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Should You Invest in TRON in 2020?

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TRON

Although the idea of using cryptocurrencies and incorporating them into the modern world is not that new anymore, some people still don’t have a clue about the many options cryptocurrencies offer. The majority of people probably know about Bitcoin, but there are many other cryptos that have evolved in recent years. One of them is TRON, founded in 2017 by Justin Sun, who managed to make it quite famous in one year’s time.

If you are only getting started with Tron, you probably don’t know much about this promising cryptocurrency. That’s why we have done some digging for you and found all the predictions for TRON in 2020. 

In this text, we will list all the facts brought up by cryptocurrency experts, so that you can see for yourself if TRON is something you would like to invest in.

Advantages

Let’s start with the positive aspects of TRON. There are several good things that indicate how successful this cryptocurrency could be in the future, as well as how much its users could benefit from it.

Great Team

As mentioned before, TRON was founded by Justin Sun, one of the most talented young people who got listed in the Forbes ‘30 Under 30’ section. Apart from being the mastermind behind TRON, he is also a man who holds the future of BitTorrent in his hands. 

This young man has already done some impressive things, one of them being the launch of the Chinese version of Snapchat called Peiwo Sun. Of course, Sun was aware that he couldn’t do everything by himself, which is why he has created a network that consists of creative people like himself to support his vision, which proved to be a great idea.

Connections

Justin Sun understands how a successful business is created but he also knows how important it is to make strong connections with other prominent names in the field. Some sources claim that a part of his wisdom comes from his close relationship with a Chinese billionaire Jack Ma. 

Be that as it may, Justin Sun has made some great business decisions when it comes to choosing his partners. In 2019, he formed a partnership with Samsung that is now accepting cryptocurrencies and blockchain-based apps.

Transactions

TRON is a cryptocurrency that has very low transaction fees. In fact, the fees are so small that you feel like they don’t exist at all. Whenever you are making a transaction using the TRON cryptocurrency, you will pay approximately $0.000005, which means that you don’t need to think twice about how many times you can move your TRON coins around.

Disadvantages

There is no such thing as perfection, and TRON is no exception to that rule. Let’s explore the downsides of this cryptocurrency.

Fluctuation

The problem with all cryptocurrencies on the market is that they are more or less dependent on the value of the main cryptocurrency. This is why you can never be sure whether the value of your cryptocurrency will go up or even stay where it is and bring you some profit. 

Although TRON has witnessed growth from the moment it was launched, there’s no guarantee it will continue to go in that direction. Of course, there are experts who continuously follow the coin’s status and offer price predictions. Still, when it comes to investing in cryptos, you are the one who will face the consequences of your choices in the end.

High Supply

One of the main discussions regarding TRON is the number of available coins on the market. As opposed to some other coins, TRON cannot be mined in the same way as its predecessors. What does that mean?

When you have a vast amount of coins that cannot be mined, there is a higher chance of price manipulation. Either a limited number of people will hold a monopoly over this cryptocurrency or a high number of coins will lower its value and make it an undesirable asset.

Conclusion

TRON is a cryptocurrency that has created a lot of noise in the last couple of years. The characteristics we’ve listed above are vital pieces of information for the people ready to invest in this coin. 

Once we did the math, we’ve come to the following conclusion — if you have enough cash, this is a good time to invest in TRON since it has more advantages than disadvantages at this particular moment. And yes, there is a possibility that the price will go down, but that is always the case with any cryptocurrency.

All in all, TRON has a great team of individuals who work on it day and night, as well as a crucial partnership with Samsung that will make it one of the most useful cryptocurrencies on the market once it all starts functioning as planned. 

Finally, the perfect time to invest in anything is when the price is still low, which is why buying TRON now is a good decision that might benefit you in the future.

Image by Gerd Altmann from Pixabay

Altcoins

Polkadot Price is in Consolidation Mode: What Next?

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Polkadot price has been under intense pressure for the past few days amid the recent bearish sentiment in the crypto market. At the time of writing, DOT was barely unchanged, trading at $5.351. The altcoin has dipped more than 25% for the past month but remains 24.23% higher in the year to date. The asset’s total market cap has slipped over the last day to $6.343 billion, ranking it the 13th largest cryptocurrency.

Is the Worst Yet to Come?

Polkadot price has been consolidating for the past few days amid the recent sell-off in the crypto market. Statistics by Coinmarketcap show that the global crypto market cap has dropped 1.29% over the last day to $1.13 trillion, while the total crypto market volume decreased by nearly 7%.

The biggest cryptocurrencies, Bitcoin and Ethereum, have been in a freefall for the past few days, falling to $26,880 and $1,807, respectively. Most altcoins, including BNB, Cardano, Solana, Shiba Inu, and Avalanche, have plunged seeing that most altcoins move in tandem with the performance of heavyweights Bitcoin and Ethereum.

Looking ahead at the global market mayhem with the US debt ceiling debate and the US banking crisis, investors expect more downside in the crypto market. The US dollar has continued growing stronger, hovering around a six-month high against the Yen, as optimism around the US debt ceiling talks in Washington raised expectations of higher-for-longer interest rates.

Two…

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Bitcoin

Bitcoin Price Retests Crucial Support at $26,500 as Regulatory Concerns Intensify

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BTC

Bitcoin price was headed for its worst week since November 2022 on Friday as volatility, buoyed by low liquidity continued to outweigh crypto markets. Bitcoin has dropped below the crucial support level of $26,500, changing hands at this level. The asset’s price has dipped by more than 11% in the past week, while its total market cap inched lower to $516 billion.

Fundamentals

Bitcoin price has been on a downward trend for seven consecutive days amid congestion in the network’s system and the regulatory crackdown on cryptocurrencies. The digital coin has been struggling to gain bullish momentum for the past few days. Bitcoin is currently up by 60.54% in the year to date, but its prices have remained volatile.

The crypto market has been battling low liquidity, regulatory crackdown, and macroeconomic concerns. Data by Coinmarketcap shows that the global crypto market cap has slipped to $1.11 trillion, down from $1.27 trillion earlier in March. Bitcoin’s dominance has also inched lower in the past few days.

The regulatory crackdown on cryptocurrencies has ramped up since the fall of crypto exchange FTX. Ripple Labs has been in a lawsuit against the US Securities and Exchange Commission (SEC) over the last year over concerns about its native coin XRP. Additionally, SEC recently warned Coinbase over potential securities law violations. Binance, the largest cryptocurrency exchange platform, was recently accused of violating trading rules by the Commodity Futures and…

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Altcoins

Shiba Inu Price Plummets as Focus Shifts to FOMC’s Monetary Policy Meeting

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Shiba Inu price has been in the red for the past two consecutive days as investors shift their focus to the Federal Reserve’s two-day monetary policy meeting. The SHIB price has slipped nearly 4% over the past 24 hours, dropping below the important level of $0.00001. SHIB’s total market cap has dropped by 3.31% in the last 24 hours, while the total volume of the coin traded surged 86%. Shiba Inu currently ranks as the 15th largest cryptocurrency after Binance USD and ahead of Avalanche.

Fundamentals

Like other digital assets including, the largest – Bitcoin, Shiba Inu price has been under intense pressure since the start of the week, erasing some of the gains made in last week’s sessions. The cryptocurrency market has been on a downward trajectory ahead of the Fed’s interest rate decision for May.

The global crypto market cap has decreased by 4.30% over the last day to $1.17 trillion, while the total crypto market volume jumped by 43%. Bitcoin’s dominance has also slipped. Bitcoin and Ethereum have each plummeted by more than 5% in the last day, weakening the overall crypto market sentiment. Most altcoins tend to move in tandem with the heavyweights’ performance.

The focus is now on the meeting of the Federal Open Market Committee (FOMC) set to end later on Wednesday. Markets are anticipating a 25-basis point interest rate hike in May as the Fed battles persistent inflation. Notably, investors…

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