Biconomy (CCC:BICO-USD), one of the largest Canadian cryptocurrencies in the world, is in the midst of a major correction. Indeed, the BICO crypto is down nearly 50% today as its recent Coinbase (NASDA:COIN) listing couldn’t keep it up for long. Biconomy price predictions are hot today as the crypto steadily becomes a cheap entry way into a potential metaverse titan.
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Biconomy enjoyed the “Coinbase effect” after being listed on the massive exchange on Dec. 1. Indeed, the crypto saw its listing price of $5 skyrocket up to its all-time high of $21 one day later. However, it seems the party’s over now. BICO is falling fast today, and it’s currently back down to $7.47 per token.
BICO seeks to solve several procedural issues that plague blockchain transactions. The Biconomy infrastructure network utilizes user-friendly software development kits and APIs that allow even crypto novices to interact with other blockchains with ease. Furthermore, the project’s website comments on the goal:
“Web3 applications today face major roadblocks to user adoption in the form of terrible user onboarding and transaction experience. There are various bottlenecks in the transaction experience: Necessity to pay a gas fee every time the user uses your application. Users can only pay in ETH, which they may not have at that moment. Or the user may not want to spend their ETH investment. New users have a long complicated onboarding process … Our aim is to simplify transactions by handling blockchain-related complexities 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 that will affect its price.
Biconomy Price Predictions: Optimistic Outlooks at Odds With Today’s Drop
It should be noted that with a crypto as new as BICO, especially given it was only recently added to many major exchanges, its price will likely remain volatile.
- The technical analytics at DigitalCoinPrice have BICO surging in the near term and seeing consistent growth in the long run. It predicts a price of $13.07 within a 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 Biconomy is destined to sky rocket. Within a year, it estimates the token will be sitting at $41.07. By two years, it set a price target of $73.38, and after five years, it could shoot up to $150.60
On the date of publication, Shrey Dua did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.