Maker is based on Ethereum platform, and it has the aim of creating a line of decentralized digital assets that can be tied to the value of real instruments like gold or currency. It is relatively a lesser known cryptocurrency. It is an autonomous decentralized organization with the objective to minimize the price volatility of its stablecoin, known as DAI, against the US dollar. Maker coins are not mined but, these are purchased on the Bibox exchange.
Present status of MKR
MKR is currently getting traded at USD 734.58 (UTC time 05:41). Based on its market cap, it is the 16th largest cryptocurrency with a circulating supply of 1,000,000 MKR. Its present market cap has a trading value worth of USD 734,581,834. It is currently running on a bull trend of 1.98%.
Price analysis of MKR on the basis of Maker charts
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The above chart shows that currently, MKR is getting traded at 735.14 USD or 0.18176535 BTC (UTC time 05:45). Its present market cap has a trading value worth of 735,137,637 USD. Its 24h volume is worth of 7,239,851 USD. The same chart shows that approx. One month earlier, MKR had a trading value of 695.72 USD. So, in this duration, the value of MKR has been on a bull trend by 5.66% with 668.53 USD as a good support resistance.
Future price prediction of Maker (MKR)
The stability of MKR is highly doubtful and on top it, the crypto market itself is highly volatile. Although, the experts think that MKR is subjected to do well in this year and it can be a good choice for short term investment. Analysts think that MKR is expected to trade around $720 by the end of this year if the crypto market condition improves and the community of MKR expands. The minimum price that MKR can reach this year is expected to be around $253.24. By 2020, majority crypto experts think that volatility will reduce and this can be a great opportunity for Maker to rise as high as $1000. To be optimistic, if MKR remains stable in 2020, it is expected to trade around $650 in that year. Moreover, many organizations, financial institutions are taking interests in blockchain technology so, it is assumed that after five years, MKR can reach a height of $3000.
Conclusion
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The crypto market being highly volatile these days, it is better for the investors to wait for the right time to invest in this crypto.
