Tron TRX was just listed on Bitfinex minutes ago, so what does this mean for TRX? Hopefully this means we'll start seeing some more volume flow into Tron and they finally build back up from the $0.06 point, and break through that resistance they have been battling for the past week. Within minutes of being listed, we saw an immediate 6% increase in value. Of course that's going to met by a quick, temporary drop as people see a chance to sell out and make minimal profit or break even. A lot of the investors are tired of sitting on TRX and not seeing it do anything. Especially the new comers to the market who haven't learned that patience = profit.
I feel after the calm from everyone selling from the FUD, it will stabilize and continue to climb towards the $0.15 area. And if Justin Sun seizes the opportunity and gives us a promising tweet like he tends to do, it might even touch the $0.20 for a bit. At least one can hope. I, personally, am sitting on $4,000 worth of tron that I bought in when it dipped to the $0.04-$0.05 point at the recent big correction. So if I can get a 3x gain, I will be a very happy camper. But TRX is very volatile, so it's difficult to predict what it will do. All signs are pointing to it finally bring profit to everyone who buckled up and HODL'd while it was down.
So can expect TRX to take off to the moon? My personal opinion.... Not yet. I think for this blockchain to really see those huge gains, it will need a huge announcement. The sporadic partnership announcements and J-Sun Hype Tweets are great for small gains, but we need something major to really push TRX up the ranks. Come on Justin, give us that Alibaba partnership announcement! The beta announcement was great, but still wasn't enough of a push to get things moving. We need to get Tron out of this stall it's stuck in. We can only hope the Bitfinex listing can help with that. So for now, I'm going to continue hodl'ing my TRX with anticipation of something major coming to light. Patience, patience folks. Be patient and we will be rewarded... Hopefully lol
Bitfinex's 24 hour volume is roughly $1.5 billion at the time of this article, about half of Binance ($3 billion as of this article). It's 7-day is about $13 billion and 30 day is $58 billion. That's more than enough to do some change for TRX. But will it be good change? That will just depend on those who trade on Bitfinex. Will they see potential with Tron and invest into it? Not sure, I'm not a fortune teller. But I expect many will seize the opportunity to buy in while it's down with high hopes of a huge return later in the year. On Bitfinex, TRX is current trading at 0.00000633 BTC (Roughly $0.07), so it's about the same as Binance. It's currently averaging a Bitfinex volume of ~3.5million, but the data is incomplete since it's only been trading for about an hour as of this article. I'll be monitoring it over the next few days to see how that volume changes. And hopefully that will give us some insight on what to expect in the near future. If you're sitting on some TRX currently, it might be a good idea to keep holding it for a little longer. I expect we'll see some profit real soon. But it's your decision what to do with your investment, that's just what I would do.
** Disclaimer: I am not a financial adviser. I merely show you what I do, what I invest in and how I go about it. Please do your own research before investing into any altcoin