The Filecoin platform provides online storage solutions. Decentralization distinguishes it from other digital storage providers, such as Google Drive. A simple explanation of Filecoin would be that it allows for storage by users for users.
A protocol called IPFS, or InterPlanetary File System, underpins the project while Filecoin provides security and incentives. With Filecoin, users can rent out or sell their spare storage space for the native token of the network.
It seeks to solve a problem currently being solved by existing centralized cloud storage providers like Amazon, Microsoft, and Google with a crypto-native approach. As we attempt to predict Filecoin’s future price, here’s what to look for.
Analysis of Filecoin Price Predictions
Currently, Filecoin is trading for $4.92 and is ranked #33 in the entire crypto ecosystem, according to the latest data gathered. Filecoin has a market capitalization of $1,969,078,287, with 389,513,726 in circulation. Filecoin price prediction sentiment as of February 13, 2023, is bearish. The technical analysis has seven bullish indicators and twenty bearish ones.
By February 17, 2023, we predict Filecoin to reach a value of $6.15 based on our current price prediction. Our technical indicators show a Bearish sentiment, while the Fear & Greed Index shows a neutral reading. 15/30 (50%) of the last 30 days were green for Filecoin, with price volatility at 8.70%.
The average price of Filecoin in February 2023 is expected to be $5.25, based on price fluctuations at the beginning of 2023. Prices may range from $4.75 to $5.40 at its minimum and maximum.
Trading costs may reach $5.61 in March, while the minimum might be $5.16. On average, we predict the value of Filecoin might be around $5.36. Although it may have strong fundamentals, the coin still shows risky framing segments, and we do not expect it to be profitable soon.
How Good is Filecoin as an Investment?
As a cryptocurrency with a clear vision and roadmap, Filecoin will significantly impact the entire cryptocurrency industry but crypto exchanges will continue to favor Filecoin despite all barriers. Even though this digital asset won’t blow the roof for cryptocurrency prices, it will stand firm on its feet.
With Filecoin’s blockchain, you can store large files at a low cost, faster than most other blockchains. Besides, other blockchains can store large files with Filecoin as a storage solution. The Filecoin blockchain will be interoperable with other blockchains in the future as mechanisms are added.
What are the Best Alternatives to Filecoin?
Filecoin may not be the best altcoin to buy, so investors may want to research other alternatives. We expect the following crypto presales to return above-average returns for 2023.
An example of such a crypto coin is Meta Masters Guild, a new play-to-earn platform based on Web-3 technology. As the world’s best gaming crypto coin, the project’s creators believe it is well-positioned to chart the future.
Among the games that Meta Masters Guild will introduce are Meta Kart Racers, NFT Raid, and Meta Masters World. This platform allows users to generate revenue through in-game gems. For additional benefits, you can exchange the gems for MEMAG, the Meta Masters Guild’s native coin. If you prefer to purchase NFTs and other in-game items, you can use the Gems.
You can also make money in the Meta Masters Guild network by creating content, supplying in-game items, developing games, and giving away items to the community. In a presale that raised $3.8 million in weeks, investors are booking positions in one of the best Web3 coins.
In stage 6 of the presale, 1 MEMAG is going for $0.021. In the next round, the price will increase to $0.023. We recommend you act quickly to benefit from this project.