Forecast for Siacoin Price: What Will 2023 Bring?
Sia is a promising project that offers a breakthrough technology. The founders of Siacoin are convinced that their product can revolutionize the way we use cloud storage.
Also, they have already announced that Sia will be much more user-friendly than the same services of Google, Apple, and Microsoft.
And if the use and popularity of the technology grow, so does the native token price. But what exact numbers should we expect? This is where reliable Siacoin price prediction services step in.
Let’s check their expectations together!
What is Siacoin?
Sia first appeared at an annual student hackathon in 2013 and was officially launched in June 2015.
Back then, the project’s founders claimed they wanted to offer a private, decentralized, and secure blockchain cloud storage platform.
What’s even better is that they managed to make it affordable. Its services cost much less than other popular storage platforms like Dropbox, Amazon S3, and Google Drive.
With Sia, users can share their free hard drive space with others or place their files in an encrypted vault. All contracts, evidence of content storage, and transactions are verified by the public blockchain.
All services on the network are paid in Siacoin cryptocurrency, and smart contracts and proof of storage ensure the reliability of transactions.
The basis of the Sia service is the creation of a contract for storing the downloaded file. Among other things, the contract includes payment, as well as a penalty for non-compliance with the terms of the contract, which will be written off in Siacoin cryptocurrency if the file is deleted.
At the end of the required period, the host must prove the existence of the data and, if successful, receive a reward.
Siacoin Price History
Since its launch, SC hasn’t attracted much attention. In 2015-2017, it was trading in the range of $0.00002-$0.0009, which is now considered the bottom for this coin.
After that, a 2017-2018 bullrun striked. Back then, Siacoin managed to display a 9,725x, reaching $0.1117 on January 06, 2018. Unfortunately, this is by far the highest mark the coin could hit, as it started falling in value rapidly.
In 2020, SC bounced back from the bottom of $0.001 and reached $0.004 in 2021. In 2022, the coin was trading near its 2018 lows of $0.003.
Siacoin Price Prediction 2023
Although at the moment, the Siacoin cryptocurrency cannot boast a high price, the project may show itself in the future.
But you also need to take into account the pressure from blockchain competitors, for example, the Storj cryptocurrency, which is currently better known than Siacoin.
The Siacoin team works tirelessly, as evidenced by the monthly reports published on the official website.
Therefore it is quite unlikely that we can see sharp growth in 2023. The situation is even getting worse due to ever-increasing supply together with inflation.
Yet Cryptopolitan.com predicts that the token of the Sia blockchain can show insignificant growth:
● maximum trading price — $0.007;
● average trading price — around $0.006;
● bottom — $0.005.
The experts of this platform admit that the problem of data centres and security can be solved by blockchain technology. However, the load of attracting customers and building a reputation lies entirely on the development team.
Also, when people realize that it is possible to make money with Siacoin even if they have an old personal computer with an Internet connection, the popularity of the platform will definitely go up.
Will SC Price Go Over Its ATH in 2023?
It won’t be a surprise for anyone if, in a year, the coin wouldn’t grow by hundreds of percent and would just approach the market position of late 2020.
However, taking the innovative character of the project, Sia can conquer the world in a few years.