DotBig: Tron Price Prediction
The discussions about the relevance of buying Tron (TRX) started because of the successful performance of the digital asset this year. It was one of the several coins at the start of this year that managed to go up in price when the market started showing downside dynamics.
At the beginning of this year, Tron was valued at $0.076, while today its price varies at around $0.0656. This means that from the start of the year, TRX lost in price by only around 14%, while some other biggest cryptocurrencies have fallen by more than 40%. Does this performance make the asset good to buy in 2022? Should you go bullish or bearish?
Introduction to TRX
Tron is one of the biggest and the most mainstream blockchains in 2022. It was started by Justin Sun. He has remained in the position of the chief officer of the company until 2021.
The ICO of Tron took place in 2017. The developers of the project announced that their mission was to decentralize the web. Experts admit that this ecosystem has reached quite impressive heights over these years. Similar to many other popular decentralized ecosystems, Tron focuses on the entertainment industry.
You can buy Tron on the majority of crypto exchanges available in the US. This indicates that Tron is a reliable asset. However, we still haven’t answered the question: is it a good idea to buy it right now?
The reasons to go bullish in 2022?
As mentioned before, Tron surprised many during the declining period, as it was one of the few products that didn’t drop much in value. Such stability of the product attracts investors. What are the other reasons to buy Terra in 2022?
- Tron is considered to be one of the best alternatives to Ethereum.
- It isn’t something newly created — it has been on the market for several years. These years were rather successful for the project. The proven track record of the cryptocurrency is a good indicator for potential investors.
- Tron is the biggest crypto in terms of the amount of money deposited on its blockchain.
Nevertheless, good dynamics aren’t the only thing you must pay attention to when considering crypto investments. Tron launched its algorithmic stablecoin USDD. When it lost its peg to the USD, investors got concerned about the future of the project. The collapse, which happened to Terra, might repeat. That’s why we recommend being careful and thinking well before making investments in Tron.
Currently, the performance of Tron is quite promising, but this isn’t the reason to stop following the news about the stablecoin.
We would like to conclude that with any crypto investment you should be careful because no one can predict exactly whether the story will repeat. However, if we talk about forecasts that rely on statistics and digits, we have positive news for you. According to the technical analysis, the average price of Tron in 2023 will be around $0.12. With such a strong performance, it can reach the average point of $0.24 in 2025.
Your duty is to stay tuned to the news and follow the insights of DotBig analysts!