Tron (TRX) has been pretty beat up in the last few weeks after the main net selloff, which was followed by the recent market wide drop that has seen Tron drop to $0.04. This may tempt one to sell Tron but if you look at the moves that Tron has been making in the last few weeks, the best decision would be to hold it.
One of those moves is the purchase of Bit torrent by Justin Sun. While this was a personal purchase, Justin is the head of Tron, which means that at some point it will be integrated with the Tron blockchain. The most interesting thing about this purchase is that it comes after Rainberry Inc, the company that owns bit torrent, was awarded a patent for peer-to-peer live streaming.
This patent could see Tron (TRX) become the dominant player in the fast-growing peer-to-peer data sharing ecosystem. Once bit torrent gets integrated into the Tron network, this patent could help push Tron (TRX) to over $1 in 2018. This was a smart move by Justin and Tron investors should take the hint before the price skyrockets from its current super low levels.
On top of that, more exchanges are listing Tron (TRX) – USD pairs, and this will play a role in driving up the value of Tron (TRX). That’s because at this point, it is clear that most good cryptos are being held back by bitcoin. That’s why Tron has been dropping heavily for the last one week. But this will change once more people are able to purchase Tron (TRX) using fiat. It will slowly severe the link between Tron and other good cryptos from bitcoin and push them to the moon. Three days ago, Binance added Tron/USDT pairing. While its impact on Tron (TRX) may not be instant, it will play a major role in driving up the value of Tron (TRX) in the long-run. As such, this is the best time to get into Tron (TRX) way before its value skyrockets.
Besides, looking at Tron (TRX) chart, it is clear that it is about to shoot up in value in the near-term. On the weekly charts, Tron (TRX) is trading at a major long-term support level, around $0.04 – $0.035. The fact that it has not dropped lower than this level despite the market crash shows that Tron (TRX) is about to skyrocket. If Tron (TRX) breaks above this range, it could easily reach $0.10 in a few weeks. However, unlike in the past, Tron now has its own main net, which means that the launch of Dapps on the network will see its price push higher than this level. Going by the features of the Tron (TRX) blockchain such as high transaction speeds and low costs, it is almost given that there will be a Dapps explosion on Tron. This will see Tron (TRX) hit a valuation of $1 and above within 2018. It’s time to buy.