TRON [TRX] currently comes in at number 15 on the coinmarketcap.com list of top tokens based on the current market cap. With a huge circulation of approximately 65 billion tokens and the current token value at $0.039, the market cap is at $2.6 billion just slightly above the newcomer VeChain.
Historically, after a Bitcoin correction which generally takes anytime between 1-4 months, everything starts bouncing back to green. Bitcoin is still the base token to trade other virtual currencies including token and hence a slump in Bitcoin prices means everything goes to red.
The recent ability and addition of new currencies to different exchanges all over the world means that multiple tokens including Ethereum, Ripple, Litecoin, Bitcoin Cash, etc could now be bought using fiat directly without the dependability of Bitcoin. There have been 7 major corrections for Bitcoin over the past several years of its survival. History has shown the moment Bitcoin goes to green all other altcoins become green and gain momentum.
TRON over the past 3 Bitcoin corrections has shown that the moment Bitcoin passes its earlier high, in this case, $20K, it picks up momentum and sees a huge 70-150% growth in a matter of weeks. Many from the TRON community believe that the current price is too undervalued and it would definitely be at $0.20 per token within this year.
Joe Guinto, a TRX believer and a blockchain developer says,
“I believe Justin has created a revolutionary entertainment token, yes the buzz is less these days but you know it will pick up looking at the historical showdown. It doesn’t matter if you don’t believe in the project, you want to make money, then you invest now”
Others from the market had a more skeptical view, Rohan Gawde, a cryptocurrency journalist from Mumbai says,
“There is no intrinsic value in the token anymore. Yes it was good when there TRX launched but now there are so many ‘better’ tokens that have more value to offer than TRON. Afterall, it is just a gaming token. Yes, maybe you can make money in the short term but in the long run, I do not see any value in this”
The post TRON [TRX] poised to gain big post the end of the bearish market appeared first on AMBCrypto.
Source: New feed