Presently, the field of cryptocurrencies is continuously expanding, offering a plethora of options in which to invest.
While Bitcoin is widely seen as a pioneer of the industry, Tron – one of the most surging cryptos today – can boast of its good potential to grow in the market in the foreseeable future. Let’s find out what the future holds for this innovational cryptocurrency, looking at Tron price predictions for 2019 and beyond.
What is Tron (TRX)?
Tron is a blockchain-based decentralised platform aiming to build a free global digital content sharing system with distributed storage technology. The platform’s official currency is known as Tronix, or TRX.
Founded in September 2017, it was initially based on the Ethereum codebase and adopted mostly for the entertainment market. The platform’s users can create their own individual entertainment or gaming projects, publish software and graphics content, store and transfer it for rent, as well as distribute and promote it through issuing and receiving assets. Moreover, Tron facilitates content sharing to major service providers like Facebook or YouTube as a content creator, which allows one to have total control over his own data while being compensated for it.
Created by Justin Sun, a 26-year-old Chinese student, Tron positions itself as the largest decentralised platform in the cryptocurrency world. As stated on its official website, its high throughput is a result of improving the transactions per second (TPS) on the network, which has surpassed Ethereum and Bitcoin.
What are the advantages of Tron?
While it may still be a bit too early to speak about Tron’s disadvantages, many have already mentioned a multitude of advantages this crypto has to offer.
Firstly, Tron can boast of its professional team of developers, advisers and investors. For example, the company’s CEO is Justin Sun, known to be the protégé of Jack Ma, the founder of Alibaba Group.
All of these features, in turn, make TRX price prediction 2019 look rather optimistic.
Tron price analysis
After reaching an overwhelming $0.172 in January 2018, the coin has seen some major losses.
From the beginning of 2019, Tron price has been rather volatile. Yesterday, 8 August, the coin touched a high of $0.022 and a low of $0.0215. According to CoinMarketCap, the volume of Tron marked on this day was $476,313,110, and the total market capitalisation was set at $1,475,459,612. Its current circulating supply was 66,682,072,191 TRX.
If Tron price stays above the $0.0220 support area, it is expected there are chances of a fresh recovery. On the upside, immediate resistance is near the $0.0280 level, followed by $0.0290. However, the main resistance is near the $0.0305 level, the previous support and breakdown level.
Trade TRON to US Dollar - TRX/USD CFD
As per recent news, Tron has introduced new decentralised apps, also known as dApps. This is expected to bring a positive change in the price of the TRX coin in the foreseen future.
Another very strong and bold move of Tron was its acquisition of BitTorrent, a peer-to-peer file-sharing application, which in turn could aid the mass adoption of Tron and potentially create a token for torrents.
Tron price prediction: 2019 and beyond
When speaking about Tron price prediction, it is important to understand that it doesn’t really matter how long the current market falls – the recovery and further development of Tron are inevitable. At the beginning of 2019, the most pessimistic TRX price prediction was $0.04. However, the reason for this was not the project itself, but the general ‘crypto winter’ situation that had been happening in the industry.
Tron, ranked 56th a few months back, has now secured the 10th position in the Coinmarketcap rating. Therefore, in a short period, the platform’s team was able to prove the main thing: their brand is not just another bubble, but a promising long-playing project that will fully demonstrate its abilities and strengths in the years ahead.
Tron price prediction is mostly based on how the project has performed in the past and its state at present. The last couple of months have seen the platform growing consistently in the number of users: it recently hit 2.7 million accounts registered on the network, setting a new record. The number of dApps on the platform reached 385.
Based on some Tron price forecasts, at the end of 2019, TRX is expected to hit $0.08. Besides, many believe it will be breaking barriers to trade between $0.05 and $0.07 in the third quarter of the year. This is due to the news that the network plans to sign multiple strategic partnerships, including the rumoured collaboration with Liverpool Football Club, attracting more investors’ attention.
In 2018, experts at Jiomobilephone1500 bet on TRX going up as much as $5 in 2019, saying that it might reach $47 in 2020. Now, they have revised the forecast, putting TRX price at $0.089 by December 2019 and $0.636 by December 2020. Meanwhile, Cointame gave a more optimistic prediction, wherein they stated that by the end of this year, TRX might reach $0.6 and might touch $1 by the end of 2020.
As for the price, in 2020, experts’ opinions split: some predict TRX to trade around $0.1, others – $1. TradingBeasts, for instance, place TRX between $0.11 and $0.16 by the end of 2020. The only thing is known for sure: investors should expect huge fluctuations in the upcoming year.
Forecasts suggest that by 2023, an investment in TRX at present will have a ROI of 1,536%, which means that TRX will likely be trading at $0.54 in the same year, reaching $0.763 in 2025. InvestingPR makes an optimistic guess, saying Tron might rise to $1 in the next five years.
Truth be told, Tron is a project that many love to hate. However, as a matter of fact, it has a very vibrant and supportive community. As per the fundamentals, TRX future is bright and could get even brighter.
If you are not ready for long-time investments but want to try to hedge your bets on the Tron price prediction, you can consider trading contracts for difference (CFDs).
If you choose to trade CFDs, you can buy and sell Tron to US Dollar (TRX/USD) and Tron to Bitcoin (TRX/BTC) pairs, as well as follow the prices live with the comprehensive price chart on Capital.com. To learn more about CFD trading, check out our free online courses and CFD trading guide.