Price Analysis

Icon (ICX) Price Analysis: Investors Are Bound To Respect The Roadmap of Icon After It Gained Momentum Once Again

Icon like many other cryptos is a decentralized blockchain network that is purposefully developed for facilitating interoperability between the communities of independent chains. It is aimed to provide a framework for a web of chains that will comprise of organizations and enterprises belonging to bank, education and healthcare sectors. It uses an AI-based component for reward distribution and governance. This process is termed as Incentives Scoring System (IISS).

Current status of ICX

ADA is currently getting traded at USD 0.390940 (UTC time 04:01). With a market cap of USD 185,073,668 and a circulating supply of 473,406,688 ICX, it is the 38th largest cryptocurrency in the world.

Price analysis of ICX

ICONThe above chart shows that ICX is currently getting traded at 0.388104 USD or 0.00007145 BTC (UTC time 04:04). Its current market cap is worth of 183,731,079 USD with 15,334,970 USD as its 24h volume. The same chart shows that approx. One month earlier, ICX had a trading value of 0.431784 USD. So, within this period, the value of ICX has been deterred by -10.11%.

Future price prediction of ICX

It was one of the most hyped projects back in 2018 with huge expectations pinned to the ‘Korean Ethereum.’ ICX possessed a consistent bearish grip in 2018 and the whole year was marked as devastating for this crypto. Initially, at the beginning of 2018, ICX was as worth as $12 per coin but, later it plunged deep in dismay, and it started trading around as low as $0.24/token. Its developers faced a turbulent situation due to their lack of efficiency skills, endeavor, and commitment. Although some partnerships were made last year, that was strong enough to retain the prestige of ICX.

Later, with a rebranding strategy, the company behind ICX changed its corporate name and corporate image of the loop associated with ICONLOOP. Its developers solidified its foundation with full expansion and innovation of ICON ecosystem. Currently, its developers came up with the news of its updates and developments for 2019, and it is expected to enhance the transparency in this project and fostering the growth of this crypto. The new roadmap is divided into 3 sections. These are governance, blockchain technology and services relied on ICON. The blockchain area comprises of various developments like loopchain, T-Bears, Icon service, Interchain-BTP, and Parallel Processing. ICON is aimed to use Score infrastructure for its governance. There are various other features included in their roadmaps, and these are highly impressive.

Now, the question is, how far it can go with these? We expect, if its developers are true to their words, this year can be a turnaround for ICX, and it can revive once again. Again, we must not forget the intense volatility that it’s still prevailing. So, with all these, we think, if everything meets the expectations, then ICX can be trading around $4.99-$5.00 by the end of this year.

Conclusion

We cannot assure of the fact if it is really worth in investing on Icon, but, we suggest, to wait and watch its updates and launch of the same and, then, take decisions accordingly as per its performances.

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David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.
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