Internet Computer (ICP) is a new type of blockchain that aims to transform the internet by providing a decentralized alternative to traditional cloud computing. It uses a network of special computing devices called node machines.
These node machines are built to comply with a variety of standards and are installed in independent data centers. The Internet Computer cannot be hosted on cloud computing services. Instead, it runs entirely on a sovereign network of dedicated node machines.
The Internet Computer uses a unique cryptographic technique called chain key crypto. This technique allows the Internet Computer to combine its subnet blockchains into a single blockchain and scale limitlessly.
Internet Computer price witnessed a halt after a short-term rally. The bulls are dominating in the short term and attempting to turn the long-term trend optimistic. The price is up over 45% in a month and 30.29% in the past three months.
ICP had a 24-hour trading volume of $49.2 Million with a drop of 3.52% as compared to the last day. The live market cap of Internet Computer is $2.048 Billion and ranks 36th among the top cryptos. The volume-to-market cap ratio is 2.44% indicating low volatility in the market.
Internet Computer Price Prediction November 2023
The price trend analysis illustrates the formation of an ascending triangle pattern over the daily timeframe. The recent sessions have experienced a bullish surge indicating an optimistic trend in the short term.
Moreover, the long-term trend is still in the control of bears. The bulls are attempting to regain an optimistic trend in the long term.
Currently, the price hovers near the trendline resistance which is a very crucial zone for both the bulls and bears. The breakout above the trendline may signal a reversal and the price may experience a sharp rally. Moreover, the breakdown may indicate the continuation of the bearish trend.
The price prediction for November 2023 showcases a neutral to bullish outlook as the price surpassed the 200-day EMA. The price may consolidate or correct until it is maintained below the trendline resistance.
Internet Computer Price Prediction 2023
The most optimistic price outlook of the analysts expects the price to reach a high of $6.55 by the end of the financial year 2023. The average price target that it may reach is expected at $5.39. Moreover, the pessimistic view of analysts expects a drop to the $3.58 level.
Internet Computer Price Prediction 2024
As per the analysts, the most optimistic target that the Internet Computer price may achieve is $8.94 indicating an upside potential of 95.67% from the CMP. The average analyst price target is $6.28 by the end of 2024. However, the pessimistic view of analysts expects the price to reach $5.55.
Internet Computer Price Prediction 2025
The most optimistic analyst forecast for Internet Computer crypto expects the price to reach a high of $12.40 with a potential gain of 165.72% from the CMP. The minimum forecasted price by the end of 2025 is $8.77. The average predicted price till 2025 is $10.27.
Internet Computer Price Prediction 2026
The ICP price may reach a high of $18.6 if a positive trend prevails for the crypto market. On the flip side, the most pessimistic view of the analysts expects the price to reach $13.69 by 2025.
Internet Computer Price Prediction 2027
According to the analysts’ price prediction for the year 2027, the most optimistic view of analysts estimates the price to reach a high of $23.41. The average analysts’ price target is $19.47 and the minimum price target of analysts is $17.49 by 2027.
Internet Computer Price Prediction 2028
Till the year 2028, the crypto markets may have more exposure and may evolve more. On the most optimistic side, the Internet Computer price may advance to a high of $29.74. The price may rise to a low of $21.01 in case of uncertainties.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.
Source: https://www.thecoinrepublic.com/2023/11/20/internet-computer-price-forecast-2023-to-2028-buy-now-or-wait/