Internet Computer Protocol (ICP) has been staying relatively stable in the longer timeframe; however, the daily price actions have been marked with high volatility. In the past twenty-four hours, ICP coin peaked at $38 while the cryptocurrency is standing at $36 – the low of the twenty-four hours. The downward trend appears to continue ahead and ICP may establish a lower daily low as the day progresses.
The market outlook for cryptocurrency is bearish. Out of the total twenty-two technical indicators, eleven are standing at a position of sell with ten indicators giving out a neutral position only one indicator bullish with a buy signal. The oscillators are neutral while the moving averages suggest a strong downtrend.
Internet Computer price prediction
The ICP has taken a hit ever since the hyped down for the cryptocurrency; however, the long-term projections for the cryptocurrency are bullish. According to the estimates of Digital Coin Price, ICP is going to end the year with a price level of $55.51 while reaching higher over the years towards $157 by 2028. But not all projections are bullish. Wallet Investor projects a bleak future prospect and predicts the cryptocurrency to fall below $1.
Can ICP disrupt the crypto space?
The Internet Computer Protocol created a hype that stands unparalleled when it launched. Although the hype died down soon and users started raising concerns about the decentralization and security of the network, the offering of ICP still is very much appealing for a lot of investors.
The Internet Computer Protocol aims to create a decentralized computer which will completely eliminate the need for centralized services like hosting services, servers etc. With ICP, developers and firms can manage softwares without the need of centralized services. The network is also designed to have total interoperability which will allow the computer to operate more like an Internet of Things.