Filecoin Price Prediction 2023-2032: What’s the future for FIL?

Filecoin Price Prediction 2023-2032

• Filecoin Price Prediction 2023 – up to $5.66
• Filecoin Price Prediction 2026 – up to $18.28
• Filecoin Price Prediction 2029 – up to $55.37
• Filecoin Price Prediction 2032 – up to $172.97

How much is Filecoin (FIL) worth?

Today’s Filecoin price is $3.76, with a 24-hour trading volume of $101,148,403. Filecoin decreased by 2.34% in the last 24 hours. The current CoinMarketCap ranking is #30, with a market cap of $1,931,939,927. It has a circulating supply of 438,146,575 FIL coins, and the max. supply is not available.

FIL price analysis: FIL faces bearish pressure as it holds momentum above the support line

TL;DR Breakdown

• Resistance for FIL is $4.7
• Support for FIL is at $3.2

FIL price analysis 1-day chart: FIL faces rejection near EMA200

Analyzing the daily price chart of Filecoin, FIL’s price witnessed a slight bearish momentum after trading past EMA100. Over the last 24 hours, FIIL attempted to move past $4.1, but experienced slight bearish pressure. However, the 24-hour volume has increased to $5.67 million, increasing interest in trading today. FIL price is trading at $3.76, decreasing by nearly 2.34% in the last 24 hours.

The RSI-14 trend line currently trades around 71-level, hinting that bulls still control the market. The SMA-14 level suggests upward volatility in the next few hours.

FIL/USD 4-hour price chart: FIL faces bearish pressure EMA200

The 4-hour FIL price chart suggests that FIL faces intense bearish pressure above the EMA200 trend line, after experiencing a bullish momentum in the last few days. Currently, bears are attempting to push the price toward a downward correction but face stiff competition from the bulls.

The BoP indicator trades in a bearish region at -0.15, signifying sellers are trying to trigger a downward correction.

However, the MACD trend line has formed bullish candles above the signal line, and the indicator still maintains its bullish momentum, strengthening the buyers’ positions.

What to expect from Filecoin price analysis next?

The hourly price chart confirms that bulls are inducing buying pressure to hold the price above the support line at $3.2. However, sellers may soon make a comeback. If FIL price holds its momentum above $4.00, it may climb toward $4.7

However, if it fails to maintain momentum, FIL may continue trading below $3.1.

Note: Always watch out for price reactions around each level before executing any trade.

Filecoin recent news

Filecoin’s performance in Q2 2023: Filecoin’s performance in Q2 2023 saw a significant 64% quarter-over-quarter increase in active deals, according to a report by Messari. The introduction of the Filecoin Virtual Machine has also enabled new use cases, further enhancing the platform’s capabilities. This growth in activity and the development of new applications underscore Filecoin’s expanding role in the decentralized storage market.

1/ Curious about @Filecoin’s Q2 2023 performance?

Filecoin’s performance in Q2’23 witnessed a 64% QoQ increase in active deals. Additionally, the Filecoin Virtual Machine enabled new usage cases.@tech_metrics and @JenniferOvat dive into highlights below. 🧵 pic.twitter.com/AgmQKDtmEH

— Messari (@MessariCrypto) July 13, 2023

Filecoin Price Prediction 2023 – 2032

Price Prediction by Cryptopolitan

Filecoin Price Prediction 2023

According to our Filecoin price prediction for 2023, the FIL token is estimated to trade at a minimum price of $4.75 and an average value of $4.95. According to our technical analysis and projection for 2023, Filecoin is expected to trade at a maximum of $5.66 if the market sentiment stays positive.

Filecoin Price Prediction 2024

The Filecoin price prediction for 2024 is a maximum price of $8.33 and an average forecast price of $7.27.The Filecoin Fil price prediction for 2024 is estimated to reach a minimum of $7.07, if the market sentiment remains positive.

Filecoin Price Prediction 2025

The Filecoin price forecast 2025 suggests that the FIL token will trade at a minimum of $10.69 and an average value of $10.98. The highest expected price for Filecoin cryptocurrency in 2025 is predicted to be $12.51.

Filecoin Price Prediction 2026

The Filecoin price prediction for 2026 estimates the price of FIL to range from a minimum of $15.82 to an average price of $16.26 and a maximum price of $18.28 if the market sentiment remains positive.

Filecoin Price Prediction 2027

In 2027, the Filecoin price forecast suggests the cryptocurrency could trade at a minimum of $22.30 and an average price of $22.95. The maximum projected price for FIL tokens in 2027 will be around $27.35, if the market sentiment remains positive.

Filecoin Price Prediction 2028

The Filecoin price forecast for 2028 is a minimum price value of $32.20. The FIL price can reach a maximum price value of $39.10, with an average value of $33.35.

Filecoin Price Prediction 2029

Our Filecoin price forecast for 2029 suggests that the Filecoin cryptocurrency could trade at a minimum price of $47.11 and an average price of $48.45, with a maximum value of up to $55.37 if the market sentiment remains positive.

Filecoin Price Prediction 2030

In 2030, our Filecoin price prediction forecasts that the FIL token will trade at a minimum of $67.29 and an average value of $69.71. If the crypto market remains positive, the highest expected price for Filecoin cryptocurrency in 2030 is around $82.80.

Filecoin Price Prediction 2031

Our Filecoin FIL price forecast for 2031 expects the FIL token to trade at a minimum value of $97.82 and an average trading value of $101.30. Filecoin is estimated to trade at $117.64, the highest price by the end of the year.

Filecoin Price Prediction 2032

In 2032, our Filecoin FIL price prediction says that Filecoin could attain a minimum price of $138.91 and an average price of $142.96, with a maximum forecast of $172.97.

Filecoin Price Prediction by DigitalCoinPrice

According to DigitalCoinPrice, Filecoin is expected to reach $8.87 maximum by 2023, with an average price of $8.25. The minimum price of the coin is expected to be $3.58

DigitalCoinPrice predicts that FIL will continue to rise for the long term, reaching $21.64 by the 2028 maximum. The minimum and average price of the coin is expected to be $19.19 and $20.33.

By 2031, Filecoin is expected to have a maximum price of $57.80, with an average trading price of $56.99. The minimum trading price of the coin is expected to be $55.57.

Furthermore, the coin is expected to reach a maximum price of $78.50, with an average trading price of $77.96 by 2032. The minimum price of the coin is expected to be $75.79 by that time.

Filecoin Price Prediction Wallet Investor

According to Wallet Investor, Filecoin FIL price is expected to reach $0.460 in one year. In five years, the coin is expected to devalue by 98.96%.

Filecoin Price Prediction by Coincodex

According to Coincodex, Filecoin price is expected to reach $2.89 in six months. In one year, they predict that the coin will be $6.86.

Coincodex predicts the future of Filecoin is based on tech growth. They expect the coin to reach $23.43 by 2026, if it follows the internet growth.

If it follows Google’s growth, the FIL coin is expected to reach $50.05 by 2026

Price Prediction by Industry Experts

Despite facing difficult obstacles in the crypto market, FIL has been admired by individual and institutional investors. Discussions and analysis of FIL are still held to this day, making it a popular choice amongst those with high hopes for the coin’s ability to become a significant player in the crypto world.

Ryan Matta, a YouTube analyst, and an industry expert, predicted the coin to move above its all-time high next year and test new resistance levels. He is also bullish on the long-term price of FIL.

Filecoin FIL Price History

Filecoin (FIL) started trading in 2017 December 2017, a short period after conducting its ICO. The trading started long before the Filecoin mainnet was released.

Between December 2017 and May 2020, FIL traded below $30. Then, starting mid-May, the Filecoin price started rising, and the bull trend continued until 01st April 2021, when it hit its highest price of $237.24.

Filecoin price history and market cap chart by Coin Market Cap

After hitting its all-time high in mid-May 2021, Filecoin took a bearish turn, which continued until mid-July when the market turned bullish again. It is important to note that the Filecoin price remained above its beginning price even during the past bearish trend.

More on the Filecoin Network

Filecoin is the blockchain project that incentivizes regular people to rent out their digital storage space – solving the issue of scarcity, and addressing the power imbalance between individuals and global server behemoths, in one fell swoop.

Amid the current rebound by most cryptocurrencies like Ethereum Classic, Filecoin (FIL) has become an attractive investment opportunity for most investors, especially since its current price is affordable. Let’s shine a light through crypto winter with this Filecoin Price Prediction.

We have produced several other cryptocurrency price predictions, including Cardano price prediction to help investors and traders understand the cryptocurrency market outlook, and here is a price forecast of Filecoin to help traders, as well as investors looking to buy it. Background information will also help you to understand what to expect in future Filecoin price movements.

Filecoin has 33 investors including Leon Hillmann and Lombard Street Ventures.

Here is Juan Benet’s plan for FIL

What is Filecoin (FIL)?

FIL cryptocurrency is the native cryptocurrency of the Filecoin blockchain. Filecoin (FIL) facilitates data storage, on-exchange token trading, and file retrieval within the Filecoin blockchain ecosystem. Filecoin does not have a total maximum supply since miners actively add new coins into the market every time.

For example, in the fall of 2020, 3.5 million FIL tokens were released to the Filecoin miners who participated in the so-called “Space Race” testnet phase that intended to increase the capacity of data handled by the Filecoin network by about 325 pebibytes.

What is the Filecoin blockchain?

Filecoin blockchain is an open-source distributed cloud (off-site) storage platform where participants can store important information. The project was first conceptualized in 2014 as a peer-to-peer file storage network, an Interplanetary File System (IPFS)

The project’s main net was launched in October 2020 after conducting an Initial Coin Offering that raised $205 million in 2017. The Filecoin blockchain records information sent to it by its participants, and the records can be retrieved in the future but cannot be erased since they become part of the blockchain network.

The blockchain uses the proof-of-spacetime and the proof-of-replication consensus mechanism in validating new blocks. The proof-of-replication helps ensure that the same data is not replicated in the network, while the proof-of-spacetime allows information storage for a given amount of time.

Filecoin mining

The Filecoin ecosystem has two types of miners; retrieval miners and storage miners.

• The retrieval miner nodes in the Filecoin blockchain network compete to serve users (clients) with any requested data as quickly as possible. In a nutshell, they retrieve the stored information and avail it to any person who demands to view the data.

• In exchange for retrieving the stored information, the retrieval miners are rewarded with FIL coins as fees. This reward encourages more nodes to want to participate in the mining.

• On the other hand, the storage miners provide storage space to users for up to a specific time. Therefore, they are in constant competition for land contracts to offer storage to people needing storage space.

• Once a storage miner strikes a deal with a user to offer storage space, the miner holds the client’s data and seals it. In exchange for providing clients with storage space for their information, the storage miners are rewarded with FIL fees.

• The storage miners are the ones responsible for mining new Filecoin blocks. And they, in return, earn block rewards for mining the new blocks.

How does the Filecoin network work?

Unlike centralized cloud storage solutions like Cloudflare or Amazon (companies with central command centers), Filecoin offers decentralized cloud storage. Therefore, data or information stored in the Filecoin blockchain is more easily retrievable and, at the same time, hard to censor.

By being decentralized, Filecoin allows participants to be the custodians of their data, and it is easily accessible to anyone who can access the internet throughout the world.

Who is Filecoin’s founder?

The Filecoin network was founded by Juan Benet, an American computer scientist responsible for creating the Interplanetary File System (IPFS). Benet is also the founder of Protocol Labs, which he founded in 2014.

How to buy Filecoin

Filecoin is available to buy on Binance, Coinbase, Huobi Global, and many more reputable exchanges. Also, most exchanges let you swap between cryptocurrencies free of charge, making it easy to trade cryptocurrencies quickly.

• Create an account with your chosen exchange. You’ll need to enter your email and create a password. You should also set up 2-factor authentication to improve your account’s security. Depending on where you live, you may need to complete identity verification before you can begin trading crypto. Some information to have ready includes your Social Security number, driver’s license, and home address.

• Buy a wallet (optional). No matter which trading platform you choose, you shouldn’t store your crypto on an exchange. Cryptocurrency exchanges hold custody of their investors’ funds, making them large targets for cryptocurrency hackers. Many cryptocurrency trading platforms have been hacked in the past, presenting a real risk to crypto investors.

When you want to sell your Filecoin, you’ll need to send your coins from your cryptocurrency wallet to your exchange of choice. As long as your bank account is connected to your crypto exchange, you’ll be able to transfer your funds to and from your bank as you choose.

Where to Store Filecoin

Here are some wallets with FIL support that you might consider:

Source: Filecoin

Conclusion

Based on our price pred provided, it is clear that there needs to be a consensus regarding price predictions for Filecoin (FIL). Several factors, such as project updates, technological advancements, legal status, and the cryptocurrency ecosystem, will impact its future performance. We recommend conducting your research before investing in this token (DYOR).

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