ICP Price Prediction 2023-2030: Will ICP Reach $10,000?

The Current Price of the ICP coin is

ICP Performance in the Last 12 Months

  • Last 5 Days: –9.43%, Underperformed
  • Last 1 Month: -22.06%, Underperformed
  • Last 6 Months: -1.30%, Underperformed
  • Last 12 Months: -36.25%, Underperformed

*Vs Ethereum

ICP Latest News, June 7th

  • HelixMarkets, a DEX on the Internet Computer (IC), won the “Rising Star” award at the CVC Conference, showcasing the platform’s potential in the decentralized finance (DeFi) space.
  • The number of canister smart contracts on the IC has grown rapidly, reaching 300K, demonstrating the increasing adoption and usage of the platform.
  • The Internet Computer utilizes Proof of Useful Work (PoUW), a unique consensus mechanism that addresses the challenges faced by Proof of Stake (PoS) and Proof of Work (PoW) blockchains. PoUW relies on dedicated hardware known as “node machines” to produce the blockchain, ensuring efficient and secure operations.
  • The IC has improved its developer documentation, offering a unified format and style guide to enhance community contributions and elevate the developer experience. Additionally, a local testing solution for SNS launches was introduced, enabling developers to test their applications on their laptops before deploying on the mainnet.

ICP Technical Analysis (June 7th)

  • The moving averages indicate a strong sell sentiment for the asset. Simple moving averages range from 4.54 to 5.29, and exponential moving averages range from 4.49 to 5.39. The consistent decline in price suggests a bearish trend for the asset.
  • The relative strength index (RSI) for the given asset is at 31.092, which is below the 50 threshold and indicates a sell condition. Here RSI suggests that the asset is oversold, implying a potential downward pressure on its price.
  • The stochastic oscillator for the given asset has a value of 50.880, indicating a neutral stance. In this case, the neutral value suggests a balance between buying and selling pressures.
  • The stochastic RSI (STOCHRSI) for the given asset is at 14.721, which is in the oversold region. The oversold reading suggests that the asset is likely to be undervalued, potentially indicating a buying opportunity.
  • The moving average convergence divergence (MACD) for the given asset is -0.240, indicating a sell signal. The negative value suggests a bearish trend and signals a potential selling opportunity.
  • The average true range (ATR) for the given asset is 0.2026, indicating lower volatility. The lower ATR suggests reduced price fluctuations, which can be interpreted as a stabilization of the asset’s price movement.

The overall technical analysis point towards a bearish trend and suggests strong sell sentiment.

ICP Price Prediction Today

GMT: 10 Jun, 2023 12:45 AM
Overall OutlookNeutral
1. Market's WisdomNeutral
1a. Market DataNeutral
1b. Technical RecommendationNeutral
2. Crowd's WisdomNeutral
2a. Social Media BuzzSteady
2b. Social Media SentimentNeutral

ICP Price Prediction: Is ICP Coin a Good Investment?

The Internet Computer (IC) is a decentralized blockchain that aims to replace the current centralized Internet infrastructure. It aims to address the limitations associated with the traditional internet, such as

  • Monopolization of services
  • Poor system security, and
  • Misuse of personal data

The network connects a sovereign network of dedicated devices to form a “world computer” that enables the decentralization of Web3 services. It has a hierarchical network structure made up of independent data centers hosting nodes, subnets, and software canisters, which are smart contracts that scale. The platform uses chain key technology for fast transaction processing and has a consensus mechanism based on Proof-of-Stake. It is designed to run decentralized applications, be cost-effective, provide high throughput and low latency, and be scalable.

ICP runs on a decentralized network with dedicated hardware established by independent parties rather than a cloud maintained by centralized data servers. The blockchain processes transactions quickly, setting it apart from other cryptocurrencies that may take 30 minutes or more to complete transactions. Developers build services on the Internet Computer using smart contract software called “canisters” that interact with the web and other blockchains without bridges. Canisters are able to scale and run with an efficiency comparable to traditional IT.

Key features

  • ICP aims to create a decentralized internet that allows for secure and efficient computation, storage, and communication on a global scale.
  • It introduces the concept of canisters, which are secure and scalable smart contracts. Canisters enable developers to build and deploy applications directly on the internet without relying on traditional hosting infrastructure.
  • The protocol is designed to provide high-performance web applications with near-instantaneous response times.
  • It leverages blockchain technology to ensure security, transparency, and verifiability.
  • ICP has its native utility token used for various purposes within the protocol. It serves as a means of exchange, incentivizes participation, and supports network governance.
  • One of the core objectives of ICP is to provide a scalable and efficient compute capacity that can handle internet-scale applications and services. It aims to eliminate the limitations of traditional centralized infrastructure.
  • ICP is designed to be compatible with existing web standards, making it easier to integrate with the existing internet infrastructure. It allows developers to leverage their existing knowledge and tools while building decentralized applications.

The Main use cases of the ICP coin are –

  • Users can pay for the computation resources using ICP tokens.
  • Users can stake their ICP coins and in return, can earn rewards.
  • ICP coins can be staked in the Network Nervous System DAO that controls the Internet Computer blockchain to create voting neuron
  • ICP coins can be used to pay the gas fees on the network.
  • Users can invest in the decentralization sales via Web3 services using ICP coins.

DeFi TVL is $314k. Not Ranked

Overall, ICP coin is a Moderate case for Investment.

BitTorrent Price Prediction

ICP Price Prediction $1000

The current market price of the ICP coin is $5.71 and it requires to grow by nearly 175 times to reach a price level of $1000.

Also, its price was at its highest when it was launched and the price is decreasing since then. However, from June 2021 to September 2021, it has shown a growth of 2.58 times (from a price level of $30.39 to $78.38). Thus, it grew by nearly 0.85 times in one month.

Hence, to reach a price level of $1000, the ICP coin needs at least 205 months (slightly more than 17 years).

Furthermore, it also depends on the market’s economic conditions at that time; hence, it might need even more time than calculated.

ICP Price Prediction: Will ICP Reach $10,000?

Considering that reaching $1000 is not much feasible for the ICP coin, reaching $10,000 becomes even more difficult. Let us also analyze this mathematically.

To reach $10,000, the ICP coin needs to grow by 1,751 times, considering its current market price of $5.71.

Thus, it can grow by 0.85 times in a month, ICP coin certainly needs a minimum of 2,059 months or 171 years, which is not at all practical.

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ICP Price Prediction 2023, 2025 and 2030

  • ICP Price Prediction 2023 is $10.3
  • ICP Price Prediction 2025 is $18.6
  • ICP Price Prediction 2030 is $83.2

ICP Token Economics Report for 2022

The following attached is the annualized Inflation Rate of ICP (for all the months in 2022) and it says that the inflation rate for ICP coin was varying because NNS participants were converting their rewards from maturity to ICP.

image 464

The below-attached chart depicts the month-wise minted ICP coin ( including spawned, merged and node rewards ICP).

image 465

Note that the neuron holders get their governance reward in the form of maturity and they can convert that into ICP and hence, accumulated maturity can also be considered as delayed inflation.

The below-attached chart depicts the maturity accumulation for the past year (month-wise).

image 466

Where Can I Buy ICP Tokens?

. Here are the general steps to buy ICP tokens:

  • Choose a cryptocurrency exchange that supports ICP tokens (as listed below).
  • Create an account on the exchange by providing your personal information and completing the verification process.
  • Deposit funds into your exchange account using a bank transfer, credit/debit card, or other supported payment methods.
  • Search for ICP tokens on the exchange and select the trading pair you want to use, such as ICP/USD or ICP/BTC.
  • Place a buy order for the amount of ICP tokens you want to purchase at the current market price or your desired price.
  • Wait for the transaction to be confirmed, and the ICP tokens will be deposited into your exchange wallet.

ICP tokens can be purchased from various centralized crypto exchanges, including:

  • Binance
  • Kraken
  • KuCoin
  • Coinbase Exchange
  • OKX
  • Bybit
  • Bitfinex
  • Huobi
  • Gate.io

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.

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