Price Analysis

Siacoin (SC) Price Analysis: Beware Of The Upcoming Stagnation In Siacoin’s Price Line

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Siacoin’s price has been dropping very frequently for the past one year. This has worried the investors regarding whether to invest or the same or not. Even the turbulent nature of the BTC’s price is one of the serious factors to consider regarding Siacoin’s price dropping. There is no evidence of firm support resistance that can push its value up and hold it for some days. Its developers have been very active these days to increase potentials of this crypto so that it can regain its value to some extent despite the intense volatility of the crypto market sphere. The developers’ team maintain clear transparency with the Siacoin community regarding every single update. According to the latest information, storage of Siacoin is steadily expanding from 186 TB to 219 TB in April 2019. Siacoin has built such a framework on outsourcing the storage to any user with a hard drive and internet connection that it has dramatically reduced its overhead.

On the basis of these potentials, many crypto enthusiasts are saying that SC can rise in the upcoming future and it will be having the support of the stable market condition as by the end of 2019; the market volatility will reduce largely.

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Current status:

  • Current price: 0.003436 USD
  • Current market cap: 140,123,371 USD
  • Market rank: 54
  • Circulating supply: 40,785,382,422 SC

Price analysis and future price predictions:

Siacoin (SC) Price Chart

The above chart shows that at present, SC is getting traded at 0.003443 USD or 0.00000043 BTC (UTC time 08:45). Its current 24h volume is worth of 2,542,028 USD. The same chart shows that approx. one month earlier, SC had a trading value of 0.002628 USD with a market cap of 106,262,601 USD. So, within this duration, the value of SC has spiked up by 31.01% with 0.003185 USD as a good support resistance.

On the basis of the current price analysis and its updates, we assume that SC can have a value of 0.0352 USD by the end of 2019.

Conclusion:

It is better not to invest in Siacoin currently. The investors should wait for a stable market condition to consider investing in this crypto.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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