Is Siacoin dead? What is the future of Siacoin?

Since the end of last year, the price of Siacoin has soared. It reached a record high of US$0.097154 on January 7, 2018. After that, the price began to drop dramatically, showing no signs of recovery.

 

(source from:citicoins.com)

Until June 7, OKEx's official website announced that It will launch siacoin. Affected by this good news, the SC price rose by 5% within 25 minutes and the transaction volume increased by 56%. The 24-hour gain was 9.4%, and the market value had exceeded US$572 million. This has caused many investors to regain their confidence in siacoin, who believes that siacoin may have been counter-attacked since then, however, it fall again, the current sia price is about $0.01.

Most investors are frustrated by their shrinking investments, and they even wonder is siacoin dead. Why is it not moving? I’d like to say that in the cryptocurrency community, the ups and downs of crytocurrency prices are normal. Because even if a cryptocurrency with high investment value or even those mainstream currencies, such as bitcoin and ripple(xrp), none of them have never experienced ups and downs.

Whether a currency has investment value or not should analyze its technology, markets and other factors from a long-term perspective, rather than selling it immediately once you see its price plummeted. Or you may likely to fall into the trap of someone who is running the market maliciously.

 
I believe Siacoin's market value is more likely to rise than 90% digital currency. The reasons are:

1. SIA solves almost all the problems of current cloud storage

1.1 Backup security

1.2 Prevent review

1.3 Data encryption

1.4 Low cost

1.5 Easy to use

 
Siacoin uses a decentralized approach to meet the needs of both storage and idle space. It can be said that SIA is the "UBER" of the cloud storage industry. This is a good analogy. UBER has not had a car, but it has become the world's largest taxi company, precisely because it solves the problem of user demand and idle social resources. So you dare to say that the SIA, which also solves the problem of user storage requirements and idle space docking, will not become the world's largest cloud storage company without a hard disk?

 

2. Siacoin is the perfect combination of blockchain and application scenarios

We have been looking for truly reliable blockchain applications, which have specific application scenarios and can solve problems in the real world. At the same time, these blockchain applications have a relatively large market imagination and business value.

 
There is no doubt that Sia is such a blockchain application, as it is positioned to provide inexpensive and reliable cloud storage services, develop a shared economy, and increase resource utilization efficiency. With the continuous development of cloud computing and big data, Sia's application scenarios will become more and more extensive and exist as a basic service. That is to say , sia has an unlimited market.

All in all, I believe sia cryptocurrency is worth holding in a long term. It will outbreak one day when it’s technology is mature. And they are developing truly decentralized products. New releases every three months, which marks a big step forward in usability and functionality. Judging from this progress, the outbreak of sia will not be too long, and once sia breaks out, you cannot imagine how much is sia worth at that time.