Today, we will be looking into the historical price trends of SIA and several market predictions in order to project a Siacoin price prediction for February 2020.
Siacoin Overview
Siacoin is a decentralized cloud storage system that was first unveiled at HackMIT 2013 Hackathon. The storage solution platform was officially launched in June 2015.
Source: the cryptobase
SIA, the native crypto of the Siacoin public blockchain, is used for data storage and file encryption.
Siacoin (SC) currently trades at around $0.003430, with an increase of 6.45% in the last 24 hours. The crypto is ranked at 51st place according to a market cap of $143,414,279, with a circulating supply of 41,817,047,634 SC. In the last 24 hours, $16,238,947 worth of SC coins has been traded.
Siacoin Price Prediction: Analysis
In the latter part of January, SC fluctuated between $0.0014 and $0.0015, but towards the last days of the month, it surged to $0.0016 and $0.0017 levels. SIA started February at $0,001611, and after briefly testing the new resistance level of $0,0020, it closed the day at $0,001942.
Until February the 4th, Siacoin traded at around $0.0019 and $0.0020, and slowly climbed to test the $0.0021 resistance level. The coin continued its bullish momentum and continued to break resistance levels until, on February 13th, the coin had a valuation of $0.002703. The next day, Sia surged past the $0.003 resistance level, peaking at $0.003288. February 15th saw another surge to $0.0035, but the coin then corrected itself towards the end of the day to $0.0028. On February 16th and 17th, SC struggled to get back its gains closing close to $0.0030.
Source: coinmarketcap
On February 18th, charts have shown that Siacoin surged by up to 20 percent from its closing price of the day before yesterday, mimicking the movement of other top altcoins, such as Ethereum, BitcoinSV, and Bitcoin Cash.
A small price correction took occurred a few hours into the day, but the coin is still in the green at $0.003430.
The resistance, pivot, and support levels calculated by WalletInvestor are:
- Resistance Level (R3): 0.00357
- Resistance Level (R2): 0.00327
- Resistance Level (R1): 0.003090
- Pivot Point: 0.00278
- Support Level (S1): 0.00261
- Support Level (S2): 0.00230
- Support Level (S3): 0.00212
Developments
On February 12th, the official blog of the project announced that Siacoin integrated Carbon, so that users would be able to purchase Siacoin with credit or debit cards.
On February 18, 2020, the Siacoin team announced the launch of their Siaskynet. The community has responded positively to this announcement, expressing their interest in the project.
“Siaskynet Is Launching On Tuesday, February 18, 2020. Sia Blog Recently Wrote In Their Blog Titled “The War For Free Internet,” Stating How The Internet Has Captured Our Lives.”
“Sachy, one of the community members, tweeted that on Tuesday, February 18, 2020, there will be only one breaking news on the internet with an announcement, and that is Siaskynet.”
“The decentralized storage platform will be able to do 1 Gbps up/down. SiaSkynet and #siacoin are widely discussed as the #hashtag to be closely watched over the next days. “
Crypto expert Sydney posted on Twitter: “Some of the Siacoin (SC) fans seem to be tweeting GoodBye YouTube, and they state that SiaSkynet will put several projects to bed. Guess it is an exaggeration. Waiting, though.”
Siacoin Price Prediction: Market Opinion for February 2020
There have been a number of crypto forecasting websites that have issued their own Siacoin price prediction for February 2020, and we have decided to incorporate some of the most relevant ones to give you a better feel of the market sentiment.
Digitalcoinprice
Digitalcoinprice expects that the trading price of Siacoin to be $0.00608516 in February 2020, which would mean an increase of 101.47%.
Altcoinforecast
Altcoinforecast predicted that the coin will have on February 29th a price of $0.0024.
Gov.capital
Gov.capital projected that the Siacoin will have on the last day of the month an average trading price of $0.00393, with the minimum possible value around $0.00389, and the highest value around $0.00396.
Coinpredictor
Coinpredictor estimated that towards the end of February, Siacoin will be trading at $0.002055, with an increase of 1.3%.
Bitverzo
Bitverzo’s Siacoin price prediction for February 29th, 2020, was that Siacoin would have an average price of $0.00679, with a minimum of $-0.007218, and a maximum of $0.008836.
| Date | Average | Low | High |
|---|---|---|---|
| Wednesday, February 19, 2020 | 0.001214 | -0.006344 | 0.008629 |
| Thursday, February 20, 2020 | 0.001244 | -0.006421 | 0.009443 |
| Friday, February 21, 2020 | 0.001315 | -0.006710 | 0.009032 |
| Saturday, February 22, 2020 | 0.001472 | -0.005302 | 0.009118 |
| Sunday, February 23, 2020 | 0.001426 | -0.006390 | 0.008643 |
| Monday, February 24, 2020 | 0.001165 | -0.006447 | 0.008505 |
| Tuesday, February 25, 2020 | 0.000930 | -0.005855 | 0.008609 |
| Wednesday, February 26, 2020 | 0.000827 | -0.006272 | 0.008743 |
| Thursday, February 27, 2020 | 0.000719 | -0.006560 | 0.008668 |
| Friday, February 28, 2020 | 0.000654 | -0.006517 | 0.007617 |
| Saturday, February 29, 2020 | 0.000679 | -0.007218 | 0.008836 |
Walletinvestor
Walletinvestor made predictions for the next ten days of February, along with the estimated minimum and maximum prices for Siacoin.
| Date | Price | Min Price | Max Price |
|---|---|---|---|
| 2020-02-19 | 0.00311 | 0.00287 | 0.00334 |
| 2020-02-20 | 0.003092 | 0.00285 | 0.00333 |
| 2020-02-21 | 0.00318 | 0.00293 | 0.00340 |
| 2020-02-22 | 0.00329 | 0.003055 | 0.00353 |
| 2020-02-23 | 0.00324 | 0.0030066 | 0.00349 |
| 2020-02-24 | 0.00328 | 0.003056 | 0.00351 |
| 2020-02-25 | 0.00339 | 0.00317 | 0.00363 |
| 2020-02-26 | 0.00346 | 0.00322 | 0.00368 |
| 2020-02-27 | 0.00345 | 0.00322 | 0.00369 |
| 2020-02-28 | 0.00353 | 0.00329 | 0.00375 |
Cryptoground
Cryptoground forecasted that in one day, the price of Siacoin will be at around $0.0020, with a decrease of 32.61%, and the site also anticipated that Siacoin will have, in one week, a price of $0.0020, with a decrease of 34.17%.
Cryptorating
Cryptorating predicted that in one day, the price of Siacoin will be at around $0.003335, with an increase of 10.19%, and the site also projected that Siacoin will have in one week a price of $0.004219, with an increase of 39.4%.
Siacoin Price Prediction: Verdict
With this, we end our Siacoin price prediction for February 2020. We hope that the information we have provided will be of help to you in your future SC trading endeavors.
The post appeared first on Coindoo
