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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Tron Price Analysis: BitTorrent Speed Set For Q2 2019, TRX Outperforms

Dalmas Ngetich
Dalmas Ngetich
1 year ago
2 mins read

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  • Tron price vibrant, adds 4.7 percent in the last day
  • BitTorrent Speed to reward and incentivize users
  • Participation on the rise, bulls in control

A combination of favorable candlestick formation and fundamentals mean TRX is a top performer in the last day. The coin is up 4.7 percent and looks likely to expand towards 4 cents in coming days validating our previous TRX/USD trade plans.

Tron Price Analysis

Fundamentals

Behind Tron is BitTorrent. Billed as the world’s largest peer to peer network, it is more than software. BitTorrent is a protocol complete with 170 million users on a monthly average. After a successful acquisition, the protocol is now under Tron, and after successful tokenization and crowdfunding off Binance Launchpad, Tron and BitTorrent Foundation plan to roll out a new product. Dubbed BitTorrent Speed, it shall operate according to the tenets of BitTorrent and BTT—that of rewarding and oiling a token economy.

“BitTorrent Speed is a new product that rewards BitTorrent users with BitTorrent (BTT) in exchange for seeding and bandwidth, enabling faster downloads on BitTorrent products.”

The product will launch on the “µTorrent Classic Windows client.” Before then, users will have the option of purchasing the facilitating, TRC-10 utility token not only from Binance or Kucoin but from CoinTiger, UpBit, OkEx, and BitBNS. BitTorrent Speed will launch in Q2 2019.

Candlestick Arrangements

Tron

So far, TRX is the top performer after adding 10 percent in the Asian session. Prices have since cooled off but in line with our previous TRX/USD trade plans. All the same, it is up 4.7 percent in the last day meaning it is a top performer in the top 10.

From recent TRX/USD price analysis, we had maintained that bulls are in control within a bull trade out pattern as long as prices trend above 2.5 cents. Our assertion was for aggressive traders to buy on every dip while risk-averse traders should wait for a clear close above the inverted hammer of Jan 27 at 3.1 cents.

Since risk-off traders are in green, our trade plan remains valid, and we expect BTT induced pump to thrust TRX prices above 4 cents and later 6 cents.

Technical Indicators

Like before the trend is bullish and with an influx of bulls earlier today, we expect buyers to sustain this pump. However, for risk-averse traders to initiate positions on dips, there must be a high-volume bullish candlestick pattern driving prices above 3.1 cents. Accompanying this bull bar should be volumes exceeding Jan 14’s 50 million.

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Dalmas Ngetich
Dalmas Ngetich

Dalmas Ngetich

Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape.

Read more

His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto.
The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance.

His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry.

Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion.

Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers.

DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations.
Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language.

Dalmas is here to help make the tech easy to understand and digestible, even for beginners.
The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential.
This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting.

Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature.

When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills.
You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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