One of the Top-10 cryptocurrencies, Tron continues making its way to the top. Its current price and position are mostly driven by the volume of the market cap and actions taken by Tron Foundation. However, Bitcoin performance shouldn’t be underestimated, too.
What will Tron’s value be in 2019, and which factors are contributing to its growth?
How will Bitcoin change Tron’s price?
As usual, Bitcoin fuels altcoin trends and defines their development paths. Considering this, Bitcoin price movements will affect TRX, too. The following scenarios should be expected:
If BTC will rise swiftly, Tron is more likely to join the rise. With lower possibility, Tron will be depressed as money flows into the BTC market cap.
If Bitcoin plunges, it should take the vast majority of altcoins with it. There’s a slight chance that money will flow to altcoins.
If BTC moves sideways, altcoins will mimic its direction. At the same time, there will be favorable trade opportunities for the TRX/BTC pair.
Tron might reach $0.7
With so many positive tendencies on the market, Tron has a chance to reach $0.5 or even higher. A lot of analytic websites predict that Tron will cost $1 by the end of 2019. However, this assertion seems to be too optimistic. This prediction can be viable when made for 5 years instead of one.
Aamir Kapoor, a cryptocurrency writer, suggests that Tron might reach the level of $0.6-0.7 this year. The cryptocurrency has managed to survive through the crypto winter and even outperform EOS and Ethereum by the number of applications built on its blockchain:
With more investors (for instance, PayPal will soon partner with TRX), Tron will raise the market cap to reach new heights.
Let’s not forget about its technological superiority. Tron’s 3.5 hard fork upgrade is likely to trigger a new wave of hype. Here’s what the newly released Tron update boasts:
1. Multi-signature & acc. management allows for more than one authorization to validate a transaction
2. Dynamic energy adjustment (energy adjustment is based on demand in real time)
3. 50% performance upgrade
4. Better VM safety
Thus, the cryptocurrency has all chances to skyrocket from the current price of $0.023 to $0.07 or higher. Keep in mind one thing: this year, traders won’t act blindly. The previous failures have taught us to analyze the market better, so all price fluctuations will have more substantial reasons behind them.
Buying Tron right now makes sense, but be prepared for long-term holding – sudden pumps aren’t likely.
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.