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Siacoin Is On Its Way to Plunge Deeper Into The “Profit Pool”

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Siacoin (SC) is a decentralized cloud storage platform that aims to give a tough tier to the existing storage solutions at both P2P and enterprise level. Siacoin stores data by encrypting, splitting it apart and then, distributing via its decentralized network. It is a great alternative for cloud storage solutions as it is very cheap. It enables its users to “rent out” their unused hard drive, and this is the reason why majority people have tagged SC as “Airbnb of hard drives.”

Present Status of SC

SC is currently getting traded at a value of USD 0.002417 (UTC time 08:25). It is holding the 52nd position in the cryptocurrency market. Currently, 39,617,029,320 SC are available to trade in crypto exchanges. Its present market cap has a value worth of USD 95,751,109. Compared to its yesterday’s price, the value of SC has been deterred by -0.63%.

Price analysis of SC on the basis of Siacoin charts

Siacoin

From the above chart, it is seen that currently, SC has a market value of 0.002406 USD or 0.00000062 BTC (UTC time 08:30). Its present market cap is currently getting traded at 95,335,714 USD with 24h volume worth of 711,249 USD. In contrast to its present price, the price of SC, nearly one month back, from the same chart, was found to be at 0.002371 USD. So, during this one month, the price of SC has got hiked by 1.47%. A slight bullish trend is being observed in this one month with price point 0.002278 USD as a very good support level.

Future price predictions of SC

Siacoin is under development, and its developers said that soon they would reach out to more number of projects including Blockstack and RNDR which can solve its scalability issues. The long term forecast of crypto analysts suggests that SC will start taking a good hike from this year only. It is expected that in the upcoming years, the value of SC will significantly increase. One of the major organizations, Netflix will soon be in partnership with Sia, and thus, it is expected that it will reach to more number of people, and by the end of 2019, the value of this crypto can be around $0.035. By 2022, SC will have the probability to rise to $0.0557. By 2025, it can even reach $1.

From the price predictions, it is evident enough that SC will be coming with more attractive updates that can woo a number of traders and investors. In this way, it can have more investors who will be interested in its innovativeness. As a result, it can be a good choice for long term investment.

Conclusion

SC may not be a good choice at the beginning of this year but, with the addition of new protocols, it is expected that SC will have a good rise in its value in the upcoming days. So, investors should consider SC for long term investment.

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What is Bitcoin? Detailed information about virtual currency Bitcoin

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bitcoin what is this

What is Bitcoin? What is the real value of Bitcoin in the market? This article will help you get the correct answer, and detail all the important information related to the largest cryptocurrency today.

What is Bitcoin? Bitcoin since when?

Bitcoin (abbreviated as BTC) is known as a decentralized digital currency – a form of finance based on blockchain technology and does not depend on intermediaries. Bitcoin is encrypted in the form of an open source code used for direct exchange by Internet-connected devices, peer-to-peer (P2P) transactions in all transactions.

Peer-to-peer transaction means that the buying / selling takes place directly between the sender and the receiver with almost zero fees, in the process without any organization or individual participating in the role. intermediate.

bitcoin what is this

Currently, Bitcoin is the first currency in the list of large-cap cryptocurrencies in the market. Bitcoin’s store of value and growth rate in recent years has increased exponentially, attracting the attention and interest of many large institutions, even Wall Street. The trading volume with a price of more than 42,000 USD / 1 BTC per day is still a huge number, proving that investors love and expect it.

In addition, the scarcity of Bitcoin and the difficulty of mining further increase the value of the largest cryptocurrency in the world today.

History of Bitcoin

Bitcoin is the world’s first cryptocurrency, becoming the foundation for the development of the current Crypto market. According to information from Wikipedia:

  • In 2007 the official Bitcoin currency was born, designed by Satoshi Nakamoto, he believes that it is possible to create a transaction system where the participants do not need to trust each other.
  • In 2008, the domain name Bitcoin.org was registered and first mentioned on August 31, 2008 in Satoshi’s peer-to-peer payment method prospectus.
    On January 3, 2009, Bitcoin went live with the first Bitcoin block called Genesis Block.
  • The first transaction was made between Satoshi and cryptographer Hal Finney on January 12, 2009 in the amount of 10 BTC right at the time the Bitcoin software was released, marking the birth of the non-existent cryptocurrency. under the control and influence of the government or central bank of any country.
  • On October 22, 2010, Bitcoin was used to buy goods for the first time – 2 pizzas for 10000 Bitcoins (equivalent to $25 at that time).
  • In 2013, major services like Foodler, Reddit, OKCupid, Humble Bundle, Baidu and Gyft started using Bitcoin as payment currency. The first Bitcoin ATM appeared in Canada.
  • In December 2013, the first Bitcoin trading agent named Bitcoin VietNam appeared in our country. This unit deals directly with partners in Singapore, USA, … and VBTC exchange.
  • In 2014, the Silk Road event occurred, causing Bitcoin’s reputation to plummet, the New York Department of Finance had to step up and bring Bitcoin into the legal protection category.
  • In 2015, major British bank Barclays accepted Bitcoin, allowing users to donate to charity in BTC.
  • In November 2015, the Bitcoin symbol (₿) was officially included in the Unicode codepoint at position U+20BF in this encoding.
  • In 2017, Japan recognized Bitcoin as an official payment method.
  • On August 3, 2018, the Intercontinental Exchange – the owner of the New York Stock Exchange (NYSE) announced a partnership with Microsoft, Boston Consulting Group, Starbucks to open a Bitcoin exchange called Bakk.
  • In October 2021, Bitcoin had a time to surpass the 64,000 USD / 1 BTC mark – the highest price in the history of this cryptocurrency.

Who Created Bitcoin?

Satoshi Nakamoto is the name that comes up the most when someone asks who created Bitcoin. However, there is no proof that Satoshi is a person or organization.

In 2010, the Bitcoin development community gradually lost contact with Satoshi, after Satoshi gave the alarm key when the Bitcoin network was hacked to Gavin Andresen. To date, the creator of Bitcoin is still a mystery, there are a few names such as Nick Szabo – a enthusiast of the distributed currency, published the article Bit Gold is considered the forerunner of Bitcoin, Hal Finney – cryptographic pioneer and early adopter of Bitcoin software,…

Update Bitcoin price over the years
In 2021, the price of Bitcoin has continuously reached all-time highs, surpassing $60,000 per 1 BTC.

During 2013 – 2017, the price ranged only from 100 USD / 1 BTC to less than 1,000 USD / 1 BTC.
By the end of 2017 the price was close to 20,000 USD/ 1 BTC but then fell around in the range of 3,000 USD/ 1 BTC to 10,000 USD/ 1 BTC.
At the beginning of 2021, the Bitcoin price skyrocketed to 63,000 USD / 1 BTC (April 2021) and fell deeply to the price of 31,000 USD / 1 BTC (July 2021).
On September 11, 2021, the Bitcoin price reached a new peak of 66,000 USD / 1 BTC and the current price fluctuates around 42-43,000 USD / 1 BTC.

Why is Bitcoin falling in price?

Looking at the reality of Bitcoin’s price change, it can be seen that there are times when the price is extremely high, but sometimes it drops deeply. Many experts believe that the reason why the price of Bitcoin has dropped is due to a few reasons:

Pressure to take profits from individual and institutional investors.
The US Federal Reserve tightened its control of cryptocurrencies, and hearings took place against companies and organizations of cryptocurrencies.
Due to the pressure of Covid 19 and the Omicron mutation.
Depending on the severity, not only BTC, the whole Crypto market could be affected.

Is Bitcoin safe?

For those who are new to BTC in particular, the Crypto market in general wants to know if Bitcoin is safe. To get the answer, we need to learn about the technology used to create this coin, the security and privacy characteristics of Bitcoin owners.

is bitcoin safe

Design technology
Bitcoin is a currency created based on Blockchain technology, designed to resist data change. This is considered a breakthrough for future finance.

Blockchain can be understood as an electronic ledger that stores all transaction information and ensures that it will not be changed in any way. Blockchain will be distributed data stored and validated on many different computers connected in a common network.

No person or machine can change, delete, or overwrite the data in it. Note that although the information cannot be changed, it will be added when there is a consensus of all nodes in the common system. And yet, thanks to Blockchain technology, the ability to transmit data does not require and requires intermediaries to confirm information. People can share information for many units in the same construction network.

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What is Fuelling the Rally in DigiByte Cryptocurrency?

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The DigiByte ecosystem is built with an emphasis on speed and security, which are often identified as limitations on different blockchains. DGB uses a proof of work algorithm to validate and complete a transaction.

With a strong price action witnessed on DGB, we can expect it to reach 10 cents valuations shortly. The current DGB price is facing some resistance from its 100 DMA that has coincided with the wicks on daily chart candles.

DigiByte Price Analysis

One day chart with Support Levels, Resistance, Moving Average, and MACD indicator

DigiByte has an active support range at $0.0500 levels on the immediate downside and resistance at $0.0791 levels. In order to remain in trend there needs to be some profit booking or consolidation, straight-line upside momentum often carries the risk of sudden profit booking induced by some new development.

DGB is for now trading in a bullish zone with immense buying interest. The MACD indicator shows chances of the rally to continue without consolidating but, DGB should halt its rate of progression in between to continue with the upside movement. Its 100 DMA comes out at around $0.06252 levels.

One hour chart with Support Levels, Bollinger, and MACD indicator

DGB shows an immense increase in volumes over the last few hours indicating increased participation from buyers and sellers of this cryptocurrency. As MACD is nose-diving towards the red zone we expect some retracement from current levels and a second attempt at breaking the recent high created at $0.066 levels based on our DigiByte forecast.

Support on hourly charts comes out to be at $0.0579 with Bollinger Bands hitting newfound volatility. The widening of Bollinger bands indicates scope for higher volatility and continuation of the upside movement. For now, DGB seems to have taken support from the lower end of the mean average line and faces some turbulence at the mean average line indicated by red.

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TRON Negates the Fall in Valuation with Strong Buying!

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TRON has climbed huge mountains after its release in 2017 and has posted over 17650% of gains from its launch value in 2017 to September 2021. The value of TRX has undergone a huge change from $0.0022 levels to the current value of $0.9265 levels. TRON currently ranks amongst the top 30 cryptocurrencies with a market capitalization of over $6 billion with a circulating supply of 71 billion coins.

The value of Tron is straight forward a derivative of its exposed circulating supply and its potential. Comparing the numbers, TRON can process 2000 transactions per second compared to just six transactions per second of Bitcoin and 25 of Ethereum. Just comparing the numbers gives the transactional capability of TRX and its upscaling potential.

TRON has mostly focused on content creators and has used TRX coin as a way of rewarding content creators through its rewards. It even allows creators to develop their tokens and decentralize the gaming sector. Positioning itself as a content creator supporting ecosystem has enabled creators to connect directly with potential customers, eliminating centralized platforms. Considering the upscaling potential of Tron, people interested in investing here should hold their positions.

TRON Price Analysis

TRON retraced most of its lost value within a short time interval and is headed back towards $0.11 targets with a furious buying sentiment.

TRON Price Analysis

TRON underwent a surprise fall in its value within a concise time interval. The fall was responded with a huge buying action, almost equaling the selling volume on September 07 in the following day. TRON has once again jumped back to $0.0933. Surpassing the support zone will push the TRX price towards the close resistance of $0.11.

RSI levels have also jumped towards 52 from a steep decline, but the major uncertainty in sustaining the gains. If sellers activate their trades, we will witness a significant fall to the tune of its 100 DMA levels. As of now, TRON can be seen respecting its 200 DMA level of $0.08254. It is attempting a fresh price breakout but is more likely to close in an uncertain candle with wicks on both ends.

TRON price prediction

Hourly charts show consolidation as a large part of the trading action on TRX. It consolidates in a narrow range before giving a breakout and again consolidates within a narrow range. This price action is continuing, and there is a high probability of another breakout towards $0.100 levels. MACD on hourly trades has become positive again, and so has the RSI levels. RSI is now trading at above 50 levels. Combining all these indications and our TRX coin price prediction, one should hold their investments.

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