Sia is one of the players in the decentralized storage space. The cloud storage industry is massive and companies like Sia are hoping to put a dent in the dominance of other popular storage platforms such as Dropbox, Amazon S3, and Google Drive.
We have listed SIA as one of the best cryptocurrencies to invest in 2019.
But what sets Sia apart is that it is a decentralized, encrypted, peer to peer cloud storage platform. It is encrypted, multiplied, chopped into little bits, and then all those little bits are sent around to a bunch of different hosts. When you want access to your file (think of it as being in a T-1000 type state), the appropriate bits are recompiled and you get your file.
Sia has reduced overhead dramatically by building the framework and outsourcing the storage to anyone with an internet connection and a hard drive. That’s why it can charge a much lower fee. They multiply the bits in case a node holding a piece of your file happens to be offline.
Unlike most new coins, the Sia team chose not to hold an ICO. Instead, Sia began life when its genesis block was mined. This is very unusual in the cryptocurrency world. However, so far this has seemed to work out for Sia. Thanks to prominent investors such as Fenbushi Capital, Raptor Group, Procyon Ventures, along with angel investors like Xiaolai Li, the Sia team managed to raise over $1.25 million in funding without an ICO.
The idea of Sia was conceived at the HackMIT 2013 Hackathon, and was officially launched in June of 2015. It is now backed by Nebulous Inc, whose self-proclaimed mantra is: ‘Re-decentralizing the Internet’.
Sia coin Price Prediction for 2019 – Our Forecast
SC, as the rest of the market, is tightly coupled and dependent on bitcoin’s price action. If bitcoin embarks on another bull run, SC can hope for one as well. Since that is very unlikely, don’t expect much to change for SC price-wise in this year. So 2019 will be a year of boring sideways action with minor bitcoin ignited jumps and slumps.
The main currency in cryptocurrency markets is Bitcoin and given this, altcoins tend to fuel Bitcoin runs and Bitcoin tends to do the same in return. Given this relationship, Bitcoin price movements (or lack thereof) tend to effect altcoin prices.
When Bitcoin goes up swiftly, it will likely:
- Suppress or depress altcoins as money flows into Bitcoin;
- Or, take altcoins along for the ride
In cases when Bitcoin plunges, it will likely:
- Depress altcoins as money flows into fiat;
- Or, cause altcoins to boom as money flows into them, but this is rarely the case.
When Bitcoin moves sideways, it will likely:
- Cause altcoins to mimic that as traders wait for a clear sign on the direction of the market;
- Or, cause altcoins to flourish as traders look for returns in altcoins and try to get favorable trades in terms of BTC pairs.
RTo summarize, Bitcoin is the focal point of the crypto market in many ways, and with BTC trading pairs on every exchange, the gravity of Bitcoin is hard to evade.
The majority of projects will fail — some startups are created just to gather funds and disappear, some would not handle the competition, but most are just ideas that look good on paper, but in reality, are useless for the market.
Vitalik Buterin, co-founder of Ethereum said:
“There are some good ideas, there are a lot of very bad ideas, and there are a lot of very, very bad ideas, and quite a few scams as well”
As a result, over 95% of successful ICOs and cryptocurrency projects will fail and their investors will lose money. The other 5% of projects will become the new Apple, Google or Alibaba in the cryptoindustry. Will SC be among those 5%? Hard to tell but probability for that is higher than with most other coins primarily for 2 reasons: solid use case and legit team behind the project.
All of this summed up means one thing: SC might live through couple of orchestrated and, for a regular trader, completely unpredictable pumps but the majority of time will be murky sideways trading with small volume and no significant interest from the market.
Price will heavily depend on what BTC will do and since many analysts think BTC will not be making big moves in this year, it is hard to expect SC will do them either. The price will probably stagnate and record slow-moving depreciation or appreciation depending on the team activity, potential technological breakthrough or high-level partnership.
Market prediction for Siacoin price
Siacoin is a unicorn of the crypto space because of its leading role in a plausible use case that is decentralized storage. As it is gaining popularity, more people have started talking about it. Let’s check what are the market experts or crypto editorials saying.
- Trading Beasts
A crypto forecast website called trading beasts predicted that by the end of 2019, SC might reach around $0.02, which can even exceed as much as $0.03.
- Crypto Ground
Here comes a conservative prediction of cryptoground, where they say that by 2019 end, SC might reach $0.0158, and in five years siacoin might reach $0.0528.
CoinFan is a website that offers price forecasts for almost every cryptocurrency imaginable. By their own “custom forecast algorithm”, they predict that Siacoin might reach $0.0538 by 2019 end, and might reach $0.19 by 2020 end.
- Wallet Investor
Wallet Investor is known for their pragmatic cryptocurrency prediction. They believe that SC might reach $0.0426 by 2019 end on an everage, where the maximum rate might be as high as $0.050030.
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