ICP Price Prediction: Is Internet Protocol Going Past $50?
- ICP: A Quick Overview
- ICP: Working Module And Roadmap
- Ethereum Vs ICP
- ICP Price Prediction: Price History
- ICP Price Prediction: Technical Analysis
- ICP Price Prediction By Blockchain Reporter
- Internet Computer Price Prediction 2024
- Internet Computer Price Prediction 2025
- ICP Price Forecast for 2026
- Internet Computer (ICP) Price Prediction 2027
- Internet Computer Price Prediction 2028
- Internet Computer Price Prediction 2029
- Internet Computer (ICP) Price Prediction 2030
- Internet Computer Price Forecast 2031
- Internet Computer (ICP) Price Prediction 2032
- Internet Computer Price Prediction 2033
- ICP Price Prediction: By Experts
- Is ICP A Good Investment? When To Buy?
- Conclusion
The world of decentralized finance (DeFi) has been quite eventful lately, with many new projects emerging to establish their presence in the market. One such project is Internet Computer (ICP), which aims to enable the development of innovative decentralized applications (dApps) for the public. This has helped Internet Computer gain traction in the industry, thanks to its blockchain-based system that allows for fast and efficient smart contract execution and data storage. Additionally, it simplifies the process of implementing and storing information, while providing flexible software architectures for developers in the Internet Computer community. Recently, the value of Internet Computer’s native cryptocurrency, ICP, saw an increase in value after it was announced that it would integrate with Bitcoin (BTC). This news came at a time when ICP had experienced some setbacks, such as being labeled as an unregistered security by the United States Securities and Exchange Commission earlier in the year.
Internet Computer Protocol is a blockchain network designed to enhance efficiency, speed, and decentralization in computation and data storage. It aims to address issues commonly associated with the traditional Internet, such as centralized services, weak security systems, and misuse of personal data. The network’s native token, ICP, is used for governance, compensating nodes that perform computations, and rewarding participants in the ecosystem.
If you’ve been considering investing in Internet Computer but missed out on its recent price surge, you might be wondering about its future prospects. In this article, we’ll explore ICP price prediction with in-depth technical analysis of the ICP token to understand its future market potential.
ICP: A Quick Overview
In simple terms, blockchain is all about decentralization, which means spreading power out instead of keeping it in one place. It’s a nice idea, even though it’s not always perfectly achieved. Basically, it’s about giving people more control over their money, instead of letting big banks have all the power.
And this idea goes beyond just money. Huge companies like Google, Facebook, and Amazon have a ton of control over what we do online and what they know about us.
Computer scientist Dominic Williams, the visionary behind the DFINITY Foundation, introduced Internet Computer in 2016. The mission: to forge a decentralized internet, safeguarding privacy, thwarting centralization, and countering misinformation. This vision materialized through the Internet Computer Protocol, establishing a blockchain tailored to this purpose.
Internet Computer boasts its own native cryptocurrency, ICP, symbolizing the quest for a decentralized digital landscape.
ICP: Working Module And Roadmap
The Internet Computer blockchain operates using a network of specialized machines called “node machines,” similar to how the internet relies on routers. These machines, managed by independent providers globally, connect over the Internet using the Internet Computer Protocol (ICP). Together, they form the Internet Computer blockchain, functioning as a global computing platform.
One unique feature is “chain key cryptography,” enabling the creation of public “chain keys” for secure message signing. Unlike traditional blockchains, this method requires less data for verification.
The network comprises multiple “subnet blockchains,” independent yet interconnected to boost capacity. These subnets operate with a novel consensus and cryptographic system, allowing secure interactions without requiring a local node. The master subnet blockchain, governed by the Network Nervous System (NNS) DAO, controls the network’s structure, ensuring authenticity through constant chain key signatures.
Applications interact with the network using the NNS subnet’s chain key, facilitating communication across subnets. “Canister” smart contracts, hosted on the Internet Computer, validate content using chain key signatures. These contracts, powered by WebAssembly bytecode, support parallel execution and diverse functionalities, such as multi-block transactions and periodic invocations.
Additionally, the protocol extends chain key cryptography to enable smart contracts to manage accounts and sign transactions on external blockchains like Bitcoin and Ethereum. This capability opens avenues for decentralized finance (DeFi) systems and enhanced web experiences on various networks.
Ethereum Vs ICP
While often dubbed as the “Ethereum Killer,” the ICP team prefers the term “Ethereum Savior.” Their goal isn’t to supplant existing blockchains but rather enhance them, aiming for increased speed, reduced costs, and greater environmental friendliness to ensure sustainability.
Let’s compare the Internet Computer to Ethereum across several factors:
Transaction Speed and Cost: On Ethereum, transaction costs include gas fees paid to miners, which can vary based on network congestion. Confirmation times average around 15 seconds but can extend during peak traffic. In contrast, Internet Computer transactions are nearly instant and cost only a fraction of a cent, making it a promising contender for a top cryptocurrency.
On-Chain Storage Cost: As businesses increasingly adopt blockchain for data storage, the Internet Computer offers a more economical solution through its use of ICP canisters. Storing 1 gigabyte of data on Ethereum for a year costs roughly $240,000,000, whereas on the Internet Computer, it’s approximately $5 annually.
Smart Contracts: Canisters, the Internet Computer’s version of smart contracts, are versatile and limitless, enabling innovative applications and decentralized solutions. They’re more efficient and cost-effective than traditional smart contracts used on Ethereum. Additionally, while Ethereum users pay for deploying and using smart contracts, the Internet Computer operates on a “reverse gas model,” where only developers cover application costs.
Staking Rewards: The Internet Computer offers substantial staking rewards, ranging from 15.4% to 28.9% annually, making it an attractive option for investors.
These are just some of the significant distinctions between the Internet Computer and Ethereum.
ICP Price Prediction: Price History
Now, let’s take a look at the price history of the Internet Computer. While past performance doesn’t guarantee future results, understanding its journey can offer valuable context for predicting or interpreting its price movements.
When ICP debuted on the market in May 2021, it quickly gained attention, reaching an all-time high of $750.73 on its launch day, May 10.
However, various factors, including a downturn in the market sentiment, led to a significant drop in its value. By June 10, it had plummeted to about $75. This downward trend continued, with its price sinking to around $30 in August. While there was a brief uptick to $84.75 on September 6, it later declined, closing the year at slightly over $25.
Unfortunately, 2022 proved to be even more challenging for ICP. Multiple market crashes left the cryptocurrency struggling, dipping below $10 in May and falling below $5 the following month.
Though there was a recovery to nearly $9 in August, the collapse of the FTX exchange drove its value below $4 in November. By the end of the year, ICP was priced at $3.93, marking an 85% decrease year-on-year.
However, there was a slight resurgence in the new year, with the price briefly surpassing $7 in February. Despite some fluctuations over the following months, the trend turned downward from April onwards. By June 12, it had dropped to $3.58. Although there was a partial recovery to $4.55 on July 3, the price slumped again.
On September 22, it hit $2.86 before rebounding to $4.91 on November 13. Breaking past $5 on December 4, it peaked at $11.79 on December 16, its highest in over 18 months. By December 18, it settled around $9.30.
The cryptocurrency then rallied to close the year at $13.32, marking an annual price increase of nearly 240%. On March 28, 2024, it was valued at $17.81. In the first week of April, ICP price skyrocketed following Bitcoin’s surge and touched the $20 mark. However, it later declined in the following days and consolidated between $10-$15.
ICP Price Prediction: Technical Analysis
ICP’s price continues to decline, approaching a crucial support level at $11. Market participants are likely to actively support this price point.
ICP/USDT Chart On TradingView
Should the price rebound from $11 with noticeable strength, it will indicate significant purchasing interest at lower price levels. This rebound could send the ICP/USDT pair toward the 20-day EMA, which currently stands at $13.2. However, a downward turn from the 20-day EMA could lead to a potential drop below $10.
On the other hand, a break above the 20-day EMA could signal that the pair might maintain its trading range between $15 and $19 for some time. A decisive movement will likely occur if the price either rises above $14 or falls below $10.
ICP Price Prediction By Blockchain Reporter
| Year | Minimum ($) | Average ($) | Maximum ($) |
| 2024 | 17.21 | 17.74 | 19.98 |
| 2025 | 25.14 | 26.03 | 29.68 |
| 2026 | 35.79 | 37.09 | 44.54 |
| 2027 | 50.86 | 52.35 | 62.73 |
| 2028 | 74.93 | 77.55 | 89.29 |
| 2029 | 109.88 | 113.76 | 126.81 |
| 2030 | 153.28 | 158.97 | 189.58 |
| 2031 | 229.86 | 237.8 | 269.51 |
| 2032 | 333.65 | 345.54 | 402.68 |
| 2033 | 475.1 | 492.38 | 577.57 |
Internet Computer Price Prediction 2024
According to the forecast price and technical analysis, in 2024 the price of Internet Computer is predicted to reach a minimum level of $17.21. The ICP price can reach a maximum level of $19.98 with an average trading price of $17.74.
| Month | Minimum ($) | Average ($) | Maximum ($) |
| January | $17.21 | $17.74 | $18.07 |
| February | $17.26 | $17.77 | $18.15 |
| March | $17.31 | $17.80 | $18.23 |
| April | $17.36 | $17.83 | $18.31 |
| May | $17.41 | $17.86 | $18.39 |
| June | $17.46 | $17.89 | $18.47 |
| July | $17.51 | $17.92 | $18.55 |
| August | $17.56 | $17.95 | $18.63 |
| September | $17.61 | $17.98 | $18.71 |
| October | $17.66 | $18.01 | $18.79 |
| November | $17.71 | $18.04 | $18.87 |
| December | $17.76 | $18.07 | $18.95 |
Internet Computer Price Prediction 2025
The forecast for Internet Computer price in 2025 suggests it may reach a minimum possible level of $25.14. It could also attain a maximum possible level of $29.68 with an average forecast price of $26.03.
| Month | Minimum ($) | Average ($) | Maximum ($) |
| January | $25.14 | $26.03 | $27.06 |
| February | $25.29 | $26.13 | $27.29 |
| March | $25.44 | $26.23 | $27.52 |
| April | $25.59 | $26.33 | $27.75 |
| May | $25.74 | $26.43 | $27.98 |
| June | $25.89 | $26.53 | $28.21 |
| July | $26.04 | $26.63 | $28.44 |
| August | $26.19 | $26.73 | $28.67 |
| September | $26.34 | $26.83 | $28.90 |
| October | $26.49 | $26.93 | $29.13 |
| November | $26.64 | $27.03 | $29.36 |
| December | $26.79 | $27.13 | $29.59 |
ICP Price Forecast for 2026
In 2026, the price of Internet Computer is predicted to hit a minimum level of $35.79. It may also reach a maximum level of $44.54 with an average price of $37.09 throughout the year.
| Month | Minimum ($) | Average ($) | Maximum ($) |
| January | $35.79 | $37.09 | $38.36 |
| February | $36.18 | $37.32 | $38.96 |
| March | $36.57 | $37.55 | $39.56 |
| April | $36.96 | $37.78 | $40.16 |
| May | $37.35 | $38.01 | $40.76 |
| June | $37.74 | $38.24 | $41.36 |
| July | $38.13 | $38.47 | $41.96 |
| August | $38.52 | $38.70 | $42.56 |
| September | $38.91 | $38.93 | $43.16 |
| October | $39.30 | $39.16 | $43.76 |
| November | $39.69 | $39.39 | $44.16 |
| December | $40.08 | $39.62 | $44.56 |
Internet Computer (ICP) Price Prediction 2027
The price of Internet Computer in 2027 is anticipated to achieve a minimum value of $50.86. It could also soar to a maximum value of $62.73 with an average trading price of $52.35.
| Month | Minimum ($) | Average ($) | Maximum ($) |
| January | $50.86 | $52.35 | $54.15 |
| February | $51.38 | $52.68 | $54.90 |
| March | $51.90 | $53.01 | $55.65 |
| April | $52.42 | $53.34 | $56.40 |
| May | $52.94 | $53.67 | $57.15 |
| June | $53.46 | $54.00 | $57.90 |
| July | $53.98 | $54.33 | $58.65 |
| August | $54.50 | $54.66 | $59.40 |
| September | $55.02 | $54.99 | $60.15 |
| October | $55.54 | $55.32 | $60.90 |
| November | $56.06 | $55.65 | $61.65 |
| December | $56.58 | $55.98 | $62.40 |
Internet Computer Price Prediction 2028
By 2028, the price of 1 Internet Computer is expected to reach a minimum level of $74.93. The ICP price might surge to a maximum level of $89.29 with an average price of $77.55 throughout the year.
| Month | Minimum ($) | Average ($) | Maximum ($) |
| January | $74.93 | $77.55 | $80.14 |
| February | $75.66 | $77.90 | $80.96 |
| March | $76.39 | $78.25 | $81.78 |
| April | $77.12 | $78.60 | $82.60 |
| May | $77.85 | $78.95 | $83.42 |
| June | $78.58 | $79.30 | $84.24 |
| July | $79.31 | $79.65 | $85.06 |
| August | $80.04 | $80.00 | $85.88 |
| September | $80.77 | $80.35 | $86.70 |
| October | $81.50 | $80.70 | $87.52 |
| November | $82.23 | $81.05 | $88.34 |
| December | $82.96 | $81.40 | $89.16 |
Internet Computer Price Prediction 2029
In 2029, the price of Internet Computer is forecasted to hit a minimum value of $109.88. It could also reach a maximum value of $126.81 with an average value of $113.76.
| Month | Minimum ($) | Average ($) | Maximum ($) |
| January | $109.88 | $113.76 | $118.21 |
| February | $110.95 | $114.23 | $119.14 |
| March | $112.02 | $114.70 | $120.07 |
| April | $113.09 | $115.17 | $121.00 |
| May | $114.16 | $115.64 | $121.93 |
| June | $115.23 | $116.11 | $122.86 |
| July | $116.30 | $116.58 | $123.79 |
| August | $117.37 | $117.05 | $124.72 |
| September | $118.44 | $117.52 | $125.65 |
| October | $119.51 | $117.99 | $126.58 |
| November | $120.58 | $118.46 | $127.51 |
| December | $121.65 | $118.93 | $128.44 |
Internet Computer (ICP) Price Prediction 2030
The price of Internet Computer is anticipated to reach a minimum value of $153.28 in 2030. It could also achieve a maximum value of $189.58 with an average trading price of $158.97 throughout the year.
| Month | Minimum ($) | Average ($) | Maximum ($) |
| January | $153.28 | $158.97 | $164.28 |
| February | $154.68 | $159.76 | $165.64 |
| March | $156.08 | $160.55 | $167.00 |
| April | $157.48 | $161.34 | $168.36 |
| May | $158.88 | $162.13 | $169.72 |
| June | $160.28 | $162.92 | $171.08 |
| July | $161.68 | $163.71 | $172.44 |
| August | $163.08 | $164.50 | $173.80 |
| September | $164.48 | $165.29 | $175.16 |
| October | $165.88 | $166.08 | $176.52 |
| November | $167.28 | $166.87 | $177.88 |
| December | $168.68 | $167.66 | $179.24 |
Internet Computer Price Forecast 2031
Deep technical analysis on past price data of ICP suggests that in 2031, the price of Internet Computer is forecasted to be around a minimum value of $229.86. It might also attain a maximum value of $269.51 with an average trading value of $237.80.
| Month | Minimum ($) | Average ($) | Maximum ($) |
| January | $229.86 | $237.80 | $246.43 |
| February | $231.81 | $239.17 | $248.38 |
| March | $233.76 | $240.54 | $250.33 |
| April | $235.71 | $241.91 | $252.28 |
| May | $237.66 | $243.28 | $254.23 |
| June | $239.61 | $244.65 | $256.18 |
| July | $241.56 | $246.02 | $258.13 |
| August | $243.51 | $247.39 | $260.08 |
| September | $245.46 | $248.76 | $262.03 |
| October | $247.41 | $250.13 | $263.98 |
| November | $249.36 | $251.50 | $265.93 |
| December | $251.31 | $252.87 | $267.88 |
Internet Computer (ICP) Price Prediction 2032
The prediction for 2032 indicates that the price of Internet Computer could reach a minimum level of $333.65. It may also reach a maximum level of $402.68 with an average trading price of $345.54.
| Month | Minimum ($) | Average ($) | Maximum ($) |
| January | $333.65 | $345.54 | $357.42 |
| February | $336.52 | $347.88 | $360.22 |
| March | $339.39 | $350.22 | $363.02 |
| April | $342.26 | $352.56 | $365.82 |
| May | $345.13 | $354.90 | $368.62 |
| June | $348.00 | $357.24 | $371.42 |
| July | $350.87 | $359.58 | $374.22 |
| August | $353.74 | $361.92 | $377.02 |
| September | $356.61 | $364.26 | $379.82 |
| October | $359.48 | $366.60 | $382.62 |
| November | $362.35 | $368.94 | $385.42 |
| December | $365.22 | $371.28 | $388.22 |
Internet Computer Price Prediction 2033
In 2033, the price of Internet Computer is forecasted to hit a minimum possible level of $475.10. It could also reach a maximum possible level of $577.57 with an average forecast price of $492.38.
| Month | Minimum ($) | Average ($) | Maximum ($) |
| January | $475.10 | $492.38 | $509.66 |
| February | $478.85 | $495.56 | $512.26 |
| March | $482.60 | $498.74 | $514.86 |
| April | $486.35 | $501.92 | $517.46 |
| May | $490.10 | $505.10 | $520.06 |
| June | $493.85 | $508.28 | $522.66 |
| July | $497.60 | $511.46 | $525.26 |
| August | $501.35 | $514.64 | $527.86 |
| September | $505.10 | $517.82 | $530.46 |
| October | $508.85 | $521.00 | $533.06 |
| November | $512.60 | $524.18 | $535.66 |
| December | $516.35 | $527.36 | $538.26 |
ICP Price Prediction: By Experts
According to Coincodex’s current Internet Computer price prediction, the price of Internet Computer is forecasted to increase by 221.68% and reach $41.38 by May 30, 2024. Coincodex’s technical indicators suggest a bearish sentiment, while the Fear & Greed Index stands at 67 (Greed). Internet Computer has seen 12 out of 30 (40%) green days with a 13.40% price volatility over the last 30 days.
Considering the forecast, it’s deemed unfavorable to buy Internet Computer at this time. Looking at the historical price movements of Internet Computer and BTC halving cycles, the projected yearly low for Internet Computer in 2025 is estimated at $12.86. Additionally, Coincodex predicts that the price of Internet Computer could potentially reach as high as $59.45 next.
According to Digital Coin Price’s predictions, by 2026, market analysts and experts anticipate that ICP will commence the year at $37.75 and maintain trading around $46.43. They assert that this forecasted increase would be notably high compared to the previous year, representing a significant jump in Internet Computer’s value.
The estimated minimum price for Internet Computer is projected to reach $176.08 by 2032. Throughout 2032, with an average trading price of $182.82, Internet Computer’s value could potentially reach $183.46 at its peak. Specialists anticipate that the maximum price will hover around $182.82.
Is ICP A Good Investment? When To Buy?
With the imminent launch of Ethereum integration, enabling seamless use of ETH and ERC-20 tokens within the Internet Computer protocol, there’s an optimistic outlook for the foreseeable future as the protocol’s utility expands. The native integration transforms Internet Computer into a multi-chain protocol without reliance on vulnerable bridges for asset porting, providing a significant advantage and bolstering its future prospects.
While the Internet Computer Protocol’s ambition is lofty, its potential success could revolutionize both the internet and blockchain landscapes, fundamentally reshaping how we engage with and safeguard our online presence and assets. Ongoing network updates are strategically aimed at realizing this vision, leveraging the DFINITY Foundation’s established track record in developing and implementing upgrades.
Conclusion
Recent advancements have sent Internet Computer into the spotlight, showcasing its innovative integration of a proof-of-useful-work system that merges blockchain with the internet. Its ability to maintain high throughput while meeting public expectations is commendable.
Yet, uncertainties linger regarding its execution and global adoption. Thus, the crucial question arises: does this utility and functionality make Internet Computer one of the best cryptos to buy in 2024?
