Elliott Wave Crypto Trader Shares Why Tron is One of Most Profitable Cryptocurrencies
There are several Tron (TRX) enthusiasts that believe that this cryptocurrency would be one of the most valuable coins in the market. And this is certainly something very plausible. According to a TradingView user, Intuit, Tron could be one of the most profitable cryptos ever.
In a post, he mentioned that Tron has different technical patterns that would make it one of the most profitable coins over the next year.
He starts the article explaining that there are three different in price and one difference in time between adjacent waves. He then says that because major trends are correlated Tron has finally found a bottom. After it, there will be a bull market similar to the one that we have experienced back in December 2017.
If that happens, Tron would be one of the most profitable cryptocurrencies the next year.
Furthermore, he says that negative media and the bear market, have already shaken the weak hands from the market. Moreover, it has an important team behind it and working to offer great products and services, and it has already bought important companies such as BitTorrent.
Intuit then says that one of the companies that aims to integrate Tron, Peiwo, has already been backed by the Chinese government. This is very positive because it allows them to have special access to funding and resources from the government. Additionally, Justin Sun has several contacts in the industry, including Jack Ma, founder of Alibaba, who could integrate its platform with Tron in the near future.
In another paragraph, the trading expert mentioned some technical aspects of the cryptocurrency. Some of them were the amount of transactions per second it can handle and the virtual machine that has made it easy for Ethereum developers to work within the Tron ecosystem.
Scaling issues are a hard topic for Bitcoin and for Ethereum, but not for Tron, which has been specifically designed to easily scale. This scaling issue is going to affect Bitcoin, according to Intuit. Several individuals would move to other virtual currencies that may end up being much larger than Bitcoin itself in terms of market capitalization.
At the end of his post, he attacks fiat currencies saying that they would not be able to compete against cryptocurrencies due to the fact that they are inflationary currencies. Instead, digital assets are deflationary, and users would start to use them and save money with them rather than with US dollars or other fiat currency.
About it, he mentioned:
“Compared to most cryptos, the dollars has extremely restricted use cases, and we will easily see top cryptos over taking the dollar in market capitalization (20T`) over the next few years.”
At the moment of writing, Tron is the 13th most valuable virtual currency in the market. It has a market capitalization of $1.36 billion dollars and each coin can be bought for $0.02 dollars.