In this guide, we will express our and the market’s opinion on Sia’s future as we discuss Sia’s price forecasts for 2021 and beyond.
Keep in mind that you should take this and any other forecast with a grain of salt since predicting anything is a thankless task, let alone predicting the future of a new highly volatile financial asset like Sia Coin.
Now, let’s get into it.
Before we delve into Iota’s price prediction and answer questions about whether Sia is a good investment or not, why SC will succeed or fail, or why the price of Sia will rise or fall, let’s quickly take a look at what Sia coin is and its history to date.
Table of Contents:
SiaCoin – Introduction
Sia is one of the players in the decentralized storage space. The cloud storage industry is huge, and companies like Sia are hoping to dent the dominance of other popular storage platforms like Dropbox, Amazon S3, and Google Drive.
We have listed SIA as one of the best cryptocurrencies to invest in 2022 and beyond.
But what sets Sia apart is that it is a decentralized, encrypted and peer to peer cloud storage platform. It’s encrypted, multiplied, cut into small pieces, and then all those little bits are sent around a bunch of different hosts. When you want to access the file (think it is in a state of type T-1000), the appropriate bits are recompiled and you get the file.
Sia dramatically reduced the overhead by building the framework and outsourcing storage to anyone with an internet connection and hard drive. That’s why it can charge a much lower fee. They multiply bits in case a node that contains a piece of your file is offline.
Unlike most new coins, the SIA team chose not to hold an ICO. Instead, Sia began life when her genesis block was mined. This is very unusual in the world of cryptocurrencies. However, so far this seems to be working for Sia. Thanks to prominent investors like Fenbushi Capital, Raptor Group, Procyon Ventures, along with angel investors like Xiaolai Li, SIA’s team managed to raise over $1.25 million in funding without an ICO.
The idea for Sia was conceived at the HackMIT 2013 Hackathon, and was officially launched in June 2015. It is now backed by Nebulous Inc, whose self-proclaimed mantra is: “Re-decentralize the Internet.”
How to evaluate the fundamentals of a cryptographic project
We should consider crypto valuations as educated gambling, a “prediction market” where we are betting on the chances of success of the project and tokens. There are some catalysts for success that we can identify:
- Project success drivers (user traction, solid financial bottom line, good treasury management, network effects/synergies between users and token investors)
Real user traction is the most important driver of success, which is what most owners call “adoption.” If people start using certain crypto projects because they find it useful and simplify their lives, this is a guarantee of success. So far, almost no crypto project can claim to have done so.
A strong financial chest that will allow the teams behind the project to develop their visions, incentivize other developers to join them, and start using their product is also a crucial aspect of any project. Linked to it is treasury management, especially for the project that has had large ICO revenues. The temptation to squander all those millions on “conferences and events” (read hard-core parties on yachts and luxury hotels) was enormous, especially when we consider that most of the founders of token projects were nameless and ordinary employees working for a paycheck before the ICO fable happened to them.
Another indicator of adoption: network effects, where each additional user of a good or service adds value to that product for others. When there is a network effect, the value of one product or service increases based on the number of others using it.
If you can objectively notice that your favorite token project has some of these characteristics, be happy: you may have found a winner.
- Token success drivers (favorable supply-demand dynamics, token-programmable incentives, incentives aligned with the management team, and consensus on the token as a common unit of value creation).
The success of tokens completely depends on tokenomics. As defined by infloat.co, tokenomics involves incentivizing certain stakeholders to ensure particular behavior.
So, tokenomics is essentially an incentive structure designed to ensure that a token has a purpose and utility within its native network. It is the study of how coins/tokens work within the larger ecosystem that can be considered as a sovereign microeconomy. This includes things like token distribution and how they can be used to incentivize positive behavior in the network.
For example, bitcoin is designed to ensure that bitcoin miners have a reason to mine new bitcoins. Miners validate bitcoin transactions and receive (or create) newly minted bitcoins in the process.
On the other
hand, individuals, companies, and other bitcoin users pay a transaction fee for miners to include their transaction in the next block. This ensures that even when all bitcoins have been minted (in the amount of 21 million, which is expected to happen around 2140), bitcoin miners are still incentivized to continue “mining” (i.e. validating transactions).
To paraphrase all of the above in the simplest terms: if, after weeks of research and reading, you can’t figure out why the project needs to have a token, it probably doesn’t.
So why does the token exist?
– Make the founders of the project rich.
But there are some people on Twitter, Reddit, Telegram who claim otherwise.
Yes, or
they are: paid to do so by those same founders, they are desperate and delusional bad holders or they are just stroking their egos with newly learned fanciful economic terms and jargon.
Needless to say, stay away from such projects.
SiaCoin Prediction
The entire cryptocurrency world is on the verge of a real bear market. Bitcoin has tumbled 50% from its all-time high amid broader market declines influenced by furious inflation and US Fed rate hikes.
Investors are selling risky assets and moving to more stable markets. Crypto is still perceived as a very risky game and therefore sell off.
Our algo still sees some green in 2022, especially in the second half of the year. This is reflected in our forecast for 2022.
Right now, Bitcoin needs to find a local bottom before we can move in the opposite direction and reverse the trend.
Once Bitcoin settles into the new price range, altcoins will start doing the same – we’ve seen this scenario dozens of times in distant and more recent history.
Our price forecast model is bearish for the next 90 days with a hint of a bull market straddling the Q1 to Q2 quarters. We expect whales and other larger players in the market to finish filling their bags around that time, which will cause a typical and sudden crypto spike.
The fundamentals we evaluate are teams, tokenomics, use case, community, marketing efforts, liquidity and availability of exchange, hype and speculative potential, and some other proprietary factors developed in our crypto lab.
Below is a tabular overview of how SC will develop in the short term (for the next 90 days), according to our forecast model:
Sia Coin price prediction 2022
Most projects will fail: some startups are created only to raise money and disappear, some would not handle the competition, but most are just ideas that look good on paper, but are actually useless for the market.
Vitalik Buterin, co-founder of Ethereum said:
“There are some good ideas, there are many very bad ideas, and
there are many very, very bad ideas, and also some scams”
As a result, more than 95% of successful ICOs and cryptocurrency projects will fail and their investors will lose money. The other 5% of the projects will become the new Apple, Google or Alibaba in the cryptographic sector. Will SC be among those 5%? Hard to say, but the probability for this is higher than most other coins mainly for 2 reasons: solid use case and legitimate team behind the project.
Most experts agree that this bear market will last at least for the first quarter of 2022 before seeing some stabilization and small trend reversals.
SC Price Prediction 2025
Our forecast model sees SC reaching $0.0127 in 2025.
Sia Coin Price Prediction 2030 – 2040
How much will Siacoin be worth in 2030?
Our forecast model sees Siacoin reaching $0.0319 in 2030.
How much will Siacoin be worth in 2040?
Our forecast model sees Siacoin reaching $0.0637 in 2040.
Will Siacoin replace/surpass/surpass Bitcoin?
No, Siacoin will not replace or exceed BTC.
Can Siacoin reach $0.10?
Yes, it is possible that Siacoin could reach $ 0.10 but only in the distant future, after 2030.
Can Siacoin reach $1?
No, our forecasting model does not see any chance for Siacoin to reach $1 in the short or medium term.
Is it worth buying Siacoin?
We are supporters of moderately risky investments: invest most of your cryptocurrency portfolio in BTC (50%); 35% in a basket of large-cap coins and the rest in small projects with huge increases. So, in this context, it is worth buying Siacoin.
Is Siacoin a good investment?
Siacoin is, just like all other cryptocurrencies, a risky investment. It is more likely to go up than down because of the good use case, well-designed tokenomics, active community, and a strong team behind it.
How much will Siacoin be worth?
For the short-term future, it could reach $0.0019. In the long term (8-10 years), it could jump to $0.0319 or even higher.
Why will Siacoin succeed and go up in price?
Siacoin has a good use case, well-designed tokenomics, active community and a solid team behind it. All of these are a prerequisite for success and that’s why our forecast model sees Siacoin rise to $0.0319 in 2030.
Why will Siacoin go bankrupt and go down in price?
Cryptographic projects fail for various reasons. Some of the most common are: the team goes rogue and abandons the project, regulators declare it illegal and press exchanges to delist it, lack of media attention, more successful competitors, lack of a well-designed marketing strategy, loss of community support, potential vulnerability in the protocol, failure to achieve the minimum development activity foreseen on the protocol, inability to attract new developers to build on their platform.
How high will Siacoin go?
Our prediction model sees the price of Siacoin explode and reach $0.0637 in the distant future.
What is the short-term forecast for Siacoin?
Siacoin will reach $0.0019 over the next 90 days, which is a 41.8% change from the current price which hovers around $0.0033.
Can Siacoin make you a millionaire?
Yes, if you buy a large enough sum. Don’t expect to invest $100 and become a Siacoin millionaire. But 100x price explosions are a common sight in cryptocurrencies, so a $10k investment in Siacoin could make you a millionaire.
Siacoin
Price Prediction Today – What will be the price of Siacoin tomorrow?
Siacoin will hover around $0.0035 tomorrow.
Conclusion
After reading this price forecast for SC, the logical question that appears in everyone’s mind is: should I invest in SC? Well, it is very difficult to answer without knowing the personal preferences and investment profile of each of you.
There are certainly enough reasons that make Sia a good investment, but projecting a certain and bright future for the Sia coin would be irresponsible on our part. Our general recommendation is to keep at least 50% of your crypto wallet in BTC, 35% of your cryptocurrencies in large-cap coins (ETH, ADA, XRP, XLM etc.) and 15% in small-cap coins with a large upside. That way you’re covered in most scenarios that encryption could play (except if it crumbles into annihilation, which is always a possibility, but I’d expect you’ve already come to terms with that option).
