With Cryptocurrencies being all the buzz, everyone is currently looking out for the next coin that will skyrocket. That said, look no further than Tron. At the start of last month, Tron was trading for about one-fifth of a cent. Fast forward to January 5 and Tron rose to $0.25, gaining in a matter of a couple weeks 12,400%. With that, the Tron coin had officially established itself a position as one of the growing players.
Amidst corrections made last year, the world of cryptocurrencies got hit by hard. Tron was one of the many to take that harsh blow. Given how fast it was growing by the end of last year, the corrections hit Tron harder than the more established alternative coins. It was a major setback for Tron.
Right now Tron is down to a $00.06 a coin. Obviously, things aren’t looking as good as they did back in December, but don’t give up on this Tron just yet. The longer-term potential of the coin is actually looking good when compared to most. One has to think about the aspects of the coin that made it jump, to begin with.
Fear of missing out was a big part of what drove this coin’s price rise. People saw something taking off slowly and wanted a part of it before it could skyrocket without them. The individuals who bought into the coin were satisfied when Tron started to take off. It ran and when they pulled out they were left with a handsome little profit.
Now that things aren’t looking so hot, investors are looking to the cryptocurrency with a speculative eye. Will this currency rise? It’s a chance they have to take and they likely will when they think back to what they’ve gained from Tron last year. The advantage it has is all psychological and a psychological advantage can pay off.