In this post, we will take an in-depth look at ICP price prediction to answer the question: Is ICP a good investment or not?
Here, we will bring you the most recent market analyses and opinions about ICP price prediction provided by leading and recognized experts and analysts around this topic. Then, if you are wondering when the best time is to invest in ICP? Or if you are concerned whether Internet Computer is a safe asset worth your investment or not? We recommend you keep reading this article to decide better if you should consider investing in the coin.
What is Internet Computer Protocol (ICP)?
In a nutshell, the Internet Computer Protocol project intends to decentralize all aspects of the internet, providing a new internet altogether. Internet computer’s founder is Dominic Williams, an eminent British computer scientist. Internet Computer is a Blockchain protocol as well as a cryptocurrency. The Internet Computer Protocol allows internet users to launch dApps, social media applications, websites, databases, video games, and other website-related services that are resistant to censorship. An Internet that is free from any form of control in the technology industry, without the need for big tech firms like Microsoft or Apple to host them. Thus, the Internet Computer would help us get our freedom back by leaving no trace in the digital world and having far more control over our data and operations on the internet.
Dfinity Foundation –based in Zurich- is the organization that ensures the development, marketing, and adoption of the protocol by a team of 188 top experts and scientists. Dfinity Foundation was founded in October 2016. Later, the Internet Computer network was launched on 18 December 2020. Subsequently, on May 10, 2021, the ICP cryptocurrency became available to everyone on the Coinbase exchange.
Why Invest in ICP?
The Internet Computer Protocol might be one of the most promising cryptocurrency projects. The ICP developers intend to make the World Wide Web open to everyone, make it more secure, public, and decentralized. If the protocol can provide all of the services across the internet and offer a decentralized alternative to the existing system, it will become the principal driver of price increases for ICP coins. The Internet Computer is an innovative technology that can revolutionize the web world in the future.
The scientific innovation behind the Internet Computer encompasses dozens of advanced technologies such as novel Consensus, Non-Interactive Distributed Key Generation (NI-DKG), Network Nervous System (NNS), Internet Identity, etc. Many consider the Internet Computer project as the third step in blockchain development. The first step was Bitcoin, the first cryptocurrency for mining, and Bitcoin cloud mining. The second one was Ethereum, which introduced Smart Contracts. And the third step —limitless blockchain — is represented by the Internet Computer. Additionally, the Internet Computer is the first cryptocurrency backed by a protocol. These are some of the reasons out of many as to why investing in the ICP could be profitable.
On its official website, the Internet Computer Protocol project has a 20-year-old roadmap. Therefore, the project has a long way to go before achieving its objectives. Even though many industry insiders are excited about the project and its prospects for making a revolution in the digital sector, others question whether the developers behind ICP have bitten off more than they can chew.
An Overview of ICP Price History
One of the easiest methods to predict the future price of cryptocurrencies like ICP is to look at the crypto price history. However, ICP is still a very new coin with only a short price history. Nonetheless, ICP started trading on Monday, 10 May 2021, at the all-time high price of $737.20 on its opening day. ICP had a remarkable debut and launched almost into the top ten cryptocurrencies by market cap. However, prices dropped to around $333 before Monday was out, yet ICP saw another surge the following day, reaching $478.
Then, the ICP price declined to a low of $257.15 on 13 May. After that, ICP corrected and floated in the range of $120 to $166. On 28 May, the ICP price remained within the range of $102-120. Buyers broke $120 resistance on 3 June. But the momentum soon faded away. The coin reached its all-time low of $20.08 on June 14, 2021.
Source: TradingBeasts (ICP Price Movement)
The Internet Computer price for August 16, 2021, is $65.92, showing about a %6.80 increase in the last 24 hours. Also, the Internet Computer price increased by %15.26 for the week. According to CoinMarketCap, the Internet Computer is the 21st most expensive digital currency globally.
CoinArbitrageBot (ICP/USD Technical analysis)
ICP Price Prediction in 2021 and Onwards
Here we will examine how top crypto experts and analysts think the ICP price will perform in the future. However, given the short history of the coin in the market, these predictions are just speculations and should not be taken for granted.
PickACrypto.com recently released a very optimistic ICP price prediction for the coming years. According to the platform, Internet Computer (ICP) will grow to $7,500 in the coming years, reaching $6,900 in 2025. In the long term, they think ICP will grow based on the fundamentals of the Internet Computer project and the progress that the Internet Computer team is making towards their roadmap goals and milestones.
According to the website, Internet Computer (ICP) has a good chance of visiting the $1,000 to $1,750 mark in 2021 as long as the trend continues and the team continues to work on their products and partnerships. The price prediction currently sounds highly overoptimistic.
CoinArbitrageBot ICP Price Forecast
CoinArbitrageBot has used existing price data to formulate its Internet Computer (ICP) price prediction. While it does not expect Internet Computer (ICP) to return to its record price in 2021, it expects the coin to be 148.384 USD at the end of 2021. Also, it can be 148.384 USD exactly, one year later today.
In the next three years, the highest price ICP could reach is $868.622 and the lowest Internet Computer price could be $50.1042. As such, at the end of 2022, the Internet Computer price would be around $240.085 while it could easily end up at price levels of $388.458 by the end of 2023. For 2024, their ICP price prediction is $628.525 per coin. Furthermore, according to their forecast, the highest possible price for the coin could be $868.622 and the lowest possible price for it could be $50.1042 in the future.
WalletInvestor ICP Price Prediction
WalletInvestor is pessimistic concerning ICP. According to the Wallet Investor forecast system, ICP is a bad long-term investment. Internet Computer price is $66.171 at 2021-08-16, but according to their technical price analyses, ICP may be devalued in the future. The platform believes that ICP will crash in the future.
Source: WalletInvestor (Long-term ICP Price Prediction)
Short-term ICP Price Prediction
As shown in the graphs above, Wallet Investor cryptocurrency analysts imply that there will be a negative trend in the future. Thus, ICP is not a good investment for making money. Since this virtual currency has a negative outlook, the platform recommends looking for other cryptocurrencies instead of adding ICP to the investment portfolio. Trading in bear markets is always harder. Thus, you may want to avoid this currency if you are not a seasoned investor.
Trading Beasts ICP Price Prediction
The Internet Computer price is forecasted to decrease to $47.511 by the beginning of September 2021. According to the platform, ICP will be $44.081 by the beginning of December 2021. The expected maximum price is $65.057 and the minimum price is $44.239.
Source: TradingBeasts (ICP Price Prediction for 2021)
Based on TradingBeasts ICP price prediction, the coin will be at least $106.653 in December 2022, $134.157 in December 2023, and at least $151.736 in December 2024. Therefore, the Internet Computer price is supposed to decrease in the following months of 2021. However, TradingBeasts ICP forecasts are more positive than WalletInvestor for the coming years. Hence, TradingBeasts expects that the Internet Computer price will go up in the next year. Presently, the Internet Computer price is $65.830. But by the end of 2022, the average Internet Computer price is expected to be $125.475.
Coincodex ICP Price Prediction
According to Coincodex ICP price prediction, Internet Computer is a bad buy in 2021. The platform predicts that the Internet Computer price will decline by -2.79% over the next week and reach $61.04 by August 21, 2021. As such, the ICP price will decrease by -50.44% over the next month, reaching $31.12 by September 15, 2021.
Source: Coincodex (Short-term ICP Price Prediction)
Digital Coin Price ICP Price Prediction
Experts at Digital Coin Price think that ICP could go to $96.75 by the end of 2021. By the end of 2022, the coin will be $108.83. In 2023, ICP could trade for a coin at $131.63. The site believes Internet Computer Coin would increase slightly to $159.52 due to the numerous applications running on the ICP’s platform by 2024. ICP may trade for $226.84 by 2026, $250.2 by 2027, and $273.63 by 2028. Coin Price ICP price prediction is overwhelmingly optimistic. As shown in the graph below, the ICP price will steadily rise. Contrary to WalletInvestor, Digital Coin Price says that Internet Computer (ICP) is a profitable investment based on their forecasting.
Source: Digital Coin Price (ICP Price Prediction form 2021-2028)
Crypto-Rating has gone even further than Digital Coin Price. They think that ICP will top out at over $10,000 per coin in 2030.
A cryptocurrency research firm by the name of Crypto Research Report is calling for Internet Computer (ICP) to hit $2,500 by 2025, and $7,100 by 2030.
Olaf Carlson-Wee, the founder of Polychain Capital, is also optimistic about the future of Internet Computer. He claims to have first acquired ICP tokens about three years ago after being impressed with the Dfinity project’s technological breakthroughs. “Dfinity is the most important technology launched since Ethereum,” he said. “People like me in the crypto world recognize the magnitude of the technology breakthroughs Dfinity represents.” He added that even Ethereum would not be able to match Internet Computer for speed and performance. “Dfinity will enable novel types of apps that are not possible to build on any other blockchain.”
Lastly, it is essential to note that these predictions have been derived from a limited amount of historical data. It is because Internet Computer (ICP) is a very new cryptocurrency on the market. In this regard, ICP price predictions should not serve as the sole basis for any investment.
There is no doubt that Internet Computer has outlined a very impressive objective. But whether it can realize this or not is also equally important to the future destiny of the ICP coin. Currently, the Internet Computer is a highly speculative investment.
As a young coin for investors and cloud miner centers, its price is fairly high. No one knows whether or not the project will see significant success over the next few years, but if it does, the ICP price will surely go up. Then, the ICP coin’s growth in the crypto market heavily depends on how successful the ICP team is doing. Fundamental analysis of the Internet Computer is equally crucial in determining the right time for buying or selling the coin. You will need to stay up to date with news, upcoming events, overall investor sentiment, market conditions, technical indicators, and researching what the Internet Computer team is doing to decide better whether you should invest or not in the coin. In addition, you shouldn’t ignore the pressure from competitors that offer similar features.
On the whole, no one can tell with complete certainty that investing in ICP will make you rich or not. As mentioned earlier, some ICP price prediction agencies and experts are radically contradictory in their forecasts. Therefore, you had better take into account ICP rewards and risks and weigh these two factors thoroughly based on your financial situation and investment goals.