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Bitcoin SV Price Analysis (BSV) — When Will $100 Be Conquered?

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Thu, 05/30/2019 - 11:44
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Bitcoin is the dominant cryptocurrency and trendsetter. The general market’s mood depends on its quotes. If it fevers — everyone fevers; if BTC is fine, all the altcoins feel good.

Although 2018 was unsuccessful for all cryptocurrencies, let's call this period a “steep peak”, 2019 has started well. Long bearish trends change to bullish rallies, and on February, Bitcoin "broke through" the mark of $4000. Then, on April 2, it climbed above $5000. Such consolidation also attracted other cryptocurrencies, one of which is Bitcoin SV. We will talk about the influence of “big brother”, technical analysis and other factors below.

BTC and BSV charts comparison
Image by CMC

New BSV achievements

Today’s Bitcoin Core (BTC) has completely deviated from Satoshi Nakamoto’s course. Changing the protocol, hard forks and other updates don’t match the concept described in the original 2008 Whitepaper. Therefore, it was decided to create a new fork — Bitcoin Satoshi Vision (SV). The main purpose was a return to origins. This means the rollback of today's protocol to the original version, as well as the removal of all updates added by the developers.

The task of BSV is to become not just another fork of Bitcoin but a new global chain of monetary and corporate blocks. The management of BSV sees further development of the project in on-chain scaling. So, on March 30, a block of record size 128 Mb was mined. The reward for the 128MB block was also higher than usual — by 1.279 BSV. This proves that the more transactions the block contains, the higher the fees will be. This development will ensure the maintenance of interest in future mining, when the reward will be reduced twice.

Jimmy Nguyen commented on the success of BSV with following words:

If you just believed in the original power of Bitcoin as opposed to trying to limit it, or be afraid of what it could do, you could achieve the biggest blockchain in the world that biggest businesses will want to work on.

In addition, overcoming the milestone of 128MB has destroyed the idea of instability and insecurity of large blocks. This implies the following:

  • The potential of Bitcoin SV already allows you to transfer large-scale data, opening up the opportunities that everyone expected from the original Bitcoin.

  • Management plans to conquer blocks of 512 MB and 1-2 GB in size later this year.

  • New boundaries of space will attract new developers and users who are able to fill it, which means that the ecosystem will go into intensive growth.

And BSV is actively working to create a space. Bottle BSV, BitPaste, Bitstagram, Bico.media, and BitcoinFiles.org have all become an effective extension of the Bitcoin Satoshi Vision network.

Bitcoin SV all-time charts
Image by CMC

BSV price forecast in 2019 — The real picture

After a frisky start in November and "rollercoaster" during the Christmas period, the BSV rate gradually dropped to $65, and its market capitalization to $1.1 billion. This situation was observed in the course of February and March but April changed everything.

What we have today is the price of $85 for one BSV, and market capitalization exceeding $1.5 billion. The picture’s main reason is a bullish rally of Bitcoin, which seized the entire cryptocurrency market.

If there will be a rollback, then BTC price may fall to the level  $4,400-4,600. The reason for this may be highly overbought of Bitcoin. Such a scenario will also cause a drawdown of BVS, whose growth has already slowed down after April 2.

There is another opinion. If the BTC overcomes a price of $5,200 and is able to consolidate, this will mean a change in long-term trends, which will also have a positive effect on the price of BSV. Now the bullish trend will play into the hands of many projects, especially after 2018.

Bitcoin SV 1 month charts
Image by CMC

BSV price prediction — Optimistic scenario

Moving up for BSV will continue with the bullish market trend. Positive developments are seen in the short and medium term. If the price of the BSV/USD pair is fixed at $82-84, a further jump to the level of $90-93 is possible. But a slowdown in growth indicates a return of bears to the market. With demand zones of $50, $40, $30, trading in the range from $80 to $92 for BSV will be a good result.

With a positive development of the next 7 days, we can expect the following indicators:

  • BSV, as it was said, will strengthen in the $83 mark area.

  • The upper limit is $88.

  • The lower limit is $65.

Otherwise, the success of altcoin depends on the success of the marketing company and Nguyen’s leadership skills, which actively spread the message of Bitcoin Satoshi Vision around the world.

Pessimistic scenario for BSV

In the coming days, there is a possibility of a rollback to the zone of $68-74 dollars. If these values ​​are broke, the fall may be protracted. In this case, BSV will go below $60. Alas, in the next 30 days, the scenario with a fall in course looks more realistic:

  • The average value is expected at around $65.

  • The upper limit is around $87.

  • The lower limit is $48.

If something extraordinary does not happen, global depreciation of an altcoin is not foreseen. A bull rally cannot last forever, so bears will get their share of the market.

What will BSV price prediction be at the end of 2019?

Of course, Bitcoin SV is not the largest player in the cryptocurrency market and depends largely on the mood of the “big brother”. The same can be said about other altcoins. The influence of BTC is too great, the dominance of which is denoted by 50.8%. This indicator has decreased in comparison with the previous values, which indicates the interest of buyers in altcoins. If we take into account this data, the overall picture may develop as follows:

  1. The beginning of the uptrend is expected because the BSV/UDS pair is in a range bound.

  2. According to the majority of forecasts, by the end of 2019 Bitcoin SV, there will be enough potential to pass the $100 mark and presumably fix in the region of $120-130.

  3. The cryptocurrency news background is currently positive, the latest successful results in the mining of 128 MB block and the comprehensive development of the project give good results.

  4. If there is a price reduction, then in the short-term, the sellers will not be able to keep it below $80 per unit.

  5. Plans for mining of 512MB and 1GB blocks will attract even more public attention and the rapid expansion of the ecosystem.

There are those who give extremely negative forecasts. Based on their data, the price of BSV by the end of 2019 will be below the mark of $40. While such a development is unlikely, it still could happen.

BSV up trend prediction
Image by Tradingview

Conclusion

2019 promises to be a year of positive change for cryptocurrencies and Bitcoin SV in particular. The prolonged bearish trend, which lasted more than 12 months, seems to give way to another. Doubtful players left the market in which only the persistent remained so that the cryptocurrency community became more stress-resistant.

Governments are trying to find points of contact with cryptocurrencies, and not to chop it from the shoulder, as before. It seems that everyone is gradually getting used to the rules of the “new world”.

As for BSV, after a long period of stagnation, the altcoin took off from the mark of $65 to the mark of $80, where it needed to hold on. The next direction only moves upwards. If Nguyen and co succeed in moving along the intended road map, Satoshi Vision should have no problems.

The price of BSV is trading at $82.48 at the time of writing.

About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.

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2019 Tron (TRX) Price Analysis and Forecast for 2020 [Key Levels & Trends]

Cryptocurrency Trading
Wed, 09/25/2019 - 11:18
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

At first glance, cryptocurrency Tron doesn’t have the task of changing the world we know. But the idea of ​​TRX has enough interest to live — creating a decentralized environment in which users can make and host entertainment content. And, it would seem, the concept sounds twofold, but for almost 2 years now Tron has been living and developing. And what awaits the crypto next? Let's see!

TRX coin

The main coin of Tron — TRX, the total issue of which is 100 billion coins. At present, the capitalization of the altcoin is $2.2 billion. With this indicator, Tron takes the 12th place in the crypto market. More tokens will not be released, one and most of the existing ones are in the hands of Tron developers. This fact raises some doubts in crypto holders ranks. However, Tron has qualitative differences from many cryptocurrencies:

  • Scalability.

  • High bandwidth.

  • Availability.

  • Justin Sun.

On the last character, we should put special emphasis. Justin Sun is Tron’s founder and an important figure in the crypto investing world. It’s impossible not to note the marketing ability of Sun, who skillfully promotes Tron in all imaginable and unthinkable ways. We will talk about them separately.

In general, investing in Tron seems like a pretty promising path today. Consider historical price changes, analysis and the impact of other sources on the TRX rate.

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Historical changes in the price of Tron

Analysis and forecast of TRX price should start with a look at the historical data. Tron is a fairly young cryptocurrency, created at the end of 2017, and the network itself was launched only in the middle of 2018. Tron price in the background of all events changed as follows:

  1. At the time of creation, at the ICO stage, the price was $0.002.

  2. After the token release, the price rose to $0.05 in December 2017.

  3. The historical maximum was reached at the beginning of January 2018 and amounted to $0.25 for 1 Tron coin.

  4. After a while, the price dropped to a value of $0.03-0.04.

  5. In early May, after the network launch, the price soared to a mark of $0.08, followed by a prolonged fall.

  6. The minimal Tron price was fixed in December 2018, then the coin is worth $0.011.

Today, after two phases of growth, Tron is trading in the region of $0.033 for one TRX token. The growth of an investing crypto asset cannot be called explosive, but a positive movement is can be observed.

News background

In Tron’s case, the most important thing is playing the news background. Justin Sun is trying in every way to create hype around his brainchild. One of these steps is to purchase the right to dine with the investing legend — Warren Buffett. Sun gave $4.5 million for this opportunity. Even this news increased the price of his crypto.

Later in the summer of 2019, the SUN Network is scheduled to launch, news about which is already actively appearing in many sources. It’s worth noting also one of the latest popular news from Tron. TRX will become the official cryptocurrency to pay at IEOs on the Latoken platform, which should qualitatively affect the liquidity and Tron price.

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Tron analysis and forecast from experts

Tron, like many altcoins, is not explosively popular with experts. Forecasts and analyses collect hundreds, but not thousands of views. However, almost every day you can find interesting thoughts and forecasts about the future of Tron. Here are some of them.

The user Cryptotrader_123 believes that the TRX chart is bullish and predicts explosive growth after the pattern is completed. Following its trend line, growth will continue, but a correction is possible in the near future. However, step by step, Tron will take its own.

TRX price forecast by Cryptotrader_123
Image by TradingView

According to user the_booty analysis, investing in Tron can be good in marked areas. The user advises to open long positions and keep the crypto. To a greater extent, he predicts an increase in the price of Tron, but key levels in the situation with a fall are also noted.

Tron price analysis by the_booty
Image by TradingView

User SajjadMazroei built his analysis on triangles. In his opinion, a small one appears inside the bigger one. He predicts such developments in the coming months:

  1. If the small triangle is broken down, the price may drop to $0.026, but then recover to $0.031.

  2. If TRX breaks up, we can expect a price of $0.04.

  3. And if the movement is really strong, then it’s possible to conquer the height of $0.055.

Analysis of TRX charts by SajjadMazroei
Image by TradingView

We remind you that these are just opinions and you need to understand everything yourself.

Tron price forecast for 2020

We have our own thoughts and forecasts for Tron’s price for the second half of 2019. The technical characteristics of Tron are quite controversial. Oscillator analysis indicates the need to sell existing assets while moving averages indicate a strong buy. We believe that the truth is somewhere in the middle. Both price reduction and growth are possible.

Analysis of Tron price charts
Image by TradingView

We predict that the decisive factor will be the full launch of SUN Network, which is scheduled for August 10. The upgrade involves solving many problems with the scalability, bandwidth and protection level of dApps.

Analysis of the trend line shows that it is ascending, so you should not expect a noticeable decline in the price of Tron. Before the launch of SUN Network, the price is unlikely to surpass the $0.04 mark, but it’s not worth waiting for a fall below the $0.029 mark.

Any dramatic changes will be caused by the movement of Bitcoin and the mood in the crypto market. Tron isn’t an exception, it’s also dependent on the movements of BTC, like any other altcoin. With a positive scenario, it’s possible to predict that by the end of 2019 the price of TRX will reach $0.05. Growth beyond this mark is possible but unlikely. The bottom price is unlikely to be below $0.022, that is, in the worst case, roll back to the values of 2018.

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Conclusion

As an investing crypto asset, Tron seems pretty promising. The probability of losing money by investing in it is insignificant, but the altcoin may not bring much profit. We hope our forecast will help you make the right decision. Last piece of advice — follow the news around Tron, as it is the most important factor.

About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.

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