cryptocurrency, or HBAR. Holders of HBAR can execute transactions within the Hedera network, leveraging the unique benefits and governance structure of this advanced blockchain alternative.
Hedera’s HBAR: Working Module
HBAR serves dual purposes within its blockchain system. Firstly, it acts as a medium to facilitate various services such as conducting transactions, storing files, and running smart contracts. Secondly, HBAR plays a crucial role in strengthening the security of the blockchain network. This is achieved through a process called staking, where HBAR holders commit their tokens to support and uphold the stability and integrity of the blockchain platform.
1/ We are excited to announce the availability of #SmartContract Verification on #Hedera, bringing increased trust and transparency through the enablement of smart contract evaluation - ensuring alignment between deployed bytecode and its source files. https://t.co/lzAURXZkA7
— Hedera (@hedera) November 21, 2023
In the Hedera network, decentralized consensus places the power of validation in the hands of its users. This network operates on a unique ledger system, utilizing a directed acyclic graph to implement an asynchronous Byzantine Fault-Tolerant (aBFT) consensus algorithm. Within this framework, the authorized ledger is exclusively Hedera Hashgraph.
Contrary to some blockchain models, HBAR does not facilitate smart contracts. Instead, it employs a Byzantine Fault-Tolerant (BFT) consensus mechanism. This system incorporates various nodes, including Validator nodes, Witness nodes, Accelerator nodes, and others. These nodes collectively contribute to the processes of transaction handling, validation, and authentication at different stages.
The HBAR blockchain offers a robust and flexible platform, enabling the trading of other virtual tokens. It also supports a range of payment methods, including credit and debit cards, cryptocurrencies, and mobile app transactions. This versatility positions the HBAR foundation as an ideal environment for the development of decentralized applications (dApps) on a global scale. The platform’s features, such as controlled mutability and time-based file expiry, further enhance its appeal for dApp development.
Uniqueness Of HBAR
Hedera Hashgraph stands out with its capacity to process over 10,000 transactions per second, significantly surpassing the transaction capabilities of established blockchains like Bitcoin and Ethereum. While transactions on Bitcoin and Ethereum can take anywhere from 10 to 60 minutes to confirm, Hedera Hashgraph achieves this in just 3-5 seconds.
In terms of transaction costs, Hedera Hashgraph is remarkably economical compared to many blockchain networks. The average fee for a transaction on Hedera is just $0.0001, whereas a single transaction on the Bitcoin blockchain can cost as much as $22.57.
Hedera Hashgraph also boasts several key features that make it an attractive blockchain platform for its users, including:
Smart contract functionality, enabling developers to create sophisticated decentralized applications (DApps).
The ability to mint both fungible and non-fungible tokens (NFTs) for use in DApps was developed on the Hedera Hashgraph platform.
Implementation of a Proof of Stake (PoS) consensus algorithm, which not only secures the network but also offers HBAR holders the opportunity to earn passive income through staking their tokens.
A decentralized file storage system that incorporates features such as controlled mutability, time-based file expiry, and proof-of-deletion, enhancing the platform’s functionality and user experience.
HBAR Price Prediction: Price History
Understanding HBAR’s historical price trends can provide valuable insights for both formulating and evaluating future Hedera price forecasts, although it’s important to remember that past performance is not a reliable indicator of future results.
From its inception until the beginning of 2021, the price of Hedera’s coin fluctuated between $0.01 and $0.08. In 2021, HBAR’s value saw a notable increase, starting the year at $0.03181. This growth was part of a broader upswing in the cryptocurrency market, culminating in a peak value of $0.4495 on March 15. However, following this high, the price of HBAR started to decline in April, mirroring a downturn in the broader crypto markets. It eventually reached a low point of $0.1559 on July 21, 2021.
HBAR experienced significant volatility in its value over a period extending from August 2021 to March 2023. Initially, the interest in NFTs contributed to its growth, pushing its value to $0.30 in early September 2021 and then to an all-time high of $0.5701 on September 16, 2021. This surge coincided with the Hedera Governing Council’s decision to allocate 20% of HBAR’s supply (10.7 billion coins valued at $5bn) for the development of the Hedera ecosystem. The HBAR Foundation, led by Shayne Higdon, was established with an initial allocation of 5.35 billion HBAR coins (worth about $2.5bn).
However, by 21 September, HBAR’s value dropped to $0.2918, then rose again to $0.4768 on November 12, 2021, before ending the year at $0.2905. It reached $0.3396 on January 5, 2022, but closed at $0.2883 and struggled to surpass $0.30 afterward. The price further declined to $0.1927 on April 11 and fell below $0.10 in May due to market turmoil caused by the UST stablecoin depegging and the collapse of LUNA, hitting a low of $0.07503 on May 12.
Despite some recovery, the bear market was confirmed with the Celsius Network’s withdrawal cancellation, leading HBAR to a low of $0.05867 on June 18. The anticipation of its listing on Coinbase saw a brief price increase to $0.07393 on September 12, but it fell again to $0.05597 by October 3. After Coinbase listed HBAR on October 13, its value reached $0.06677, slightly down from the previous day’s high.
HBAR remained around $0.06 until the collapse of the FTX exchange in late 2022, which resulted in a year-end price of $0.03643, marking an annual loss of over 87%. The new year brought a mild recovery, with HBAR trading at $0.09839 on February 12, its highest since May, but it dropped to $0.05458 following the collapse of Silvergate Bank.
However, in recent weeks, HBAR price witnessed renewed buying interest as it experienced increasing buying pressure due to Bitcoin’s surge toward $38K.
HBAR Price: Technical Analysis
Recently, the HBAR coin price experienced intense bullish sentiment, which triggered buyers near the immediate resistance levels. The price has made a breakout momentum above $0.069 as the BTC price touched a high of $38K. After surging above the $0.052-mark, HBAR’s price sparked an intense buying momentum and surged exponentially. The price has been facing intense buying pressure recently, and it managed to break above multiple resistance levels. However, bears continue to increase their domination near the immediate resistance level. A thorough technical analysis of the HBAR token price reveals bullish indicators, which may soon send the price to new highs.
According to Coinmarketcap, the HBAR token price is currently trading at $0.061, reflecting an increase of 1.55% in the last 24 hours. Our technical evaluation of HBAR price indicates that the current bullish momentum may soon fade as bears are attempting to reverse the trend from the upcoming resistance at $0.069; however, bulls continue to increase their accumulation and hence are creating a surge in buying pressure near support levels. Examining the daily price chart, HBAR coin price has found support near the $0.055 level, from which the price gained bullish momentum and was attempting to break above multiple Fib channels. As Hedera’s price continues to trade above EMA trend lines, buyers are gaining confidence to open further long positions and send the price to test its upcoming resistance. The Balance of Power (BoP) indicator is currently trading in a negative region zone at 0.25 as sellers are increasing their domination on the price chart.
To thoroughly analyze the price of an HBAR coin, it is crucial to take a look at the RSI-14 indicator. The RSI indicator recently experienced a decline as the HBAR price failed to hold buyers’ demand near resistance channels. The trend line is currently hovering below the midline as it trades at level 44, hinting that further downward correction is on the horizon. It is anticipated that the HBAR price will soon attempt to break above its 23.6% Fibonacci level to achieve its short-term bullish goals of around $0.067. If bears fail to plunge below the current 0.038 Fibonacci region, an upward trend might be on the horizon.
As the SMA-14 continues its swing by trading at 43, it trades slightly below the RSI line, potentially holding concerns about the coin’s downward movement on the price chart. If HBAR’s price makes a bullish reversal, it can pave the way to resistance at $0.067. A breakout above will drive the coin’s price toward the upper limit of the Bollinger band at $0.078 and then to $0.0993.
Conversely, if HBAR fails to hold above the critical support region of $0.056, a sudden collapse may occur, resulting in further price declines and causing the coin’s price to trade near the Bollinger Band’s lower limit of $0.05. If the price fails to continue a trade above, it may trigger a more significant bearish downtrend to $0.041.
HBAR Price Prediction By Coinstages
Hedera Price Prediction 2023
The price of Hedera is predicted to reach a minimum level of $0.0666 in 2023. It can attain a maximum level of $0.0710, with the average price hovering around $0.0691 throughout the year.
