Internet Computer Price Prediction

As Internet Computer price (ICP) navigates through volatile market dynamics, its trajectory has been marked by noteworthy shifts. Following its peak on Binance in mid-2021, ICP underwent a substantial downturn, plummeting to 99% below its all-time high (ATH). The present scenario intrigues prospective investors, mainly as ICP is trading at a historically low level. This article will delve into the comprehensive analysis of ICP’s historical price movements, shedding light on the factors contributing to its significant decline. Looking ahead, it aims to provide a glimpse into the future potential of ICP until the year 2030, gathering insights from expert analysts to offer a nuanced perspective on what lies ahead for this cryptocurrency. 

Recent market data indicates a modest upturn, with ICP showing a weekly increase of 11.85%, currently priced at $3,29. With the total circulating supply of 445,447,712 ICP and market cap token of $1,457,003,016 as of writing this article consideration, a holistic assessment of ICP’s current standing is presented, with an eye on its projected resurgence to potentially reach $9.5 by 2024. 

For investors contemplating jumping into the crypto landscape, understanding the nuanced dynamics of ICP’s past, present, and potential future could be crucial in making informed decisions in the ever-evolving digital world. 

ICP Overview

What is ICP? 

The Internet Computer Protocol aims to improve the Internet’s existing architecture. While traditional blockchain projects like Ethereum focus on creating a “world computer” for dApps, ICP sets its sights on a broader horizon. As the world’s first blockchain technologies that run at web speed and serve content on the web with unbounded capacity, ICP allows users to participate in and govern the Internet Computer blockchain network. It seeks to create an environment where dApps are scalable and straightforward to build, deploy, and manage. ICP achieves this through ‘canister’ smart contracts, a next-gen evolution of the traditional smart contract architecture. 

It aims to decentralise the entire Internet by offering a scalable, secure, and less restrictive alternative to the current Internet infrastructure. Therefore, it can potentially disrupt the digital world to make it more accessible, innovative, and monopolies dismantled. 

Think of Big Tech entities like Google and Facebook that dominate the centralised nature of the Internet. Now, this platform wants to tackle the issue mentioned, making it one of the top cryptocurrencies to watch for developers and investors.

How does it work? (100)

ICP blockchain allows different mini-blockchains (subnets) to cooperate uniquely. These subnets talk to each other securely using chain key cryptography. This setup will enable developers to build complicated apps (dApps) easily.

Consequently, developers don’t need to worry about complex network setups and focus entirely on their coding, boosting innovation while creating apps. Also, it is ultimately secure for users and allows apps to incorporate fluently, offering a better and cost-effective experience. 

Technical framework (100)

• Global Network: Administered by a distributed array of autonomous data centres across the globe, ICP assures scalability and redundancy. These centres host nodes that power the Internet Computer, enabling it to manage extensive data and computations. 
• Chain-Key Technology: This engine forms the core of ICP’s innovation. It facilitates rapid transaction processing and ensures the authentication of artefacts across diverse devices. Hence, this design enhances the overall security of the ecosystem.
• Autonomous Software: ICP provides an environment conducive to crafting autonomous software without backups and firewalls. This aligns with its goal to cut the cost and complexity of IT services. 

Objectives

• Decentralise the Internet: ICP seeks to dismantle the monopolies of Big Tech companies over the Internet. Its platform intends to create a decentralised alternative to host data, execute computations, and manage user interactions.
• Innovation: By providing a less restrictive platform, ICP aims to lower the risk, allowing developers to introduce new products and services to the market more efficiently and faster. 
• Expand Functionality: Unlike conventional blockchains, which serve as immutable ledgers, ICP’s vision is to host backend software and databases directly on the Internet.  

ICP Price History

Monitoring broader market trends is crucial to help investors understand ICP’s future direction. ICP token debuted on Binance in mid-2021 and quickly ascended post-listing. Now let’s have a look at its main points and events.

• Initial Spike & ATH in 2021: ICP underwent a steep spike rise after its launch, reaching a market cap of $35.8 billion, hitting an all-time high of over $750 on May 11, 2021. The initial hype was short-lived, and the price started to commit a downtrend. 
• A Bearish 2022: Throughout 2022, the token faced a persistent bearish cycle, evident from Exponential Moving Averages (EMAs) that prioritise recent prices for quicker reactions to market changes compared to Simple Moving Averages (SMAs). The token witnessed a significant plunge from $23.5 to nearly $6 in May 2022 and settled around $3.9 by the year’s end, reinforcing the prevailing bearish sentiment.
• Falling Wedge & All-time Low 2023: Although 2023 started with an upward trajectory, a broader market downturn led to a falling wedge pattern on the daily chart, often signalling a potential trend reversal. This pattern emerged as ICP hit its all-time low on August 22, 2023. 
• $3.4 Support and Near-term Pullback: A critical $3.4 support level recently initiated a pullback, with buyers entering the scene to mitigate the downward price movement. A breach below this level could confirm a more pronounced bearish trend. 

ICP Price Prediction 2023 

Drawing insights from current market analyses and trends, the latter part 2023 holds varying prospects for ICP, contingent upon multiple factors. The potential for an upswing exists if buyers capitalise on the opportunity a falling wedge breakout presents. 

However, the coin’s recent pivot, where $4 support turned into resistance, could pose a potential challenge to the coin’s price recovery.

A decisive rebound from the $3.4 support level could catalyse an upward trajectory. Potential buyers may wait for the price to close above the 20/50 EMA to enhance certainty before determining their following actions. If this occurs, they may aim to retest the $4.8 resistance level. 

Despite these factors, the Crypto Fear and the Greed Index stay in the “Fear” zone, indicating hesitancy to invest. Additionally, a dip below the $3.4 support threshold could amplify losses for ICP. As per the Internet Computer coin price prediction, ICP’s year-end price could fluctuate between a low of $2.7 and a high of $6.8.

Below is a quick month-on-month ICT price forecast for the rest of 2023. 

ICP Price Prediction 2024 (250)

Several contributors come into play in assessing the prospects for the ICP token for 2024. 

To have a concrete view of the Internet Computer future price in 2024, consider these key drivers below. 

• Direct Bitcoin Integration: A Game-Changer – One of the most significant developments is the ICP protocol’s integration with Bitcoin. This pivotal integration enables smart contracts on the Internet Computer to seamlessly engage with Bitcoin, eliminating the reliance on third-party bridges. Particularly significant for Decentralised Financial (DeFi) projects tethered to Bitcoin, this integration establishes a revolutionary, secure, and trustless foundation. 
• In-house Upgrades: Tuning Performance – With the successful integration of Bitcoin, the team behind the Internet Computer has shifted their focus towards in-house upgrades. This strategic move aims to fine-tune the platform’s performance with a keen eye on enhancing its DeFi offerings. These internal improvements are to make the platform more appealing to potential customers. 
• Attracting More Users – The direct integration and the ongoing system upgrades make the Internet Computer a more desirable platform for DeFi applications. Simplifying complex processes becomes a key attraction for users, and the Internet Computer strives to fulfil this need by enabling DeFi apps to manage and transact with Bitcoin and other cryptocurrencies securely. This evolution addresses current market needs and anticipates the growing demand for seamless integration within the crypto community. 

With that ICP technical analysis, ICP could see a price of $9.5 by the end of 2024.  

ICP Price Prediction 2025 (250)

The crypto market’s health can impact ICP’s price in the coming years. A bullish or bearish market can respectively drive the price up and down. To gain insight into the potential factors influencing ICP’s price by 2025, let’s explore some key considerations:

• State Manager Efficiency: An upcoming planned update focuses on refining I/O handling within the State Manager, akin to fine-tuning a car’s engine for optimal performance. This strategic enhancement is crucial for improving the interaction between ICP’s platform and computer storage. The platform can manage multiple tasks simultaneously without compromising speed by expediting and streamlining this interaction. This is critical for scalability, meaning the platform can grow and support more users and applications.
• Chain-key Tokens: Introducing ckERC-20 tokens, analogous to “guest stars” from Ethereum’s renowned platform, adds a compelling dimension to ICP’s ecosystem. Notably, well-established stablecoins like USDC and USDT are magnets for investors and traders. By embracing these Ethereum-based tokens, ICP simplifies the onboarding process for users familiar with Ethereum, fostering cross-chain compatibility. This move could attract a more extensive user base, potentially increasing demand and, consequently, the token’s price. 

Given these factors, projections for ICP’s price in 2025 are optimistic, as the token could reach $14 by 2025’s close. Nonetheless, a lot would depend on how many users use the network.  

ICP Price Prediction 2030 

In 2022, the global blockchain market was valued at $11.14 billion. Fast forward to 2030, and experts anticipate an astonishing surge to $469.49 billion, reflecting an estimated Compound Annual Growth Rate (CAGR) of nearly 60% during this period. Capitalising on this substantial growth potential, ICP strategically enhances its utility features to attract a more extensive user base.

A significant milestone for ICP is the anticipated achievement of “Direct Ethereum Integration.” This innovation feature facilitates seamless communication between smart contracts on ICP and Ethereum’s blockchain, eliminating the need for intermediaries. This breakthrough not only streamlines the execution of smart contracts but also improves efficiency and security. 

Additionally, the Internet Computer will support Ethereum’s programming environment (EVM), allowing it to execute Solidity-based smart contracts.

Another feature that could attract everyday users to ICP is “Virtual People Parties.” Imagine an online get-together where users confirm they are real people, not bots or fake accounts. Retailers would like this idea because they get extra benefits in dApps and have a more secure and fair experience online. 

Considering all these points and the ICP price analysis, ICP could continue to attract more users and reach $37 by 2030. 

What Do Other Analysts Predict For ICP?

When you look at expert views, remember that these are educated conjectures based on ICP’s past performance and not guaranteed outcomes. 

While the experts generally agree on ICP’s potential for growth, it’s crucial to remember that the crypto market is inherently volatile and unpredictable. 

Digital Coin Price anticipates a modest but consistent growth for ICP:

• For 2023, the minimum, average, and maximum prices are estimated to be $3.08, $7.10, and $7.54, respectively.
• The year 2024 could see prices ranging between $7.36 and $8.78, averaging at $8.64.
• The trend continues upward, with 2030 projections suggesting a minimum price of $33.52, an average of $35.34, and a maximum of $35.98.

CoinCodex offers a more variable perspective:

• Their 2023 prediction ranges from $3.44 to $6.94, indicating a potential 102.13% growth if it hits the upper target.
• By 2024, they project a price range from $3.44 to a high of $27.00, suggesting a possible 685.82% increase.
• For 2030, their upper price target is $24.10, which would represent a 601.58% gain.

Telegaon takes a more bullish stance:

• In 2023, they predict a minimum of $6.13, an average of $9.63, and a maximum of $12.29.
• For 2024, their numbers climb to $12.95 at the low end, $13.02 on average, and $14.17 at the high end.
• The 2030 forecast is optimistic, with a low of $59.18, an average of $67.34, and a maximum of $75.41.

PricePrediction.net also shares an optimistic view:

• For 2023, they have forecasted a range from $4.70 to $5.35.
• The projection for 2024 moves to between $7.08 and $8.25.
• Their long-term 2030 forecast predicts a range from $66.46 to $81.89.

FAQs

Can ICP reach $100? 

As per our ICP price prediction today, the price of ICP will not reach $100 until 2030. However, the crypto markets can be volatile, and a change in any circumstances can impact these projections. 

Is ICP a good investment? 

The potential for development of ICP makes it an attractive investment. However, market uncertainty requires investors to track broader market trends, prioritising analysis over speculation closely.