Tron is a highly controversial blockchain platform built on a decentralized entertainment ecosystem. The creator of Tron (TRX), Justin Sun, himself was a controversial figure who built this for expanding the arena of decentralized digital content applications with easier user interfaces. Tron is not very popular; rather, it is very limited because many developers find it difficult to learn the complicated protocols involved in using this cryptocurrency. Many crypto analysts opined that as TRX too is tied along with the Bitcoin’s price so, if the Bitcoin’s price embarks on a bullish trend then, TRX can also hope for positive this year. As this is very unlikely to happen, so there is not too much to expect from TRX as well in 2019.
Current status of TRX
Currently, Tron is getting traded at $0.025233 USD (UTC 05:54). It is at 9th position in the crypto market. Its market cap is running at a value of $1,682,614,089 USD. At this moment, 66,682,072,191 TRX are in circulation.
TRX prices will be highly volatile this year, but as mentioned earlier, majority analysts predicted that TRX price would heavily depend on the BTC move. The price can be stagnating to some extent as well.
Price analysis of TRX
From the chart above, the current price of TRX is valued at $0.025346 USD or 0.00000633 BTC (UTC 06:03). It has a current market cap of 1,690,144,836 USD with 24h volume of 137,354,911 USD. Now, from the same chart, it is seen that on January 28, 2019, TRX was valued at a price point of 0.027989 USD. Thus, within this one month, a bearish trend is noticeable in TRX charts, and the price of TRX has been deterred by -9.44%.
Future price predictions of TRX
TRX is existing mainly due to its founder’s marketing prowess; otherwise, it has no significant technological or business achievements. Tron is even not seen as a legitimate project by majority leading crypto investors throughout the world. There are various contradictions regarding the prediction of the future stature of Tron. Cryptocurrency market, being highly volatile, it is not so easy to pinpoint any precise future price, yet, majority analysts have foretold that as BTC will not be making any greater move this year, there is no so much to expect from TRX too. Some analysts have predicted that TRX can rise to $1 only in five years and this sounds to be a realistic prediction. Some analysts have opined that by the end of this year there will be more investors of Tron and thus, it can rise to $1.5 per TRX coin. CoinTame is really pessimist in its opinion as it has assumed that TRX price will touch $0.633 at the end of 2019 and it may touch $1 at the end of 2020.
So, viewing all these predictions, it is quite evident that investors who are opting to make lump sum profits by investing in crypto, then, TRX is necessarily not a part to be included. There will be no significant price hike this year and even in the upcoming years. Moreover, it is true that Bitcoin impacts altcoins and as TRX is one of them, it has to be impacted by BTC.
Let’s sum up
TRX is a bad long term investment for investors. Keeping the current resistance of $0.025346 USD in mind, there is nothing much to expect from this even after five years. Moreover, this sphere being highly volatile, it is better for the keen investors of TRX to be aware of its price fluctuations and thus, making an effective move.