Filecoin Price Prediction
(FILUSD)$4.51$4.45 (4.32%)Market Stats and Forecasts
Filecoin Description
FIL, or Filecoin, is the native cryptocurrency of the Filecoin network. This network aims to disrupt traditional cloud storage by offering a decentralized alternative. Currently, large companies like Google and Amazon dominate cloud storage. This raises concerns about data privacy and reliance on a single provider. Filecoin seeks to address this by creating a peer-to-peer network for storing data. Users with spare computer storage space can become "storage miners" on the Filecoin network. They offer their storage in exchange for FIL tokens. Those needing storage pay miners in FIL to store their data.
Filecoin works on peer-to-peer storage and data retrieval protocol IPFS. It assigns a unique address to every data associated with its network. A proof of replication mechanism ensures miners store the data they commit to. Miners submit cryptographic proofs that verify data storage over time. To retrieve data, users interact with miners who prove they possess the requested data. This incentivizes reliable storage and retrieval. Filecoin has a built-in marketplace. This is the place where users can negotiate storage deals with miners.
This dynamic market system influences the supply and demand for storage. Filecoin employs locking mechanisms for FIL for storage deals to incentivize long-term storage commitments. This can affect circulating supply and FIL's price. Filecoin plays a vital role in the dWeb movement. This aims to create an open and censorship-resistant internet. It offers control over data, ownership, and privacy. .
Forecast Based on AI Model
Drawing insights from our analysis that integrates historical price movements of Filecoin, Our analysis, guided by the machine learning experts, yields forecasts for Filecoin price trajectory up to 2024. With a comprehensive understanding of Filecoin historical price movements and utilizing advanced algorithms, our team has derived predictions with a mean absolute error (MAE) value of 4 and an error value of 0.78%.
For the year 2024, our analysis indicates a projected yearly low of $5.71, with the high anticipated to reach $9.11. These forecasts are the outcome of a comprehensive approach designed to provide investors with reliable insights for strategic decision-making.
Prediction Table based on AI Model
| Date | Low | Average | High | ROI |
| 2024-07-01 | 4.62 | 4.72 | 4.86 | 7.91 |
| 2024-07-02 | 4.53 | 4.73 | 4.9 | 7.91 |
| 2024-07-03 | 4.52 | 4.61 | 4.71 | 6.72 |
| 2024-07-04 | 4.52 | 4.61 | 4.71 | 6.72 |
| 2024-07-05 | 4.58 | 4.73 | 4.91 | 9.07 |
| 2024-07-06 | 4.62 | 4.72 | 4.86 | 7.87 |
| 2024-07-07 | 4.67 | 4.82 | 4.96 | 10.24 |
| 2024-07-08 | 4.67 | 4.82 | 5.01 | 10.24 |
| 2024-07-09 | 4.62 | 4.82 | 5.01 | 10.24 |
| 2024-07-10 | 4.67 | 4.77 | 4.86 | 9.03 |
| 2024-07-11 | 4.57 | 4.72 | 4.85 | 7.83 |
| 2024-07-12 | 4.52 | 4.67 | 4.85 | 6.64 |
| 2024-07-13 | 4.52 | 4.66 | 4.8 | 6.64 |
| 2024-07-14 | 4.52 | 4.61 | 4.75 | 5.47 |
| 2024-07-15 | 4.52 | 4.66 | 4.8 | 7.79 |
| 2024-07-16 | 4.62 | 4.67 | 4.76 | 7.79 |
| 2024-07-17 | 4.47 | 4.61 | 4.75 | 6.61 |
| 2024-07-18 | 4.62 | 4.72 | 4.85 | 7.78 |
| 2024-07-19 | 4.62 | 4.72 | 4.81 | 8.96 |
| 2024-07-20 | 4.67 | 4.82 | 4.95 | 8.96 |
| 2024-07-21 | 4.57 | 4.72 | 4.86 | 8.96 |
| 2024-07-22 | 4.62 | 4.77 | 4.96 | 10.16 |
| 2024-07-23 | 4.77 | 4.87 | 4.96 | 11.37 |
| 2024-07-24 | 4.67 | 4.77 | 4.91 | 10.15 |
| 2024-07-25 | 4.77 | 4.92 | 5.12 | 12.57 |
Filecoin Price Prediction 2025
According to our analysis conducted via our Machine Learning Model,Filecoin is forecasted to achieve its peak value in 2025 at approximately $12.7, while potentially dipping to a low of $7.09. The average trading value during this period is projected to hover around $11.22.Filecoin Price Prediction 2026
In 2026, Filecoin is anticipated to potentially reach its peak value of $18.56, with a possible lower value of $9.52. The average trading value for this period is estimated to be approximately $16.15.Filecoin Price Prediction 2027
As we look ahead to 2027, the trajectory of the Filecoin coin may offer investors unexpected turns. Projections suggest peaks hitting $29.7 and lows stabilizing around $15.06, with an average trading value resting near $27.14.Filecoin Price Prediction 2028
In the upcoming year of 2028, investors may witness noteworthy fluctuations in the value of the Filecoin coin. Projections point towards a maximum value of $41.97, a minimum of $22.68, and an average value of approximately $38.02.Filecoin Price Prediction 2029
Our market analysis indicates optimistic prospects for the Filecoin crypto in 2029, with projected peaks at $62.45 and floors at $32.07. Moreover, the average trading value of this coin is anticipated to hover around $54.69.Filecoin Price Prediction 2030
In 2030, our crypto analyst team and Machine Learning experts envision a varied outlook for the Filecoin token. Projections indicate highs near $86.21, potential lows around $49.63, with an average value of about $75.84.Following the presentation of our forecast table, we provide users with convenient procedure links, offering insight into the comprehensive steps taken to derive our predictions. These resources afford transparency into our analytical process, detailing methodologies, data sources, and algorithms used to formulate forecasts, empowering users to grasp the intricacies behind our predictions.
Forecast Based on Technical Analysis
Bitcoin's 50-Day, 200-Day Simple Moving Averages and 14-Day Relative Strength Index - RSI (14)
Both the 200-day and 50-day Simple Moving Averages (SMA) are forecasted to rise, with the former expected to reach $4.55 by the Jul 01, 2024. The Relative Strength Index (RSI) stands at 0.5972, indicating a Fall market stance. Overall, while the long-term forecast is Buy.
About fil
Filecoin Price Prediction FAQ
Kshitez Pratap Singh
Kshitez Pratap Singh possesses deep expertise in data analytics and machine learning. He excels at deriving actionable insights from complex datasets. Kshitez combines his analytical skills and machine learning knowledge to develop models that support data-driven decision-making, helping businesses and investors navigate and thrive in the finance niche.
Mohit Kumar
Mohit Kumar is a computer science engineer with a specialization in Artificial Intelligence and Machine Learning (AIML). he has honed his expertise in developing sophisticated machine-learning models tailored for the financial sector, exploring various aspects of forecasting and statistical modeling to provide invaluable insights for informed investment decisions in the volatile world of cryptocurrencies.
Sentiment: Buy
The Filecoin is predicted to surge by 11.09% to $4.82 by Jul 09, 2024, though current indicators show a Bullish sentiment with 13 out of 30(43%) green days and a notable -23.41% price volatility over the past month.