Ordinals Price Prediction 2024: Can ORDI Thrive On Growing Bitcoin Interest?

Key Takeaways

• ORDI reached an all-time high on January 2.
• Bitcoin Ordinals has fallen over the last few weeks, but there is still interest in inscriptions.
• What’s next for ORDI?
• One ORDI price prediction says that the token can reach $153.88 next year. 

ORDIs – Bitcoin Ordinals – have been on the move lately. Interest in what could be described as Bitcoin NFTs have been growing, and even the likes of Elon Musk have, albeit unwittingly, endorsed the tokens. 

However, the success of Ordinals has had an unwanted impact on BTC traders. Bitcoin transaction fees have risen as a result of the renewed interest in ORDI. 

The recent launch of the Bioniq Ordinals market place has also given the token a boost, with it reaching an all-time high on January 2 2024.

Ordi did not immediately respond to a request for comment.

On February 1 2024, ORDI was worth about $60.05. 

But what is ORDI? How does Ordi work? Let’s see what we can find out, and also take a look at some of the Ordi Price Predictions that were being made as of February 1 2024.

Ordi Price Prediction

Let’s examine some of the Ordi price predictions made on November 8, 2023. 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.

First, CoinCodex  had a short-term ORDI price prediction that said the token would trade at $60.26 on February 6 before reaching  $63.23 by March 2. The site’s technical analysis was neutral, with 15 indicators sending bullish signals and seven making bearish ones. 

Ordi Price Prediction for 2024

DigitalCoinPrice  said that ORDI would reach $126.70 this year. CrowdWisdom  said it would get to $87.30 then. PricePrediction.net  thought ORDI would trade at $16.57 in 2024.

Ordi Price Prediction for 2025

Moving on, DigitalCoinPrice said ORDI would trade at $153.88 in 2025. CrowdWisdom thought it would be worth $95.10. PricePrediction.net said the token would be worth $35.31 in two years.

Ordi Price Prediction for 2030

Looking at a more long-term ORDI price prediction, DigitalCoinPrice thought the token would be worth $437.26 in 2030. CrowdWisdom said it would trade at $126 that year. PricePrediction.net’s ORDI price forecast said it would reach $144.19 at the start of the next decade. 

Google BardAI Price Prediction for Ordi (as of February 1)

Google’s BardAI platform gave the following price prediction for Ordinals on February 1. Please remember that the exact price prediction of an asset or cryptocurrency in the future is nearly impossible to to achieve. Additionally, artificial intelligent price predictions are predicated on past performances and are in no way entirely accurate.

Short-Term (1-3 months):

• Neutral to slightly bearish:
  • Price could dip down to $53 (5% decrease) due to:
    • Recent price surge: ORDI has undergone a significant jump recently, so some consolidation or pullback is possible.
    • Overall market sentiment: Broader crypto market trends can heavily influence ORDI price.
    • Limited use cases: While Ordinals offers a novel approach to inscribing data on Bitcoin, its real-world application remains unclear.
  • Potential upsides are limited to a moderate rebound around $68 (+15%) if:
    • Positive news or developments drive increased interest and adoption of Ordinals.
    • Technical indicators or on-chain analysis suggest bullish momentum.

Medium-Term (6-12 months):

• Moderately bullish:
  • Price could reach $90 (+50%) fueled by:
    • Growth of the Bitcoin Ordinals ecosystem with more users and projects utilizing the platform.
    • Successful integration with Bitcoin wallets and applications, improving user experience.
    • Increased awareness and understanding of Ordinals’ potential benefits and use cases.
  • Downside risks remain with potential security vulnerabilities or lack of significant adoption leading to a price correction.

Long-Term (3-5 years):

• Highly speculative:
  • Price could potentially reach $300-500 (+400-700%) if:
    • Ordinals becomes a widely adopted standard for inscribing data on Bitcoin, unlocking diverse applications.
    • Integration with major DeFi or NFT platforms expands functionality and user base.
    • Regulatory clarity and wider acceptance of Bitcoin-based NFT projects drive demand.
  • Long-term success depends heavily on addressing technical challenges, securing partnerships, and overcoming potential regulatory hurdles.

Important Disclaimers:

• These are just predictions based on current market trends and potential future developments. The actual price of ORDI can fluctuate significantly and be influenced by unforeseen events.
• Cryptocurrencies are inherently volatile and risky investments. Never invest more than you can afford to lose.
• Conduct your own research and due diligence before making any investment decisions.

It added: “Remember, the future is uncertain, and these predictions should not be considered financial advice. It’s crucial to understand the high level of speculation involved in long-term price predictions for emerging projects like Ordinals.”

Recent Updates from Ordi

In January, Sotheby’s auction house sold more than $1 million worth of Ordinal inscriptions. Also that month, former US President Donald Trump NFT collection announced it would offer buyers Trump-related Ordinals.

On December 1, the Bioniq  marketplace launched, giving people more opportunities to buy, sell, and trade Ordinals. Interestingly, the platform, which had been in the pipeline since February, is based on the Internet Computer (ICP) platform, rather than Bitcoin.

ORDI Price History

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

ORDI first came onto the open market in May. On May 8, it was worth $29.16, It soon fell, though and by May 24 it was below $10. 

The following month saw further losses as the market struggled in the wake of the United States Securities and Exchange Commission (SEC) suing the Binance and Coinbase exchanges. ORDI dropped to $4.66 on June 12. There was a recovery, and it spent much of July between around $6.20 and $7.90.

It dropped at the beginning of the next month. On September 11, it reached an all-time low of $2.86. There was some recovery and it broke past $5 on October 24. With the crypto market, and Bitcoin in particular, having a positive month in November, it was no surprise that ORDI shot up then. On December 6, it reached a high of $68.77 before sliding back down. 

There was another recovery later on in the month, and the token closed the year at $78.27. The rise continued in the new year and ORDI reached an all-time high of $90.96 on January 2. It then fell somewhat over the next month and, on February 1 2024 it was worth about $60.05.

At that time, there were 21 million ORDI in circulation, representing the total supply. This gave it a market cap of about $1.2 billion, making it the 54th-largest crypto by that metric. 

Ordi Price Analysis

After ORDI came out, its price started consolidating. As it established a support level, ORDI began an uptrend in late 2023. 

Although the price peaked on January 2, it then fell by 46% to its January low. Since then, there has been an upward movement, and two things could happen now. 

We saw the development of the five-wave pattern typical for these impulsive moves, with the price reaching $92 on January 2, increasing by nearly 3000%. But this was followed by a deep retracement of 46%, as it dipped below $50 on January 24. 

Either the price will continue to rise and make a new all-time high, or we will see one more lower low before it can continue its upward trajectory. In the first case, it must stay above $54 before the next high. In the second case, it will go below $49 at first, it will drop to $37 before it can move up again.

Is Ordi a Good Investment?

It is hard to say. We do not know yet if the resurgence of Ordinals will be sustainable, or whether it is a flash in the pan. With its better-known equivalent, NFTs, in a downturn since last year, we will have to see if Ordinals can get widespread attention. 

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

Will Ordi go up or down?

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

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

Who is the Founder of Ordi?

Former Google employee Casey Rodamor  founded Ordinals in 2023.

Who owns the most Ordi tokens?

On February 1 2024, one wallet held more than 45% of the supply of ORDI?

Richest ORDI Wallet Addresses

As of February 1 2024, the five wallets with the most ORDI were

• bc1qhuv3dhpnm0wktasd3v0kt6e4aqfqsd0uhfdu7d. This wallet held 9,488,286 ORDI, or 45.18% of the supply.
• bc1qggf48ykykz996uv5vsp5p9m9zwetzq9run6s64hm6uqfn33nhq0ql9t85q. This wallet held 1,649,376 ORDI, or 7.85% of the supply.
• bc1qqd72vtqlw0nugqmzrx398x8gj03z8aqr79aexrncezqaw74dtu4qxjydq3. This wallet held 989,781 ORDI, or 4.71% of the supply.
• bc1qz7rw2atrt3e8jrywva2y8xmka8lewalx8qazlxaq8xkn2xke0yyqvpel3e. This wallet held 650,112 ORDI, or 3.1% of the supply.
• bc1q8u9thhxvkjw9t8tf0sj6k0vwmk7jstc9z0f3at0r5xunxxp9f0pqmetg7x. This wallet held 612,586 ORDI, or 2.92% of the supply.

Fact Box

From the Whitepaper

In its technical documentation, or whitepaper , Ordinals says it is able to work “right now”. 

It says: “Ordinals are a numbering scheme for satoshis that allows tracking and transferring individual sats. These numbers are called ordinal numbers. Satoshis are numbered in the order in which they’re mined, and transferred from transaction inputs to transaction outputs first-in-first-out. Both the numbering scheme and the transfer scheme rely on order, the numbering scheme on the order in which satoshis are mined, and the transfer scheme on the order of transaction inputs and outputs. Thus the name, ordinals.”

Ordi Explained

To put it simply, Ordinals  are Bitcoin’s equivalent to non-fungible tokens (NFTs). The idea is that people can make inscriptions of data on Satoshis, the smallest denomination of BTC. There are 100 million Satoshis in a Bitcoin. 

The ORDI token, which is based on the Bitcoin blockchain, represents Ordinals.  

How Ordi Works

ORDI allows people to inscribe a Satoshi with information. As the whitepaper says: “Satoshis can be inscribed with arbitrary content, creating Bitcoin-native digital artifacts. Inscribing is done by sending the satoshi to be inscribed in a transaction that reveals the inscription content on-chain. This content is then inextricably linked to that satoshi, turning it into an immutable digital artifact that can be tracked, transferred, hoarded, bought, sold, lost, and rediscovered.”

ORDIs can be bought, sold, or traded. 

While NFTs are created on a blockchain – usually Ethereum (ETH) – before getting stored off-chain, Ordinals are based on the Bitcoin blockchain itself. 

Because they are based on Bitcoin itself, ORDIs are tokens, not coins. You might see references to such things as ORDI coin price predictions, but these are wrong. 

Ordinals Attention Tracker

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

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.

About the Author

Peter Henn

Peter Henn has been a journalist since 2005. In that time, he has written for a variety of publishers including the Mail on Sunday and the Daily Express. He has previously covered the world of cryptocurrency for Currency.com and Capital.com, and has also written for ECigIntelligence.com and CBD-Intel.com. A graduate of the University of Liverpool, he is based in the United Kingdom. His hobbies include music, horse racing and performance art.

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