The second question that traders might have is what is the likelihood of a price surge happening with LCX tokens. There are actually several factors that might affect this and it’s difficult to predict with any certainty. However, there are some important things to keep in mind when considering this question. For starters, ICON has successfully created partnerships with big names like Samsung Electronics and Wanchain which could incentivize traders to buy into their token for future speculation. In terms of which direction we think it will go, well that’s up for debate but let’s take a look at some possibilities.
What is the Price Target for LCX?
$1.34 is the price target from one analyst, who I really like and who has been correct in his previous predictions. He uses a technical analysis method called “countdown” which he’s been using since 2012 to predict development price surges for cryptocurrencies like Bitcoin, Ethereum, etc. Another analyst made a prediction using the Elliot Wave Theory which advises to “Buy Crypto when it is Going Down” based on the observation that V-shaped recoveries are very common in crypto markets.
i like dis .. #LCX seems as its a bull flag 👀👀🍺 revamp of Exchange very soon .. regulation is coming. $xrp $xlm $iso20022 pic.twitter.com/Qnze8zoEFr
— todor.iso marine (@PawfectE) August 6, 2022
Some analysts are looking at the chart and seeing double bottoms, which theoretically means we could see price surges over $1.50 in the future. Regardless of how you see it, I won’t try to predict when it will occur but I’ll instead do my best to describe when I think a surge is more likely.
What Factors Could Affect LCX Token Prices?
One of the main factors that could affect future price surges is the hard cap on this ICO. The hard cap is $45 million and it will be difficult to reach that target. From what I’ve read so far, they’ve already finished with their private sale. So that means sales for public investors will only amount to 5%. In addition, from what I have read, ICX tokens are already trading on various exchanges such as Binance, OKEx and Huobi. So it’s possible some investors may have already bought in during this token sale just for short term gains.
When is a Surge Likely?
It’s a bit difficult to say since there are so many factors that contribute to price surges and there has never been an LCX token surge for that matter so we can’t really make any predictions based on history, particularly since it took Bitcoin years and years before it was able to reach its all-time high. However, some things to keep in mind are that the ICON team has been consistently releasing news and updates for the past several months. While they haven’t released any new news or updates recently, this could change at any time and would likely have a positive effect on price over the long run.
It’s also important to keep in mind that this is not a very crowded market, which means there is room for growth. Right now there aren’t too many people involved in cryptocurrency with an understanding of this coin so from a marketing standpoint, it seems like there is lots of room for growth if they can get their name out there through innovative ideas and clever marketing tactics.
Why Investing In LCX Crypto Could Be Profitable?
The price of any cryptocurrency is dependent on supply and demand, which are both subject to speculation. For instance, although there is a finite number of Bitcoin that could ever exist, there was an initial hype for this currency, which led to its value rising sharply. One common misconception about investing in digital currencies like Bitcoin and Ethereum is that it will be worth a lot in the future. This is true for most cryptocurrencies but if you want to ensure profit then you should always invest in a coin that’s already established. However, you shouldn’t expect to see a price surge right away or even in a few months. You should always be patient and wait until the time is right.
That’s when you should try to invest in the token in order to make money later on. It’s important to remember that there are plenty of people who have made millions off the price surges of cryptocurrencies so there is definitely money to be made here.
