Disclaimer: The information provided here does not constitute any form of financial advice. Readers are fully responsible for conducting their due diligence before making any investment decisions.
Voyager: Market sentiment
Generally, we tend to look at the sentiment of the overall crypto market (most of which is heavily correlated to Bitcoin’s price) rather than of an individual coin. In this regard, we’ll analyze the Fear & Greed Index (FGI), which measures the level of fear (representing buying opportunities) and greed (suggesting selling opportunities).
The index’s current reading is 8, a figure the FGI hasn’t visited in over a year, as shown in the chart below.
Such a scenario is regarded as ‘extreme fear.’ When the index is near all-time lows, a correction to the upside is usually imminent under normal circumstances.
However, as the overall market is tanking for broader fundamental reasons, we cannot assume this will be the case. As we’ll see in the next section, altcoins like VGX have continued falling.
On the brighter side, a so-called ‘crash’ may see more investors looking to ‘buy the dip’ due to the lower prices. So, the markets still have a chance to recover in line with the index’s readings.
Technical analysis
As briefly mentioned, VGX’s price has been falling for several weeks, along with the general crypto decline. The chart above shows that the market broke the support level at $1.30, with a brief retest before trending lower.
The 50-day (orange) and 200-day (blue) moving averages further confirm the bearishness. The price is clearly trading below the two, with the 50 being under 200. The $1.30 mark is a level to watch since it may act as a resistance level in the future.
Alternatively, if the price confidently breaches this point without a false breakout, the moving averages may present a bullish scenario when the 50 crosses above the 200.
Fundamental analysis
Let’s look at the recent news pertaining to Voyager and its long-term value proposition.
Recent news
Voyager raised a reported $60 million in a private placement offering led by Alameda Research for, according to them, ‘general corporate purposes.’
Long-term value proposition
Since late 2021, Voyager’s price has dropped close to 90%. Moreover, Voyager’s listed stock on the Toronto Stock Exchange has also lost substantial value this year.
One of the reasons for the decline is that the company is embroiled in a class action lawsuit due to allegations of misleading clients through hidden fees and the sale of unregistered securities.
XRP or Ripple is also undergoing a similar case. Generally, these scenarios cast a lot of doubt on a crypto project’s future. Despite Voyager having a substantial user base and reporting profits, it hasn’t received the best client reviews.
Furthermore, the share price has fallen dramatically, meaning its performance will correlate with the VGX token. So, we believe the lawsuit is currently putting a dent in Voyager’s trust. The only positive point is that VGX has reached its maximum supply of 278,482,214, making it deflationary.
Although this quality should theoretically make the token more valuable over time, the legal case must be resolved first.
Voyager (VGX) price prediction: 2023-2025
Despite the negatives surrounding Voyager, many prediction sites forecast VGX to be worth more in 2023 and 2025. The estimates derived are relatively conservative.
2023 forecasts
The average value we derived was $1.66 for 2023. Below are a few of the estimates we saw:
- $1.45 peak price from Digitalcoinprice
- $1.29 maximum value from PricePrediction.net
- $1.20 peak price from Tech News Leader
Gov.Capital offered the most ambitious projections for VGX, with minimum and maximum figures of $2.03 and $2.75, respectively.
2025 forecasts
For 2025, the average we calculated was $2.21 derived from the following sites:
- $1.52 peak price from Digitalcoinprice
- $2.70 maximum value from PricePrediction.net
- $2.42 peak price from Tech News Leader
Likewise, Gov.Capital was the most bullish of the lot, with a minimum of $15 and a peak of $20.30.
Voyager frequently asked questions (FAQs)
Is Voyager real?
Yes, the app has been in existence since 2018.
What is the Voyager price today?
$0.83.
Will Voyager’s price reach $10?
From the average estimates we observed, $10 seems unlikely in the next few years.
Should I buy VGX?
Our fundamental analysis suggests some uncertainty on Voyager’s future, mainly concerning the pending lawsuit. Therefore, it might not be the best bet presently.
Where do I buy VGX?
You can purchase VGX in two ways. The first is from popular third-party exchanges like Coinbase, Binance, Gate.io, and FTX (CoinMarketCap lists 11). Alternatively, you can also buy the coin directly on Voyager.
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