Polkadot is just really getting started. Today the parachains were announced and the PA reacted instantly.
A famous saying goes "show me the charts, I'll tell you the news".
Well right at the end of a near perfect cup n' handle, parachains were announced. Coincidence? Fibonacci? Random word to sound smart yet mystic-like?
Whether you buy in now or the retest around $37-$40, this is your choice. But 5-10 years down the line when 1 DOT token will be valued over $10,000, you are not going to care whether you bought the retest or not.
$10,000 how? Simple. Polkadot is a layer 0 solution. It is naturally going to solve every other blockchain's problems of scalability vs speed vs decentralisation with its parachains. Don't be surprised if we see a Solana or an Ethereum bidding for a parachain someday to fix their own issues that won't be solved by their (dare I say) centralised base layers.
If there is 1 token that will not only overtake ETH, but overtake BTC, I have my money on DOT. Assuming of course nothing drastic happens to their code.
Why?
DOT's utility is made to drive the price up. When the community are leasing DOT tokens for up to 2 years at a time - multiply that by 100 (for the number of parachains) and then add the fact there will be a large chunk put into staking for governance and, furthermore, DOT's that will be in corporations and countries' balance sheets/crypto reserves, what's left is a very little supply of DOTs left circulating for us.
@exactingKitten39433, 5-10 years' time. This is entirely possible. Look at Ethereum. February 2017 ETH was under $11.
4.5 years later it is just under $4000 looking very likely it will touch $10,000 this cycle.
If DOT proves its worth over the next 4 years, it can flip Ethereum's market cap. To do that by the top of the NEXT cycle (where ETH could top at $30-50k), DOT will have to reach a valuation of $10,000 per DOT.
I think $10,000 is conservative in 10 years' time for what DOT's technology offers and how its utility is implemented. You are talking about staking and locking the vast majority of its supply! DOT will be one of the most scarce tokens when all 100 parachains are filled.
Apologies if my prediction of $10,000 offends you. I am merely stating this so I can revisit in 5-10 years' time to see how accurate I was.
@tiranosjf, It will all depend on the adoption. The parachain technology is for real. Layer 0 technology is a joker card in the game of cryptos. It can be slotted anywhere. Time will tell.
PS I'm only going based on Ethereum's PA over the last 5 years. No one ever thought ETH will go over $2000 when it was around $200 back in 2017. I remember as I was there. I foolishly made the mistake of going big on XRP at the time. This time round, I understand the tech behind blockchain a lot more and I'm understanding the problems this industry is facing. Polkadot fixes every problem right now with the parachain concept mixed with the genius idea of having common good parachains that will be utilised by every parachain. It fixes scalability, decentralisation, speed and interoperability. Only ROSE may compete as it has a privacy layer that Polkadot does not yet have. But that's a whole other issue.