It hasn’t been an easy month for crypto. Following the global scandal involving exchange platform FTX and founder Sam Bankman-Fried, digital currencies have been falling as experts ponder the future of decentralized finance. However, one crypto just got some good news after a month of trending downward. Billionaire investor Bill Ackman has issued a strong endorsement for Helium (HNT-USD).
This blockchain project has generated plenty of controversy, as Helium has reported false endorsements and brand partnerships in the past. But as Ackman sees it, HNT crypto could still “build intrinsic value over time.” The founder of Pershing Square Capital Management recently took to Twitter to make a bullish case for Helium.
Initially, I assumed that there is no intrinsic value to any of the tokens and therefore they simply represent a modern-day version of tulip mania without the aesthetic benefits. But after examining a number of interesting crypto projects, I began to
— Bill Ackman (@BillAckman) November 20, 2022
While the current crypto contagion has pushed many digital coins and tokens down, Helium’s problems didn’t start with the FTX meltdown. HNT crypto is down more than 90% so far this year and hasn’t given investors much cause for optimism. Even amid positive growth catalysts, prices have fallen. As InvestorPlace’s Ashley Cassell notes, the blockchain project stood to benefit from the release of the iPhone 14. But neither that or Ackman’s recent endorsement have been able to boost prices.
Currently, most Helium price predictions are generally positive, although not everyone is as positive as Ackman. Let’s take a look at where other experts expect Helium to go from here.
Helium Crypto Price Predictions
- WalletInvestor is highly bearish on Helium. The platform predicts that HNT crypto can drop from its current price to 30 cents by 2023, representing a decline of roughly 86%. Its analysis also predicts that a crash is possible.
- GovCapital is significantly more bullish in its Helium price predictions. According to its forecast, Helium will continue falling throughout the month but rise in the coming year. It sees the price of HNT going as high as $38.92 by November 2023, a gain of 1517%.
- DigitalCoinPrice also sees HNT crypto rising in the coming years. Its bullish forecast is that Helium prices can reach a maximum of $2.70 in 2022 and surpass $5 in 2023. The platform’s analysis also indicates that HNT will be close to $10 per coin in 2025, if not over.
- CoinCodex predicts that Helium will rise almost 4% before the end of November 2022. According to technical indicators, the platform sees current sentiment as bearish with its “Fear & Greed Index” showing “Extreme Fear.” However, CoinCodex remains bullish, predicting HNT will reach $$ 11.45 in 2023 and $ 14.78 in 2024 based on internet growth.
On the date of publication, Samuel O’Brient did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Samuel O’Brient has been covering financial markets and analyzing economic policy for three-plus years. His areas of expertise involve electric vehicle (EV) stocks, green energy and NFTs. O’Brient loves helping everyone understand the complexities of economics. He is ranked in the top 15% of stock pickers on TipRanks.