Filecoin Price Prediction
Filecoin is an open-source cryptocurrency intended for digital storage and data retrieval. It’s made by Protocol Labs and builds on top of the InterPlanetary File System, allowing clients to rent unused hard drive space. The coin has massive potential, evident in 2021 as it reached $191.36 at its peak. However, the token has fallen significantly, and we expect Filecoin to range between $17.45 and $45.03 in 2022.
Moreover, Filecoin has received huge backing from institutional investors like Greyscale and IPFS. Due to its high speed, low cost, and uncompromised security, experts predict the coin will explode in the next 5 years. This page covers price forecasts until 2050 and what can impact Filecoin’s price.
Filecoin Price Analysis This Week
Filecoin is an ambitious project that is often in the news due to its potential in Web 3.0 and benefits to crypto users. Below you’ll find some fantastic in-depth Filecoin news sources.
Latest Filecoin Price Predictions by Experts
Filecoin is the biggest data storage cryptocurrency that many believe will crack the top 10 market cap of all coins. Let’s see what experts predict the future of Filecoin will look like.
Trading Beasts forecasts Filecoin will trade at $22.91 by the end of 2022.
Wallet Investor is bullish on Filecoin and forecasts $61.97 during mid-2022.
Digital Coin Price says Filecoin may cross $36.65 in the next 5 years.
GOV Capital claims now is the perfect time to buy because Filecoin will pump to $134.87 in 2022.
Filecoin Price Drop Prediction
Filecoin is unlikely to drop below $15.00 if the same market trends continue. However, if we swing to a bear market, Filecoin could possibly go below $10.00 if key support levels don’t hold. My prediction is that FIL will drop in the short term from $15.00 to $12.50 and gain significant value in the future.
Long-Term Filecoin Forecast
Filecoin has bullish forecasts long term because the cryptocurrency will play a huge role in the development of Web 3.0. As the data storing platform becomes more adopted by companies and people, Filecoin will surge in price as the token gets utilized more.
Monthly Filecoin Price Forecast for 2022/2023
Now let’s discuss the month-to-month forecast for FIL. We predict Filecoin can grow above $40.00 if the right market conditions are met.
What Impacts Filecoin Price?
Filecoin is one of the best-performing Web 3.0 tokens that jumped from $21 to $191 during the 2021 bull run. However, many beginner crypto investors don’t understand what can swing the value of FIL. Let’s dive into the details of why Filecoin price movements occur.
Market Status: Bull runs are where cryptocurrencies gain the most value as more people and institutions invest in coins. Usually, Bitcoin pumps first, and then alt season begins. This is where Filecoin gains the most value as investors move to riskier assets. However, a bear market is terrible for Filecoin as investors pull out their funds and prices drop across the market.
Investments: News of institutions investing in Filecoin increases prices tremendously. For example, Greyscale’s Filecoin Investment Trust announcement skyrocketed FIL prices by 300%.
News: Political and crypto news can affect the whole market positively or negatively. Often announcements that increase crypto taxes are bearish news and swing the market downward. Therefore, keeping up to date with relevant news is key to giving yourself the best odds to beat the market.
Roadmap: A roadmap is an excellent way to see upcoming developments in a cryptocurrency. Some events are essential for the project to succeed and significantly increase the price.
Marketing: Perhaps the biggest factor that impacts prices is advertising. We often see coins with little utility gain huge pumps simply because their marketing team did a fantastic job. Crypto.com is a brilliant example of what expert marketing can do for a coin.
Upcoming Filecoin Events
Filecoin is planning to power the NFT market with Videocoin. The platform has recently announced integrating its decentralized video processing network with Filecoin. It aims to build the first interface uniquely designed for creating and trading video NFTs.
Filecoin Historical Price Changes
Filecoin was a highly volatile coin during its first years of development. Now we can see prices have stabilized, and it’s unlikely we’ll see prices sub $10. Let's take a look at how FIL has performed since its creation.
Filecoin Price Prediction Chart
Filecoin Vs Bitcoin Price Prediction
Filecoin and Bitcoin have different purposes in the modern crypto market. Bitcoin is viewed as internet gold, while Filecoin is a payment method for their cloud storage service. Both coins have a capped supply, which means demand will be high in the future, leading to new all-time highs. However, Bitcoin is far more popular as many regular people and institutions buy into the token. Therefore, we won’t be seeing Filecoin surpass Bitcoin any time soon.
Live Price Chart of Filecoin: USD
Filecoin Price Prediction FAQs
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What is Filecoin?
Best Brokers to Buy Filecoin
The best method to invest in Filecoin is with a cryptocurrency broker because they have high liquidity and competitive fees. We’ve researched the marketplace and found the best crypto brokers for buying FIL. You can learn more about them in the table below:
Other Price Predictions
Filecoin is one of many cryptocurrencies to track. Check out a few other cryptocurrencies to compare before making your investment decision: