Is ICP Crypto a Good Investment? A Detailed Analysis

ICP stands out as a groundbreaking blockchain, pioneering the realm of limitless capacity with an operational efficiency matching the speed of the web.

Delving into the depths of this guide, we aim to address the pivotal query regarding the investment viability of ICP crypto.

Our exploration extends beyond mere financial considerations, encompassing a comprehensive examination of the cryptocurrency’s overall performance, its diverse range of applications, and an insightful analysis of its investability quotient.

Furthermore, we will guide you through the potential avenues where you can seamlessly execute your purchase, providing a holistic perspective on the entire landscape of ICP as an investment opportunity.

Is ICP crypto a good investment
ICP, the Internet Computer Protocol, launched in May 2021 but is viewed unfavorably for long-term investment by our experts and others. WalletInvestor predicts a significant drop, expecting the coin to fall to $0.16 within a year: Photo source (Reddit)

How ICP Crypto Has Performed Since Launch

Before diving into an investment in cryptocurrency, it’s crucial to assess the token’s historical performance.

In the case of Internet Computer crypto (ICP), launched by Dfinity in May 2021, the project had a robust start, reaching a peak of over $750.

However, just a month later, its value plummeted by 95% to $34, and by July 2021, it further dropped to $28.

The Dfinity Foundation, responsible for designing the Internet Computer blockchain, attributed this decline to the token’s launch coinciding with a broader crypto market bull run.

Despite a brief recovery, with ICP trading at around $36 in January 2022, it has since struggled to maintain value, consistently remaining below $25.

It’s essential to consider these fluctuations and the project’s overall trajectory when contemplating an investment in ICP Crypto.

We dive into more ICP Crypto price data next.

ICP Crypto Price

Consider ICP Crypto’s token price before investing. After a mid-2021 decrease, it stabilized, making it attractive to traders as an underpriced crypto.

Although it hit $85 in August 2021, it has since fluctuated between $20 and $83.

As of now, the 24-hour high/low is $18.50/$20.68, and the current price is around $19.40.

Keep in mind the inherent volatility of cryptocurrencies, but this provides insight into its status compared to its debut.

Also read: What Does Pegging Mean In Crypto?

ICP Crypto Highs and Lows

By now you will have a clearer understanding of what ICP Crypto does, and its price history.

Let’s have a look at a condensed version of the coin’s significant highs and lows since its introduction to the digital currency market:

  • Debut Price in May 2021 – $274
  • May 2021 – All-time high of $750, this shows an increase of over 173% in a matter of days
  • June 2021 – ICP Crypto falls to a low of $34, illustrating a drop of about 95% since its all-time high in May
  • July 2021 – The cryptocurrency plummets further, to a low of $28
  • September 2021 – High of almost $85, displaying an increase of over 200% in less than two months
  • February 2022 – ICP Crypto falls to an all-time low of $14.50, which is around 98% lower than its all-time high

As we touched on, ICP Crypto has traded at a value of less than $25 since the aforementioned drop in February 2022.

With that said, this is a cryptocurrency, so anything could change in the coming seconds, minutes, or hours.

ICP Crypto Price Prediction

Considering its drop from the all-time high of $750, the question arises: Is ICP Crypto a wise investment? Analysts are divided on its price projection.

While some see it as a risky long-term investment, others hold a more optimistic view.

Predictions range, with some anticipating a rise to $32.7 in 2023.

However, the timing of demand fluctuations and price decreases is uncertain in today’s speculative environment.

Whether ICP will return to earlier highs remains uncertain, and analysts suggest a potential return of over $100 may take until 2024.

Many buyers are driven by the prospect of price increases rather than a firm belief in the long-term use of blockchain technology.

More information is provided next to assist in deciding whether to invest in ICP Crypto.

ICP Crypto Utility – Is It Investable?

Let’s delve into the investability of ICP Crypto. The Dfinity Foundation, behind ICP, envisions a 20-year plan for an open internet.

Unlike Ethereum, ICP uses a reverse gas model, eliminating the need for specific tokens or wallets.

Developers pay for infrastructure with ICP tokens, resembling cloud services.

ICP aims to play a significant role in DeFi, potentially powering global information infrastructure. Unlike Bitcoin, there’s no supply restriction on ICP tokens.

If it displaces major IT companies, it could control a substantial part of IT spending, with businesses buying ICP tokens to power their software.

The investment appeal depends on your risk appetite and confidence in ICP’s success.

Where to Buy ICP Crypto

As we’ve answered the question of the day ‘is ICP Crypto a good investment?’, we will now review one of the most used crypto exchanges offering access to this token at a low cost.

In this review, we cover everything from fees and features, to deposit methods, and more.

This should help you to complete your Internet Computer investment in safety and in a cost-economical way.

Crypto.com – Great Crypto Exchange to Buy ICP Crypto and Earn Interest

Crypto.com, a leading platform offering access to 250+ cryptocurrencies, including ICP Crypto, ensures a regulated and secure investment environment.

With low commissions (up to 0.4%), potential fee reductions for large trades, and features like an NFT marketplace, crypto wallet, credit card, and decentralized exchange, it provides a versatile experience.

Crypto.com supports Crypto Staking, allowing you to earn up to 14.5% interest on cryptocurrencies (10% for stablecoins).

The minimum deposit is $20, and funding options include credit card (2.99% fee) or fee-free ACH deposits processed instantly.

Explore other top-ranked crypto exchange platforms for additional choices.

Should I Buy ICP Coin?

Wondering if ICP Crypto is a good investment? It’s a subjective question, but here’s a brief overview: ICP aims to decentralize smart contracts and enable scalable internet services.

It operates without a fixed physical location, leveraging new cryptography to integrate with networks like Bitcoin.

With benefits like web speed and low fees, ICP shows promise, but it’s crucial to research thoroughly before investing.

Conclusion

In this guide, we’ve addressed the potential of ICP Crypto as an investment, highlighting its struggle to reach its initial all-time high.

If uncertain about adding ICP Crypto to your portfolio, consider the promising alternative, Lucky Block.

This rapidly growing cryptocurrency, valued under $1, has achieved a market cap surpassing $1 billion in just over two months, offering a transformative approach to lottery gaming.

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