Filecoin's Price Fluctuates, Do You Keep Watching or Invest?

Filecoin’s Price Fluctuates, Do You Keep Watching or Invest?

Updated: 21 February 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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As Filecoin (FIL) soared above $200 during the 2021 bull run, it caught the attention of investors. Is this trend still possible? Currently, FIL ranks as the 22nd largest cryptocurrency based on its market cap, which puts it in the top 25 cryptos.

It allows users to rent out space on their devices using a decentralized protocol. The project uses open-source coding to create a decentralized ‘cloud’ competing with heavily centralized data centers.

Storage mining (offering storage), retrieval mining (processing data queries across the network), and leasing storage are three key components of the Filecoin network.

Our price prediction attempts to answer most of your questions cryptocurrency volatility, notwithstanding. Can Filecoin (FIL) regain its ATH? What might Filecoin’s value be next month? Could Filecoin be a good investment right now? Can Filecoin be classified as bullish or bearish at the moment?

In this Filecoin price forecast, we use various FIL technical indicators to make a prediction.

What are the Price Predictions for Filecoin (FIL)?

Currently, Filecoin is priced at $7.836 and ranked #25 among cryptocurrencies. With a total market capitalization of $3,100,600,194, Filecoin now has 389,513,726 circulations. In the past seven days, Filecoin has gained 67.00%, which is steady growth, and investing in Filecoin this week has returned a positive ROI for investors.

A price increase of 56.27% in the last 30 days increased FIL’s market capitalization to $3,100,600,194, adding $2.88 to its price of $5.12. Investors might want wait until another bear market before investing in FIL.

The bullish period FIL has experienced over the past week has resulted in investors earning over 67.00% returns on their investments. But FIL’s technical indicators could show a slight correction over the next few days.

FIL’s price is predicted to drop by $0.215964 over the next seven days, reaching $7.78 on February 28, 2023, based on our Filecoin price prediction. Crypto experts predict that Filecoin’s average rate by the end of February 2023 could be $7.88 based on its price fluctuations at the beginning of 2023.

Prices might be $7.13 at the minimum and $8.10 at the maximum. Trading costs might range from $7.66 to $8.50 in March 2023. Generally, Filecoin’s value is expected to be around $8.04.

Is Now a Good Time to Buy Filecoin?

As a decentralized storage space for all decentralized applications, even those on other blockchains, Filecoin stands out from its main competition, including NiceHash, Salad, ECOS DeFi and MinerGate.

But its competitors want to make money off of extra storage space on computers. Consequently, Filecoin may encounter issues because these competitors require lower participation standards. Despite this, Filecoin’s ICO raised much more money than its main competitor, giving it a competitive advantage.

Besides, it offers more storage providers than their competitors, and its storage capacity is even higher.

Alternative Tokens in their Pre-sale Stages

Because Filecoin’s price keeps fluctuating, investors can make other gains from alternative tokens in their pre-sale stages. Below are our suggestions for other high-potential crypto projects for 2023 based on our cryptocurrencies review for 2023.

C+Charge (CCHG)

If you own an electric vehicle (EV), C+Charge (CCHG) is a way to pay for charging it. As a reward for transacting on the platform, owners receive carbon credits. Pre-sales of the native token CCHG have raised $1.1 million so far, and each stage raises more funds.

FightOut (FGHT)

FightOut rewards users for staying healthy and active. Users can customize their move-to-earn plans and access them through a mobile app. The pre-sale has raised $4.2 million, and the native token, FGHT, could increase in value as the pre-sale rounds progress. These pre-sales allow early investors to earn when the coin is listed.

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