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Hedera Price Prediction 2024: What Will New Board Members Mean for HBAR?

Last Updated February 22, 2024 10:08 AM
Peter Henn
Last Updated February 22, 2024 10:08 AM

Key Takeaways

  • Hedera recorded a notable surge over the last few days.
  • What’s next for HBAR?
  • One price prediction says it may reach $0.4025 next year.

Hedera (HBAR) has seen a parabolic surge in recent days, with its price climbing for five consecutive days to reach its highest point since May 2022.

Among key factors underpinning HBAR’s recent strong performance, there are clear indications of progress within its ecosystem as it narrows the gap with other leading blockchains.

The platform welcomed new members to its board recently, with Cadbury’s owners Mondelez joining  the likes of Hyundai on Hedera’s Stewardship Council

Hedera did not immediately respond to a request for comment.

But what is Hedera (HBAR)? How does Hedera work? Let’s see what we can find out, and also take a look at some of the Hedera Price Predictions that were being made as of February 22, 2024.

Hedera Coin Price Prediction

With that all said and done, let’s examine some of the Hedera price predictions being made on February 22, 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 $0.23 $0.27 $0.77
Prediction #2 $0.2965 $0.4025 $0.9321
Prediction #3 $0.1759 $0.2644 $1.71

First, CoinCodex  had a short-term Hedera price prediction that saw the coin drop to $0.09706 by February 27 before falling further to $0.084095 by March 23. The site’s technical analysis was bullish, with 27 indicators sending encouraging signals and just three making bearish ones.

Hedera Forecast for 2024

In terms of other Hedera price predictions for 2024, DigitalCoinPrice  said it would reach $0.23. Bitnation  said HBAR would be worth $0.2965. PricePrediction.net  said the coin would get to $0.1759 this year. 

Hedera Forecast for 2025

Bitnation thinks it will reach $0.4025 next year and DigitalCoinPrice’s Hedera price prediction for 2025 saw it trade at about $0.23 that year. PricePrediction.net was more cautious, saying HBAR would trade at $0.2644 in 2025.

Hedera Forecast for 2030

Moving onto a more long-term Hedera price prediction for 2030, PricePrediction.net thought the coin would hit $1.71. DigitalCoinPrice thought it would get to $0.9321. Bitnation had an HBAR price prediction that said it would reach $0.4539 at the start of the next decade.

Google Gemini AI Price Prediction for Hedera (as of February 22)

Google’s Gemini AI platform gave the following price prediction for Hedera on February 22. Please remember that the exact price prediction of an asset or cryptocurrency in the future is nearly impossible to achieve. Additionally, artificial intelligent price predictions are predicated on past performances and are in no way entirely accurate.

Short Term (Next 3 months)

  • Expected price: $0.086598
  • Factors to Consider:
    • Overall cryptocurrency market sentiment: If the broader cryptocurrency market experiences a bullish run, Hedera could also see its price rise. Conversely, a bearish market could lead to a price decline.
    • Developments on the Hedera network: Any major news or announcements from the Hedera team, such as new partnerships or technological advancements, could positively impact the price.
    • Adoption and usage of Hedera: Increased adoption and usage of the Hedera network for its fast, secure, and low-cost transactions could drive up demand for HBAR tokens, potentially leading to a price increase.
    • Regulatory environment: Changes in regulations related to cryptocurrencies could have an impact on the price of Hedera, depending on the nature of the regulations.

Medium Term (Next 6 months)

  • Expected price: $0.098
  • Factors to Consider:
    • Overall cryptocurrency market trends: The price of HBAR is likely to be influenced by the overall performance of the cryptocurrency market.
    • Developments on the Hedera Hashgraph network: Any major developments or partnerships on the network could positively impact the price.
    • Regulatory environment: Changes in government regulations could impact the adoption and use of cryptocurrencies, including HBAR.
    • Investor sentiment: The overall sentiment of investors towards HBAR will play a role in its price.

Long Term (Next 5 years)

  • Expected price: $0.067
  • Factors to Consider:
    • Adoption and usage: Increased adoption of the Hedera network by businesses and developers could drive up demand for HBAR tokens, leading to a price increase. Conversely, if adoption remains low, the price could stagnate or even decline.
    • Regulation: Regulatory developments in the cryptocurrency space could impact the price of HBAR, depending on the nature of the regulations.
    • Overall market sentiment: The broader cryptocurrency market sentiment can also affect the price of HBAR. If the market is bullish, HBAR is likely to rise in price. Conversely, if the market is bearish, the price could fall.
    • Technological advancements: Successful development and implementation of new features and functionalities on the Hedera network could increase its attractiveness and drive up the price.

HBAR Price History

Now, let’s examine some of the Hedera 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 Hedera price prediction.

Hedera first came onto the open market in September 2019. It spent most of the first year or so of its existence operating between $0.01 and $0.05. The market shot up in early 2021, and so did HBAR. The coin reached a periodic high of $0.4495 on March 15. It dropped over the summer, reaching a low of $0.1599 on July 21.

The market recovered over the following months. HBAR thrived in the upturn and reached an all-time high of $0.5701 on September 16. The crypto’s price fell over the rest of the year, and it closed 2021 at $0.2905.

Things did not go so well in 2022. A series of market crashes devastated HBAR. The coin traded at $0.03643 on 31 December. This meant it lost more than 85% of its value over the course of the year.

Hedera in 2023 and 2024

Early 2023 was better for HBAR. The coin hit a high of $0.09839 on February 12. It then fell down. In June, the United States Securities and Exchange Commission (SEC) sued the Binance and Coinbase exchanges. This had an impact on the market, with Crypto.com suspending its US institutional arm on June 10. This news saw HBAR sink to a low of $0.04109.

There has been a recovery since then. On July 13, a court ruled that Ripple (XRP) was not a security if it was sold on exchanges. The market shot up as a result, and HBAR reached $0.05424 the following day.

Hedera price history
Hedera price in 2023 and 2024 | Credit: CoinMarketCap

It then dropped slightly, but stayed above $0.05. On August 3, 2023, it was worth about $0.5345. It then ended 2023 at $0.08592, moved sideways in January and climbed to $0.1056 on February 22, 2024.

At that time, there were 33.68 billion HBAR in circulation, out of a total supply of 50 billion. This gave the coin a market cap of around $3.56 billion, making it the 30th largest crypto by that metric. 

Is Hedera a Good Investment?

It is difficult to tell. Hedera has performed well lately, but we don’t know how sustainable that will be. 

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

Will Hedera go up or down?

No one can really tell right now. While the Hedera 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 Hedera?

Before you decide whether or not to invest in Hedera, you will have to do your own research, not only on HBAR, but on other, related, coins and tokens such as Ethereum (ETH) or Cardano (ADA). Either way, you will also need to make sure that you never invest more money than you can afford to lose.

Hedera (HBAR) Explained

Although blockchain technology is useful, it is not without its drawbacks. For instance, blockchains can get much slower when they are busy, meaning people spend more time and more money than they would like to. 

Hedera  is a blockchain that aims to be faster, cheaper and more efficient than its rivals. It was founded in 2018 by computer scientists Leemon Baird and Mance Harmon.

Every blockchain needs a coin, and Hedera has the HBAR crypto. HBAR supports the Hedera blockchain. 

How Hedera Works

Hedera uses a type of technology called Hashgraph. Hashgraph uses something called a gossip protocol. This means that the computers, or nodes, on the network are able to communicate with each other easily. In turn, this means that the system is, at least in theory, quicker. Hedera says it can process 10,000 transactions per second. 

Hedera uses a Proof-of-Stake (PoS) consensus mechanism. This means that Hedera selects people to verify transactions and add blocks to the blockchain based on how much HBAR they hold. 

HBAR pays for fees on the network. Holders can stake it in return for rewards and can also vote on changes to the system. People can also buy, sell, and trade HBAR on exchanges.

Hedera Attention Tracker

Hedera Google search volume
Hedera Google search volume | Credit: Google

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

FAQs 

How many Hedera are there?

As of February 22, 2024, there were 33.68 billion HBAR in circulation, out of a total supply of 50 billion.

Will Hedera reach $1?

It could do, but not for some time yet. PricePrediction.net said it would get to $1 in 2031. DigitalCoinPrice thought it would reach that level the following year.

Keep in mind that HBAR has never traded above the dollar. Its all-time high, which it reached in September 2023, is $0.5701.

What is Hedera used for?

The HBAR coin supports the Hedera blockchain. 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.

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