Is it too late to buy Filecoin? The FIL price predictions of crypto experts
FIL, which is the ticker for Filecoin cryptocurrency, which powers Filecoin’s decentralized storage protocol blockchain protocol, has taken a break in recent days, after experiencing impressive gains earlier this month. FIL/USD traded at $7.75 last time, more than 18% lower than the previous monthly highs of $9.50, but the cryptocurrency is still higher by nearly 50%.
Filecoin’s explosive rally this month follows the announcement by the developers of layer-1 blockchain protocol the launch date for the Filecoin EVM. Upgrade due by the 14Th March will bring smart contract programmability to Filecoin’s mainnet. This should accelerate the protocol’s adoption.
What’s Next for Filecoin
FIL/USD could easily drop back to $7.0 if there is not enough support. You should also be aware of the $6.50 level in November 2022 and the $5.80s area in February.
The bulls are likely to remain in control of FIL in the medium term, following FIL’s breakout from a downtrend linking highs dating back to October last year. FIL/USD could bounce easily from any of these support levels with bulls aiming for an eventual test at the August 2022 highs of $11.40.
Experts predict Filecoin’s future price
Popular crypto YouTuber Cilinix Crypto believes Filecoin will remain bullish as it heads to Filecoin’s EVM launch on the 14thTh It was noted that the March rally could be as low as $7.50.
VirtualBacon, a popular YouTuber for crypto, stated that Filecoin protocols will be key players if the decentralized internet grows. VirtualBacon stated that he believes Filecoin can be lifted by a narrative, but he doubts it will reach its historic highs of $237 in 2021.
Is it too late to buy FIL?
It’s never a good idea to ask whether it is too late for an asset to be purchased. It is the right question to ask whether an asset should or shouldn’t be purchased. It all depends on how the investor views its long-term performance.
It is worth investing in FIL if you believe that FIL has a high risk-reward ratio at current prices, and that it is likely to increase in value in the future, according to your research. This is regardless of how the token has performed in recent years. FIL is not worth the risk.
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FIL Alternatives to Take into Account
FIL’s…. FIL’s… The following list contains the top 15 most popular cryptocurrencies in 2023. We have reviewed the best candidates. Cryptonews Industry Talk team.
This list is updated every week with new altcoins or ICO projects.
Disclaimer: The Industry Talk section contains insights from crypto industry players, and is not part of Cryptonews.com’s editorial content.