In this article, we will cover our own and market’s opinion on TRX future while discussing Tron price forecast for 2020 and beyond.
After a tough year behind crypto, 2020 will be crucial for many projects, including Tron. That is why TRX price prediction 2020 is hard to make but we gave it a shot anyways.
Now, let’s begin.
Our TRX Price Prediction for 2020
TRX, as the rest of the market, is tied at the hip of bitcoin’s price action. We will prove this claim in the following paragraphs of this Trx price prediction guide. If bitcoin embarks on another bull run, TRX can hope for one as well. Since that is very unlikely, don’t expect much to change for TRX price-wise in this year. So 2020 will be a year of boring sideways action with minor bitcoin ignited jumps and slumps.
Read our updated guide on best TRX wallets.
TRX-BTC Price Correlation
The vast majority of trading that occurs in the crypto markets are between BTC and altcoin trading pairs. Since most altcoins do not pair with fiat currencies (and only a few are paired with stable coins like USTD), Bitcoin is the next best option. Therefore, when Bitcoin is stable, it forms as the ideal base currency for buying altcoins (which is why altcoins tend to do well when Bitcoin goes sideways).
Read our updated guide on best crypto bots.
Correlation is measured on a scale from -1 to 1. Values above 0 shows the degree to which altcoin is moving in the same direction as BTC prices (either up or down in tandem), and values below 0 shows the degree to which altcoin moves in the opposite direction of BTC prices (so when BTC goes down, altcoin goes up, or vice versa). Values around 0 shows that when BTC price moves, altcoins stays steady, or alternatively that when altcoin moves up or down that the BTC price is staying steady.
According to the correlation analysis, BTC and TRX have a strong negative relationship. The correlation coefficient of their values is -0.61, which was calculated based on the last 100-days’ price movements of both currencies. This means that TRX has been decoupling from BTC in recent months but it is still far from being considered autonomous in price discovery. Our abovementioned analysis about BTC’s impact on TRX price movements still stands.
To 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.
To continue our Tron price prediction, we can safely claim that 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.
Enjoy an anonymous cryptocurrency betting & casino on 1xBit. Welcome Package up to 7 BTC! Promo code 1xb_13140 increases the bonus by 125% for the first deposit!
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 TRX be among those 5%? Hard to tell but probability for that is very low as TRX has been in the media more for its founder’s marketing prowess rather than their technological or business achievements. Generally, Tron is not seen as a legitimate project by majority of leading figures in crypto space and Justin Sun is not seen as a peer of Vitalik Buterin or Bitcoin’s core developers and is dismissed as an incompetent charlatan.
Read our updated review of Coinmama exchange here.
Market Forecast for Tron price 2020
With the market being unpredictable and highly volatile, predicting the price of the cryptocurrencies is really one of the most difficult tasks.
Let’s throw a glance at couple of their predictions regarding Tron price prediction, which will give us a fairer idea:
#1 Investing PR
According to investingpr and their Tron price forecast, Tron might rise to $1 only in five years, and that sounds like a realistic and conservative prediction.
According to jiomobilephone1500, they predicted (and completely failed in their forecast) that Tron might go up as much as $5 by 2019 end as they believed 2019 was going to prove favorable for it. They added that by 2020, they believe TRX might reach around $47. This is a completely non-sense in our opinion.
#3 More investors
Another failed prediction as they forecasted that by 2019, Tron would grow to as high as up to $1.5 per coin. They made no prediction for 2020.
Cointame gave a very conservative pessimistic prediction of Tron, wherein they stated that in 2019, TRX might reach $0.633 (another missed prediction), and might touch $1 by the end of 2020 (highly unlikely).
Their automatic trading alorithm is not too found of TRX as they see the token price sliding constantly throughout the year to the price of $0.0249 at the end of 2020.
Can Tron reach $1?
Some media publications claim that Tron price can reach $1 in less than 5 years while also forecasting that by the end of 2020 it may reach $1. We utterly disagree on this Trx price prediction and think that TRX will hover around the same values it does right now.
Will Tron go up in 2020?
While the Tron ecosystem has grown, populated mostly with scammy low-quality gambling dApps, we have stated multiple times in this TRX price forecast that we don’t see much of substantial progress that would in return push the TRX coin price up. TRX is bound to stay below $0.020 for the forseeable future.
Is Tron a good investment?
It still only has speculative value that is diminishing as the market matures. The whole ecosystem is lead by unproven people and it will be a real wonder if TRX survives the next 5 years.
Does Tron have a future?
Short-term, yes. It has some speculative value and potential for couple of more pump and dumps but that is far from being solid foundation for a stable future.
What is happening with Tron?
It is suffering from market maturing. Investors are coming to their senses and the whole crypto market is getting more professional with research tools and agencies that help buyers determine actual value of a project by eliminating fluff and hype. Tron was mostly fueled by the aforementioned market forces whose strength is diminishing with time and the end result is what we have today: Tron is stuck and out of spotlight.
Why is Tron going down?
When the market turns bearish, investors run from the smaller, riskier assets into bigger, safer zones. In crypto that means, that people sell their altcoins and buy stablecoins like Tether, or park their money in BTC. Tron and similar projects are seen as a risky vehicle for quick gains – noone in their right mind would keep larger sums of money in such token.
Why is Tron going up?
When the market turns bullish, investors try to outperform bitcoin by buying riskier altcoins in the hope to hit a moon run and earn a lot of money in short time. So it is usually based on speculation which is often fueled by fake partnerships or baseless hype about some minor happening or technical improvement.
They then lock the profits by selling those altcoins and buying back bitcoin or some other legitimate token. Or they simply cash out and treat themselves with some nice gift. Only fools stay and hold tokens like TRX for long-term.
Tron price prediction 2023
As you could have read from our comments above, we highly doubt Tron will be around in 3 years. The project is simple copycat with flawed design, run by incompetent people. They hit the market in the right time, during the crypto craze which spawned thousands of scammers that got rich and disappeared with their nonsensical projects and tokens.
Tron price in 2023 – $0.
Tron price prediction 2025
Read the paragraph above – it won’t be alive in 5 years, hence the price will be a nice, round $0 per TRX.
Tron price prediction 2030
In 2030, Tron will be a distant memory for many, while Justin Sun will be either in jail or in some other scammy project.
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com