Internet Computer (ICP) retraced 96% the best of all time • CryptoMode

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There are various projects and companies in the cryptocurrency industry. Some of this work has been more successful than others, but this is relatively normal. Unfortunately, things continue to look very bleak for Internet Computer (PCI) fans. Its initial price momentum is faltering and new all-time lows are occurring every day.

Internet computing momentum seems over

The concept of Internet Computer (ICP) is still quite interesting. The world’s first blockchain to build frictionless An ambitious label with web speed and scalability similar to the internet. Since blockchain often struggles to evolve significantly, enthusiasts responded to the ICP team’s claims with initial enthusiasm. But that excitement is almost gone and ICP prices are dropping day by day. The project appears to be getting worse just weeks after its launch.

The ICP team will build a tokenized mass market social media service through smart contracts. Additionally, they see a future in which blockchain will rival the power, speed, and scale of the World Wide Web. It’s not impossible on paper, but in reality things are often very different. Its native smart contract language Motoko and its node machines (custom hardware to manipulate network nodes) have yet to get many people excited.

Source: TradingView

As is often the case, when momentum goes in the wrong direction, many affirmations and half-truths arise. Reddit is full of submissions, including the Dfinity team who created the idea of ​​internet computers. Sale of 90 million tokens Over the past few weeks. For some it is not always necessary, but it shows that Internet computers have become another scam project. All new altcoins lose great value after the first few days and ICP makes no difference in that regard.

The team may be ambitious, but most cryptocurrency users only care about the speculative nature of ICP tokens. Unfortunately, the token has undergone a very rapid correction since its release, which is not entirely unusual. Many were hoping to hit a record high of $ 700.65 in early May, but they are unlikely to hit that level again. Internet computers entered the top 20 in terms of market capitalization, but were unable to maintain their initial momentum for a long time.

What comes next?

For most cryptocurrency projects, falling prices like internet computers are doomed to death. However, the Dfinity team will keep that promise regardless of the current price dynamics. Construction technology takes time and effort, but there’s not much you can do if the investor is already cashing in. So even if something strange happens, it’s very likely that the price won’t stay at $ 29.

For some speculators this low ICP price is a good time start Average cost in dollars. The DCA method works well with cryptocurrencies and other financial assets that people like to invest in. Lowering the average purchase price increases the potential for profit. However, it is not clear whether internet computer chip prices will pick up in the coming weeks or months.

As long as the crypto market remains in this bearish slowdown, there is no real chance that prices will recover. Bitcoin prices continue to fall, pulling everything else down. Only stable coins can hold the pegs, but there are slight price fluctuations that require special attention. No one knows what the future holds for Internet computers and PKI, but this bear market is of no benefit to the project.

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The Internet Computer (ICP) source link traced 96% of the best ever recorded • CryptoMode


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