Filecoin Price Prediction 2023-2030? Can Filecoin Reach $1000?

The Latest Price of Filecoin 

Filecoin Past Performance, June 8th

  • Last 7 days: -12.0%
  • Last 1 month: -8.9%
  • Last 6 months: -6.9%
  • Last 1 year: -43.5%

Filecoin Latest News, June 8th

Filecoin Price Prediction (Short-term Analysis)

Filecoin Price Prediction for the Next 6 Hours

Filecoin Price for the Next few Hours will be in the range of 3.3 and 3.4

Filecoin Technical Analysis, June 8th

  • The moving averages indicate a strong sell signal as most periods (MA5, MA10, MA20, MA50, MA100, MA200) suggest a sell.
  • RSI(14) – The Relative Strength Index (RSI) measures the speed and change of price movements. A value above 70 typically indicates overbought conditions, while a value below 30 suggests oversold conditions. With an RSI of 29.251, it suggests a buy signal.
  • STOCHRSI(14) – The Stochastic RSI combines elements of both the Stochastic Oscillator and RSI. Values above 80 indicate overbought conditions, while values below 20 indicate oversold conditions. With a value of 39.091, it suggests a neutral signal.
  • MACD(12,26) – The Moving Average Convergence Divergence (MACD) is a trend-following momentum indicator. When the MACD line crosses above the signal line, it generates a bullish signal, and when it crosses below, it generates a bearish signal. With a value of -0.135, it suggests a sell signal.
  • The MOM(10) is at -0.162, indicating a sell signal. This suggests that the market is in a bearish phase.

Thus, the overall technical analysis for Filecoin is Sell. Check out the Crowdwisdom360 Price Indicator (below) which is updated twice every day.

Filecoin Price Prediction Today

GMT: 10 Jun, 2023 12:32 AM
Overall OutlookNeutral
1. Market's WisdomNeutral
1a. Market DataPartially Bullish
1b. Technical RecommendationSell
2. Crowd's WisdomNeutral
2a. Social Media BuzzSteady
2b. Social Media SentimentNeutral

Latest Filecoin Video

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Filecoin Price Prediction (Long-term Analysis)

Filecoin Price Prediction: Is Filecoin a Good Investment?

Filecoin solves the problem of storage by providing access to millions of storage devices (Peer to Peer networks) around the globe. Storage devices could include your personal computer or something more dedicated only to this purpose.

Storage providers earn Filecoins for storing files of other people. The blockchain is used to track and validate these storage-related transactions including whether the providers are storing the files correctly.

In the year 2021, Filecoin had 3600 storage providers. According to the latest Messari report

  • Storage Usage increased from 27 Million Gigabytes in Q3 2021 to 231 Million Gigabytes in Q3 2022
  • Protocol revenue in $FIL rose from 1.39M FIL to 1.77M FIL
  • However, in Dollar terms, revenue was down from $95M to $11M

Filecoin is better than Amazon AWS or Google Cloud in Pricing on Filecoin due to it being an open market for providers.

FIL is the native token of the Filecoin network and it is a deflationary asset i.e., FIL tokens are burnt to pay the network fees. To date, 359,805,544 FIL tokens are in circulation. Following are the two use cases of the FIL tokens:

  • FIL tokens are used for the purpose of paying fees on the Filecoin network.
  • These tokens are used to incentivize the users for ensuring that the data is stored reliably.

Who are the key competitors of FIL apart from traditional cloud storage providers? -Arweave, STORJ, SIA etc.

Here is how Filecoin has performed over the last 5 years

  • 2020: (-56.7%)
  • 2021: +59.1%
  • 2022: (-91.7%)

Filecoin $FIL is currently priced at the same levels as it was in 2019.

It appears FIL is making great strides in terms of solving the consumer problem. However, protocol revenue must grow even faster for FIL to start recovering. The storage market is worth more than $50 B and hence the opportunity for Filecoin remains huge.

Given how much FIL is growing and the target market it is addressing, Filecoin has a bright future. Given the current market liquidity issues, Filecoin will remain under pressure for some time. But in the long run, it appears to be a fit case for investment.

Competitor analysis: Filecoin vs BitTorrent

Filecoin is a decentralized storage system providing an open market for storing various files of users. Here, the users need to pay for storing their files. One of its prominent competitors is BitTorrent, which is one of the oldest decentralized data storage networks. It is a P2P file-sharing and torrent platform.

Filecoin couldn’t outperform BitTorrent for a year, despite the fact that both the cryptos have declined for the last year.

Competitor analysis: Filecoin vs Render token

Render Network aims to revolutionize the process of digital creation by allowing people to share their unused or extra GPU power with people in need of GPU.

The data depicts that both the cryptos have declined by more than 90% since a year and Filecoin, clearly, has not outperformed its competitor i.e, Render token.

Thus, considering all the above factors, FIL is a moderate case for investment.

Will Filecoin reach $100?

To reach $100, Filecoin must grow by 19 times.

Also, FIL reached its all time high price of $192 in April 2021 where it grew by 5.81 times in 6 months (i.e., from a lowest price of $33 in October 2020).

Therefore, considering its 0.97 times growth in one month, we can expect Filecoin to reach $100 in next 19.58 months. However, it might take little longer depending on the market conditions.

Can Filecoin reach $1000?

Filecoin will have to rise by 190 times to reach a price level of $1000.

Considering its 0.97 times growth in one month (as discussed above), we can say that the FIL token will need 195.8 months (more than 16 years) to reach $1000.

YouTube video

Filecoin Price Prediction 2023, 2025 and 2030 (Aggregated)

It is highly likely that the Global economy will recover in 2024 and 2025 driving up liquidity which in turn will help tokens will Filecoin that have a great business model

  • Filecoin Price Prediction 2023 is $5.2
  • Filecoin Price Prediction 2025 is $11.0
  • Filecoin Price Prediction 2030 is $40.2

FIL Price Prediction: FAQs

Will Filecoin go up again?

Yes, given the size of the problem Filecoin is solving and the consistent performance over the last 2 years, there is a good chance that Filecoin will go up again once the Global economy starts to turn the tide. However, it is unclear when that will happen given the uncertainties in Europe and China.

What is so good about Filecoin?

Consumers are already using online storage solutions. So there is demand for the same. Further, numerous customers do not fully utilize their devices and would probably benefit from sharing their storage. Lastly, blockchain works quite well in this use case as there is a need for verification given the size of the network. Therefore, one can argue it is a very good proposition.

Will Filecoin Survive?

Yes, given the business performance in the last 2 years so far as well as the size of the target (storage) market, Filecoin is highly likely to survive.

Can you stake Filecoin?

Yes, you can stake Filecoin with an exchange or on mining protocols like Filet (DYOR)

FIL Price Prediction: How to Buy Filecoin?

Before talking about where to buy Filecoin, you should know how to buy it. Mentioned below are the steps that you need to follow.

Step 1: Compare different crypto exchanges that are offering the services to buy Filecoin. This way, you will be able to find a site that will offer the best features and that too at affordable rates.

Step 2: The next step would be to create your account in the exchange. You need to verify your email address as well as your identity.

Step 3: After the verification is complete, you need to make a deposit using a suitable payment method.

Step 4: Now you are all set to exchange your funds in order to buy Filecoin.

Where to Buy Filecoin?

Most of the premium exchanges these days are offering their services to people who want to buy, sell, and trade Filecoin. Some of the options are mentioned below.

  1. SoFi
  2. Crypto.com
  3. Gemini
  4. Kucoin
  5. Gate.io
  6. Uphold.

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