- Analyst Ben Armstrong says ICP will be the number one coin for the bull market.
- ICP has gained 48% since the beginning of 2023.
- The price of ICP has broken a strong resistance, converting it to support.
Cryptocurrency analyst Ben Armstrong predicts that the Internet Computer Protocol token, ICP will be the number one coin for the bull market. He also confirmed that it has been the top performer in his portfolio since he bought the token.
ICP’s performance has been remarkable since the beginning of 2023. On the first day of the year, the ICP price opened at $4.020. Since then it has sustained a steep movement to the upside, gaining over 48% as of the time of writing. This leaves the price at $5.950 with even more upside potential.
At the current level, ICP sits above a previously strong resistance at $5.804, which is now a support to bounce from should there be a pullback. This price development provides more evidence for Armstrong’s prediction and gives the community the confidence to expect ICP’s price to go higher.
ICP is the native currency of the Internet Computer Protocol, a blockchain project designed to enable decentralized Web3 services. The project features a simplified interface that allows anyone to create decentralized applications.
The ICP token is used to facilitate governance on the network. It also serves as a unit for compensating nodes that maintain the network via computations and serves as a reward element for participants that engage in the network’s ecosystem.
Armstrong is the founder of Bitboy Crypto, a website dedicated to educating and informing the public about Bitcoin and cryptocurrencies. He is also the author of the book “Catching up to Crypto: A guide to Bitcoin and the new digital economy”. He is also popular for making analyses and predicting trends for various cryptocurrencies as he deems fit.
Armstrong’s predictions are a mixture of hits and misses, as indicated by some of the responses under his tweet.
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