This Filecoin (FIL) Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into account upon coming up with our FIL price analysis and prediction.
Filecoin (FIL) so far has become one of the most impressive cryptocurrencies this year. Specifically, the crypto was able to record an all-time-high price of $237.24 last April. This aggressive performance of crypto attracts the attention of investors around the world.
Regarding Filecoin’s technology, the network uses blockchain technology to run its operations. Mainly, the crypto uses blockchain for the storage of its users’ files on the storage miners. These storage miners are the ones responsible for keeping the files on track and their authenticity. With this, users of the network can be sure that their files are stored reliably and correctly over time.
In this FIL price analysis and price prediction, we take a look at the performance of FIL if it will reach $300. But before that, let us learn more about what Filecoin (FIL) is and its current position in the crypto market.
What is Filecoin (FIL)?
Filecoin is a storage network based on blockchain technology that turns cloud storage into an algorithmic market. It aims to provide all its users worldwide with a safe place to store common and sensitive data or information. Best of all, FIL is designed to be user-friendly in a way that it has special software that enables its users to store data on a PC’s hardware. The Filecoin network was launched in 2014 and was designed by the Protocol labs. It is built on top of the Interplanetary File System, allowing users to rent unused hard drive spaces. On the other hand, the miners that facilitate or provide data storage or retrieval of files are rewarded by the network.
To be specific, there are many types of data and files that the Filecoin network supports. For example, company files, private data, websites, video, personal files, public databases, podcast data, contract data, and security archives to name a few. Now that we have an idea about FIL, do you think FIL will be profitable crypto in 2021? Join me and let us see the charts in this FIL price prediction.
Filecoin (FIL) Current Market Status
Filecoin (FIL) Price Analysis 2021
Currently, FIL holds 22nd place on CoinMarketCap. But will the latest upgrades, developments, and changes in the FIL blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this FIL price prediction article.
Conversely, if the investors turn against the crypto, the bears might take over and dethrone FIL from its uptrend position. In simpler terms, the price of FIL might drop to almost $70.75, a bearish signal. Meanwhile, our long-term FIL price prediction for 2021 is bullish. It has a high possibility of surpassing its current all-time high (ATH) at about $237.24. However, it is impossible for FIL to reach this level within this year.
Filecoin (FIL) Price Prediction 2022
If this bullish trend continues, FIL will reach $400 by the end of 2022. Moreover, the first half of 2022 is going to show rapid growth, up to $450.
Then the rise will slow down, but no major falls are expected. With upcoming, partnerships, and developments reaching $400 is quite optimistic in the price point of view but undoubtedly feasible for the near future.
Filecoin (FIL) has a bright future ahead of it in 2021. With the ongoing developments happening within the FIL ecosystem, as well as in the overall crypto market, we may see FIL reach new heights. Bullish FIL price prediction 2021 is $156. As said above, it may even reach $300 if investors have decided that FIL is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.
This article is firstly and originally appeared on Coinquora.com and redistributed by Grabcoins.link.