Biconomy (BICO) Coin experienced the infamous "Coinbase Effect" after being listed on the cryptocurrency trading platform on Dec. 1. While the boost was short lived, dropping down to $6.18 from $21.87, our BICO coin price prediction will show you where the coin is heading next.
You see, Biconomy is at the center of innovations within the world of blockchain and cryptos. It's deeply involved in simplifying user experience when it comes to blockchain technology. It wants to make it more accessible to novices and make completing transactions more straightforward.
And BICO offers the chance to get in on a potential Web 3.0 and metaverse heavyweight, which makes the crypto that much more attractive since that growing industry could be worth $15 trillion.
In fact, Biconomy's potential growth is so exciting that Coinbase wanted in on its future. Before Biconomy could sell BICO, Coinbase joined CoinFund and others to raise $9 million for the startup.
So, how high can BICO climb? That's what we're here to find out today...
What Is Biconomy (BICO) Coin?
Founded in March 2019 by three blockchain-savvy individuals, Biconomy is now one of the largest Canadian cryptos in the world.
The creators have hands-on experience in the crypto industry after working at companies like Binance. This gives it an edge when dealing with the complex networks that come with transferring cryptos from one wallet to another.
Now, BICO is the native token of Biconomy. The crypto offers a secure network that rewards the stakeholders with the promise of the mainstream adoption of decentralized finance (DeFi) apps. Most DeFi apps run on Ethereum blockchain and Web 3.0.
Not only does Biconomy power DeFi apps, but it offers solutions that game developers can also use. Because of the decentralized nature of Biconomy, the crypto is likely to be a major contender in the metaverse.
So, the rise of DeFi, NFTs, and the continual shift to Web 3.0 and the metaverse will drive demand for Biconomy's software. And in turn, this should grow the value of the BICO since it's at the center of transactions on the network.
And though the crypto industry continues to expand, many people are still hesitant to adopt cryptos because of their complex nature. Novice traders are unsure about the transaction fees (aka gas fees), crypto wallets, or even transferring funds across blockchains.
But Biconomy has made it possible for crypto developers to make seamless apps.
One of its big goals was to improve blockchains and cryptos by removing cross-chain transaction fees. The idea is to make it more accessible to everyday users, similarly to how anyone can tweet for free. By using Biconomy software, developers can now offer fee-less transactions within apps. This encourages the use of DeFi apps and other products within the network.
And Biconomy's push for multi-currency support would allow traders to use the ERC-20 tokens. So instead of being locked into say, Ethereum, using Ether (ETH), traders could use the token within any other network of their choosing.
This further opens up the crypto industry, which brings in more potential users of Biconomy's software. It helps that developers building DeFi, NFT, and Web 3.0 applications use Biconomy - a number the continues to grow.
But where does this push to improve and simplify blockchain and crypto software leave Biconomy?
BICO Coin Price Prediction
As it turns out, it's in a pretty solid position for long-term growth.
Now that BICO is trading on Coinbase, more traders can pile in as Biconomy continues to develop its software.
The crypto might have quite the spread of price targets, but there's one thing they all have in common: BICO will consistently go up over the next several years.
Take, for example, the price target from Digital Coin Price. Right now, BICO is trading at $6.18 per coin. Over the next year, BICO could move higher to $13.07 - a gain of 111%.
In that same time frame, PricePredictions has a price target slightly lower at $11.44, and Gov Capital has a much more bullish take on BICO at $41.07 - an incredible 564% increase.
And looking further out, it only gets better.
If you were to buy BICO today, in five years, it could be worth anywhere from $26.28 up to $150.60. At the higher end, that's an astounding gain of 2,336%!
Of course, that wide margin between the price targets does indicate volatility around BICO. But with Biconomy's push to power DeFi apps and its inevitable involvement in the metaverse, BICO should grow in value as demand for Biconomy increases.
The Next Tech Rush: How "the Metaverse" Is Creating $753 Billion in New Wealth
The metaverse: It's the evolution of the internet - a shared virtual world where people gather to play games, socialize, buy things, and work.
Big Tech is actively spending billions of dollars to develop it... and three small players could take all.
Each one (two are stocks and one is a crypto) is trading for less than $30 and could soar 1,000% over the next few years.
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