Now that all of the markets have turned incredibly bearish, all of the positivity has left the industry once again. Although Sundays usually provide bearish momentum, today’s deficit is quite steep. Holders of TRX will not be too pleased with the current Tron price. The steep losses are causing a lot of unrest on the market, which is only to be expected at this time.
When Will The Tron Price Recover?
Every single time the value of Bitcoin drops by even the smallest amount, all other markets will quickly follow suit. Tron is no exception in this regard, as it too relies on Bitcoin’s price trend first and foremost. That symbiotic relationship is now claiming its toll, as Tron loses a lot more value than Bitcoin. Not a good trend to end the week on, although there isn’t much that can be done about it.
To put this in perspective, the Tron price has lost nearly 7% in value over the past two to three hours. Because of this dip, the USD value of this token has now dropped to $0.0234. There is also a 1.5% dropoff in TRX/BTC, pushing the ratio down to 615 Satoshi. It is red all across the board, although Tron is not the only market facing a lot of pressure at this time.
On social media, there is a lot of excitement, regardless of what the price may be at the time. Justin Sun has confirmed Tron will receive another major protocol upgrade in a few days. Several new features will be introduced, including performance improvements and multisig support. A very promising upgrade, by the look of things.
#TRON will launch 3.5 hard fork upgrade on 2/28. New Features: 1. multi-sig and acct mng, institution ready 2. Dynamic energy adjustment to real-time network performance 3. 50% up performance & res usage 4. Better VM safety, events server for Dapps. Go! #TRX $TRX
— Justin Sun (@justinsuntron) February 24, 2019
There is still some confusion as to what the correlation between Tron and BitTorrent Token will be. As Goldn explains, they complement one another to create the “watching Netflix on Android” experience of cryptocurrency. A very bold claim, as there is no point in comparing completely different things with Tron or BTT.
— Goldn (@Cryptogoldn) February 24, 2019
In fact, comments like those tend to attract a lot of backlash. Some people consider such bold claims to be clear shilling attempts. WeitBlick, for example, is convinced Netflix and Android are real, whereas Tron has yet to fulfill on nearly all of its promises. A valid point, although one that will undoubtedly create some debates as well.
— WeitBlick (@Knuddelmuh) February 24, 2019
For the time being, there is no clear indication as to how long this downtrend will remain in place. Until Bitcoin goes into the green again, it seems unlikely any of the alternative markets will be able to. For Tron, this drop comes at a crucial time, as one would expect a bullish surge prior to this newly announced protocol upgrade. That can still materialize in the coming days, but for now, nothing is certain.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.