Tron (TRX) is probably the most trolled crypto on online forums. This is largely because the price of this crypto has taken a huge beating in the crypto bear that has lasted for 7 months now. Tron’s problems have been worsened by the fact that it has pretty much become unresponsive to good news.
In the last couple of months, Tron has released lots of good news including the main net launch, but the price has largely been unresponsive. If anything it has dropped with every news release of good news, which has led many investors to flee from this project. However, for brave investors who have the capacity to see beyond the price, Tron (TRX) could make for make for a great long term investment.
A quick glance at Tron’s long-term chart shows that it has formed what looks like a long-term double bottom. Tron is now trading at the same low as it did in March this year. In technical analysis, longer term chart patterns tend to hold-up better than daily and hourly ones. As such, the Tron (TRX) double-bottom could actually hold and mark the beginning of a long-term rise in the price of Tron. It may not be a drastic rise because most investors are still afraid of committing money in Tron, but it will be a noticeable rise over time.
Away from the technicals, Tron has some solid fundamentals supporting it at the moment. Recently, Justin Sun bought bit-torrent, a platform that has more than 100 million users. They have also recently integrated it into the Tron ecosystem. Through this purchase, Tron (TRX) now has world class data storage and distribution capabilities, through decentralized systems. This combines quite well with the fact that Tron is now an independent blockchain with capabilities that rival those of larger platform blockchains such as Ethereum.
A combination between these two means that powerful Dapps especially those targeted at the entertainment industry will emerge from the Tron ecosystem. Tron could very easily emerge as the decentralized platform that rivals the likes of YouTube and Facebook. This makes it highly undervalued at current prices. As this use-case starts to take shape, its value will rise. The rise may not be drastic but in the long-run, people will look back and realize how far Tron (TRX) has come, when it will be trading at multiples of what it is today.
On top of that, Tron (TRX) has a good and solid team behind it. Justin Sun has so far proven himself as a good leader. Every milestone that Tron has made has been achieved on time so far. These milestones may not have led to an increase in price, but that is simply due to the fact that cypto has been on a bear run.
In all financial markets, good news tend to have a little impact on price, but once the bulls return, such moves lead to an increase in price. The same will happen to happen to Tron (TRX) once the markets rebound. Every achievement it has will reinforce its price on the way up.