ICON (ICX) Price Analysis: ICON’s Triangle Trap is Pushing the Coin to Bear’s Claws

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ICON (ICX) is a decentralized and anonymous blockchain network which provides an option to transact between the communities of independent chains. The main aim of the network is to make the divided blockchain ecosystem into one with the help of its protocol and community-building initiatives. Major sectors which rely on ICON (ICX) include securities, currencies, loans, intellectual property, and personal authentication. This process is also known as Incentives Scoring System (IISS).

Current Statistics-

ICON

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  • ICON (ICX) is the 39th largest crypto coin in the global market.
  • The ROI stands at negative 12.84 %.
  • A total of 473,406,688 ICX coins are in supply.
  • The market cap as on 27th April at 03:24 UTC is 168,696,582 USD.
  • The value of each coin is 0.356346 USD and 0.00006784 BTC.
  • The 24 h volume stands at 8,788,330 USD at the same UTC.

Comparison-

ICON started the year at 0.25 USD. It has gone through any inconsistent phases and the lowest point was on February 6th when it was at 0.182 USD. The highest growth was achieved after 1st April when ICON gained around 20 % in just 3 days. The current value of each ICON coin is the reflection after the 1st April push. The market cap on 27th March was 149,112,481 USD. And the value of each coin was 0.314978 USD and 0.00007952 BTC. The current market cap and the value of each coin are 13.13 % more than the past month’s indices.

Prediction-

ICON (ICX) has been showing gradual growth for the last 100 days. The current value of each coin is traded at 0.35 USD. We predict the value to rise further. IN the short term the value may reach as high as 0.5 USD making a perfect avenue for a bullish run. The medium-term outlook is also bright and bullish. By the end of 2019, the value should rest at 1 USD. Long term outlook is what everyone fond of. By the end of 2020, the value is predicted to be at 5 USD. But the investors should be aware that the growth rate will not be happening at a straight line. There will be some major ups and down in the future course of this coin.

Conclusion-

We advise the short term investors to be vigilant before making any transactions. This may not be a good time to speculate the price. The long term investors will be profited by a huge margin by sticking to their holdings until the end of 2020. This may give them more than 10 times the current value of the investment.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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