Is Filecoin Expected To Reach $1000 Or More In The Next 5 Years?

Last Updated January 14th 2022

6 Min Read

Will Filecoin prices rise again? Is it expected to reach $10,000 or more in the next five years? These are some of the questions that every medium to long-term cryptocurrency investor is asking right now.

Filecoin is a cryptocurrency project which attempts to address the current issues being faced by various enterprises in storing data effectively. Filecoin can be used as a safe means of storage for both personal and enterprise-level information. This critically acclaimed token was created by Protocol Labs, a US-based software company that has developed numerous other tech projects.

The project is still in its infancy stage, but it has already generated a great deal of interest among digital currency enthusiasts. It offers rewards to people who are storage nodes on the network through mining efforts. This ensures that there are incentives for people to hold onto their tokens and have no reason to liquidate them at any given point in time.

Filecoin has a market cap of around $4.2 billion. And while this places it among the top 30 cryptocurrencies, it might still take a pretty long time before FIL can finally hit $1,000.

But what are the odds of this happening? We will show you in a bit. But first, let's look at the current market standing.

Filecoin Current Price Analysis

As already mentioned, Filecoin is currently trading at $28.62 after shedding around 5% in the last 24 hours. It is important to note here that the cryptocurrency market has seen a bit of an upswing in the past couple of days. However, it still remains way below its recent highs.

Filecoin is still a relatively new project and does not have a very large user base. That means it can be easily influenced by the sentiment that prevails in the crypto world at any given point in time.

The asset has recorded a 24-hour trading volume of around $566 million and shows good signs of doing better in the next few days. However, we might not see a price surge any time soon as FIL has consolidated between $26 and $41 per coin for more than a month now.

Although the last few days have shown some positive signals, it is safe to assume that Filecoin is not in a hurry to break past the $50 barrier.

However, considering that the coin has an all-time high figure of more than $230, anything can happen as the year closes in. And while we don't want to make any guarantees, the decentralized storage platform might have a bright future.

But will FIL reach $1,000 in the next 5 years?

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

So, Will Filecoin Reach $1,000?

Filecoin has seen tremendous growth in the past few years. As things stand, it grew by almost 65% in 2021.

This shows that Filecoin has all the credentials to grow quickly and maybe reach $1,000 in the next five years. However, we need to be upfront here; There is a slim chance of this happening.

As a matter of fact, it might take several years for Filecoin to achieve this milestone. And by the time it does, we might even see a couple of other players in the market going towards $1,000 as well.

However, there is no doubt that Filecoin has all the building blocks required to become a major player in the market. And that's why we can say with near certainty that it will be among the top cryptocurrencies within five years at least.

But you shouldn't expect any surprises here. Speculators who are looking for short-term gains should avoid investing in this asset as there is no scope for anything but long-term growth.

While we admire being hopeful about the future of Filecoin, there is a very good chance that you will wrinkle trying to wait for it to reach $1,000. But again, anything is possible in the crypto space. Bitcoin has proved that beyond any reasonable doubt.

For this reason, even the wildest speculations are accommodated.

Don't Miss: Is Filecoin A Good Buy?

Will Filecoin Eventually Reach $5,000?

Filecoin reaching $1,000 is already wildly bullish speculation. What about $5,000? Well, that might seem like a distant dream currently. However, with the speed at which cryptocurrencies are growing right now, anything is possible.

Even though Filecoin is not among the top 10 coins yet, it grew by almost 65% in 2021. If this growth rate continues in 2022 and beyond, you are looking at an asset that could easily hit $5,000 in five years.

And there is a very good chance of this happening considering the scalability potential of the decentralized storage platform.

But we choose to remain conservative here. Even with the bewildering possibilities in the crypto market, $5k is a pretty long shot.

Take Ethereum, for instance; it is the second most valuable crypto by market cap and has a pretty solid user base. However, Ethereum has struggled to go beyond $5,000 per token.

This means that Filecoin has even bigger hurdles to beat. If the asset were to attain a price of $5,000 in the next several years, this would drive its market cap to a staggering $592 billion, which is more than that of Ethereum right now.

This will definitely make it one of the biggest cryptos out there. And if this does happen, we can safely assume it will list among the top five cryptocurrencies.

What Will Filecoin Be Worth In 2030?

Filecoin is not going to stop at $1,000. This means that it is actually worth considering the idea of this coin hitting triple digits in the next few years.

It might sound far-fetched right now, but you have to keep in mind that everything is possible in the crypto market. Take Bitcoin, for instance; nobody even imagined that it would go beyond $10,000.

However, it has already hit a price of more than $65k and is soaring towards $100k at the time of writing this article. So, even if Filecoin might not be able to match Bitcoin's trajectory in terms of growth, we can safely assume it will enjoy decent growth.

By 2030, we can expect Filecoin to be among the top cryptocurrencies and perhaps a leading player in the decentralized storage space. Unfortunately, given the unpredictability of the crypto market, we can't pinpoint the exact worth of Filecoin in 2030. But there is a very good chance of it hitting $1,000.

This kind of growth will be informed by a number of factors, the biggest of which is the scalability potential of the decentralized storage protocol. If this proves to be as effective as its developers hope it to be, you are looking at an asset that could easily make it big in the market.

Check Out: Will Filecoin Make Me Rich?

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Conclusion: Will Filecoin Reach $1,000?

Filecoin is definitely not a short-term investment. If you are looking for quick profits, this is clearly not the asset to go with.

So what about long-term returns? Will it really make sense to invest in Filecoin right now?

It might seem like an overly ambitious prediction, but considering the scalability potential of the decentralized storage platform, we can safely say that Filecoin will be worth $1,000 and might even reach up to $5,000 within 5 to 10 years.

This kind of growth will only be possible if the developers behind this project make good on their promises and ensure that their developments live up to expectations. But as optimistic as we are, we recommend doing your own research and never invest more than you can afford to lose.