In this article, we will analyze different scenarios to develop internet computer price predictions for the next years. The ICP coin was launched in May 2021 and the ICP price immediately went crazy due to its Coinbase and Binance listing. On the day of trading, the ICP price traded above $400 while some exchanges even reported an all-time high above $700. However, the initial pump was unsustainable and the price crashed along with the rest of the crypto market in the same month. Currently, the price of Internet computers is trading at $19.86.
What is an Internet computer and how does it work?
As its name suggests, Internet Computer aims to become a decentralized world computer based on the Internet. Unlike Ethereum whose ambition is to become the application layer of the internet, Internet Computer aims to replace the entire internet. This makes the project one of the most ambitious crypto projects.
The Internet computer works by establishing a series of data centers around the world. Each data center consists of multiple nodes while the nodes of multiple data centers are grouped into subnets. All subnets act as proof of stake blockchains with a new consensus mechanism known as Threshold Relay. Instead of conventional smart contract functionality, Internet Computer claims to have cartridges that look like smart contracts on steroids. The project has its own programming language called Motoko for creating next-generation distributed applications over the network.
Founder of Internet Computer
Internet Computer is the brainchild of veteran computer scientist Domini Williams, who conceptualized it after hearing about Ethereum. Although the project was in development before 2016, the first funding round took place in 2017. During this public funding round, the company raised $4.1 million in exchange for approximately 25% of the equity. total supply of ICP. Around 500 investors, mostly from the Ethereum community, joined this round and their allocations were vested over 4 years. The Internet Computer price is currently trading at $19.86.
The team conducted a private round in 2018 and sold 7% of the total supply at $0.63 per ICP token. Approximately $20.5 million was raised in this round. Investors at a second private sale later that same year had to pay $4.5 per ICP coin. In this way, the project raised a total of $100 million in the second round by selling nearly 5% of ICP’s total supply.
Latest ICP news and roadmap
As of January 2021, Founder of Internet Computing Dominique Williams announced the project’s roadmap via a medium-long post. This could be called the longest roadmap of any crypto project to date. The Dfinity Foundation aims to spread adoption and double its team of experts within 4 years. Dominic seems to be quite convinced that the Internet computer will become a viable alternative to the traditional Internet within 10 years. He also believes the project could potentially replace the current internet within the next 20 years. These ambitious and forward-looking statements from the founder, if realized, could send the price of the Internet computer into the stratosphere. It might also give us a better idea of ICP’s price predictions.
Internet Computer Price Prediction 2022
The ICP price is currently more than 90% below its all-time high. The internet computer’s price peaked at $400 to $800 on various exchanges on its listing date. As of this writing, the price of ICP coins is trading at $19.86. The chart shows the price hovering inside a falling wedge after hitting a high of $87 in September 2021. The price made new lows of $18.06 on the 22ndn/a January 2022, but bounced off the low of the falling wedge.
Since the falling wedge is a bullish pattern, we can easily envision a higher high in the ICP price. Therefore, our 2022 internet computer price prediction also looks slightly bullish. If the ICP price can break out of the downtrend, then our 2022 ICP price prediction will be $60-$80 by the end of the year. $80 is only possible if the price holds above the key short-term $60 0.618 Fibonacci retracement level and the upside continues.
ICP Price Table
Internet Computer Price Prediction 2025
Native Internet Computer ICP coin is already 36and largest cryptocurrency by market capitalization. It has a huge market cap of over $4 billion, which is far more than its current adoption stats. This huge market capitalization makes any distant upward price target very difficult for the ICP price. Nevertheless, considering the bullish and bearish scenarios, we can analyze our internet computer price prediction 2025.
If the network gains popularity among users while developing key protocols on its network, then the price could increase significantly. In such a bullish scenario, $130 could be a valid ICP price prediction for 2025. However, this would mean a market capitalization of $30 billion which could only be justified by much wider global adoption. Likewise, if the project fails and the global macroeconomic situation deteriorates, the price of ICP could drop to a few dollars.
Internet Computer Price Prediction 2030
If the internet computer really becomes a viable alternative to the modern internet by 2030, then holders could really make a fortune. For that to happen, ICP would need to overthrow Ethereum and become the largest decentralized smart contract platform. Putting ICP at the current market cap of Ethereum, i.e. $347 billion, gives us an ICP price prediction of $1722. However, this mind-boggling internet computer price prediction is based on forward-looking statements by Dominic Williams. Although these statements sound more like a dream than an ambition, it is up to the community to decide how much the project is worth in the future.
Is ICP a good investment?
Before asking yourself “Is ICP a good investment?” you must be clear about your investment objectives. If you are looking for a quick profit, the ICP price could easily double in 2022 from the current price level. However, a different approach is needed for a long-term investment perspective. If one wants to invest in Internet Computer for the long term, many better entry points should arrive in the next few years. This is due to the fact that its market capitalization is already much higher than that of platforms with much more user adoption.