Cryptocurrency is one of the most talked-about topics in the past 2 years or so. It is a digital virtual coin secure by cryptography which makes it impossible to counterfeit. In recent times it has become an alternative for traditional securities. The traffic in the Crypto market is ever increasing thus taking Cryptocurrency to a new height in the stock market. A lot of people are investing in this latter-day digital coin. Dogecoin and Bitcoin are prime examples of what cryptocurrencies have achieved so far. In this article we will talk about Siacoin Price Prediction, when will it reach $1 and what is its current position in the market.
Note: The Cryptocurrency market isn’t a place of luck. It’s a place for taking risks and making profits. The only thing important is that one takes a calculated risk. Having correct knowledge and information one can rule the stock market. So let’s begin and get to know everything about this Price Prediction.
What is Siacoin?
Siacoin is the native cryptocurrency of the Sia Platform. Sia is a decentralized cloud storage platform, a blockchain based open-source platform. A decentralized Sia network comes into play in case you have unused storage capacity on your PC. You can lease the storage space and can get paid in Siacoin.
Siacoin is designed in a way to enable and allow the undertaking of file storage contracts on the Sia network. The host, who lease the storage will get paid in Siacoin at the end of the deal. However, you have to keep in mind as a host you are responsible for the files stored. If these files got lost or the host went offline during the period as per the contract, he won’t be paid anything.
Also Read – Is Cardano Better Than Bitcoin? What Is The Maximum Cardano Can Reach?
Current Market Situation
At the time of writing the article, Siacoin is surging in the market with a growth of 12.48% in the last 24 hours. Siacoin’s current value is $0.022614. Its been trading between $0.19 to $0.0227 and is placed at 91st position in coinmarketcap rankings. Taking the surge into account we will now move on to the Siacoin Price Prediction part.
Siacoin Price Prediction
- According to Tradingbeasts, Siacoin would reach the $0.159450 at the beginning of 2025
- Walletinvestor forecasts the price of Siacoin to be around $0.0319 by the year 2021 and by 2025 it will be $0.0824. It expect investors to get $367.86 by investing $100 now.
- According to Digitalcoinprice predictions, by the end of 2025, the coin would trade at $0.0577.
Looking at all these predictions clearly states one thing. Siacoin won’t be reaching $1 anytime soon. It might have to wait a bit longer than that. But it all depends on how market is in future.
All these predictions are based on custom algorithms which takes various factors and variables into account. Crypto market is highly volatile and involves higher risks. We request our readers to do their own research before investing.
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