Due to the bearish trends in the crypto markets, it is incredibly difficult to predict the future of specific digital currencies. Usually, factors such as the development of a blockchain’s infrastructure are used to project bullish trends for cryptocurrencies.
However, the plummeting price of Bitcoin negates these aspects, making them useless and ineffective. For instance, the depreciation of Bitcoin’s value from the record $20,000 in December last year to the current $6,400 has severely impacted other digital currencies, TRON (TRX) included. So, what will be the price of TRX in one year?
Since the launch of the TRON Testnet at the end of March, the blockchain project has been releasing new features and functionalities on a regular basis. Despite these efforts, the coin has struggled to reinstate its previous value which peaked at $0.30 at the beginning of the year.
In fact, every event on the Tron calendar coincided with a further depreciation of the coin’s value.
As of now, there are no impending launch events on the Tron calendar. Going by the jinxing effect of previous events, it is apparent that the future of Tron is likely to improve considerably.
As opposed to depending on upgrades and updates to increase popularity, the value of TRX will develop naturally due to the superior features of its blockchain network. The Ethereum network underwent a similar growth, with ETH’s value surging from $10 to $1,400 in less than 12 months without major adjustments on the blockchain’s protocol or marketing by the Ethereum team.
The growth of ETH’s value that is alluded to above represented an increment of 13,900% over a period of 12 months. If Tron undergoes a similar development, its value in September 2019 would be $2.78, using the current $0.020 value as the base.
The Tron network will host the best DApps blockchain technology has to offer, thereby providing a utility for the TRX token. Moreover, the GoSeedIt platform will enable Telegram and Twitter users to tip each other using TRX. The influence of GoSeedIt cannot be overlooked, as its launch caused the number of Tron users to increase from 62,000 to 350,000 within a month, representing a 464% increment.
Institutional investors are expected to start the mainstream adoption of Bitcoin soon. To this end, the Coinbase exchange aims to become the NYSE of digital currencies and has already launched custody services and is currently working on an ETF. Also, the Bakkt firm, set to be launched in November, intends to advocate for the use of Bitcoin and other virtual currencies as a conventional investment tool for both individuals and corporate institutions.
In conclusion, the presumption is that the value of Tron will reach $2.78 by September next year. The factors mentioned above are expected to contribute massively to the realization of this milestone. Lastly, the upward trends should start becoming noticeable in the last quarter of 2018.