In this article, we will give our own and market’s opinion on ICX future while discussing Icon price forecast for 2020 and beyond.
Before we delve deep into the Icon price prediction and answer questions if ICX is a good investment or not, why will ICX succeed or fail or while will Icon price rise or drop, let’s quickly throw a glance at what is ICX and its to date history.
Now, let’s begin.
The vision of the ICON Project is to introduce the new era of decentralization by redefining the meaning of communities and creating a new world by connecting such communities or to put it in their words: „With ICON, we now enter into a world of true hyperconnectivity“.
Icon cryptocurrency conducted an ICO in October 2017 in which half of total ICX supply was sold to the public. The total supply created is 800,460,000 ICX, with 400,230,000 sold to the public and circulating. Regarding release of the other 50% of total supply, the Icon website states: “Issuances of new ICXs will be determined through annual C-Rep consultation.”
Currently, ICX is out of the top 50 coins by market cap.
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Captain Altcoin’s ICX Coin Price Prediction 2021
ICX, as the rest of the market, is tied at the hip of bitcoin’s price action. If bitcoin embarks on another bull run, ICX can hope for one as well. Bitcoin usually has a cool-off phase after its mega bull runs and that is when the altcoins take over and have a field day with the bulls, often doubling or tripling their price within days.
With the pandemic breakout, the world was sent into hybernation for couple of months and it reflected negatively on the cryptocurrencies, sending bitcoin downhill as we witnessed even 40% daily losses. However, situation quickly stabilized and bitcoin as the flagbearer took the crypto market back up. We are in a major bull run since the summer and, if we are listening to the analytics from social media and journalistic desks, we are far away from its local zenith.
What this means for Icon price in 2021?
As long as bitcoin is in the main role and pulling upwards, there is little room for ICX to shine. It will, however, increase its USD denominated value thanks to the overall rise in crypto prices. Nevertheless, ICX to BTC ratio will probably slump, possibly to all-time lows. This means that it is best to keep your funds in bitcoin until it reaches its provisional peak, opening the doors for the altcoins to enter the scene. Icon will be among the top candidates to record big gains, as the money usually flows from bitcoin profits to bluechip altcoins and big cap coins before trickling down to the less known and smaller projects.
The majority of projects will fail — some startups are created just to gather funds and disappear, some would not handle the competition, but most are just ideas that look good on paper, but in reality, are useless for the market.
Vitalik Buterin, co-founder of Ethereum said:
“There are some good ideas, there are a lot of very bad ideas, and there are a lot of very, very bad ideas, and quite a few scams as well”
Icon (ICX) Price Prediction 2025 – 2030
As a result, over 95% of successful ICOs and cryptocurrency projects will fail and their investors will lose money. The other 5% of projects will become the new Apple, Google or Alibaba in the cryptoindustry. Will ICX be among those 5%?
It is more than plausible.
ICX did build a solid ecosystem and the team is pushing simultaneously on both fronts: tech and business side.
Between the many partnerships, some of the major ones include:
Partnerships with Woori Bank and Nonghyup Bank, two of the largest banks in South Korea; with the larger healthcare blockchain consortium in South Korea; Partnerships with the larger insurance consortium in South Korea backed by the Ministry of Science; Partnerships with Samsung; Partnership with Daily Financial Group etc.
There is also the benefit of coming from South Korea. One of the major benefits for Icon is that it is the biggest blockchain project coming from a very tech-savvy South Korea. It’s a nation quick to embrace technological change. You could probably pin this to Korea’s incredible economic development in the latter half of the 20th Century, when it was transformed from an impoverished country in the aftermath of the Korean War into a wealthy nation with the 12th largest economy in the world.
As reported by Quartz, more than 30% of employees within South Korea have owned cryptocurrency at some point. The ICON blockchain project was started by Korean fintech startup incubator Dayli Financial Group, which also owns Coinone, one of the country’s largest crypto exchanges.
While there are many competing projects looking to connect various industries and public sectors in other countries, ICON has established itself as the only real contender to dominate blockchain development in South Korea.
ICX should see major gains with the Korean markets building steam and the overall crypto markets building momentum. ICON has a decentralized exchange for OTC exchanges, they were created by one of the largest financial groups in South Korea.
All of this summed up means one thing: ICX might live through couple of orchestrated and, for a regular trader, completely unpredictable pumps but the majority of time will be murky sideways trading with small volume and no significant interest from the market.
Price will heavily depend on what BTC will do and since many analysts think BTC will not be making big moves in this year, it is hard to expect ICX will do them either. The price will probably stagnate and record slow-moving depreciation or appreciation depending on the team activity, potential technological breakthrough or high-level partnership.
Icon price prediction 2020 – market predictors
With the market being completely unpredictable, forecasting the cryptocurrency price is really more of a gamble and luck rather than a data driven guesstimate.
Let’s throw a glance at the eminent publications and personalities, and their price predictions regarding the Icon (ICX) price, which will give us another point of view to consider:
CoinLiker is a crypto website which predicts that ICON might reach $3.79 by the end of 2020 which is pretty unrealistic and probably one of the most bullish (optimistic) ICX predictions we have seen as right now, that too when it is trading at less than $.20. CoinLiker also predicts that in 3 years, ICX might trade at $9.59 and in 5 years, it might touch $13.62.
Walletinvestor- a crypto forecast hub that has an algo that makes technical analysis price predictions forecasts that ICON price will drop heavily to $0.010 USD by the end of 2020, which seems pretty pessimistic.
Trading Beasts- a crypto news publishing forum predicts that ICON will be at a maximum at $0.32 and minimum at $0.21 by 2020 end.
Price Prediction is a cryptocurrency price forecasting forum, which predicts that 2020 is going to be a much better year than 2019 for ICX as the coin’s price value will hold its value between $11 to $17. This is completely unrealistic in our view.
Icon (ICX) Future: 2023, 2025, 2030
Icon (ICX) Price Prediction 2023
Icon (ICX) Price Prediction 2025
Icon (ICX) Price Prediction 2030
Realistic Icon (ICX) Price Prediction
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com