Everyone is looking for next Ripple. So here we go...
This is TRON (TRXBTC) 4 hrs chart. I will give you my fundamental and short technical analysis.
Why TRON?
Technically speaking, TRON had a pump and dump rally in last 5 days. Short-term investors are getting out of it and going to other cryptos for pumps. I expect TRXBTC to turn around at 700 satoshis($0.13-$0.14). Expect some consolidation and swings but long-term trajectory should hold as long as the company makes progress in next two weeks.
As Justin Sun, CEO of TRON foundation has said, he is expecting to announce a partnership with a huge NASDAQ company. Everyone is expecting that to be Alibaba (BABA-please look into investing in this as a long-term holding). To further this evidence, TRON's new office in San Franciso is only 2 blocks away. He is currently flying to San Franciso according to his tweeter feed. Hint, hint. Honestly, this could mean nothing but there is some concrete relationship for sure. I expect some news within next ten days first coming out of NASDAQ and then confirmation from TRON. There is a reason their office is located in San Francisco. I have look at the filling Justin Sun posted yesterday for TRON foundation. It is incorporated in Delaware as every other big corporation (AT&T, DuPont, and my dad's own company) to save taxes!! This shows that this company knows what they are doing and how to use their money wisely.
Another reason I believe that TRON is a good holding in your crypto portfolio is the history of Justin Sun who was a core member of original Ripple team.
This company is in early stages so expect some time before it takes off. There will be some hurdles as in any business but with right mentorship and motivation, this could be unstoppable because of their main focus in China and US and their focus on changing how the internet works.
If you are already invested in TRX then hold and do not sell for loss at least for next 2 weeks. If you are looking to initiate a position, the buying opportunity is here before more exchanges start listing it. Remember, long and steady wins the race. As always, keep an eye on your investment and minimize losses and maximize gains. Always do your own homework and research.
My reasonable targets in US dollar value for TRX are : $0.25 in 2 weeks. $0.30-0.40 by end of February.
Disclosure: I have some XRP and TRX.
TRON has lots of volume, will definitely touch $1 in about 6 months.
Short term investors or speculators/traders? ;) I think by definition if you're an investor then you're long term. I also don't think that being a speculator or trader is bad either. But it is good to recognize if you're investing or trading. Different perspectives.
I'm a fan of Tron too :)
Thanks for your comment. I do both short and long term. Take some profit when it reaches your target and let some of your investment run for long.
Well for now with the big uptrend in general, there's a lot of good opportunities for both short and long :)
Haha yeah you did :)
Thank you and have stupped by to provide the information