Filecoin (FIL) Price Prediction in 2025: F3 Upgrade to Accelerate Finality by 450x

Key Takeaways

• Filecoin is a decentralized, blockchain-based cloud storage platform, and FIL is its native token.
• Filecoin (FIL) has not performed well in 2024, falling more than 40% since the start of the year.
• Our price prediction says it could fall to $0.76 next year.

After peaking above $10 in March, Filecoin (FIL) has been on a downturn. The crypto’s price has declined by over 50% since then.

Investors will be hoping the F3 upgrade  can help raise FIL’s price.

On Sept. 30, 2024, FIL was worth about $4.

Let’s now examine our price predictions for Filecoin, made on Sept. 30, 2024. We will also examine the Filecoin price history and discuss what FIL is and does

Filecoin Price Prediction 

Here are the FIL price predictions from CCN on Sept. 30, 2024. Price forecasts, especially for something as potentially volatile as crypto, should be taken cautiously. Our Filecoin crypto price predictions will use the wave count method to predict its future movement.

We will add and remove 20% from the target price to provide a range of possible outcomes, resulting in minimum and maximum FIL price predictions.

The FIL price completed an A-B-C corrective structure between December 2022 and February 2024. This is eerily similar to that of 2020-2021. What followed afterward was a long-term five-wave decline that culminated with the all-time low price of $2.41.

A similar downward trend transpires in the current movement, though FIL has only completed wave one of this decline (black) and is now in corrective wave two. We can use the 1.61 lengths of wave one to figure out the bottom for wave three and then give wave five the same length as wave one.

Doing so and projecting the same duration for the decline as for the preceding downward movement leads to a low of $0.62 in Nov. 2025. Before falling to this target, the Filecoin price prediction for the end of 2024 is $3.80.

Then, we can project a similar corrective bounce as to the one that happened at the start of 2023. Doing so will give us a target of $0.95 by the end of 2025.

We use the daily rate of decrease for the past two years to make a Filecion price prediction for the end of 2030. Since September 2022, the FIL price has fallen at a rate of 0.27% per day. Projecting this decline until the end of 2030 gives our Filecoin price prediction of $0.45.

FIL Price Prediction for 2024

Our Filecoin price predictions give a target range between $3.04 and $4.56 for the end of 2024.

FIL Price Prediction for 2025

Our Filecoin price predictions give a target range between $0.76 and $1.14 for the end of 2025.

FIL Price Prediction for 2030

Using the daily rate of increase for the past two years, we arrive at a Filecoin price prediction of $0.35 to $0.55 for the end of 2030.

Filecoin Price Analysis

The daily time frame chart FIL analysis shows that the price broke out from an inverse head and shoulders pattern on Sept. 26.

If so, it currently validates the neckline as support (white icon).

A successful breakout that travels the entire pattern’s height can take FIL to the $5.60 resistance area, a temporary stop on the way toward the $6.90 long-term resistance. 

Unlike the weekly time frame, the daily Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) support this upward movement since both are increasing and above their bullish thresholds at 50 and 0.

Short-Term Filecoin Price Prediction

The FIL price prediction for the next 24 hours hinges on a successful breakout and an increase toward the $5.60 resistance area. 

If this happens, the price will increase throughout October.

Filecoin Average True Range (ATR): FIL Volatility

The Average True Range (ATR) measures market volatility by averaging the largest of three values: the current high minus the current low, the absolute value of the current high minus the previous close, and the absolute value of the current low minus the previous close over a period, typically 14 days.

A rising ATR indicates increasing volatility, while a falling ATR indicates decreasing volatility.

On Sept. 30, 2024, the ATR for FIL was 0.057, a sign of low volatility. The ATR has fallen since 2021.

Filecoin Relative Strength Index (RSI): Is FIL Overbought or Oversold?

The Relative Strength Index (RSI) is a momentum indicator traders use to determine whether an asset is overbought or oversold.

Movements above 70 and below 30 show over and undervaluation, respectively.

Movements above and below the 50 line also indicate if the trend is bullish or bearish.

On Sept. 30 2024, Filecoin’s RSI was at 41, a sign of a bearish trend.

Best Days and Months to Buy FIL

We examined the FIL price history and found the lowest prices on certain days, months, quarters, and even weeks in the year, indicating the best times to buy FIL.

Filecoin Price Performance Comparisons

Advantages and Disadvantages of Filecoin

Blockchain analytics company Messari  recently released its quarterly report on Filecoin. In it, the company outlined some key advantages and disadvantages of the blockchain.

They found that in the second quarter of 2024, it had

• 1,700 active storage deals, up year-on-year from 1,000 but down quarter-on-quarter from 1,900.
• An average of 2.4 new daily deals, down from 4.7 year-on-year and down from 3.3 quarter-on-quarter
• Revenue of $4 million, down from $11.5 million the previous year but up from $1.6 million the previous quarter.
• Storage utilization of 26.4%, up from 7.6% the previous year and up from 22.9% the previous quarter.

Advantages of Filecoin

Messari says that Filecoin

• Has been able to help early-stage projects.
• Had some notable clients.
• Is actively developing a community of storage users and providers.

Disadvantages of Filecoin

Messari also says that Filecoin

• Saw a slowdown in daily deals.
• Could experience storage capacity issues in the future.
• Had falling revenue year-on-year.

FIL Price History

Let’s now examine the Filecoin price history . While past performance should never be taken as an indicator of future results, knowing what the token has done can help give us useful context when making or interpreting a Filecoin price prediction.

Filecoin Market Cap

The market capitalization, or market cap, is the sum of the total number of Filecoin in circulation multiplied by its price.

On Sept. 30 2024, the Filecoin market cap was $2.3 billion, making it the 40th-largest crypto by that metric.

Who Owns the Most Filecoin?

On Sept. 30 2024, one wallet held nearly 40% of Filecoin’s supply.

Richest FIL Wallet Addresses

As of Aug. 2, 2024, the five wallets with the most Filecoin  were:

• f02. This wallet held 771,382,684 FIL, or 38.57% of the supply.
• f090. This wallet held 282,933,381 FIL, or 14.15% of the supply.
• f086971. This wallet held 70,295,119 FIL, or 3.51% of the supply.
• f047684. This wallet held 62,785,249 FIL, or 3.14% of the supply.
• f0121. This wallet held 53,048,732 FIL, or 2.65% of the supply.

Filecoin Supply and Distribution

From the Filecoin Whitepaper

Filecoin’s whitepaper , a technical document that explains the platform’s purpose and actual operations, says the network is designed to take advantage of changes to the internet, with people looking for more control and privacy.

It says: “Filecoin is a decentralized storage network that turns cloud storage into an algorithmic market. The market runs on a blockchain with a native protocol token (also called “Filecoin”), which miners earn by providing storage to clients. Conversely, clients spend Filecoin hiring miners to store or distribute data.

“As with Bitcoin, Filecoin miners compete to mine blocks with sizable rewards, but Filecoin mining power is proportional to active storage, which directly provides a useful service to clients.”

Filecoin (FIL) Explained

Filecoin is designed to help people use cloud storage on the blockchain. The idea is that, since The Cloud is, in effect, a decentralized network where people can access their files from any device with an internet connection, then, logically speaking, it makes sense for the organization of the network also to be decentralized. 

Founded in 2014 by California-based crypto entrepreneur Juan Benet, Filecoin was originally a InterPlanetary File Network storage system sidechain. In 2017, though, it held an initial coin offering (ICO), and in 2020, its mainnet launched. Filecoin is supported by its native token, which goes by the ticker handle FIL. 

How Filecoin Works

Filecoin uses a consensus mechanism called Proof-of-Spacetime. According to the Filecoin whitepaper, Proof-of-Spacetime features blocks created by miners who store data in them. This allows the protocol to provide data storage and retrieval in a decentralized manner.

Clients pay to store and retrieve data, while storage miners can earn FIL by offering storage. Retrieval miners earn FIL by retrieving data. FIL can also be bought, sold, and traded on exchanges, and it is used to reward miners.

Is FIL a Good Investment?

Filecoin has suffered over the last two years, losing more than 95% of its value since the Spring of 2021. While it initially looked like it would shrug off the SEC, which apparently classified it as an unregistered security, the regulator’s lawsuit against Binance and Coinbase threw it back into the spotlight. Nevertheless, it is still comfortably in the top 50 cryptos by market cap and is not without its fans. We must see how the market reacts and if it recovers over time. 

Will FIL go up or down?

Nobody really knows right now. While many price forecasts are broadly optimistic, at least in the longer term, price forecasts are often wrong. Remember, too, that prices can and do go down and up. 

Should I invest in FIL?

Before investing in Filecoin, you will need to do your own research on FIL and other similar cryptos, such as Storj Labs (STORJ). The most important thing is never to invest more money than you can afford to lose. 

Technical analysis by Valdrin Tahiri.

FAQs