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Tag: ICP

  • Internet Computer (ICP)  – Still Struggling to become Bullish

    The Internet Computer (ICP) is a programmable blockchain made up of several computers spread over a network of different data centers. DFINITY, a Swiss non-profit company, is behind the initiative, which aims to reconstruct the internet as a decentralized platform. Why? A major percentage of the internet is presently under the hands of a few digital behemoths, such as Amazon, Alphabet, and Microsoft. That implies these firms have access to and control over a massive amount of user data, as well as the ability to restrict information housed on their infrastructure.

    The Internet Computer, on the other hand, enables developers to run smart contracts on a decentralized network of computers, and those smart contracts may power a variety of technologies such as cloud services, corporate software, social platforms, and websites. Because those products operate independently of anyone corporate body, user data is private, and content can never be controlled.

    The Internet Computer, in particular, is quick. In a recent test, the network was clocked at 11,500 transactions per second (TPS), with those transactions completed in less than two seconds. Of course, blockchains such as Solana have higher capacity (50,000 TPS). But the Internet Computer allows users to store data for a fraction of the cost of Solana. Also, the transaction costs on the network are substantially lower than on most other blockchains.

    The Internet Computer, in a nutshell, is a highly scalable platform with a decentralized architecture. That value offer is certain to pique the interest of developers, but, as with standard cloud infrastructure services, those developers will have to pay to utilize the platform. They use the ICP token to pay for computer resources used by their goods. In other words, as the Internet Computer grows in popularity, so will demand the ICP token, driving up its price.

    Internet Computer Roadmap

    According to ICP’s 2022 plan, the Bitcoin integration will be available as part of Dfinity’s ‘Chromium Satoshi Release’ in Q1 2022. This upgrade will feature the integration of smart contracts to the Bitcoin blockchain. This will be done through the use of ‘Chain Key cryptography,’ which eliminates the requirement for a bridge.

    Bridging can expose the network to hostile actors, thus this will strive to make it safer.

    Price Movement – Internet Computer (ICP)

    Since September 6, the ICP has been declining. It recently hit a new all-time low of $18 on January 22nd. This resulted in a breakdown from the horizontal support area of $28.50. Despite the gain, the rising trend has not been sustained, as ICP is now back below the $28 mark. The trend cannot be declared bullish until this level is regained.

  • Internet Computer (ICP) – What is the Chart showing us

    The native token of Internet Computer is ICP. Just like many other coins ICP also depends on the movement of BTC.

    At the time of writing, ICP is being traded at the rate of $31.70 with an increase of almost 16% within the last 24 hours.

    The low within this tenure was around $27.23 and the high was approximately $31.70. The coin as being in the watchlist of many traders makes it rank all the way up to number 30th according to the latest data released by coin market cap. It is one of the top gainers today.

    ICP during the month of May approached its new All-time High around the price of $2,831. It was a fast wick upwards but soon, the price retraced back. The trading volume today on the other hand has also increased by almost 132%.

    The top exchanges for trading ICP are currently Binance, OKEx, Huobi Global.

    Technical Analysis –  Internet Computer (ICP)

    As shown in our analysis which you can find here, the ICP has shown the same movement as predicted. ICP is up to the level that had been shown. Now overall the price is bullish but we can expect a few setbacks during the tagging of the final target.

    ICP - 1D

    The first reason for the price to go up was the presence of imbalance above. Now the price has broken structure and we can see that it has created a higher high. The price of ICP has tagged the imbalance zone and we can expect a reaction from the price at this point. If the price stabilizes itself here we can look for another higher high. If it doesn’t we can expect a drop in the price of ICP. Right now we can expect the creation of a higher low. As the imbalance has also been mitigated and a new zone has also been created.

    Price Prediction – Internet Computer

    ICP has been one of the slow gainers in the market. According to wallet investor, the price of ICP is to reach a value of $1.736 in a year. For five year plan, wallet investors think that the price is to reach a value of $0.341. This means that the coin is considered a bad investment. Traders on the other hand are quite bullish on the movement and think that soon it would soon be trading above $100.

  • Internet Computer (ICP) – Where can the Price Go?

    Internet Computer (ICP) – Where can the Price Go?

    The native token of Internet Computer Network is ICP. The coin has had its downfall in the past but it looks like it is ready to go for a higher leg now.

    During the writing of this article, ICP is being traded at the rate of $24.25 with a decrease of almost 8% within the last 24 hours.

    Today the price had a low value of $23.88 and a high was approximately $26.30. The coin as being in the watchlist of many traders makes it rank all the way up to number 36th according to the latest data released by coin market cap.

    ICP made its all-time high in the month of May 2021 where it reached an enormous amount of $2,831. At the moment it has a daily volume of $212,989,689 with an increase of almost 100% within the last 24 hours. The circulating supply of ICP is now around 475M. ICP has a dominance of 0.21%.

    The top exchanges for trading the coinare currently Binance, Coinbase.

    Technical Analysis –  Internet Computer (ICP)

    ICP had been one of the slow gainers and hasn’t been able to recover the price. The price has broken structure and is dropping down. It was triggered by a red wick down. After this, the price went down to a downside correction.

    The price at this point doesn’t have any reason to drop down even more down. Now we can expect the price to go up and do a retest from where we can look for a possible long. The price of ICP can go up and touch the break of structure point. The price at that point is $38.

    ICP -1D

    We are currently in the discount pricing from where can look for a possible entry. Lower time frame confirmations should be taken into consideration before taking an entry to have a clean point.

    Price Prediction – Internet Computer (ICP)

    According to digital coin price, the price of ICP is to reach a value of $41.99 in a year. For a five-year plan, the price will reach a value of $105. But the investors are even more bullish on the value and they think that it will reach even more. Internet Computer has been growing its network and is bringing new partnerships to the network. It can be said that ICP would definitely provide good returns in the future.

     

  • ICP coin price prediction –A possible revival?

    ICP coin price prediction –A possible revival?

    ICP coin – also known as Internet Computer Protocol – is regarded to have disruptive technology. The network is aiming to disrupt the centralized cloud computing on which cryptocurrencies rely for their decentralization. If successful, ICP also possess the potential to be a revolutionizing technology in the crypto space.

    ICP has a blockbuster entrance in the crypto market with its price touching $1,000 if not more, on some exchanges. However, the cryptocurrency fell flat on its face from its journey towards the moon right after the launch hype died down. But is it making a comeback now?

    In the daily timeframe, ICP crypto has started off on a bullish uptrend. At the time of writing, ICP coin stands at a price level of $46.64. The price has increased by 5% in the past twenty-four hours while the weekly increase is 45% – making it one of the best performers of the week. The daily trading volume has observed a decline of 15% while the market rank continues at twentieth.

    Internet Computer Protocol – ICP price prediction

    The market outlook for the cryptocurrency has turned bullish. Out of the total twenty-six technical indicators, eleven are giving out a signal of buy with nine standing at a neutral position and only two indications of sell.

    Internet Computer Protocol
    Internet Computer Protocol

    A trader’s analysis identifies the formation of a bearish butterfly pattern by the price movements of ICP coin. Although the harmonic pattern is bearish in the long term, it suggests a price increase in the short to a medium-term timeframe. The price level of $50 lying at the 0.786 Fibonacci Retracement level is the next price target for ICP coin. Other major resistance levels/price targets lie at $81, $111, $129, $223 and finally $344. The 0.61 Fibonacci level at $39 has been registered as strong support.

    The estimates of Digital Coin Price also suggest a rise of ICP to $71.81 by the end of 2021 and a subsequent climb towards $203 by 2028. This shows the market sentiment for ICP still remains uncertain – where some projections show the cryptocurrency to be bullish in the short run, others regard it to be bullish in the long run.

  • Internet Computer Protocol (ICP) Coin – Bullish or bearish in the long-term?

    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.

  • Internet Computer Protocol (ICP) coin – Bearish price predictions

    Internet Computer Protocol (ICP) coin – Bearish price predictions

    Internet Computer Protocol (ICP) was once hyped up to unimaginable levels; however, as the initial hype died down, the cryptocurrency suffered immensely. Where ICP was once trading at above $500, the price is now in double figures only. At the time of writing, ICP stands at a price of $42. The price of the cryptocurrency has declined by more than 10% in the past twenty-four hours while the trading volume has declined by 40%.

    Internet Computer Protocol (ICP) technical analysis

    The market sentiment for ICP is bearish. Out of the total twenty-six technical indicators, eleven are standing at a sell position with nine giving out a neutral indication and only two indication of buy. The oscillators are neutral while the moving averages suggest a strong downtrend.

    Internet Computer Protocol (ICP) technical analysis
    Internet Computer Protocol (ICP) technical analysis

    ICP crypto has been identified to be forming a head and shoulder formation. The cryptocurrency has broken down from the neckline of the bearish formation which validates the analysis. The bearish H&S formation indicates the dominance of the bears in the market. The upcoming price movements may further validate the analysis as ICP coin moves downwards. The cryptocurrency may be expected to stabilize at the supporting region lying at the price level of $34. Bullish momentum can make a a comeback if the cryptocurrency stabilizes in the region.

    ICP price prediction

    The price predictions for the cryptocurrency are mixed. There is still debate about the discovery phase of ICP. Wallet Investor’s estimates are bearish on ICP coin even in the long-term. It estimates that ICP will fall to $3.47 in a year’s time. On the other hand, Digital Coin Price is optimistic about the price of ICP. Per their estimates, ICP crypto will be valued at $65 by the end of the year and at $185 by 2028.

  • Dfinity Foundation addresses concerns regarding decentralization of ICP

    Dfinity Foundation addresses concerns regarding decentralization of ICP

    Dfinity Foundation – the organization behind Internet Computer Protocol – has decided to calm the critics of ICP with a “Ask Me Anything” thread of Reddit. The foundation had been facing a lot of criticism concerning the privacy and decentralization of its Internet Computer Protocol. The team aimed to assure the community that decentralization is a major part of their vision and it will not be compromised at any cost.

    The Internet Computer Protocol aims to build the next generation of the internet by leveraging blockchain technology. The newer internet will comprise of data centers, nodes, and users coordinated through the network Nervous System (NNS). The ICP landed itself in the top ten ranked cryptocurrencies days after its launch which was considered remarkable. However, the initial hype soon died down as more and more users dived deep into the network. Problems with the Network Nervous System arose. The NNS has the controlling power which has led to users to contemplate about the voting rights and decentralization of the NNS.

    Dfinity Foundation’s head of product, Diego Prats, has clarified that the Foundation do not have any control of the Internet Computer Protocol and it is decentralized. Prats also addressed other concerns regarding the use of singular Internet Identity. Many other members of the core team have also been actively countering critics. Time will tell whether or not ICP succeeds in what it claims to do.

    Dfinity Foundation has also launched a $223 million fund for the development of Internet Computer Protocol. Applications are open for the “Developer Ecosystem Program”. Previously, another fund called Beacon Fund had also been launched but that was aimed at developers who are creating open internet services on the ICP network.

  • $223million fund announced for Internet Computer protocol

    Dfinity Foundation, the organization behind ICP, has announced a fund worth $223 million for the development of the network. The non-profit organization is now accepting applications for the grant. The new “Developer Ecosystem Program” is operating separately from the $14.5 million Beacon Fund aimed at developers who are creating open internet services on the network.

    The Internet Computer Protocol’s aim is to revolutionize the internet. The network has an ambitious goal to replace the whole internet one day with a decentralized platform that has smart contracts capabilities.

    Internet Computer Protocol (ICP) right after launching brought in a storm with itself. In just a few days after its launch, ICP token went to as high as $4000 on some exchanges. Moreover, the cryptocurrency launched on major cryptocurrency exchanges at the same time – which was seen as an unprecedented move. The Internet Computer Protocol was believed to be the next innovation in the blockchain right after bitcoin and Ethereum. Suffice it to say, it garnered a huge amount of attention in a very short time span. The cryptocurrency was also able to reach the top ten largest cryptocurrencies list which sent another round of shockwaves in the market.

    However, the charm of internet Computer Protocol may have died. After the initial rise in popularity, users and expert started to get wary of the network. Many issues were pointed out and a lot of concern surfaced. A good chunk of the community now believes ICP may not be ready to provide what it said it would.

    Redditers are not a fan of the network – at least not anymore. A thread on Reddit revealed users pointing out towards the flaws of the Internet Computer. The network preaches decentralization but it is not decentralized itself. There are also concerns regarding the privacy on the network.

  • Internet Computer: The next step in blockchain innovation?

    Internet Computer: The next step in blockchain innovation?

    The Internet Computer (ICP) made its debut on Monday but the initial success of the cryptocurrency left the market in shock. In just a few days, Internet Computer landed itself a spot in the top ten cryptocurrencies in terms of market capitalization – with ICP at even the fourth rank at one point. ICP gave a run to established coins like Litecoin and Ripple for their money. At the time of writing, Internet Computer stands at eight rank in the market with a price level of $308.

    Internet Computer’s price level had a stark difference on different exchanges. On its Coinbase debut, ICP was priced at $630 but surged as high as 3,093 on Binance. HitBTC reported an all-time high at $407. Even with such high differences, the cryptocurrency has managed a phenomenal growth of its capitalization which landed it in the top ten list.

    The internet Computer is described as a computing project based on the blockchain. The project has been regarded as the next step in the evolution of blockchain technology following Bitcoin and Ethereum. The price rally of the cryptocurrency just after days of its launch further fueled the narrative of it being the next phase of Blockchain evolution.

    Dfinity, the organization behind ICP, hopes to become the first-ever truly global blockchain that runs with unlimited scalability and unmatched web speed. ICP is designed to host online services through the internet instead of requiring cloud hosting.

    However, the rise of ICP to the top ten cryptocurrencies may have resulted due to a carefully-crafted strategy of Dfinity to land it there. The ICP was listed by major cryptocurrency exchanges almost simultaneously which exposed it to a large user base all at once. Furthermore, the project also has the backing of some high-profile players. The United States angel investor Andreessen Horowitz and a cryptocurrency hedge fund, Polychain Capital, are some of the prominent ones.