Filecoin (FIL) price prediction for 2021, 2022, 2023, 2025, 2030

Filecoin's features

Filecoin is a decentralised storage market — think of it like Airbnb for cloud storage — where anybody with extra hard drive space can sell it on the network. — Juan Benet

The Filecoin network is built on IPFS, a distributed storage system that connects a network of peer-to-peer nodes. Each node, in turn, stores only a fraction of the entire system's shared files. As such, IPFS provides data storage, and the Filecoin network allows users to rent out available space on a computer's hard drive in exchange for a reward in FIL cryptocurrency.

Miners play a key role in keeping the Filecoin network up and running. Decentralised storage users pay Filecoin to miners to store, retrieve and distribute data. The size of miners' commissions is determined by the supply and demand for data storage and the user-selected transfer rate.

There are two types of miners on the Filеcoin network:

Storage miners provide their hard drives for user data. The probability of getting a block reward depends on the amount of disk space the miner provides to the network, not on the hashing power.

Retrieval miners extract and provide files to users outside of the Filecoin blockchain.

Here's how the Filecoin network functions. Customers place a storage claim at a specified price with a specific replication factor in the Storage Market. There, they agree to a deal with storage miners and transfer their hashed data to those miners. Storage miners place files on their disk space, which is recorded in the blockchain. The client is then provided with private keys to the files. To ensure a higher level of security, user files are stored simultaneously by several miners. Miners add a deposit to the system, which they can lose if the Internet connection is broken or they can't confirm the data storage.

To receive the data back, the client places an order on the Retrieval Market and concludes a deal with the receiving miner, who returns the data for a fee.

Filecoin uses two unique consensus algorithms to ensure that miners comply with the network's rules:

Proof-of-Spacetime is what happens when generating a block: the network verifies that the miner actually stores data for the required period of time.

Proof-of-Replication confirms that miners keep the stated number of file copies.

Filecoin (FIL) price prediction for 2021, 2022, 2023, 2025, 2030

Well-known crypto experts couldn't ignore a cryptocurrency as popular as Filecoin. Let's take a look at what they think about its future.

Trading Beasts' FIL price prediction for 2021, 2022, 2023, 2025, 2030

Trading Beasts predict a slow decline in FIL's price until 2022. After that, it will begin to rise steadily, and, by the end of the year, the price will have traded as high as $100. This growth will continue in subsequent years, but not at an exponential rate. They estimate the coin will be priced at $150 by the end of 2024.

WalletInvestor’s FIL price prediction for 2021, 2022, 2023, 2025, 2030

WalletInvestor is a little more optimistic about the prospects for FIL. According to their estimates, the token will cost over $120 in 2022. They expect this trend to continue in the future, with the price reaching $363 by the end of 2025.

Long Forecast's FIL price prediction for 2021, 2022, 2023, 2025, 2030

Long Forecast agrees with Trading Beasts that the price will decline until November, but that's where it ends. However, their price prediction for 2022 is quite bearish, with FIL pricing levels even below $35. According to Long Forecast, the price will be $53.80 by the end of 2021. The downtrend will continue next year, and the price will reach $as low as $32 in 2022. Only in 2023 do they predict that FIL's price will begin to improve, reaching as high as $100.00. In 2024, the price will keep rising, and new highs will form at around $120.

DigitalCoinPrice’s FIL price prediction for 2021, 2022, 2023, 2025, 2030

DigitalCoinPrice also predicts a rise in the coin's price but is more cautious in its optimism than Long Forecast. Their forecast sees the token being worth as much as $127 in a year, $150 in 2 years, $252 in 5 years, and $315 in 7 years.

Filecoin (FIL) overall future value predictions in general

Data storage is a promising and growing market, and Filecoin has many advantages over its competitors in the industry. In addition, experienced developers are working on the project, and fairly large investors have invested in it.

However, don't forget that the project has serious competitors, both centralised and decentralised, who were early comers to this market and are unlikely to sit idly by. Unfavourable circumstances on the crypto market can cause the token's price to drop, even if everything is going well for the project itself.

Will Filecoin go up?

We think this is quite possible. Most crypto experts also believe that the token will grow in value in the future.

How high can FIL go?

Given the favourable development of events, $130 is a realistic price. In even more optimistic scenarios, we might see the price rise to $195 and possibly even exceed the all-time high in a few years.

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