Price Analysis

Siacoin (SC) Price Analysis: Has Siacoin Managed to Outgrow Itself Gradually?

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Siacoin (SC) is the only crypto coin in the market with a special focus on decentralized storage space. It facilitates an open-source and low-cost option for cloud storage and also the encryption & distribution of files chosen for storage by the users of this platform. It also gives complete privacy to the users through user-controlled private keys. The cloud storage provided by the Sia Blockchain platform offers a redundant, private, anonymous and affordable option to the users.

Current Statistics-

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  • Siacoin (SC) is ranked at 55th position in the market with respect to its market cap.
  • The ROI (Return on Investment) stands at 6566.20 %.
  • The coins in current circulation stand at 40,383,265,722 SC.
  • The current market cap as on 23rd March at 02:24 UTC is 122,769,058 USD.
  • The value of each coin in terms of USD and BTC stands at 0.003040 USD and 0.00000056 BTC respectively.
  • The current 24 h volume at the same UTC stands at 5,064,256 USD.

Comparison-                  

The market started at a positive note at the starting of 2019 for Siacoin (SC). But it has shown many variations in its value throughout the last 100 days. It reached its lowest point at 0.002099 on February 6th. However, it gained momentum after that. As of now, the 1st April boom is the highest for Siacoin (SC). The market cap on 23rd March was 106,974,002 USD, and the value of each coin in terms of USD and BTC was 0.002677 USD and 0.00000066 BTC respectively. The market cap, as well as the value in USD, has increased by almost 13 % in the last 30 days.

Prediction-

The growth of Siacoin (SC) has not been up to the mark compared with other major players. It has shown many variations in the pricing. As the current price is moving around 0.003 USD, we predict the coin to be stagnant after a little growth. The price may reach 0.0035 USD this week, and after that, it will be stable for a longer period of time. The medium-term outlook is stable with a target just above 0.0039 USD. The 2020 prediction is bullish and the value may be at 0.01 USD by then. Even with some market external interruption, the value is not going to breach 0.0158 USD target by the end of 2019.

Conclusion-

Short term investors are advised to stay out of this coin due to potential long extending stability in the price. Long term and medium term investors need to hold their investments until 2020 to gain a 100 % profit margin over their money.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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