Siacoin Price Prediction 2030 by 4 Top Expert Platforms
Cryptocurrencies are most often viewed as digital financial assets for investment and speculation. However, blockchain technology allows much more than simple currencies that are used as money. With more than 20,000 coins available on the market, there’s an overabundance of cryptocurrency platforms, and many traders are confused about which assets to add to their portfolios.
Siacoin (SC) is a decentralized storage system that uses blockchain technology for storing and distributing files. In this article, we take a look at the fundamentals of SC and the benefits it brings to the space.
Additionally, we will analyze price history and explore some expert opinions from around the internet to provide you with a plausible Siacoin price prediction up to 2030. This should allow you to draw an informed opinion of whether Siacon is worth investing in.
What Is Siacoin?
Siacoin is a blockchain platform that uses distributed ledger technology to provide users with a decentralized solution for file storage. The goal of the project is to offer an alternative to centralized cloud storage solutions and reward users that participate on the platform.
Released in 2015, Siacoin is one of the first platforms that started to provide a blockchain-based file-sharing service. Its network is secured through a proof-of-work consensus algorithm, meaning that the SC cryptocurrency is mineable using ASICs.
The platform allows users to become hosts or renters. Hosts can offer their redundant storage space and offer it on the network for free usage. They earn rewards in Siacoins for the service they provide. Renters, on the other hand, can upload files to other users who have made their space available. Using storage space is subject to fees in SC, which are paid through the network.
The network uses a storage marketplace that allows users to find storage space at the best possible price, making it competitive versus centralized cloud platforms.
Siacoin’s Price Action
Siacoin is a fairly established network that has been around since early 2015. This means that it has undergone some significant price fluctuations since its release. The first major price movement for SC occurred in 2016 when the coin jumped from $0.000025 to $0.001, making nearly 100x returns for holders. However, the subsequent rally during the 2017-2018 bull run was even more substantial.
From January 2017 to January 2018, the SC price skyrocketed from $0.0003 to $0.095, registering an all-time high and an increase of more than 30,000%. When everyone was trading BTC to EOS, Siacoin investors were making the most profits during this rally. During the bear market that followed, the price fell as low as $0.001.
In the 2021 bull market, SC never managed to return to previous heights. That said, the price action was still consequential, as the price reached a peak of $0.05 in April 2021, registering 1,500% gains that year.
Currently, the bear market has pushed prices quite lower, and SC is trading around $0.004 at the moment of writing.
Expert Predictions up to 2030
Even though we are currently in a bear market, the fact remains that Siacoin conserves its utility and strong community of supporters. These fundamentals, paired with high volatility potential, allow analysts to remain bullish on SC.
Let’s have a look at some price predictions from reputable sources around the internet:
- Priceprediction.net provides a bullish picture for Siacoin in the long term. The website offers a maximum target of $0.02 for 2025, which is a 400% increase from the current price levels. Looking at the longer timeframe, for 2030, it gives a forecast of $0.14.
- Digitalcoinprice.com isn’t quite as enthusiastic regarding Siacoin, even though they predict a steady growth in value. For 2025, their target is around $0.009, whereas for 2030, the website expects the price to reach at least $0.02.
All in all, there’s a consensus amongst analysts that Siacoin will continue to grow in the future.
Should You Invest in Siacoin?
Siacoin is a unique project that provides its users with true utility and rewards them for participating in the network. As we slowly veer away from centralized cloud services, we can expect such projects to grow exponentially. The SC network will most certainly have a competitive advantage in the blockchain space as a firstcomer in the decentralized storage niche.