SATS Price Prediction 2024: 1000SATS Price Analysis

Key Takeaways

• SATS made its debut in mid-December last year but was in a downtrend
• July 5 market the end of its bear cycle
• One price prediction says it may reach $0.01 in 2025.

With Bitcoin’s price increasing by over 12.73% in the seven days to July 22 2024, the crypto market has stabilized,. Additionally, leading BTC-influenced altcoins have followed suit, experiencing significant price surges quickly. With the growing bullish sentiment in the crypto market, the SATS price has risen by approximately 180% from a recent low on July 5.

On July 22, 2024, SATS was worth about $0.000000278.

SATS did not respond to a request for comment.

But what is SATS (1000SATS)? How does SATS work? Let’s see what we can find out and also look at some of the SATS price predictions made as of July 22, 2024.

1000SATS Price Prediction 

Important note: The data used in this section based on the SATS/USDT chart on OKX due to a larger area of historical data. It has an additional three zero decimals compared to what you can see on Coingecko, but the ending price is the same. 

SATS Price Prediction 2024

If SATS started its larger five-wave cycle by the end of 2024, it should either revisit its all-time high made in December last year or slightly surpass it. However, there is also a possibility that the rise would end on a lower-degree five-wave pattern, completing the uptrend at the 0.618 Fibonacci retracement. 

SATS Price Prediction 2025 

If SATS confirms it is in a larger five-wave cycle, its final move is expected in 2025. That will be its new all-time high, the target of which depends on the momentum behind the move and the ground covered by its previous advances. 

SATS Price Prediction 2030

We expect the completion of this bull market cycle in 2025, meaning that a prolonged bear market period should start. These usually last two to three years and lead to a correction of between 80 and 90%. If SATS suffers the same fate, it might only start its next bull phase by 2030. 

SATS Price Analysis

Since its market release in December last year, the price of SATS has climbed to its all-time high of $0.00000093. From there, it began a prolonged bear cycle, forming a descending triangle until it reached a low of $0.00000011 on July 5, 2024.  

As our wave analysis points out, this was probably the end of the complex correction WXYXZ, essentially confirmed by the following rise which brought SATS above its descending resistance. 

On July 18, SATS reached a high of $0.00000031. This could have been the completion of its first bullish advancement in a larger bull phase. If this was the case, we are now seeing the development of its first bull cycle correction, which should establish the first higher low and retest the broken descending resistance for support before it continues moving up. 

This is further hinted by the daily chart RSI, which sits just below the oversold zone at 70% and indicates that the price has either made its high or is near completing the first uptrend. 

Our next likely target would be a $0.0000002 area to complete its second sub-wave. If this plays out and a successful retest is made, SATS could see more upside, leading to a high in the $0.0000006 zone. 

Short-term SATS Price Prediction

SATS price prediction for the next 24 hours is neutral. A symmetrical triangle forming, and its breakout direction will determine which of the following two scenarios is in play. 

Either the price has one higher high before completing the uptrend from July 5, or its July 18 high was the completion of the uptrend. In both cases, a descending move would be expected soon, as we should see the development of its corrective stage to 0.618 Fibonacci retracement level at the $0.00000020 area.

1000SATS Average True Range (ATR): SATS Volatility

The Average True Range (ATR) measures market volatility by averaging the largest of three values: the current high minus the current low, the absolute value of the current high minus the previous close, and the absolute value of the current low minus the previous close over a period, typically 14 days. A rising ATR indicates increasing volatility, while a falling ATR indicates decreasing volatility. Since ATR values can be higher for higher-priced assets, normalize ATR by dividing it by the asset price to compare volatility across different price levels. 

On July 22, 2024, SATS ATR was 0.00000035, suggesting low volatility, although it increased from July 5. 

1000SATS Relative Strength Index (RSI): Is SATS Oversold or Undersold?

The Relative Strength Index (RSI) is a momentum indicator traders use to determine whether an asset is overbought or oversold. Movements above 70 and below 30 show over and undervaluation, respectively. Movements above and below the 50 line also indicate if the trend is bullish or bearish. 

On July 22, 2024, the SATS RSI was at 60, indicating a bullish sentiment close to overbought conditions.

SATS Price Performance Comparisons

How Do We Make a SATS Price Prediction?

Our price prediction for 1000SATS combines technical analysis tools and recognizes the logic in price cycles. We’ve primarily used the Elliott Wave Principle, which describes these price movements in their motive and correction phases. Applied to the SATS-specific time-frames and its price history, we can come up with the targets, although the further we project, the less accurate they are because they depend on what happens in between. 

Best Days and Months to Buy SATS

We looked at SATS price history and found the best/worst – times to buy SATS.

Based on the data analyzed, Monday is the best day to buy 1000SATS (SATS), with the highest average return of 2.37% among the days of the week. Conversely, Tuesday demonstrates the worst performance, with an average of -2.97%, indicating it may not be an optimal day for purchasing.

For the best months, July stands out with a significant return of 52.64%. 

However, it’s important to note that daily data is the most relevant, because 1000SATS started trading in December 2023, limiting monthly and longer-term trend data availability and reliability.

SATS Price History

SATS Market Cap

The market capitalization, or market cap, is the sum of the total number of SATS in circulation multiplied by its price.

On July 22, 2024, SATS’s market cap was $587,072,958, making it the 114th largest crypto by that metric. 

Who Owns the Most SATS (1000SATS)?

As of July 22 2024, one wallet held more than 40% of the SATS supply.

Richest 1000SATS Wallet Addresses

On July 22 2024, the five wallets with the most SATS were

• bc1p8w6zr5e2q60s0r8al4tvmsfer77c0eqc8j55gk8r7hzv39zhs2lqa8p0k6. This wallet held 920,438,838,356,010 SATS or 48.43% of the supply.
• bc1qggf48ykykz996uv5vsp5p9m9zwetzq9run6s64hm6uqfn33nhq0ql9t85q. This wallet held 207,225,851,975,457 SATS or 9.87% of the supply.
• bc1qve2xyhd2mghz02uq20v4k0ctjd0p9dlhud8kss68laad2an7hq3sr70fu3. This wallet held 160,008,191,894,992 SATS or 7.62% of the supply.
• 16G1xYBbiNG78LSuZdMqp6tux5xvVp9Wxh. This wallet, listed as gate.io, held 23,173,059,695,524 SATS or 1.1% of the supply.
• 1HBRorLqiaub6NkBw8LTjeKJ3aghy4P3GN. This wallet held 19,081,276,853,248 SATS or 0.91% of the supply.

SATS Supply and Distribution

How SATS Works

The SATS token metadata is recorded on the Bitcoin blockchain in JSON format. This includes such vital details as protocol type, operations, token symbol, supply limit, minting limit, and decimal places.

Minting involves generating tokens through JSON inscriptions, allocated to the creator’s address upon network confirmation.

Transferring SATS tokens requires a ‘transfer’ inscription specifying the amount, followed by a standard Bitcoin transaction moving tokens from one address to another.

While SATS BRC-20 tokens introduce innovation to Bitcoin, they also raise concerns about transaction fees and the divergence from Bitcoin’s original purpose. Despite debates, they offer new functionalities but face challenges in early development.

Is SATS a Good Investment?

It is hard to say. The token’s price shot up after its launch, but there may already be signs of a downturn. Also, the lack of any proper technical documentation, or whitepaper, could have a negative impact.

On the other hand, there are good reasons for SATS’ recent movements, with new developments getting investors attention.

As always with crypto, you will need to make sure you do your own research before deciding whether or not to invest in 1000SATS.

Will SATS go up or down?

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

Before you decide whether or not to invest in SATS, you will have to do your own research, not only on 1000SATS, but on other coins and tokens such as Ordinals (ORDI). Either way, you will also need to make sure that you never invest more money than you can afford to lose.

FAQs

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.