The Internet Protocol (ICP) was one of the most widely discussed projects launched in 2021, largely due to the fact that immediately after launch ICP managed to briefly become one of the top 10 largest cryptocurrencies by market capitalization.
The ICP price has since declined, but many experts believe that the fact that ICP coins can now be purchased at a lower price means that the Internet Computer is a good investment. But what is the Internet Computer exactly, and is it really a good idea to invest in ICP?
The History of the Internet Computer
The work on ICP started in October 2016, when a non-profit organization DFINITY Foundation based in Switzerland decided to take the next step in the evolution of blockchain technology. The main founder of DFINITY Foundation and the Internet Computer is Dominic Williams – an experienced blockchain developer who has previously worked on both Bitcoin and Ethereum.
DFINITY Foundation managed to raise considerable funds for the development of the Internet Computer. Contributors such as Multicoin Capital, ZeroEx, Aspect Ventures, Andreessen Horowitz, and many more have donated $121 Million in total to the project. Such strong corporate backing is one of the main reasons why ICP is a good investment for crypto enthusiasts looking for projects with a great long-term outlook.
After years of development, the ICP coin was made available to the general public. The Internet Computer was listed on a large number of major crypto exchanges including Coinbase, Binance, Huobi, KuCoin, and OKEx.
Immediately after the Internet Computer went public, the ICP price erupted to over $737. Even though a correction in price followed soon after, many blockchain analysts believe that ICP is a good investment and that it definitely has the potential to get back to the position of one of the 10 most valuable blockchain projects in the world in the near future.
Why Is the Internet Computer (ICP) a Good Investment?
ICP is a good investment mainly due to its strong technologic fundamentals. The Internet Computer is a fully operational, hyper-functional blockchain network designed as a complete ecosystem able to compete with industry leaders such as Bitcoin or Ethereum.
Essentially, the Internet Computer bridges the worlds of blockchain and the traditional web. The unique technology behind ICP called the Chain Key Technology allows connecting the computing power of many computers around the world, effectively turning them into an extremely efficient and powerful decentralized computing unit.
In practice, the Internet Computer can be explained as a blockchain able to operate with speed typical to modern-day web applications. Imagine if sending blockchain transactions was as fast as loading a website in your web browser – that’s essentially what the ICP does.
Finally, one of the reasons why the Internet Computer is a good investment is the fact that it went public as a fully functional network consisting of many different solutions. While for networks like Ethereum it took years to expand and accommodate various applications and use cases, the ICP ecosystem already hosted a large number of dApps at the moment of launch, such as decentralized exchanges Enso Finance and Tacen, a DeFi platform SailFish, social media platforms Distrikt and CanCan and much more.
ICP Price Predictions for 2021, 2022, 2023, and Beyond
Most crypto enthusiasts agree that the Internet Computer is a good investment and that the ICP price will soon start appreciating. While a lot of blockchain experts agree that the Internet Computer won’t be able to gain a new all-time high by the end of the year, the general consensus is that the ICP price will double or even triple in the near future.
For example, Twitter user Noorudding believes that the ICP price will soon reach $186. This would mean a 4x increase from the current price, and would definitely make the Internet Computer a good investment.
— Nooruddin ∞ (@mdnoorudin) September 10, 2021
A similar although slightly lower ICP price prediction was posted by the popular blockchain investor Matrix Crypto. He is convinced that the Internet Computer price will reach $170 in the near future, which he considers a realistic scenario.
My realistic price predictions for top 20 coins by EOY ⬇️$BTC 85k$ETH 9K$ADA 4$BNB 1200$XRP 2.5$DOGE 0.9$DOT 85$SOL 115$UNI 75$LUNA 80$BCH 1850$LINK 85$LTC 600$MATIC 4.5$ICP 170$XLM 1.2$ETC 180$VET 0.4$THETA 22$FIL 200$TRX 0.3$ATOM 50$AVAX 75
— 🔱 MATRIX 🔱 (@Matrixcryptoo) August 19, 2021
Of course, some Twitter users are much more bullish than that. For example, crypto investor Oso Da Tsimoso believes that the Internet Computer price can even reach $1200 in the foreseeable future.
My EOY price predictions:#BTC 120,000$#ETH 30,000$#XRP 80$#MATIC 10$#XLM 55$#ADA 10$#VRA 4$#ICP 1200$#XVG .5$#INJ 30$#LUNA 35$#SOL 100$#DOT 80$#IOTA 60$#SHIB .0001$#VET 12.5$#DPET 30$#AXS 80$#SKILL 500$#TCP 10$
— Oso Da Tsismoso (@OsodaTsismoso) July 27, 2021
When it comes to crypto analysts on Youtube, a lot of them seem to agree that the next logical target for the ICP price is $150. This prediction is shared for example by the blockchain researcher CryptoMillionaire:
The popular channel Project MoonGold also believes that the ICP is a good investment and that the Internet Computer price will reach $150 soon. The main reason for this prediction is the fact that institutional investors are very likely to start massively supporting ICP in the near future.
Will the ICP Price Reach $150?
The ICP price is likely to reach $150 or more in the near future. Many blockchain experts believe that long-term perspectives for the Internet Computer are very bullish, so ICP can surpass $150, $200, or even more soon.
Does ICP Crypto Have a Future?
The Internet Computer is considered a technologically innovative project with great long-term perspectives. A lot of crypto investors think that the ICP price will continue to grow in the future.
Where to Buy the Internet Computer?
The Internet Computer is a major cryptocurrency that can be purchased on almost all major exchanges. This includes platforms like Binance, Coinbase, KuCoin, Huobi Global, Bitfinex, OKEx and many more.
Is the Internet Computer (ICP) a Good Investment?
The Internet Computer is a good investment because of its strong technologic fundamentals and significant corporate partnerships. A large number of blockchain analysts and experts are convinced that the ICP price will increase in the future, and is likely to surpass its previous all-time high in 2022.
When we look at the groundbreaking technologic fundamentals of the Internet Computer and its current as well as possible use cases, it’s obvious that ICP is a good investment and that its massively successful public listing was not just a matter of hype and marketing. It may seem like the ICP is a project that came out of nowhere, but in reality, it is a functional ecosystem that was in development for years and can be considered a serious competition to blockchains such as Ethereum, Cardano, or Binance Smart Chain.
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