As we slowly approach the new year, the cryptocurrency community boils with predictions for the upcoming period. Especially for the 20 biggest coins in the market. One such is definitely TRON as its numerous supporters are anxious to see how their bag will trade in the future. Therefore, we have compiled five top TRON coin price predictions for 2020.
What is TRON cryptocurrency?
Tron is a blockchain platform focused on building a costless, global ecosystem for entertainment and data sharing. Therefore, the native TRON network provides the decentralized technology for developers to build various kinds of monetized dApps (decentralized applications), content sharing platforms, and similar software with the ultimate aim to decentralize the internet.
In order to raise the funds for the project, TRON Foundation led by Justin Sun launched the TRON ICO on August 31st, 2017. Until September 2nd, 2017, the project raised $70 million in Ether (ETH) and Bitcoin (BTC). Like it’s the case with so many other projects, TRON distributed its Tronix (TRX) tokens as ERC-20 standard.
The TRX tokens’ migration to the native blockchain happened in June 2018 with the launch of TRON mainnet. The price of a single TRX was $0.06. However, influenced by the negative overall market sentiment, the price deteriorated to the current value of $0.014 per coin. In other words, TRX suffered a 76% price decline since the mainnet launch.
Currently, TRON is 11th cryptocurrency by market capitalization with roughly $1.2 billion worth daily trading volume.
TRON Coin Price Predictions for 2020
We have hand-picked only the best and most significant TRON coin price predictions for 2020 so you don’t have to dig through tons of content yourselves. Therefore, without any further ado, these are our sources:
- Wallet Investor
- Trading Beasts
At the very beginning of the forecast, Wallet Investor states that, if you are looking for a good return from a crypto investment, TRX may just be a viable option. Their 1-year prediction states that TRON coin has the potential to gain 91% in 2020. If this turns out to be correct, in December next year, a single TRX token should have a price tag of $0.027.
Indeed, a 91% profit would be satisfactory for most investors. However, according to Wallet Investor, the upcoming year may just bring even better TRX prices. Their chart forecasts that in January, TRON coin could go as high as $0.04, which would present a fine selling opportunity for current holders.
Trading Beasts - TRON Coin Price Predictions for 2020
Trading Beasts agree with the TRON coin price prediction brought by Wallet Investor. However, they aren’t quite as bullish. This outlet states that, by the end of 2020, TRX will rise by 41.31% to conclude the year at $0.018.
Contrary to Wallet Investor’s January pump prediction, Trading Beasts don’t see that coming our way. Instead, TRX should, after reaching $0.016, fluctuate around that price until the year’s end.
After a brief fundamental analysis and market sentiment research, Coinnounce delivers its own TRON coin price prediction for 2020. This cryptocurrency news website clearly states that TRX has the potential to record gains in the upcoming fiscal quarter.
According to the article published on October 24th, TRON should initially surge towards $0.03 to score a 114% profit for its holders. Following the rally, Coinnounce thinks it is possible for TRX to skyrocket to $0.07 on the overwhelming wave of FOMO. However, as the year passes, so should TRON’s glory days as Coinnounce predicts that the price is going to majorly retrace back towards the current price or even further towards $0.01.
The latter prediction may be conditioned by the fact that TRON Foundation’s TRX holdings will be unlocked and ready for selling in the open market on January 1st.
In the publication that came out on December 6th, CoinSwitch shares the common opinion that TRON coin has the potential to grow in 2020. However, contrary to the previous three sources, CoinSwitch forecasts that TRX will reach the highest values in July 2020 as it touches the $0.04 level. This means that investors could record a nice 185% profit if they sell at that price.
After the initial pump, according to CoinSwitch, TRON will reinspect the support levels around $0.03 as December 2020 draws near. The last days of the upcoming year should bring a negative price movement. CoinSwitch predicts TRX to conclude the year with a valuation of $0.24 per token. Despite the predicted drop, this price would still represent a 71% positive movement for TRON.
U.Today’s Denis Sinyavskiy brings an extensive TRON coin technical analysis. The outlet published the article on September 25th, and it reveals the bullish prediction for TRX. As the main reason, U.Today names the launch of the SUN Network scheduled for August 10th, 2020. The new development should push the price up towards $0.04, according to Sinyavskiy.
Similarily to CoinSwitch, U.Today predicts that, after the rally, the price of TRON is going to lose some of its value. Accordingly, in December 2020, TRX should be trading around $0.029, which represents a 107% increase from today’s price.
Since the article was published a few months ago, it is noteworthy to say that the price of TRX was at $0.013.
Conclusion – Top TRON price predictions 2020
It is obvious how all our sources agree on the bullish possibility for TRON in 2020. Still, there are some significant differences in their forecasts for the year’s high and its timing. Coinnounce sees TRX valued as high as $0.07 in January. On the other hand, CoinSwitch and U.Today predict that the summer of 2020 is going to be the most fruitful period for TRON with the $0.04 valuation.
Regarding the price prediction for the end of the year, the spread between possible predicted prices is even greater. The difference between Coinnounce’s $0.01 and U.Today’s $0.029 is $0.019 or 97%. Despite this, the consensus is that TRON should regain the bullish trend in 2020, even though it is possible that the market retains the overall bearish sentiment. Therefore, this is another reason for TRX holders to look forward to the upcoming year.