Siacoin Price Prediction 2022-2031: Is SC a Good Investment?

The selling point of the Siacoin platform is that network users rent space on a peer-to-peer (P2P) basis, thereby lowering their pay rates. Users retain the private keys to access and control their data files. Payments on the Sia platform are made with the SC token.

Skynet, built on top of Sia, has announced releasing version 3.0 of the decentralized alternative of Google Docs. The user can log in using Web 3.0 solutions like MetaMask and Definity. There are more than 10,000 websites and web apps available on Skynet. Sia has capacity storage of 6.7pb, 608 storage providers, and 1912TB of storage used.

https://twitter.com/katja_moeller/status/1478407067627139086?s=20

Today’s Siacoin price is $0.004245 USD with a 24-hour trading volume of $10,142,779. Siacoin has been down 9.79% in the last 24 hours. The current CoinMarketCap ranking is #126, with a live market cap of $218,601,493 USD. It has a circulating supply of 51,500,962,992 SC coins, and the maximum supply is not available.

Are you curious about the price prediction on Siacoin? We will discuss all you need about Siacoin’s price, including the exchanges to trade it and pairs.

Also Read:
• Siacoin Wallet: Decentralized Cost-Effective Crypto Wallet

Siacoin Overview

Siacoin is a decentralized storage network that enables users to store files without relying on a centralized entity. The concept of Siacoin is similar to Google Drive and Dropbox, but instead, the network users rent storage space in a peer-to-peer network. The data is encrypted and distributed on the network. The user has the private keys to access and fully control their data.

The technology makes it possible to encrypt data for safety reasons, split it, and share it in nodes. The information is stored safely and even reassembled. This technology is similar to what is used by the eminent cryptocurrency.

There are fees involved in this storage system for keeping and sharing things, like hosting fees. These charges can be paid using the native currency of the platform.

These whole transactions can be done using smart contracts. With these smart storage contracts, the whole process can be done without involving a third party. It will work with the set of rules imputed to it and automatically execute itself.

Now that it is clear that Siacoin is a worthy coin. Let’s go into the price prediction proper. You will learn all you need to from the Siacoin price forecast.

Price Prediction siacoin
Price Prediction Siacoin

Siacoin Potential Use Cases

Siacoin has excellent potential in the cryptocurrency space. It is an intelligent alternative to the traditional storage system and covers the shortcomings that have been a drawback of the centralized system. It aims to overtake the centralized system of data storage.

What is on people’s minds is if the middleman can be totally removed and Siacoin becomes the leading cloud storage provider. Well, there is potential. Siacoin is actually cheaper compared to the centralized option. Yet, SC value is in no form diminished.

Also, if the developers can imprint Siacoin on users’ minds and direct traffic their way, it will excel. If their product is popular and is a go-to cloud storage provider, which it aims to be, then the token will be worth more in the cryptocurrency market.

Siacoin has a circulating supply of 48,868,162,992 Siacoin coins, and the most popular crypto exchange for trading them is Binance. The maximum number of SC that will be circulated has not yet been revealed.

Is it safe to invest in Siacoin (SC) now?

Perhaps you are considering investing in the Sia blockchain and wondering if it is a good investment. Well, you are not alone.

However, you have to consider some factors before leaping. It is advisable to consider the advantages as well as the shortcomings of this platform. It would help if you looked into the possible price movement we highlighted above.

Since there are others like it available and open to users, you might consider other options better as it might have to overcome a high resistance level to rise. However, you might choose to stick with this one, given the advantages it offers.

Siacoin offers a decentralized storage system that is an advantage compared to centralized storage. Blockchain technology has many uses that have put it on the global map with no sign of descending the height it occupies on the ladder.

However, its cloud computing and storage capabilities have been underexplored even though they are essential. Its advantages are enough reasons to make it a part of everyday usage. Decentralized data storage is strong in some areas where the centralized data storage system does not measure.

For one thing, the decentralized storage system is more secure than the centralized one. For instance, if Google or Amazon S3, centralized storage systems, are exposed to malicious attacks, the effect will be devastating. The financial and personal data will be compromised, and the consequences might be grave depending on the information they contain.

However, with the decentralized option, security is tighter. The blockchain-based storage encrypts the information, partitioning it, sharing it, and storing the bits in multiple nodes. This way, the only person who has access to the sensitive information is the person who has the encryption key, and it is this person who can view the entire data.

This is one way the blockchain system has improved data security and guaranteed preserved information. It drastically reduces the occurrences of compromised information and the consequences.

Another reason decentralized storage is an excellent choice at any time is its efficiency. Transacting data is more efficient as it saves you time and energy. You can have a complete transaction done quickly, unlike when the whole system was handled in the traditional setting.

Also, the blockchain system is cheaper to operate. With the blockchain storage, you have to pay 2 euros per terabyte monthly. With Apply, you have to pay 5 euros per 2 terabytes monthly. The blockchain system can buy your storage space with the native currency or digital coin.

The system’s decentralization makes it a better option for its transparency and autonomy. It gives authority to the users such that they do not need third-party prying into their businesses. The information stored in the nodes cannot be easily compromised compared to the centralized one.

Despite these pros, there are cons that the decentralized storage system presents, and you have to consider them as well. The blockchain network will need a minimum number of digital coins to access space in the decentralized system.

Also, you might find it difficult to understand the developers’ plans. The network hash rate and issuance are other areas of concern.

After looking at both sides, the pros and cons, you have to decide which way to go. However, it is necessary to state that the advantages of the decentralized storage system outweigh its shortcomings. Or, how else do we explain the surge for it even if we have had the traditional system with us all along?

How to buy Siacoin from an exchange

Siacoin Price Prediction
Siacoin Price Prediction

Buying Siacoin from a cryptocurrency exchange does not involve a long process. With a few steps, you can make your transaction seamlessly. Several exchanges support Siacoin, but this illustration will use Bittrex.

  • Sign up with Bittrex

Signing up with Bittrex is the first step to trading on the platform. To sign up on this exchange, you will have to provide your details and perform identity verification. This process is simple and the same for other platforms. The differences will not be enough to confuse you.

  • Find the market and trade

After signing up, you will have to find the market you are interested in and buy. You can buy Siacoin with Bitcoin or USD.

  • Make your selection

You trade by selecting the amount of Siacoin you want to buy and at what rate you want to buy it. If you are new to crypto trading, it is advisable to start trading with as little as possible. If you are better at trading over some time, you can venture to invest higher than you have been trading.

After this process, you will have successfully funded your Bittrex account. Storing Siacoin in an exchange wallet is not the eat option you can go with. This is because you won’t be able to use Sia with it, and it is not really safe.

  • Transfer your asset

You must transfer your asset from the Bittrex account to your Sia wallet. You do this by creating a Sia address and then sending the digital asset from Bittrex to the address.

Buy Sia with Transak

Transak is another option for purchasing Siacoin. With Transak, you can easily get Siacoin with your credit or debit card. However, this offer comes with some fees. Considering your need for services, paying a small amount is not a big deal.

Another aspect of using Transak is limiting the amount of Siacoin you can buy at a time. If what you need is within the range of the limit, you will have no issues. If you are new to crypto trading and following investment advice to trade as little as possible, this might not be an issue for you. The amount of Siacoin you will need would most likely fall within the purchase limit.

Siacoin Technical Analysis

Siacoin price analysis indicates the digital asset has been declining in the last few days, making lower lows and lower highs. The stochastic indicator is currently in the oversold region but appears to be flat at 20 percent. The current trading price is $0.004266 after a continuous decline in the last seven days. The momentum has slowed down recently, and the digital asset is down by 7.72 percent.

The immediate support levels are at $0.00400and $0.003733, while the immediate resistance levels are at $0.004806 and $0.005126.A break above the descending trend line could see Siacoin prices rallying to $0.006, while a breakdown of support could see prices falling to new lows around $0.002.

The moving averages measure the average price of an asset over a specific period of time. The 50-day moving average is currently above the 200-day moving average, indicating that the digital asset is in a bullish trend. A break below the current level could see prices falling to $0.003733, while a move above $0.005126 could see prices rallying to $0.006 levels.

The Relative Strength Index (RSI) is a technical indicator used to measure the momentum of an asset’s price movements. The RSI for Siacoin is currently at 31.7, indicating that the digital asset is oversold, and a reversal could be on the cards. A move above 50 could see prices rallying while a move below 30 could see prices falling to new lows.

Siacoin Price Prediction 2022-2031: Is SC a Good Investment? 11

The MACD indicator is a technical indicator used to measure the momentum of an asset’s price movements. The MACD for Siacoin is currently at -0.0016, indicating that the digital asset is in a bearish trend. A move above 0 could see prices rallying, while a move below -0.002 could see prices falling to new lows.

The digital asset could rebound soon as the market conditions are ripe for a bullish move. However, if the price fails to move above the upper Bollinger Band, it would confirm that bears are in control of the Siacoin price. In conclusion, Siacoin is in a clear bearish sentiment. However, the price could rebound soon as the indicators are currently at oversold levels.

Siacoin Price Predictions By Authority sites

Wallet Investor

According to their in-depth analysis, Wallet Investor states that Siacoin is a bad long-term investment.

The site gives a bearish Siacoin price forecast to attain an average price of $0.00322, a decline of around 24 percent for the year 2022. In the long-term price predictions, they believe the digital asset will likely lose value in the future and will likely not recover.

TechNewsLeader

Techenewsleader is bullish on their Siacoin price predictions and suggests the digital asset prices will rise to a maximum price of $0.009, which is a slight increase from the current price.

They suggest that the prices might stabilize at this level in the future and would not drop any further. They are positive on their short-term whereby they state in the next five years, the year 2027, the prices might attain an average trading price of $0.30. On the long-term projections, in 2030, the SC price could climb to $0.19.

Price Prediction net

According to Price Prediction net, SC coin seems to be a profitable investment option as the site is bullish on its Siacoin price predictions. They suggest that in 5 years’ time, the prices could attain an average price of $0.038, which is an increase from the current trading prices. They are confident that in 2030, the prices could reach a maximum high of $0.14, and by December 2031, the prices could reach $0.20.

Cryptopolitan

Siacoin Price Prediction 2022-2031: Is SC a Good Investment? 12
Siacoin Price Prediction 2022-2031: Is SC a Good Investment? 13

Siacoin Price Prediction 2022

Siacoin might reach an average price of $0.006 and a minimum of $0.00, according to our technical analysis and predictions. A maximum price level of $0.006 is also possible by the end of the year.

Based on the current market trend and price analysis, Siacoin has shed most of its value, as seen in the entire crypto space during the winter of crypto in early May. The prices are currently recovering from the lows, and it’s most likely that the prices could continue to rise in the near future. Siacoin might not reach its all-time high price levels in the near future. However, it is possible that the prices could rebound and attain new highs in the long term.

Siacoin Price Prediction 2023

2022 being a bullish year per our predictions, the digital asset might attain an average price of $0.008 and find support at $0.008 according to our Siacoin price analysis, which is the minimum forecasted price. In the long-term, if the current market trend continues, it’s most likely that the prices could reach a maximum price of $0.010 by 2023 as institutional investors are likely to enter the market during this period.

Siacoin Price Prediction 2024

The market trend seems to be bullish as the institutional investors are likely to enter the market, and this might help Siacoin prices to rebound and attain new highs. As per our predictions, the average price for 2024 is $0.013, and it’s most likely that the prices could drop to a minimum price of $0.012 while the prices could also spike and attain a maximum value of $0.014.

Siacoin Price Prediction 2025

In 2025, as per our predictions, the digital currency will likely attain a maximum price value of $0.021 and an average price of $0.018.The prices could also decline and attain a minimum value of $0.017 during this period.

Siacoin Price Prediction 2026

Siacoin price forecast for the year 2026 is bullish as the trend in the crypto market seems to be moving in a positive direction. The average price predictions suggest that the prices could reach $0.026. According to our SC coin price analysis, a maximum price of $0.030 is also possible by 2026. A minimum price of $0.025 is also possible by the end of 2026.

Siacoin Price Prediction 2027

In the year 2027, Siacoin is likely to reach a maximum price value of $0.044 and an average price of $0.038, according to our price analysis. A minimum value of $0.037 is also possible by 2027.

Siacoin Price Prediction 2028

SC price prediction for the year 2028 suggests a maximum of $0.064 might be attained. The average price is likely to be $0.056, and a minimum value of $0.054 is also possible by 2028.

Siacoin Price Prediction 2029

The long-term price analysis predicts that the prices could reach a maximum of $0.094 by 2030. As per our predictions, the average price for 2030 is $0.084, and the minimum price is $0.082.

Siacoin Price Prediction 2030

Siacoin’s predicted price for 2030 is $0.12. The price projections will increase Siacoin’s market capitalization in the whole crypto world. There is stiff competition in the space from other players like Bittorrent and Filecoin, thus the need for innovation. Siacoin bullish trend will see it reach a high price of $0.14 and a low price of $0.12.

Siacoin Price Prediction 2031

By 2031, cryptocurrencies will have become widely accepted, and the prices of SC will have gone up due to high demand. Siacoin is expected to reach an average price of $0.17 by then. There is a possibility that the SC price might reach a maximum price of $0.20 and the least expected is $0.16.

Siacoin Price Predictions by Industry Influencers

Mr. Legend Crypto goes through SC technical analysis on his Youtube channel.

The cryptocurrency market has been on a bear run in the last few days and months and this has seen the value of Siacoin drop drastically. Crypto enthusiasts, however, see this as an opportunity to separate the chaff from the grain.

Conclusion 

Siacoin is rewriting the laws of cloud storage by introducing new tokenomics and a distributed ledger. The space, however, has other players like Bittorrent and Filecoin, who bring competition. 

Siacoin digital assets will be bullish from 2023 to 2031, and the next bull run will be highly profitable. Siacoin is a profitable investment with utility.

Conclusion

In recent days and months, the cryptocurrency market has been in a bear market, which has resulted in Siacoin’s value plummeting. Crypto enthusiasts, however, see this as an opportunity to separate the chaff from the grain. In the long term, Siacoin appears to have a very bright future as it has a number of features that make it attractive to investors.

Blockchain technology is changing how we conduct businesses, and cloud storage is right in the middle of Web3. There has been a lot of competition in decentralized storage cloud systems, with each crypto offering a unique approach. Storing 1TB of data with Sia costs only $2 lower than most platforms

It is also important to note that Siacoin is not just a storage coin but can also be used to pay for other services on the network, such as file sharing and hosting. This makes it a very versatile coin with many potential uses.

Siacoin is a decentralized storage platform that utilizes blockchain technology to allow users to store data securely and privately. The Sia platform allows for the creation of smart contracts that facilitate the storage and sharing of data on the network.

Siacoin’s active development team always works on new updates and improvements. The team has also partnered with a number of large companies, which gives the project a lot of credibility.

Blockchain technology is changing how we conduct businesses, and cloud storage is right in the middle of Web3. There has been a lot of competition in decentralized storage cloud systems, with each crypto offering a unique approach. Storing 1TB of data with Sia costs only $2 lower than most platforms. 

Siacoin forecast will stagnate in the second half of 2022 and begin rising in 2023 towards 2030. Siacoin has a bright future.

About the author