This Filecoin price prediction shows that the opinion of respected crypto experts and technical-based analysis combined predict that the long-term forecast of Filecoin and its native token of FIL has the potential to reach anywhere up to and over $300 per token between now and the year 2025. To avoid missing out on potential upcoming price surges in the cryptocurrency market, check out our easy-to-follow article on how to buy FIL.
“a decentralized storage network for humanity’s most important information.”– Filecoin
Table of Contents
News about Filecoin
- Surpassing 7 million NFTs in storage, the ‘pace is only accelerating’ for Filecoin
- Filecoin (FIL) Mainnet Celebrates Its First Anniversary, Price Stands At $62
In this day and age, the internet rules many aspects of our lives. Each day, an almost infinite amount of data moves across servers. However, the exchange of information relies on the data presented. If the source of said data is not genuine or it isn’t stored correctly, a crisis could ensue.
Thus the presence of a network with trustworthy security and storage capabilities is vital. Filecoin understood this and defined itself as a network that blends blockchain and decentralized finance to benefit its users by creating a marketplace for unused storage.
The main aim of Filecoin is data storage and retrieval on the blockchain. It has brought countless benefits and advantages to its users, meaning the value of Filecoin and its native currency of FIL has a very promising price outlook for the future. Naturally, this has caused an increase of new investors to the platform.
But are you wondering if it’s too late to start investing in Filecoin? You’re not alone, many people are curious about whether investing in Filecoin now is a good idea. I was one of those people until I began to use a range of factors to research the future price of Filecoin such as:
- Price history
- The latest legislation
- Prediction strategies
- Expert analysis
- New investors
By analyzing all of these factors, I was able to find out that there’s never a bad time to invest in Filecoin. For example, statistics from the leading trading platform of eToro tell us that sales have skyrocketed in the past few months, demonstrating that demand for this coin is very high.
But what does the future hold for investors who get on board now? Will it rise even further? Our Filecoin price prediction aims to answer all. But first, let’s start with just what Filecoin is and how it works.
What is Filecoin?
Filecoin was created back in 2017 by Protocol Labs. The latter is led by a computer scientist and accomplished engineer named Juan Benet.
Put simply, it is a decentralized protocol that enables users to rent out spare or unused storage space on their computers. Similarly, people can also purchase said storage on the network.
By doing so, Filecoin creates an enormous source of data storage. As the world becomes increasingly computerized, it may fulfill a vital role in satisfying the demand for online storage. Its decentralized benefits also make it even more beneficial.
Filecoin users are allowed to earn fairly passive income by renting out storage space that would otherwise remain stagnant. It also has numerous advantages over centralized competitors like Dropbox who offer a similar service.
Whilst competitors like Dropbox have faced major hacks in recent years, Filecoin’s decentralized nature makes it extremely difficult to be compromised.
In 2020, Filecoin launched its mainnet that saw the platform’s storage boom in size and surpass 2.5 billion gigabytes. That’s more than enough space to hold over 10,000 copies of Wikipedia!
Pros and cons of Filecoin
Like any decentralized project, Filecoin has its fair share of incredible pros and limiting cons. We always aim for transparency in our articles. So in this section, we’re going to cover some of the most important pros and cons of Filecoin and its native token of FIL.
|✔️ Its decentralized nature means Filecoin is extremely difficult to hack.
|❌ Slight lack of interest from major investors for now.
|✔️ Positive price history shows a promising outlook for the future.
|✔️ Potential for users to earn an income from unused storage space on their computers.
Do you still have questions about Filecoin? Rest assured, before we get into the price prediction, next we’ll cover some frequently asked questions about Filecoin to give you a better understanding of the original digital asset and its price potential.
Who uses Filecoin?
Filecoin is used by crypto users seeking a more trustworthy, reliable, and decentralized form of file storage on the blockchain. Similarly, it is used by investors looking to speculate on the sometimes lucrative price of FIL.
How does Filecoin gain value?
Like most cryptocurrencies, the value of Filecoin is largely driven by speculation in its current state. As more people discover the wide range of its uses, its value grows. Due to its innovative nature and continuous growth of significant partnerships, support for Filecoin is only expected to grow as cryptocurrencies become a more widely accepted alternative to fiat currencies. When it does, the value will likely grow in sync.
Can Filecoin reach $100 per token?
Based on its recent price surges and innovative nature of being a platform with a growing userbase, it’s possible that Filecoin could reach $100 per token in the long term. Many experts believe it could potentially surpass that number.
Where do people buy, sell, and trade Filecoin (FIL)?
You can buy, sell, and trade Filecoin from various crypto trading platforms. If you are a new investor, then we suggest using a brokerage like eToro to buy crypto. It’s safe, regulated, and beginner-friendly. The eToro interface is very simple to use, and it has an array of trading tools to allow you to trade safely.
Filecoin Price History
As with any crypto price prediction, one of the most important ways we can analyze the future is to look deep into the price history of a particular cryptocurrency. First launched in 2017, Filecoin is no exception.
In 2017, a mere half an hour after the initial launch, Filecoin successfully managed to raise over $200 million. Marking the start of a fruitful journey ahead for this innovative blockchain asset.
At the start of January 2018, FIL had hit its first ATH when it surged to $10.30. However, this was unsustainable and the price soon began to drop. By November of 2018, it was sitting at around $09.20.
The price largely stagnated until 2019 when patient investors were rewarded with fruitful gains when the price of FIL surged to $19.35. But this was only the beginning and Filecoin has seen significant boosts that have seen the price surge to new highs of over $150 per token and a market cap of $10,671,544,438.
Expert analysis of the Filecoin price potential
One of the best tools we can use to try and determine the potential future price of Filecoin is to analyze the opinions of various crypto experts. Let’s delve into three estimated growth outlooks for various industry experts and analysts.
WalletInvestor uses an algorithm-based forecast in an attempt to predict the future price of cryptocurrencies. When it comes to Filecoin, they are also bullish. Over the short term, WalletInvestor predicts that the price of Filecoin could reach somewhere around $111 by the end of the year, and around $309 by the year 2025.
DigitalCoinPrice is fairly bullish on its Filecoin outlook and expects the price to gradually increase over the long term. DigitalCoinPrice predicts it to reach $95.85 by the end of 2021, $130.78 by the end of 2023, and finally, a figure of $186.08 by 2025.
Another rather bullish expert analysis on EOS is LongForecast. They predict the price of AAVE in 2021 to potentially reach up to $63.35 by the end of the year. By the end of 2023, they expect it to reach $106.67, and $163.33 by the year 2025.
So from over $100 in the short term and up to $306 in the long term, the overall expert analysis on the future price of Filecoin is overwhelmingly bullish with some potentially lucrative returns in store for investors. But what does the technical analysis tell us about the price potential of this innovative digital asset?
Technical analysis of the Filecoin price potential
Now we move on to technical analysis to try and predict the future price of Filecoin. This section will utilize powerful tools like the Japanese candlestick, chart patterns, and trading indicators. As well as giving traders the upper hand in day trading, they can enable us to discover long-term price predictions based on pure technicals when we assess longer time frames.
Filecoin Price Prediction 2021 – 2022
Since the beginning of 2021, the price of Filecoin skyrocketed by 247% from $17.72 to its current price of $61.53. It’s predicted that the Filecoin price will rise an additional 3% in the second half of 2021 and it’s then expected to close the year at $63.35. A year-to-year change of +258%.
Filecoin Price Prediction 2022 – 2023
After starting the year at $63.35, it’s predicted that the price of Filecoin will rise to $73.11 per coin in the first half of 2022, it’s then expected to gain $5.17 and finish the year at $78.28, which is a +2% gain on the current price.
Filecoin Price Prediction 2023 – 2024
After starting 2023 at $78.28, Filecoin is expected to rise to a figure of $90.40 midway through the year before going on the rise again and ending the year at $106.67 at an overall annual increase of 73% from the current price.
Filecoin Price Prediction 2024 – 2025
After starting 2024 at $106.67, Filecoin is expected to rise to $122.67 halfway through the year. The second half of 2024 is expected to see the price of Filecoin end the year at an even higher price than the first half of 2024 at $138.44. That’s an overall annual increase of 125% on the current price.
In summary, from increased security and incredible amounts of memory to allowing users to earn relatively passive income through hiring out their unused computer storage, Filecoin has an abundance of real-world usage that has seen its price skyrocket in recent years.
It can play a potentially vital role in the future of online data storage in a secure way and has secured a huge number of new investors, some of whom are very significant. So overall, the future looks bright for Filecoin and its native token of FIL.
Whilst many people can see the significant potential in Filecoin, there is a significant number of people who are wondering where to invest in this innovative investment for the long term. The answer lies in a reputable and well-established trading exchange with access to vital trading tools like eToro.
Where to buy Filecoin?
When it comes to investing in cryptocurrency, major exchanges are better reserved for the more experienced trader. For beginners, it’s recommended to use a trusted brokerage like eToro. This is a well-established, highly regulated, and secure platform that has the potential to revolutionize your crypto trading.
What’s more, is that eToro allows you to access their incredible array of trading tools such as the Stop Loss, Take Profit, and built-in charting software that all let you maximize your potential profits whilst ensuring safe trading practices that protect your hard-earned funds. Also, eToro offers Leverage Trading on crypto. This allows you to multiply small amounts to become large powerful positions that drive massive profits.
Overall, the financial situation, risk tolerance, and investment strategy of each person vary. Cryptocurrency is inherently volatile and the price can rise or drop at a moment’s notice, this brings advantages as it does risks. Both of which are important to understand and weigh against your own investment goals and needs. Only invest money you can afford to lose and balance out the risky nature of crypto investment by building a diversified portfolio.
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Disclaimer – This content is for informational purposes only and is not investment advice. The trading of Filecoin (FIL) and other alternative cryptocurrencies has potential rewards, and it also has potential risks involved. Trading may not be suitable for all people. Anyone wishing to invest should seek his or her own independent financial or professional advice.