Earlier this year, APE Coin was on a high and had a top market cap of over $6 billion. However, since then it has fallen to around $500 million;
Will APE ever recover?
This article will go through various possible scenarios that could affect the price of APE in the future. In order to understand what may happen with regards to APE in the near future, it is important to first look at what caused recent major fluctuations in growth and decline within its value. The most recent factors are government regulations and otherside land sales.
The regulation by the SEC could possibly affect how cryptocurrency can be traded on Wall Street as well as how it might affect investors from outside of America. It also has the chance of affecting APE from within America as well as preventing new investors from first buying APE and then investing in other cryptocurrencies.
In recent news, the SEC created a web page regarding cryptocurrencies. At this time it is unclear what their exact plans are, but the potential effects of them have been discussed by many cryptocurrency enthusiasts on Reddit.
Another factor could be due to a partnership that has just recently come to light with kraken exchange acting as a custodian for APE coin with regards to its future development. According to these announcements, kraken will provide support for some of their clients in terms of the use of cryptographically secure keys and wallets for storing crypto assets such as APE Coin.
ApeCoin Price Predictions
The price of APE can fluctuate quite a bit based on news related to the coin itself or cryptocurrency in general. However, there are many other factors that may affect the value of the coin, which is why it is important to look at some of the basics before getting overly caught up in future movements.
The price of APE started off at $0.000191 and shot up to $1.90 dollars with a market cap accumulated at around $2 billion USD in early January 2018. After this point, it began to decline and reached its lowest point so far in April when it was valued at around $0.000303. It has risen ever since and currently stands at around $0.0007552 with a market cap of around $1.4 billion USD.
As well as the fluctuations in its value, there was some malicious spamming on the airdrop thread for APE coin. This has caused people to want to sell off their coins because they were confused about it so as a result of this, we can see the market cap of APE drop from $2 billion USD to approximately $1.5 billion USD at this time because people have been selling their coins out of confusion.
What is the Future of Ape coin: Will it increase in value like other cryptocurrencies?
As previously mentioned, there are a lot of factors that affect the value of APE. Because it has had its low point at $0.000303, this could indicate that the price may rise significantly in order to try and find a stable value again. The future is unknown because there are various possibilities for what could happen next.
Otherside land sales: Otherside company has already sold their land allotments in San Francisco and Singapore with Singapore selling out on June 25th last year and South SF selling on April 3rd this year. However, there are still sales taking place in New York and London.
However, there is a good chance that the price will crash if Other side does not reach their target of $2.5 million dollars by the end of June. If this happens, it is possible that APE coin will be valued at around $0.0003 again due to people selling off their coins in order to receive a basic income and money that they can use to support themselves with while otherside continues its development process.
Will APE rise again?
There is a possibility that the APE coin may rise again in value, but there is no guarantee as to what will happen. There are several factors beyond just the price itself which affect how it rises or falls in value. Because of this, it is hard to predict with confidence what will happen next with regards to its price.
