If you’re following the latest ICOs and ICO news, you may have noticed that the ICP token has been on the back burner. While it was once considered the best decentralized data center, the company’s recent troubles have left investors frustrated. The token’s price has plummeted from nearly $120 to under $5 in just a few weeks, and the ICP team has been criticized for their poor performance.
The Internet Computer Project is a decentralized platform that is re-imagining how we build everything. Its blockchain has infinite capacity and will allow developers to build anything they can imagine. This can include DeFi apps, tokenised social networks, and more. The company was founded by Dominic Williams, who is also the chief scientist and founder of Dfinity.
The company aims to create a decentralised paradise by letting its users create and store their own data. Currently, data is stored in large data centres and sent to devices. Using ICP, users can store data on their computers and access it wherever they go. The company is currently having a tough time, and a large portion of its tokens were dumped in the first month.
While the ICP coin may have a rough start in the crypto world, its price is expected to rise significantly in the next few years. The project’s developers have outlined their goals for the token, and many analysts expect that ICP will hit $7.10 or $8 by the end of the year. They believe that the project is a good investment, and that the price will increase with its popularity.
The ICP coin is already listed on crypto exchanges. It has not been traded prior to that, so popular experts have not had time to make predictions about its price. However, one popular prediction site, WalletInvestor, predicts that the price will drop below $1 in one year. This would represent a 91% decrease in value from its current levels. However, there’s a chance that the price will continue to fall in the next few years, and it could even stabilize at $0.50 by 2025.
The price of ICP is currently trading at around $1.64. This is a healthy price range for the cryptocurrency. However, investors should wait until the bulls are sustained at the current level before investing in it. Moreover, they should wait for the token to break through its breakout phase. That way, they can avoid the potential losses associated with a sudden plunge.
Internet Computer is currently holding the 43rd position on CoinGecko. This indicates that Internet Computer has the potential for a downward breakout. It has two Doji candles on the daily chart. These indicate that the price is about to ‘beat’ a downward diagonal resistance at $7.20. If this pattern is rejected, ICP price will likely fall towards $6.68 before reaching its predicted low of $5. However, if the bulls fail to save the market, the EMA 21 could be a good support at $6.94 area.