SIA Prediction - Is Siacoin A Good Long-Term Investment?
Siacoin is a well-known Altcoin and one of the most well-known cryptocurrencies currently available. It is based on the Sia network, which is the basis of its name, Siacoin. David Vorick and Luke Champine of Nebulous Incorporated were the first to present the currency in 2013.
Sia is a participant in the decentralized storage market. The cloud storage business is vast, and firms like Sia are seeking to challenge Dropbox, Amazon S3, and Google Drive's supremacy.
Because of the hype behind its name, many are asking if it will be a good investment in the long run, or if it will garner high returns any time at all. Find out in this Sia prediction article.
The current Siacoin price is $0.018051, with a trading volume of $64,498,281in the last 24 hours. In the previous 24 hours, Siacoin has lost 1.18% of its value. With a live market cap of $895,486,533 USD, CoinMarketCap now ranks #99.
Even so, the SC coins are expected to have a bright future in the crypto and blockchain industries. By the end of 2021, it will have surpassed $0.0285.
Siacoin is expected to reach $0.0364 in the next 90 days, a 51.5% increase over its current price.
In keeping with the positive trend, there are projections that Siacoin would have a price increase next year, in 2022. Based on past data and current trends, the Siacoin price is expected to reach $0.038.
The coin's price increase may halt in the second half of 2022, but no substantial correction is expected.
It has the potential to reach $0.0364 in the near future. It might rise to $0.3886 or even higher in the long run (8-10 years).
According to shorter and longer price patterns, Siacoin's first half of 2023 may not be as promising. Nonetheless, it is expected that during this period, the Sia live network would gather a significant user base in the crypto market. Siacoin should be held or invested in because it may reach $0.045 by the end of 2023.
Due to the upcoming Bitcoin halving, the whole crypto ecosystem may see a bullish cycle over the next five years. As a result, Siacoin may not experience a negative trend at all.
Furthermore, Sia Network may be able to accomplish improved protection and keep up with the current advances. As a result, the SC price has a good chance of crossing $0.070.
There is definitely a possibility of Siacoin’s price dropping in the future. It’s important to remember that there is nothing sure about Sia and any other cryptocurrencies at that.
Various factors contribute to the failure of cryptocurrency ventures. Some of the most common ones include: a team goes rogue and abandons the project, regulators declare it illegal, and the press calls for it to be delisted, a lack of media attention, more successful competitors, a lack of well-designed marketing strategy, a loss of community support, a potential vulnerability in the protocol, and likes.
Siacoin managed to acquire popularity within the crypto business towards the end of August 2015, according to data from Coinmarketcap.
It had a beginning value of $0.000042. Siacoin's current price is $0.018657, according to CoinDesk, and it appears that its price has been stable for the past two years. Siacoin is not a suitable investment if you are seeking a currency with large returns.
Please remember to take this and any other prognosis with a grain of salt, since predicting anything, let alone the future of a novel, highly volatile financial asset like Sia Coin, is a thankless effort.