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Tron (TRX) Price Heavy Drop on the YTD Chart; Price Slips below from where it Started

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  • Tron (TRX) price experiences a heavy drop.
  • The coin would take some time to recover.

Tron (TRX) is experiencing a heavy price pullback. The coin has almost reached the level from where it began at the starting of the year. The traders in the coin are disappointed with the movement of the coin.

The currency was dealing with good momentum in the previous week. The current scenario changed the dynamics of the coin. Let’s have a look at the YTD chart of Tron.

Current Statistics of Tron (TRX):

Particulars Tron (TRX) 
Price $0.017878
ROI 786.38%
Rank 14
Market Cap $1,212,391,918
24hr Volume $429,452,789
Circulating Supply 66,682,072,191 TRX

TRX to USD Price Comparison:

The Tron chart is taken from Trading View on 19th August 2019 at 05:33:39 UTC for price analysis.

Tron price chart - Aug 19
Tron Chart By TradingView

Starting from January, the coin opened with an upsurge. The price shifted from $0.020 to $0.026 by 30.39%. The price dropped in February from $0.026 to $0.023 by 10.11%. March again witnessed a slight upsurge of 3.9%. The price switched from $0.023 to $0.024. April brought another drop of 1.41%. The price counters changed from $0.0248 to $0.0246. May brought a maximum upsurge in coin from $0.024 to $0.038 by 53.78%. June began the regression in coin. The price slipped from $0.038 to $0.032 by 15.38%. July continued the fall. The price slipped from $0.032 to $0.021 by 31.90%. In August, the price continued the drop from the beginning of the month till now. The price changed from $0.021 to $0.017.

Tron Price Prediction and Conclusion:

Tron (TRX) has a good track record. The coin was dealing with a nice momentum in the past. We are quite positive that the coin would come out of the drop soon. The currency is anticipated to close around USD 0.050. The future is quite promising for the traders in Tron.  For now, the short term investment looks most suitable for Tron.

However, we would strongly recommend distributing the investment in the cryptocurrencies to deteriorate the risk.

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Crypto News

Bitcoin Hash Rate Surpasses 102Quintillion Achieving a New Network Milestone –

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The bitcoin network appears to be growing leaps and bounds. The latest reports reveal that the network’s hash rate has surpassed record 102quintillion hashes for the first time in history. This is a historic milestone for the general crypto sphere.

Another Zero Comes into the Hash Rate

Reliable data from the monitoring resource Blockchain confirmed on September 18 that Bitcoin’s hash rate has reached a high of 102.8 quintillion hashes. Hash rate is ultimately described as a function of how secure the Bitcoin network is. The latest achievement follows a series of records for the metric in 2019.

Over the past few months, it is evident that the hash rate has grown considerably showing that the network is expanding despite the bitcoin price struggling around the $10,000 level. Hash rate is described as the amount of computing power that is involved in the processing of Bitcoin transactions.

The higher the number of hashes, the more suggested competition there is among the miners to get the block reward. Since December last year, the hash rate has progressed from recent lows of 31 quintillion hashes per second equalling the progress to around 230%.

Bitcoin Bulls Await Price Implications

The current hash rate growth has excited most commentators. However, they are still wary of the moderate decline in the Bitcoin price. The new upward action for hash rate seems to point to a future price growth as many commentators suggest. The hash rate started growing in January after many months of decline and the price following the upward trend in April.

Lightning Torch organizer Hodlonaut commented on the current rate of growth. Hodlonaut stated that the figures spoke to the underlying confidence that has developed among the miners. He forecast:

“Last readjustment period (2016 blocks, or around 2 weeks) increased 10.38%. We are about halfway through the current readjustment period, and on track for another 11.85% increase.”

Many other bitcoin proponents have already given their more bullish predictions. Some of these crypto bulls are still adamantly sticking to their predictions that the token will hit a new all-time high before the end of 2019.

Max Keiser is a firm believer in Bitcoin’s prowess over all the altcoins. He has often doubled down on his forecast of giant surges in both hash rate and price in the short-term. Whether the price will follow the hash rate growth or not, only time will tell.

John Wanguba

John Wanguba

John is a content crafter and has experience in writing Forex and Crypto news for FXTimes for over a year. He is also an experienced creative and technical writer, and is usually one of the first ones to publish, discover or cover a scoop. e-mail: john@fxtimes.com



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