What will the price of Tron be in 2019 and beyond? Is it time to buy this cryptocurrency?

At present, the realm of cryptocurrencies continues to expand, offering a diverse array of investment opportunities. While Bitcoin stands as a pioneering force in the industry, Tron, a rapidly ascending cryptocurrency, exhibits significant potential for future growth. Let’s delve into the prospects of this innovative cryptocurrency by examining Tron price predictions for 2019 and beyond.

What is Tron (TRX)?

Tron is a blockchain-based decentralized platform with a mission to construct a global digital content sharing ecosystem founded on distributed storage technology. The official currency of this platform is known as Tronix or TRX. Launched in September 2017, Tron initially utilized the Ethereum codebase and found its primary application in the entertainment sector. Users on this platform can create their own entertainment or gaming projects, publish software and graphic content, store and exchange it for rent, and promote their creations through asset issuance and reception. Furthermore, Tron enables content sharing with major service providers such as Facebook and YouTube, empowering content creators to retain control over their data while receiving compensation. Founded by Justin Sun, a 26-year-old Chinese student, Tron positions itself as the largest decentralized platform in the cryptocurrency sphere. It boasts superior throughput achieved by enhancing transactions per second (TPS) on its network, surpassing both Ethereum and Bitcoin in this regard.

What Are the Advantages of Tron?

While it might be premature to discuss Tron’s disadvantages, the advantages it presents have garnered considerable attention. Firstly, Tron boasts a team of seasoned developers, advisors, and investors. For instance, the CEO of the company, Justin Sun, is recognized as the protégé of Jack Ma, the founder of Alibaba Group. Additionally, Tron offers exceptional scalability, potentially supporting up to 2,000 transactions per second, a significant improvement compared to Bitcoin and Ethereum. These attributes contribute to a favorable outlook for TRX price predictions in 2019.

Tron Price Analysis

Following a peak at an impressive $0.172 in January 2018, Tron experienced substantial losses. Throughout 2019, the price of Tron has exhibited volatility. On August 8, for instance, the coin oscillated between a high of $0.022 and a low of $0.0215, with a daily volume of $476,313,110 and a total market capitalization of $1,475,459,612, based on CoinMarketCap data. Its circulating supply stood at 66,682,072,191 TRX. If Tron can maintain support above the $0.0220 level, there is potential for a fresh recovery. Key resistance levels include $0.0280, $0.0290, and a primary hurdle at $0.0305, which was previously a support level that led to a breakdown. Tron’s recent introduction of new decentralized apps (dApps) is expected to positively impact the price of TRX in the near future. Another noteworthy move by Tron was its acquisition of BitTorrent, a peer-to-peer file-sharing application, which could contribute to the widespread adoption of Tron and potentially result in a token for torrents.

Tron Price Prediction: 2019 and Beyond

When considering Tron price predictions, it’s essential to recognize that the current market conditions, including the ongoing crypto winter, have had a substantial influence. At the outset of 2019, the most pessimistic TRX price prediction was $0.04, primarily attributed to broader market trends rather than the project itself. Tron, which was ranked 56th just a few months ago, has now climbed to the 10th position on Coinmarketcap’s rating. In a short span, the platform has demonstrated its viability and long-term potential. Tron’s price predictions for 2019 generally forecast a year-end value of $0.08, with expectations of breaking through barriers to trade between $0.05 and $0.07 in the third quarter. This projected growth is driven by news of strategic partnerships, including rumored collaboration with Liverpool Football Club, which has attracted more investor attention. In 2018, some experts anticipated TRX reaching as high as $5 in 2019, with projections of $47 by 2020. These forecasts have since been revised, with TRX expected to reach $0.089 by December 2019 and $0.636 by December 2020, according to one source. A more optimistic outlook from another source suggests TRX might reach $0.6 by year-end 2019 and potentially touch $1 by the end of 2020. In 2020, the anticipation is that TRX will gain traction among institutional investors, particularly with plans to position TRX as an institution-grade token. The adoption of blockchain technology by numerous organizations in 2020 is expected to further enhance the coin’s acceptance, supported by the growing ecosystem of dApps. Price forecasts for 2020 vary, with some experts predicting TRX to trade in the range of $0.1 to $1. TradingBeasts, for example, envisions TRX between $0.11 and $0.16 by the end of 2020. While specific price levels may differ, it is evident that investors should anticipate significant price fluctuations in the coming year. Forecasts indicate that by 2023, an investment in TRX at its current value will yield a remarkable return on investment (ROI) of 1,536%, potentially pushing TRX to $0.54. By 2025, the price could reach $0.763. InvestingPR presents an optimistic outlook, suggesting that Tron may rise to $1 within the next five years.    

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