This week has proven to offer a little bit of everything in terms of crypto market momentum. Yesterday saw a steep decline across the board, whereas today is a bit more positive. Fans of the Tron price will be pleased with the current gains. Retaking the $0.03 level may prove challenging, but anything’s possible.
What Comes Next for the Tron Price?
Although the opinions on Tron are somewhat divided, the project is still in a good place. Unlike most other altcoins, its ecosystem is growing and new infrastructure gets developed. As such, it is only normal the TRX value responds in kind over time. Similar to other markets, Tron is currently in the process to recover some of the losses sustained earlier this week.
Over the past 24 hours, there have been some notable Tron price changes. The current 47% increase in both USD and BTC value paints a very positive outlook. Because of these gains, one TRX is now valued at $0.027 or 798 Satoshi. earlier in the day, TRX hit 830 Satoshi, thus it is possible that level will be reached again in the coming days.
No one will be surprised there are those who simply want to dissuade people from investing in specific projects. Thomas Schulz is one of those individuals trying to ensure no one buys Tron now or in the near future. His “SEC insider source” is probably completely fake, but it will create some minor market swings regardless, by the look of things. Even so, never trust anything someone says n the internet, especially on social media.
Just heard from a SEC insider
Literally, his first comment was:
Stay away from Tron
I’m not kidding.
— Tom 🌀 (@ThomasSchuIz) January 29, 2019
Contrary to what some people might expect, there are plenty of people who hold significant amounts of TRX. Silvia Lubke is confident TRX will reach $1 eventually and she plans to hold on to this currency until that time. A very ambitious goal, although a forty-fold increase in value is not as impossible as it might seem. The current supply of TRX might not necessarily allow for that to happen, though.
— Silvia Lübke (@SilviaXSmile) January 29, 2019
When looking at the current price chart for TRX, it is evident the market can easily swing either way. For the time being, it seems the status quo is being maintained without too many problems. At the same time, one has to acknowledge a very steep drop could occur a lot sooner than people may realize. It creates a lot of uneasy market momentum, but that is the name of the game at this time.
— Swanson (@SwansonXBT) January 29, 2019
All of these factors combined create a very interesting ecosystem. Although it seems likely the TRX price will continue to rise in the future, the overall bearish trend has not relented in the slightest. In fact, it may not relent anytime soon, as 2019 is shaping up to be another incredibly bearish year altogether. How that will impact the short-term Tron value, remains to be determined.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.