Hex was launched in December 2019 at a modest price of $0.00021740 (three zeroes) and the crypto has skyrocketed thereon. It took Hex just 14 months to jump from $0.00021740 to $0.01 as it spiked 10,000x in a short period. The crypto reached the 1 cent mark in February 2021 and hit its all-time high of $0.51 in September of the same year. Therefore, in seven months, Hex climbed $0.50 and looked prime to breach the $1 mark.
From September last year, the crypto went on a downward spiral and is now trading at $0.03, at its May 2021 lows.
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However, early investors are not complaining about the price drop as they made massive wealth between 2019 to 2021. It doubled in price approximately every 48 days from launch day till September 2021, allowing early investors to sit on sacks of profits.
Now that Hex is down to its 18-month low, the crypto is finding it hard to claw back to its previous glory. It has mostly traded backward and sideways in 2022 with no price breakouts like it did last year. This article will showcase how high and low Hex could trade in 2023.
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Hex Price Prediction For 2023
Hex might most likely trade sideways in 2023 due to global macroeconomic factors. Both the stock and crypto markets are tanking due to high inflation, negative GDP growth, and rising oil prices. In addition, leading analysts and Fortune 500 company CEOs are predicting that the US will enter into a recession in 2023.
Bank of America published a report that the recession will cause 175,000 job losses next year in the US alone. All these developments put Hex on a slippery slope that could stunt its growth.
Despite this, Cryptopolitan has predicted that Hex could briefly spike in price in 2023 despite the markets being in turmoil.
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“Hex value will reach a minimum price value of $0.086 and a maximum of $0.097,” the prediction states. The average trading price for the crypto in 2023 might hover around the $0.088 mark.
At press time, Hex was trading at $0.03 and is down 1.1% in the 24 hours day trade. The cryptocurrency is down 87.7% since the last 365 trading days.