Biconomics (CCC:FCOM-USD), one of the largest Canadian cryptocurrencies in the world, is in the midst of a major correction. Indeed, the BICO crypto is down almost 50% today as its recent Coinbase (NASDA:PIECE OF MONEY) the list could not keep it for long. Biconomy price predictions are hot today as crypto gradually becomes a cheap entry route into a potential metaverse titan.
Biconomy profited from the “Coinbase Effect” after being listed on the massive stock exchange on December 1. Indeed, the crypto saw its listing price of $ 5 skyrocket to an all-time high of $ 21 a day later. However, it looks like the party is over now. The BICO is falling rapidly today and it is currently back down to $ 7.47 per token.
BICO seeks to resolve several procedural issues that plague blockchain transactions. The Biconomy infrastructure network uses user-friendly software development kits and APIs that allow even crypto novices to easily interact with other blockchains. Additionally, the project website comments on the goal:
“Web3 applications today face major barriers to user adoption in the form of terrible integration and transaction experience. There are various bottlenecks in the transaction experience: Need to pay gasoline charges every time the user uses your app. Users can only pay in ETH, which they might not have at that time. Or the user may not want to spend their ETH investment. New users have a long and complicated onboarding process… Our goal is to simplify transactions by handling the complexities of blockchain under the hood.
BICO seems to have a bright future in the next generation of web development. However, let’s see if the experts agree on how this will affect its price.
Biconomy price predictions: optimistic outlook at odds with today’s decline
It should be noted that with a crypto as new as BICO, especially since it was only recently added to many major exchanges, its price will likely remain volatile.
- DigitalCoinPrice technical analyzes drive BICO up in the short term and experience steady growth in the long term. He predicts a price of $ 13.07 within one year and $ 15.70 after two years.
- PricePrediction is also bullish on BICO. The platform has a 2022 price target of $ 11.44 and a 2023 target of $ 17.12, based on technical analysis.
- Gov Capital believes that Biconomy is destined to skyrocket. Within a year, he estimates the token will rise to $ 41.07. Within two years he set a price target of $ 73.38, and after five years he could hit $ 150.60.
As of the publication date, Shrey Dua does not have (directly or indirectly) any position in any of the stocks mentioned in this article. The opinions expressed in this article are those of the author, subject to the publication guidelines of InvestorPlace.com.