The year 2018 was a difficult one for Verge at various levels. What is Verge’s forecast for the next 5 years? Will the crypto currency be able to recover and appreciate again?
Verge Coin Basics
Verge was originally founded as DogeCoin Dark in September 2014 by a team of international developers around Justin Sunerok. The goal of the project was a payment platform that is completely decentralized and protects the privacy of customers. Two years later, the name was changed to Verge, while the goals remained unchanged.
The main features of the platform are as follows:
- The location and IP address of a transaction can be kept secret by Tor and the anonymous I2P network layer. This allows customers to make anonymous transactions if desired.
- Through Simple Payment Verification, the block time is approximately 5 seconds.
- Features 5 different proof-of-work algorithms
Verge forecast: the decisive factors
Some past incidents and current news are important for making a Verge forecast as they can affect the value of the coin.
- iOS Wallet: In April 2019 Verge finally announced the completion of its iOS Wallet. This could have a positive impact on the price as the potential user base increases.
- Upgrade codebase: Verge announced last year that they would redesign the codebase to transfer the standards shared with Bitcoin. According to the roadmap, this step was completed on May 16, 2019.
- Future plans: Some of the points on the roadmap are nearing completion. The development team is getting ready for the release of the new desktop wallet. Work is currently underway on an update on the sensitive issue of mining for the company. This has already been implemented at 80 %.
- Hacking incidents: The year 2018 was not a particularly glamorous one for Verge. In April, the blockchain became the victim of a so-called time-warp attack in which Miner manipulated the time stamp and was thus able to attach a new block every second. A month later there was another attack with a similar effect, but a different approach. Here, too, some miners managed to manipulate the timestamp so that they could mine several blocks per minute. The platform experienced a total of 3 hacking attacks of this kind. Although the accounts of the users were never in danger, these incidents had a negative effect on the reputation.
- Partnerships: Like any product, the value of the Verge Coin depends on the volume of trade and user acceptance. For this reason, the company makes every effort to enter into as many partnerships as possible. Interesting partnerships last year were the integration of Verge into Pornhub. Many hopes were also placed in working with LTC and TokenPay through WEG Bank. It remains to be seen whether Verge (website) will ultimately benefit from the partnerships in the long term.
Verge price prediction 2019 – 2025 in figures: What analysts say
Overall, the Verge price prediction is rather mixed. However, it should be remembered that this is only an estimation and speculation. None of the forecasts presented here can guarantee that they will prove to be true.
Most analysts assume a sideways movement or at most a moderate price gain (current Verge price). Big moves seem unlikely for the coin at this time. Expressed in numbers, this means in detail:
- Cryptoground: The Verge Coin is seen only as a long-term investment. For investors who are willing to wait 5 years or longer, the coin could be attractive, according to the analysis. By 2020, the price is expected to rise slowly to US$0.0179, an increase of around 74%. The algorithmic analysis predicts a value of US$0.1933 by 2025. This would increase the price by about 1500 %. A crash of the Verge coin is considered unlikely.
- WalletInvestor: The well-known forecast website WalletInvestor estimates the chances for investors to make a profit with the Verge Coin in the long run as very poor. It is very unlikely that the Verge Coin could break the US$1 mark next year. By May 2020, they expect a price drop of around 61%, so that 1 Verge Coin will cost an average of around US$0.0047. The coin will not be able to recover this loss in the next 5 years. With slight variations, it looks as if Verge will stagnate and run sideways. Because at the end of May 2024, i.e. in about 5 years, the exchange price will be around US$ 0.0045. In contrast to Cryptoground, people here believe that a crash would be quite possible.
- Coinswitch: The analysts have included the latest upgrades, such as the iOS Wallet, or the new partnerships in their Verge forecast. Therefore, they expected the price to rise to US$ 0.09 by the end of 2019 which is highly unlikely. If new partnerships follow and mass acceptance is increased, then a further increase in the price would also be possible in the coming year 2020. Verge could then reach up to US$ 0.175. In 5 years, i.e. until 2024, a price of US$ 0.269 would be realistic, according to the estimate.