The Internet Computer (ICP) price prediction
Blockchain technology is constantly evolving. New projects are popping up every day. Only a handful of these projects are getting the attention of the blockchain community. One such project is the Internet Computer (ICP).
This new cryptocurrency was quickly gaining popularity and became the most valuable in terms of market capitalization. This article will explore The Internet Computer project, perform technical analysis on the ICP coin and analyze price predictions by experts.
What is The Internet Computer (ICP), and how does it work?
The Internet Computer is a distributed blockchain project that was developed by DFINITY Foundation (a non-profit research organization based in Zurich, Switzerland). Dominic Williams, a crypto-theoretician and entrepreneur, founded DFINITY in October 2016. The Internet Computer is being positioned by developers as the third stage in blockchain development. Bitcoin, the first cryptocurrency, was the first step. The second was Ethereum which introduced smart contracts. The Internet Computer is expected to represent the third step, “limitless blockchain”.
This network is unique because it provides a convenient environment to support smart contracts and allows them to run at speeds comparable to the Internet. The network’s high scalability, cost reductions, and flexibility make it ideal for mass media services, financial apps that are decentralized and other applications.
The Internet Computer is determined to compete with tech giants. Dominic Williams says that although the Internet was initially popularized for its openness and decentralization, it is now too monopolized. Many large players control hosting services, including Amazon Web Services and Google. They have the power to restrict access and change platform parameters and rules without notice to companies and users. Developers can use The Internet Computer to create websites, corporate IT systems, and Internet services. They can host their code directly on the public Internet without any need for servers or commercial cloud service.
In 2016, the project was first announced and quickly attracted the attention of the cryptocurrency community. The venture fund Andreessen Horowitz supported the project in 2018 and Polychain Capital invested $102 million. DFINITY raised $166.9 Million. The Internet Computer network was launched on 18 December 2020. The Coinbase cryptocurrency exchange made the ICP token available to all users on 10 May 2021. The coin was soon also listed on Huobi, OKEx, and Binance.
The following are some of the most popular apps that run on The Internet Computer:
- Also Finance is a decentralized stock exchange
- The district is a professional, decentralized social media network.
- Openshaw is an open-source version of the standard chat app
- The capsule is a social media platform that’s decentralized and free of censorship
- Fleek is a platform that allows you to create open websites and mobile apps.
Analysis of the Internet Computer (ICP), price
The ICP token was 11th in cryptocurrencies by market capitalization at $14,769 24,255,944 as of the date of writing
Price history of ICP
ICP is still a young coin and has almost no history of price. It was listed for the first time on Coinbase’s exchange on 10 May 2021 at $737.20. The price dropped almost immediately to $250. It rose to $491 the next day, then began to decline again. It continued to fall until the 19th of May when it reached an all-time low. The price rose sharply to $223 the next day. It was corrected after that and fluctuated between $120 and $166. The support level at $120 was broken by sellers on 28 May. Price stability remained between $102-120. The momentum waned after buyers finally broke through the $120 resistance on June 3.
Technical analysis ICP
Technical analysis of a coin with a short history is difficult. The price fell to $102-$120 after a brief breakout above the $120 resistance level. The MACD also signals a weak bearish sentiment. The breakout of the resistance level at $120 could signal the start of a bullish trend. The all-time high will come at the end of the year if the price drops below the $102 support level, let alone the $100 round number.
The Internet Computer Price Prediction 2018-2020
The ICP was first listed on crypto exchanges on May 10, 2021. It was not traded before that date.
Predictions for the price of Internet Computer (ICP), 2021, 2022 and 2023, 2023, 2024, 2025, 2030
Let’s now take a look at the opinions of renowned experts about ICP’s prospects. Here are some of their predictions. It is important to note that many experts are still unfamiliar with the coin and have not had the time to predict its future.
WalletInvestor’s ICP prediction for 2021-2022, 2023-2004, 2023-2004, 2025, 2030
WalletInvestor is not optimistic about ICP. They predict that the price of ICP will drop to $3 by the end of this year. The price of oil may rise in 2022 but it will continue to fall. It will be below $1 by 2025.
DigitalCoinPrice’s ICP Price Prediction for 2021-2022, 2023-2023, 2025 and 2030
DigitalCoinPrice disagrees WalletInvestor’s forecast and believes ICP’s price will increase. Their calculations show that the price of ICP will drop slightly in the fall but will rise again by winter, and will reach $185 by the end. The price of oil will remain stable in 2022, despite some short-term fluctuations. We will see a bullish trend over the next years. The price will be $363 by 2025, and $467 by 2028.
PickACrypto’s ICP prediction for 2021-2022, 2023-2004, 2023-2004, 2025, 2030
PickACrypto is optimistic about ICP’s prospects. PickACrypto believes that the coin’s price will rise to $1,000 this year, and even $1,750 if the developers keep working on the project. As the project progresses and related products are adopted more, they believe the price will rise to $3,500-$7500 by 2025.
Future value of the Internet Computer
ICP is not a new cryptocurrency, but it’s being supported by an interesting and promising project that is being developed by a large group of highly qualified specialists. The Internet Computer caught the attention of many investors and the crypto community. This project aims to address specific, but not universal, problems that are inherent on the Internet. It will be significant if it achieves even a small part of these goals.
Is the Internet Computer going up?
This is directly dependent on the success of the project team in achieving the goals that they have set. It is important to consider the competition offering similar functionality. It is also important to remember that only 30% of total tokens are currently in circulation. The price will rise when the remaining coins are put on the market.
ICP: How high can it go?
No one knows the future. It has only been on the exchanges for a short time, so it is impossible to predict its future price. Popular experts can also be wildly wrong in their predictions, as we have already mentioned.