Siacoin Price Prediction: Will SC Price Hit Its ATH In 2022?

  The Crypto sphere has garnered massive crowd attention over the years. With a number of digital assets, that have brought virtues to the portfolios of investors. One such altcoin that had amazed the space in the recent past was Siacoin (SC). Which had stunned not one but many with its price projections. 

Siacoin is one of the eminent cryptocurrencies existing in the crypto space. It is a decentralized cloud storage platform secured by blockchain technology. Sia network stimulates underutilized hard drive capacities around the world.

Are you one of the many, who are keen on investing in Siacoin, but doubtful of its returns? Look no further, as we decode the plausible price predictions of SC for 2022 and the years to come. 

Overview

Siacoin (SC) Price Prediction For 2022

  Siacoin has been choppy since the start of the year, as it was just between $0.015 and $0.016. Taking the brunt of the market crash on the 5th of January, the price of Siacoin underwent a steep fall. Plummeting by over 11% reaching $0.01414. As the bearish trends continued to dominate the space, amidst the massive sell-offs. The price plunged to $0.0093 by the 22nd of January. 

After hovering closer to the levels, on the 3rd of February, the digital asset portrayed a leg-up. Which took the price to $0.01215 by the 9th of February. Further, the crypto asset took a plunge to $0.00826 amidst persistent geopolitical tensions between Russia and Ukraine. Alongside soaring inflation numbers. Thereafter, Siacoin picked up a steady ascend to $0.01378 by the end of the quarter. 

Siacoin (SC) Price Prediction For Q2

  Siacoin has taken a steep fall since the start of the quarter, with losses accounting for 64.27%. The crypto asset is now attempting to establish its hold at the support level of $0.00523. If the buyers intervene, a reversal in trend could help the price claim its quarterly high of $0.0703. 

On the flip side, if the sellers continue to out-weigh the buyers, SC’s price might face its potential low of $0.00451. That said, an equilibrium in buying and selling pressures could land the price at $0.00451. 

Forecast Of SC For Q3

  The fundamental strengths of the protocol such as privacy, high redundancy. And affordable costs amongst others might welcome new adoptions and collaborations. Which might push the price to its potential high of $0.01011. 

Conversely, the possibility of failing compliance and negative criticism could slash the price to $0.00676. Collectively, constrained by linear price propulsion, the average price might settle at $0.0085. 

Prediction Of Siacoin For Q4

 If the network focuses on developments and building the community, the user base might see stimulating growth. In such a case, the price of the crypto asset might escalate to its maximum of $0.01404. In contrast, the price of Siacoin might plunge as low as $0.00933. Concluding, considering the bullish and bearish targets the average price might settle at $0.0116. 

SC’s Price Forecast For 2023

  The crypto asset might focus on resolving shortcomings and strive towards decentralized storage of files. This might help boost traffic and volumes to the network. Which might stimulate the projection of price to its potential high of $0.02586. However, factors like a financial crisis or regulatory clampdown might bring the price down to $0.01343. 

Siacoin’s Price Prediction For 2024

  If makers of the Siacoin announce notable adoptions and collaborations, the price might climb up to a maximum of $0.046. On the other hand, if the bears outrun the bulls, the price of Siacoin might tumble down to a minimum of $0.0247 by the end of 2024. 

Price Trajectory For 2025

  By the end of 2025, Siacoin might provide a more seamless and user-friendly platform. And it would concentrate on the enhancement of its security. Sia might release its newer versions for the betterment of users. It would also concentrate on building the user base. Wherefore, the price might hit a maximum of $0.07763. On the downside, the price might fall to $0.04328. 

What Does The Market Say?

Wallet Investor:

  According to Wallet Investor’s prediction, Siacoin might hit a maximum of $0.021 by the end of 2022. A balance in buying and selling pressures could settle the price at $0.01. The forecast has pinned the maximum price target for 2023 and 2025 at $0.0256 and $0.0449.  

Trading Beasts:

Trading Beasts predicts that SC’s price might surge to a maximum of $0.00984 by the end of 2022. The analysts from the firm expect the minimum and average price to fall at $0.0066 and $0.007876. The firm also holds the forecast for the long term. Trading Beasts anticipates SC to close 2025’s trade at a maximum of $0.0173.  

Digital Coin Price:

  As per the forecast of Digital Coin Price, Siacoin could surge as high as $0.00728 by the end of 2022. The company has set the maximum closing targets for 2023 and 2025 at $0.00847 and $0.0114. 

Click here to read our price prediction of UMA!

What Is Siacoin?

  Siacoin is a cryptocurrency that runs on the Sia network, a decentralized cloud storage system. That lets anybody rent out spare hard drive space or employ other people’s spare hard drive space to store files. The Sia network is more secure and cost-efficient. Users are allowed to utilize unused space on their hard drives. They will be able to rent it in Sia and earn rewards from it, in the form of Siacoins.

Siacoin was founded by David Vorick and Luke Champine of Nebulous incorporation. Siacoin offers secured storage transactions with smart contracts which are more reliable and affordable. 

As per the SC’s whitepaper, the aim of sia is to counter the challenges in existing storage solutions.

SC utilizes a dual token system- Siacoin and Siafunds. The main utility token of the network is Siacoin. There is no limit set for Siacoin mining. The reward for the first block mined was 300k sia tokens, which will reduce to 30k Siacoins per block over time.

Fundamental Analysis

  The network sees itself as being in direct competition with reputed cloud storage providers such as Google, Amazon, and Microsoft. As Sia exhibits decentralized nature, it is able to provide reasonable storage rates.

Files stored on the Sia network are divided into 30 encrypted segments, with each segment uploaded to a unique host for redundancy. The contracts between uploaders and hosts are stored on Sia’s blockchain and enforced using smart contracts. Siacoin acts as the mode of payment on the blockchain, with renters paying hosts using SC. And hosts locking SC in smart contracts as collateral.

Skynet, the company behind Sia and Siacoin, has announced a number of products built on top of the Sia network. Including SiaStream — a cloud-based media streaming application — and the Skynet network — its flagship content delivery and file-sharing network.

The company has raised funding and grants, from reputed organizations such as Bain Capital Ventures, Paradigm, and blockchain. In addition, each storage-related transaction on the Sia network is subject to a 3.9% fee. Which is distributed to holders of the company’s second cryptocurrency, Siafund — with Skynet holding approximately 85% of all Siafund.

Our Price Prediction

Siacoin is thriving to enable a secure, trustless marketplace for cloud storage in which traders can give access to the unutilized storage space. The altcoin appears to be superior for the future perspectives. As there are high chances of price bouncing from the key bottom support in the short term. 

As per Coinpedia’s formulated Siacoin price prediction. The price of the digital asset might soar as high as $0.014 by the end of 2022. On the downside, factors like negative criticism and liquidations might bring the price down to $0.009. 

Historical Price Sentiments

2015

Siacoin entered the crypto market at the end of August 2015 with its price trading at $0.000042. The price managed to remain stable throughout the year with certain variations and continued to be in the same trend for two years. 

2017

From the end of April 2017, the price had a minor change as Siacoin was trading at $0.0009. Steadily the price started increasing. The price dramatically rose to $0.0188 at the end of June 2017. And further plunged to $0.007 at the beginning of November 2017.  Later on, the price moved upward and Siacoin reached the price of $0.0296 by the end of 2017.

2018

Siacoin entered the year 2018 with a price of $0.0303. Dramatically, the price rose to $0.094 by early January. Siacoin hit $0.1117 to record its new All-Time-High. Later, the price started to vary. Siacoin managed to be in the range of $0.0237 in the month of February. Siacoin’s price again sank to $0.0097 in mid-March. 

Later, the price started to recover as it reached $0.0283 by early May, as Siacoin got listed in the crypto exchange platform Binance. Further, the price continued to plunge. At the end of 2018, Siacoin was trading at $0.0027.

2019

Siacoin started to trade at the price of $0.0027 in 2019. The price remained stable with certain variations throughout the year. At the end of 2019, Siacoin was trading at $0.0013.

2020

Siacoin started the year 2020 with a bearish trend as the price was at a stake of $0.0013 at the start of January. Later, the price reached $0.002 by the end of February. Siacoin again declined to $0.001 by mid-March as the crash of the crypto market due to the Covid-19 outbreak. Later Siacoin attained its resistance level by reaching $0.004 by early September. Further, the price started to fall. Siacoin traded between $0.002 and $0.003 until the end of November. By the end of 2020, Siacoin traded at $0.003.

2021

With certain improvements, Siacoin traded at the price of $0.005 during January. The Siacoin price has lately caught the pace of the alt season in early 2021. In March, the asset managed to generate a two-year high at $0.06292. However, bulls failed to carry the price action for the long term. Further, the asset has plummeted to support of $0.01065 owing to the May market crash. 

SC price has failed to rise up to the expectations. However, with certain fluctuations, the token has risen up to $0.025 on November 29th. While it was slowly regaining its bullish momentum, the recent market crash plummeted the price to $0.016. However, selling pressure continued till the year-end with no positive volatility. 

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