Short-term price analysis:
Overall market capitalization behavior
After moving quickly down and then up, the market has been in a boring sideways move for almost a week.
It all started when the market lost ground and fell well below its $ 200 billion market cap. It rebounded to $ 210 and eventually hit the $ 200 billion level.
On a note, the following total market capitalization figures are from Tradingview and show a discrepancy of around $ 8 billion from CMC data.
Total market cap fell almost to our forecast zone of $ 162 billion – it bent to as low as $ 170 billion before bouncing back (data from Tradingview). During the boom, the market touched the $ 205 billion zone and rebounded from $ 191 billion to another low before settling in to the current $ 198 billion.
Right now, it is nearing its resistance of $ 205 billion, a Fib382 zone that was already shown to be stable when the price tried to crack it on Nov 28-29.
I would argue that the total market capitalization chart is the most important one to look out for as it is a leading force and direction selection for all coins, including bitcoin.
As you can see below, the Fear & Greed Index is back in the fear zone and approaching the extreme fear zone. It is still very likely that we will actually lose another $ 30 billion in value before we can talk about an actual reversal.
TRX / USD price analysis
Our analysis from 5 days ago is still active and the most likely scenario in our eyes:
The market was turbulent, but TRX was not so much. It hasn’t been able to stand up again and test its resistance at $ 0.017 and is currently hanging in equilibrium at $ 0.0156 with a much greater chance of tipping over and falling than the other way round.
So Tron is slated to drop to $ 0.011.
Below is our long-term Tron price prediction for 2019 and beyond.
What is the Tron forecast for the coming years? Will the self-proclaimed “Ethereum Killer” continue to climb, move sideways or even crash? A comprehensive analysis by Tron can be found here.
Tron (TRX) basics
Tron currently ranks 11th in terms of market capitalization. This promising project is often forgotten by many investors. Too often the focus is on high performers like Bitcoin or Ethereum. Tron was founded by Justin Sun, who previously worked for Ripple.
Originally, Tron (website) was a decentralized platform for the delivery of content. Music, video producers and artists of all kinds should have a decentralized platform on which they could trade and interact directly with consumers. Platforms like Youtube would become superfluous. However, this niche was soon also overcrowded in the decentralized area, so that Tron expanded its range and focused on dApps and online games.
Tron Forecast: These factors can affect the price
There are a few things that could have a positive impact on Tron’s price prediction for the years to come. Some of the most important are:
Upcoming updates: After the Odyssey 3.1 update in autumn 2018, which is supposed to make Tron faster and cheaper, two more updates are planned for the next year. The Great Voyage update is planned for 2020 and Apollo for mid-2021. These updates allow content creators to further develop their brands. Tron also plans to offer users the option to hold ICOs. Overall, the two updates aim to improve the economy of the system.
- Strengthening the Gambling Sector: TRON recently announced a $ 100 million gambling fund to be spent over the next three years, also known as TRON ARCADE. The fund will support game developers in developing additional games for Tron.
- Partnerships: In the past, new partnerships sparked a number of price increases, especially for Tron. The platform recently entered into a number of partnerships with key players in the content and entertainment industries. Not only does this increase its popularity and number of users, but it could also attract the attention of other companies.
- Tron dApps: The dApps are a market that Tron wants to dominate. After all, Ethereum was initially considered the market leader in this market. Since the launch of Tron’s own virtual machine in autumn 2018, developers have produced a large number of dApps. While there were around 397 Tron dApps at the end of April 2019, there are already 440 today.
Despite the many positive points that speak for a positive Tron price forecast, there are also some hurdles that could shake Tron.
- Justin Sun: For some, CEO and Founder Sun is the face and brain of Tron. However, critics point out that the platform’s success or demise depends on him alone. If Justin Sun trips, it could be the downfall of the entire project.
- Established competition: Tron has to stand out as a platform against the large centralized competition in the form of Facebook, Google Play and Instagram. In the decentralized area there are also enough potential competitors who compete in the market. Tron’s success depends on how they stand out from the multitude of competing products.
Tron Price Prediction 2019-2025: What Are Analysts Saying About Long-Term Trend?
Making a prediction about the price development of a cryptocurrency is a challenging task. The more you look into the future, the more speculative your estimates will be. The same applies to a Tron forecast. Nevertheless, some analysts and forecasting websites have dared to make an assessment and come to the following conclusion:
- Cryptoground: The platform uses a deep learning algorithm that examines the price development of Tron (TRX) in the past. Based on that calculation, they expect Tron to hit $ 0.044 by 2020. This would correspond to a price increase of around 27% compared to the current price. In the following year 2021, the value will continue to rise, reaching a value of about $ 0.091. Tron’s long-term outlook is also positive. By 2024, a TRX will be worth $ 0.1741, which is a price increase of over 400%. They think a crash of Tron is unlikely.
- WalletInvestor: This would contradict Cryptoground’s assessment. They see Tron as a poor long-term investment and believe that a crash cannot be ruled out. For the past 12 months, Tron has had a bearish cycle. In addition, the bear market trading that Tron currently appears to be on is generally viewed as unfavorable. In numbers, that translates to a $ 0.02 price for Tron by the end of 2019. This downward trend is expected to continue. In 5 years, that is, May 2024, 1 TRX would be worth only $ 0.0039. This corresponds to a price decrease of over 88% compared to the current price.
- CoinSwitch: The chances for Tron to assert itself in the market are very high in the eyes of this website. A price of $ 0.11 by the end of 2019 would be realistic. The year 2020, on the other hand, will be rather inconsistent for Tron, reaching a high of 0.4 US dollars in July 2020. After that, Tron TRX price will follow a downtrend with some fluctuations, dropping to $ 0.24 by December the year. According to CoinSwitch, the long-term Tron forecast depends heavily on mass adoption and whether the platform can attract enough startups, artists and musicians. If this succeeds, Tron could land at $ 0.54 by 2023.
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