The fast-paced world of cryptocurrencies has been delivering groundbreaking unique projects every day. One of the innovative crypto assets that stunned the space with its distinctive features is Filecoin (FIL). The network with its decentralized file storage system, and growing metrics has established its reign in the business. 

After its massive run in 2021, where the asset scored triple-digit returns, marketers are keen on investing in FIL. Are you keen on investing in FIL, but doubtful of its projections in the near future and in the long term? Look no further, as we bring to you the plausible price predictions of FIL for 2022 and the years to come!

Overview

Filecoin (FIL) Price Prediction 2022

 Filecoin had sliced through 200-50-20 days MA from the start of the year, with a price tag of $34.39. The digital asset has been on a steady downtrend, which resulted in the altcoin closing its trade for January at $22.19. Whilst the price did pose a gradual uptrend, until the 8th of February, when it hit $26.82.The leg-up was short-lived, as tensity across the global markets dragged the price down to its support at $18.96. 

FIL Price was seen hovering closer to its support levels, until the 27th of March. When it showcased a 25.7% spike in its daily candle. Following this, the trade for the quarter was closed at $27.76. 

Filecoin’s (FIL) Prediction For Q2

  FIL price had initiated the quarter at $23.59 but has slipped back to its support levels at $18.84. With an influx of volumes, the price could gather steam to propel to $20.83. Accumulations at these levels could push the to $23.84, which would help close the quarter at $27.86. While average levels are expected at $23.63, a continuity in bearish trends could land the price at $19.84.

FIL’s Forecast For Q3

 Following a bullish run to the said levels, the altcoin could witness a short-term pullback, prior to initiating a bullish uptrend. FIL price could surge to $30.59 by the first month of Q3. With announcements of major updates, collaborations, and adoptions. The price could soar to its quarterly high of $42.69. 

That said, day-to-day trade practices could settle the price at regular levels of $34.28. Conversely, prolonged bear activity and lack of volumes could strike the price down to $26.93.

FIL Prediction For Q4 

The fourth quarter remains imperative for the broader crypto fraternity, so as for the Filecoin. Optimism and positive social sentiments could impart impetus to the price of the digital asset. Moreover, with the successful rollout of updates and projects, the price could soar to its potential high of $64.96.

On the flip side, the protocol failing to stand true to its expectations could result in the asset finding support at $41.63. That said, considering the bullish and bearish targets, the average price could settle at $55.17.   

Filecoin Price Prediction 2023

 If the altcoin hits positive highs by the end of 2022, then 2023 may start with a bullish note. If it falls down, then the new year journey may resume on a bearish note at $55.47. As some of the upgrades are in the pipeline if the network fails to introduce at the said time. Then the price may end up trading at $66.65 by the end of 2023.

With successful upgrades the asset could moon to $150.56. However, with regular buying and selling pressures, we could see FIL price trading at an average value of $94.60.

Price Prediction For The Next Five Years

  In the next 5 years, the Filecoin price might continue to peak and it may break all its past price records. The firm might announce new services to its trading to enhance the minds of the investors to invest in FIL. By the next 5 years, the asset might reach the $305.96 mark. However, if any strong regulatory restrains impact the price action, then the FIL price may end up trading at $172.25.

What Does The Market Say?

Digital Coin Price:

A crypto prediction website has revised its price prediction for FIL. The firm expects the price to close its trading at a maximum of $26.41 by 2022. That said, the minimum and average closing targets for 2022 are set at $23.32 and $25.07 respectively. According to Digital Coin Price forecasts, FIL could reach a maximum of $42.74 by the end of 2025. 

Gov. Capital: 

As per Gov. Capital predictions, FIL price is forecasted to hit a maximum price of $85.54 by 1-year. The analysts from the firm have also made predictions for the long term. According to their analysis, FIL could hit a maximum of $162.298 by the next five years.

Trading Beasts: 

According to the forecast of Trading Beasts, FIL price could hit its potential high of $24.957, by the end of 2022. The firm expects minimum and average closing prices to fall to $16.971 and $19.996 respectively. That said, the maximum closing targets for 2023 and 2025 are set at $32.577 and $54.282 respectively.

To read our price prediction of Algorand (ALGO) click here!

What is Filecoin (FIL)?

Filecoin is a trusted decentralized storage system, with an objective to “store humanity’s most important information”. Moreover, the asset is an open-source cloud storage cryptocurrency. Launched with the aim of blockchain-based cooperative digital storage and retrieval. 

Similar to Ethereum, Cardano, and many other assets, Filecoin has its own native token FIL. This is an ERC 20 token in Binance smart chain mainnet. This native protocol incentivizes a global network of computer operators to pay for digital storage and retrieval, and for other transactions on the platform.

Fundamental Analysis

The initial release of the Filecoin was on the 15th of July 2014 and went live on the mainnet in October 2020. The platform was founded by Juan Benet, who was a Computer scientist from the USA and had completed his studies at Stanford University.

In order to bring revolutionary changes in the Defi space, he launched Protocol labs in the year 2014. With the aim of promoting Filecoin, Interplanetary File System (IPFS), a peer-to-peer storage network, and other projects. Prior to Filecoin mainnet launch in July 2020. Truffle Suit had declared that it would be allowing Filecoin to facilitate its investors to build Defi Apps with 100% uptime.

Successively, this could be done by extracting the benefit of Filecoin’s digital storage miners across the world. In October 2020, Filecoinhad announced a partnership with ConsenSys. With an aim of serving traders by enabling a new cost-efficient digital data storage option. Conversely, more than 60 tech firms have collaborated with Filecoin. And the platform has exceeded 1 exbibye of storage capacity.

Our Filecoin (FIL) Price Predictions

The constant upgrades and partnerships will give a massive boost to the price of Filecoin (FIL). According to Coinpedia’s formulated Filecoin price prediction. With a spike in bull market sentiments, FIL’s price may skyrocket to $65 by the end of the year 2022.

On the downside, future market fluctuations and increased competition may adversely affect the altcoin’s price. Wherefore, the price may see a downtrend in the upcoming months. Which may result in a collapse of the coin’s price to $42.

Historic Market Sentiments

2020:

Filecoin entered the market in 2020. Later on, the price started to improve and reached $5 at the end of November. With certain fluctuations, the FIL price ended 2020 with a trading price of $4.97.

2021:

The first quarter of the year 2021 turned out extremely positive for Filecoin. As the asset started its bullish rally from the very first day, with a trading value of $21.81. By March 15th, the price of the coin soared beyond $80. Then, surprisingly FIL price skyrocketed to hit ATH at $237.24 on April 1st, 2021.

After reaching the milestone, the asset stumbled back to$72.79on May 22nd, 2021 due to the Chinese market crash. The token continued to fall till mid-July, when the price almost dipped to $45.62, returning to its levels from January. Later the price started a steady rise, smashing the $100 mark in September.

The turmoil coming out of the Chinese market plunged the price back to $59.12. Bears haunted the rally from there with a consecutive generation of lower highs. However, failing to hold the local support, the FIL price dropped to $30.13 by the year’s end.

Click here to read our price prediction of Litecoin (LTC)!

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