Home / Crypto Analysis / Price Predictions / Beam Price Prediction 2024: After Breaking Ground in 2023, What’s Next for BEAM?

Beam Price Prediction 2024: After Breaking Ground in 2023, What’s Next for BEAM?

Last Updated January 31, 2024 4:41 PM
Peter Henn
Last Updated January 31, 2024 4:41 PM

Key Takeaways

  • BEAM has fallen since reaching a record high in December 2023. 
  • The BEAM token is still much higher than its October launch price. 
  • Can BEAM return to winning ways?
  • One Beam price prediction says the token can reach $0.1913 in 2025. 

Since coming out in late October, the price of the BEAM token has more than doubled. The Beam game development platform has gained the attention of investors and the token reached an all-time high in December. Since then, though, it has dropped somewhat.

Nevertheless, only three months after it came out, it is in the top 100 cryptos by market capitalization. 

Beam did not immediately respond to a request for comment.

On January 31 2024, BEAM was worth about $0.018. 

But what is Beam (BEAM)? How does Beam work? Let’s see what we can find out, and also take a look at some of the Beam Price Predictions that were being made as of January 31 2024.

Beam Price Prediction

Let’s examine some of the Beam price predictions being made on January 31 2024. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate. Additionally, please remember that many long-term crypto price predictions are generated using algorithms, which means they can change at any time.

2024 2025 2030
Prediction #1 $0.0295 $0.044 $0.13
Prediction #2 $0.044 $0.06169 $0.1498
Prediction #3 $0.1342 $0.1913 $1.02

First, CoinCodex  made a short-term Beam price prediction for 2023 that said the crypto could fall to $0.01758 by February 5 before going on to trade at $0.01848 on March 1. The site’s technical analysis was bearish, with 10 indicators sending discouraging signals and seven making bullish ones.

Beam Price Prediction for 2024

DigitalCoinPrice  said that Beam would reach $0.0295 this year, while Bitnation  said it could get to $0.044. PricePrediction.net  said it would trade at $0.1342 in 2024.

Beam Price Prediction for 2025

Moving on, DigitalCoinPrice argued BEAM would trade at $0.044 in 2025 while Bitnation thought it would reach $0.06169. PricePrediction.net said it would be worth $0.1913 next year.

Beam Price Prediction for 2030

Looking at a more long-term Beam price prediction, DigitalCoinPrice said it would reach $0.13 in 2030. Bitnation suggested it could get to $0.1498. PricePrediction.net’s BEAM price forecast said it would be worth $1.02 at the start of the next decade. 

Google BardAI Price Prediction for Beam (as of January 31)

Google’s BardAI platform gave the following price prediction for Beam on January 31. Please remember that price predictions are very often wrong, and that artificial intelligence should not be trusted. 

Short-term price prediction (2023):

  • Average price: $0.010362
  • High price: $0.011428
  • Low price: $0.009296

Reasons for short-term price prediction:

  • The BEAM cryptocurrency has been trading in a range between $0.009 and $0.011 for the past few months.
  • The current market cap of BEAM is relatively low, which could allow for a significant price increase in the short term.
  • The BEAM team is continuing to develop the project, which could attract new investors and users.

Short Term (Next 1-3 Months):

  • Prediction: Neutral to slight decrease, with a possible range of $0.015 – $0.02.
  • Reasons:
    • Technical indicators currently show neutrality, suggesting continued sideways movement.
    • The recent market recovery may be slowing down, leading to profit-taking and price dips.
    • News and developments within the Beam ecosystem could have a moderate impact on price in either direction.

Medium Term (Next 3-12 Months):

  • Prediction: Potential for moderate increase, with a possible range of $0.02 – $0.03.
  • Reasons:
    • Increased awareness and adoption of privacy-focused cryptocurrencies could benefit Beam.
    • The growth of DeFi applications built on Beam could drive demand for the token.
    • Successful partnerships and integrations with other blockchain projects could boost value.

Long Term (1-5 Years):

  • Prediction: More cautious, with a range of $0.01 – $0.05.
  • Reasons:
    • Long-term price trends depend heavily on unforeseen events and technological advancements.
    • Competition within the privacy coin space will continue, impacting individual market share.
    • Regulatory landscape around cryptocurrencies remains uncertain, posing potential risks.

Additional Factors to Consider:

  • Beam’s unique privacy features and focus on fungibility could attract users seeking greater financial anonymity.
  • The scalability and efficiency of the Beam network will be crucial for its long-term success.
  • Adoption by businesses and financial institutions could significantly boost BEAM’s value.

Limitations:

  • Since Beam is a relatively new token (launched in October 2023), historical data for analysis is limited.
  • External events and unforeseen developments can significantly impact any short-term predictions.

It added: “Remember, these are just potential scenarios, and the actual price of BEAM may deviate significantly from these predictions. Always conduct your own research and consult with a financial advisor before making any investment decisions.”

Recent Updates from Beam

The main news around BEAM in recent weeks has been its price performance. However, its Total Value Locked has plummeted recently, falling from more than $5 million on January 21 to

BEAM Price History

Beam Price History
BEAM reached an all-time high in December 2023 | Credit: CoinMarketCap

Now, let’s examine some of the, admittedly short, Beam price history . While we should never take past performance as an indicator of future results, knowing what the coin has achieved can provide us with some very useful context if we want to make or interpret a Beam price prediction.

BEAM was launched in October 2023 and, on October 27, it was worth $0.004923. The token then dipped to close the month at $0.004328. November saw the new token gain traction, breaking past $0.01 on November 16 before falling to $0.007609 on November 18. It then made a recovery, breaking past $0.01 on November 26 before dropping to close the month at $0.009521. On December 1, it rose above the cent again, hovering around that level for a few days before reaching a in the early hours of December 4. 

There was further upward movement and it reached an all-time high of $0.02728 on December 14. After that, it fell to close the year at $0.01713.

There were ups and downs in January and, on January 31 2024, Beam was worth about $0.178

At that time, there were 51 billion BEAM in circulation out of a total supply of 62.9 billion. This gave the token a market cap of about $532 million, making it the 93rd-largest crypto by that metric. 

Beam Price Analysis

Beam Price Analysis
Although BEAM looks set to go down, that might not be a bad thing.

After it came out in October, BEAM rose nearly 750% to reach its all-time high on December 14. This rise was the first uptrend in a BEAM’s bullish phase and a correction started when it ended. 

This correction saw the price move largely sidewise, with a low of $0.16. There could be another low ahead, with BEAM potentially falling to $0.012.

The good news is that, once it has done that, a new uptrend could begin, taking BEAM to a new all-time high.

Is Beam a Good Investment?

It is, perhaps, a little too early to tell. While BEAM has performed well since coming out, the platform is still in its early stages. We don’t know whether it can continue to rise, or whether its recent all-time high represents it being overpriced. 

As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in BEAM.

Will Beam go up or down?

No one can really tell right now. While the Beam crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up. 

Should I invest in Beam?

Before you decide whether or not to invest in Beam, you will have to do your own research, not only on BEAM, but on other, related, coins and tokens such as GALA. Either way, you will also need to make sure that you never invest more money than you can afford to lose.

Who are the Founders of Beam?

Anonymous members of the Merit Circle DAO (Decentralized Autonomous Organization) founded Beam in 2023.

Fact Box

Supply Figures
Total supply 62,955,102,600
Circulating supply (as of January 31 2024) 51,029,339,094 (81.05% of total supply)

From the Whitepaper

In its technical documentation, or whitepaper , Beam says it aims to make creating games on the blockchain easier.

It says: “Beam is a sovereign network focused on gaming brought to you by the Merit Circle DAO. Powered by the established Avalanche network, Beam operates independently to cater towards gamers and game developers.”

Beam (BEAM) Explained

The BEAM cryptocurrency supports the Beam network. The platform is designed to be a place where developers can create online games. 

Based on the Avalanche (AVAX) blockchain, it should not be confused with the Beam blockchain, a network created to allow blockchain users greater privacy. 

However, while Beam is based on Avalanche, BEAM is based on Ethereum (ETH). 

How Beam Works

The Beam  network allows people to transfer their Ethereum-based applications onto the system.  In order to build on Beam, developers need to gain the approval of four people from a panel of eight members of the Merit Circle DAO. 

The BEAM token pays for transactions on the platform. People can also buy, sell, and trade it on exchanges. 

Because BEAM is based on Ethereum, it is a token, not a coin. You might see references to such things as a BEAM coin price prediction, but these are wrong.

Beam Attention Tracker

Beam Crypto Google Search Volume
Beam Crypto Google search volume | Credit: Google

Here is a chart for the Beam crypto Google search volume for the past 90 days. This represents how many times the term “Beam crypto” has been Googled over the previous 90 days.

FAQs 

How many BEAM are there?

On January 31 2024, there were 51 billion BEAM in circulation out of a total supply of 62.9 billion.

Will BEAM reach $1?

It might do, but not for some time. PricePrediction.net says it can get there in 2030.

What is BEAM used for?

BEAM pays for transactions on the Beam platform. People can also buy, sell, and trade it on exchanges.

 

Disclaimer 

Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

 

Was this Article helpful? Yes No