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You are here: Home / Archives for Bull Market

Bull Market

Could Bitcoin’s 50% Hike Indicate Market Bull Run Ahead?

February 18, 2023 by Aishwarya shashikumar

The dramatic rise of Bitcoin to levels above $25,000 is a topic of intense industry discussion. In November 2022, the king coin fell to a low of $15,599. The community became terrified as a result since they thought BTC was on its way out. However, the asset had recovered after rising by 50% in 2023 alone.

₿𝗥𝗘𝗔𝗞𝗜𝗡𝗚
Price of #bitcoin up +50% this year. pic.twitter.com/8srpnU2CKD

— Documenting ₿itcoin 📄 (@DocumentingBTC) February 16, 2023

Following this increase, the community was euphoric, and Bitcoin quickly became the buzz of the cryptocurrency world. Gemini CEO Cameron Winklevoss emphasized how the asset has risen significantly from its pre-FTX crisis pricing levels. He tweeted,

“Bitcoin just broke 25k, price levels well above pre-FTX collapse. A clear signal that our industry is moving beyond this painful chapter — we will not be defined by it. We are back to building the future.”

But at the time of writing, Bitcoin was experiencing a correction, which further caused the value to fall by 3.49%. After a brief time in the $24K-$25K range, the king coin was trading for $23,787.63. But many people observed that the bull market had begun.

The mother of all $btc bullish signals has flashed – DCA indicator

Historically, it has flashed only thrice in btc's existence & each occurence led to massive rallies of
7400% (2015)
160% (2019)
640% (2020)

Today marks the 4th time this signal is suggesting a raging bullmarket pic.twitter.com/suMVlWFrzc

— Mohit Sorout 📈 (@singhsoro) February 16, 2023

Bitcoin’s Bull Run glory

The world as a whole is changing. Emerging technology like artificial intelligence is generating a lot of hype. In fact, advocates contend that AI has the potential to eliminate some occupations. The cryptocurrency sector has, nevertheless, been adjusting to these innovations. Many of them did lose their employment during the 2022 bear market, but the upcoming BTC bull market may make up for this. According to Alex Gladstein, CSO of HRF,

“The next Bitcoin bull market will bring an enormous amount of new talent and ideas into the ecosystem

-Developers
-Designers
-Analysts
-Entrepreneurs
-Artists
-Activists
-Engineers
-Investors

Don’t underestimate what they will bring to the table. They will change the world”

The ongoing legal dispute between Ripple and the Securities and Exchange Commission (SEC) poses a serious threat to the bull market. The town is on edge as a result of the lawsuit’s verdict. The status of numerous other assets is at risk if XRP is determined to be a security. However, the same is anticipated to untether Bitcoin. Gladstein also brought up the prospect of the SEC classifying Bitcoin in the similar manner.

Forget ETH, it’s quite possible that the USG tries to argue that BTC is a security.

Of course, no one issues BTC — it is no one’s liability and thus is unique among all digital assets and currencies — but authorities may have a hard time grasping that.

Buckle up…

— Alex Gladstein 🌋 ⚡ (@gladstein) February 17, 2023

Filed Under: News, Bitcoin News, World Tagged With: Bitcoin (BTC), Bull Market, Cryptocurrency

Dogecoin’s Bull Run Shows 115% Price Hike Last Week: October’s Top Performer

November 1, 2022 by Aishwarya shashikumar

In the last few days, Dogecoin’s (DOGE) price has dramatically increased. CoinMarketCap (CMC) data show that the price of DOGE has risen by almost 115% over the last week. Moreover, according to CMC data, the well-known memecoin is currently trading at $0.129, up 7% in the previous 24 hours. The preferred cryptocurrency of billionaire CEO Elon Musk surpassed the market leaders, including Bitcoin (BTC) and Ethereum (ETH), which have increased by 6.5% and 19%, respectively, over the last week.

By flipping two of the alleged “Ethereum killers,” Solana (SOL) and Cardano (ADA), during this bullish run, DOGE rose to the eighth-largest digital currency by market cap. As of this writing, Dogecoin’s market cap is approximately $17 billion, based on data from CMC.

Furthermore, DOGE outperformed all 150 digital assets in the CoinDesk Market Index in October (CMI). In contrast to the CMI as a whole, which increased by 7% during the month, the price of DOGE increased by 101%. The largest cryptocurrency by market value, bitcoin (BTC), rose 5.5% on the month, while ether (ETH), which came in second, increased by 18%.

Source

Dogecoin: Who Let The Doge Out? Musk Apparently!

Digital asset analysts ascribed the significant increase in DOGE to Musk’s shocking $44 billion acquisition of Twitter, ostensibly because they believed the transaction might one day add value or utility to the Dogecoin blockchain and its corresponding cryptocurrency. Musk said, “Call me the Dogefather,” in a May 2021 performance on NBC’s “Saturday Night Live.” And in January 2021, Musk posted a picture of himself on Twitter cradling a Shiba Inu puppy, the type of dog that served as the inspiration for dogecoin. Musk once proposed charging 0.1 DOGE for every tweet, possibly in jest, possibly not.

Some of the most prominent Dogecoin supporters and investors think that the well-known memecoin may soon be utilised for payments on the microblogging platform as a result of Musk’s purchase of Twitter.

#Dogecoin has a secret weapon that is about to be unleashed!

— Matt Wallace (@MattWallace888) November 1, 2022

All #dogecoin needs now is an @elonmusk tweet to keep this momentum going lol 😅🚀

— SlumDOGE Millionaire (@ProTheDoge) October 30, 2022

While Matt Wallace and Glauber Contessoto, two billionaire Dogecoin users, are ardent supporters of Elon Musk and the canine-themed coin, Algorand’s chief technical officer John Woods disagrees.

Woods took to Twitter to state that it “would be a shame” if Dogecoin were to be utilized on Twitter while “projects like Cardano and Algorand” exist.

Filed Under: News, Altcoin News, World Tagged With: altcoin, Bull Market, Dogecoin (DOGE)

Bitcoin’s Surge Reminiscent Of Previous Bull-Run

November 10, 2020 by Chayanika Deka

Bitcoin breaking the down-trending price action as it climbed to $15,400 has been no less than an impressive streak. Despite the fact that Bitcoin has still some way off its peak of around $20,000, its mammoth rally cannot be undermined. And as it aimed to breach $16,000, it is important to underscore the striking resemblance of its current metrics to that of its previous bull run.

The blockchain intelligence platform, Glassnode also noted that the current short-term holder activity is reminiscent of previous bullish trends. According to it, Bitcoin Short-Term Holder MVRV has been holding a positive ratio for the past six months. Additionally, it bounced off the neutral line yet another time. Gauging historically, holding this support level essentially evidenced the ongoing bull market.

This further indicated that if BTC happens to recover strongly from the latest downside correction, the chances of an extended rally could rise.

Against a backdrop of macro uncertainty, Bitcoin’s recent rally has managed to steal the limelight from various other aspects of the cryptocurrency industry. Bullish signs for the world’s largest cryptocurrency continued to pile up as it rallied from a little below $11,000 to its press time price. To top that, multiple on-chain metrics also match the positive sentiment around Bitcoin.

New Money Enters Bitcoin Market

One of the main drivers for the latest surge was the high net-worth individual players. Here’s how.

According to the latest Glassnode chart for Bitcoin’s Mean Transfer Volume, a considerable surge can be noted indicating that more and more participants were entering the BTC market. It is important to note that this does not imply total value transferred on-chain, rather this metric highlighted the investors belonging to the high network individuals cohort.

In tandem with the recent market surges, the attached chart depicted the rising activity of these investors.

Bitcoin Whales Emerge Again

The latest Bitcoin Volatility Report by Kraken also noted that historically, November is the best yielding month when looking at median performance and the best performing month, on average.

While the latest pullback from $15,800 to the current price level was driven by a brief sell-off phase, the accumulation trend still remained strong. Echoing a similar sentiment, the latest Kraken report also mentioned that the BTC whales were on an accumulation trend which could potentially drive further appreciation in its valuation.

Filed Under: Bitcoin News, News Tagged With: Bull Market

Bitcoin price forecast August 7, 2019: BTC surges past $11900 again

August 7, 2019 by Muhammad Ali Hassan

Bitcoin began the day (7th August) on the bullish side where it opened above 11,700 USD price mark, but after a couple of hours, the bears started to haunt BTC, where it dropped below 11,300 USD.

A couple of days ago, Bitcoin had a good time around as it surged beyond 12,000 USD after a month, touching the highest price mark of $12,266. However, it couldn’t support the price mark at around $12K zone and started to drop.

Bitcoin Market Trend

Examining the market trend from the last month, it seems like things have started to gear up, as the market is setting up for something big to come in the coming weeks. The overall behavior of Bitcoin price shows that the market is once again picking up the momentum, and it could once again rally to the USD 12,000 price mark.

As we go through the current market shift, Bitcoin trades at $11,972. The market opened up on a high though it dropped significantly during the day, where it reached the lowest of the day at $11,293.

But since then Bitcoin price again has started to pick up the bullish momentum, as it has crossed the $11,00 mark. Thanks to the very fact, the crypto king is trading in the green zone after going up by 4.39% over the last 24 hours. BTC keeps moving upwards as we write this, is possibly aiming towards $12K, which indicates that the bulls could arrive soon for real.

Technical Indicators (Key Support levels)

The key stats to note for the investors are the three resistance levels, which are at $11,600, $11,645, and $11,700. Whereas, the support levels stay on the bearish side at $11,350, $11,200, and $11,100.

Bitcoin price
Source: CoinMarketCap.com

Scrutinizing the one-day Fibonacci retracement level for resistance level at $11,600 resides at 38.2%, while $11,645 has the one-month Fibonacci retracement level of 61.8%. And at last the resistance level at $11,700 had a one-week pivot point resistance 2.

The support levels technical indicators show that the $11,350 price mark observes a conflux of the SMA 5 curve, 4-hour Bollinger band curve, SMA 10 curve, and 1-day Fibonacci retracement level at 61.8%. Whereas, the $11,200 support level sees a 1-hour previous low and 1-day pivot point support 1. Eventually, $11,100 would maintain the 1-week pivot point resistance 1.

Conclusion

The market once again has shown inconsistency as it remains to be volatile. Though the upsurge is predicted to continue during this week; however, the support levels don’t seem to indicate any escalation above $12K. But the market is still unpredictable and who knows by the end of the day, Bitcoin price stands at $12,000 level.

The market experts predict the price of Bitcoin to mount up above $15K by the end of this year. This anticipation shows that the long-term investment in Bitcoin would be beneficial for the investors.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Never miss our daily cryptocurrency news, price analysis, tips, and stories. Join us on Telegram | Twitter or subscribe to our weekly Newsletter.

Filed Under: Market Analysis Tagged With: Bitcoin (BTC), Bull Market, Price Analysis

What to follow in Bitcoin bull market? Anthony Pompliano shares best suggestions

August 5, 2019 by Tabassum Naiz

With the new week, Crypto market is also showing new figures adding impressive sentiments around. With Bitcoin price hovering over $11700 after surging by 9.22 percent within the past 24 hours, other cryptocurrencies are also trading with quite impressive values today.

Is it a New Bull Run?

At the time of reporting, Bitcoin trades at $11,764.84 against US Dollar with 9.97 percent for the past 24 hours. Nevertheless, it’s market cap has already touched $210 billion marks on August 5, 2019.

It’s worth to note that the BTC dominance counts at 67.7 percent with Ethereum (ETH) lifting its value by 6.38 percent. Subsequently, XRP is up by 2.83 percent, Litecoin (LTC) 9.22 percent, and Bitcoin Cash (BCH) stands in the green by 5.33 percent today.

While the market is moving upwards, prominent crypto figure Anthony Pompliano shares a quick checklist of best practices to apply. He believes, it’s the next bitcoin bull market and hints following tips;

  • BTC is ‘very’ volatile
  • You can lose all the money
  • Only invest what you can afford to lose
  • Twitter should not be considered as investment advice
  • Don’t buy BTC or any other cryptocurrency with credit cards
  • Keep low (as much as you can) time preference
  • Do your very own research

Checklist to Follow in Bitcoin Bull Market

Pomp’s quick checklist is likely the best help or advice for newbies in the crypto market. As bitcoin is the world’s most tremendous crypto asset, it is becoming the major attraction for traders, enthusiasts, and investors across the globe. Newbies and those who’re dealing with bitcoin must understand that BTC is very volatile.

Its price may fluctuate any time; sometimes reasons can quickly be determined whereas it may not be rapidly analyzed in other cases. However, for those who’re dealing with Bitcoin and decide to buy/sell based on the current price must know that the price may vary/fluctuate anytime. If they see the price is falling short and act quickly, they may lose their money.

Important message as we enter the next Bitcoin bull market:

– BTC is very volatile
– You can lose all of your money
– Only invest what is ok to lose
– Twitter is not investment advice
– Don't buy BTC with credit cards
– Keep low time preference
– Do your own research

🙏🏽🙏🏽

— Pomp 🌪 (@APompliano) August 5, 2019

Many analyst/traders and enthusiasts talk about BTC, its next possible move in terms of price but that shouldn’t have to consider as the trading advice. However, you can check out the market sentiment with the statements by analysts/ other crypto community members, but it is not the definite advice one should act upon over their money in the crypto industry.

Also, you’re likely to come across with several news announcements or rumors claiming the big future of particular cryptocurrency thus to encourage you to invest/trade. Always “DO YOUR OWN RESEARCH” to ensure you’re making a sound decision and not relying on any rumor.

As the price of bitcoin and other cryptocurrencies fluctuate quite often, one should start trading/investment with the small amount because if the price starts declining, he/she may lose the money invested.

But of course, yes, if the market started soaring, the same amount might turn into a profitable and potential approach – and it all depends on the price of crypto-asset at a particular period.

Moreover, pomp suggests not to buy crypto with credit cards – this is quite true because buying crypto with credit card is quite trickier. Besides, it is a more expensive option than buying BTC from local bank transfers.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Never miss our daily cryptocurrency news, price analysis, tips, and stories. Join us on Telegram | Twitter or subscribe to our weekly Newsletter.

Filed Under: Bitcoin News, Education Tagged With: Bitcoin (BTC), Bull Market

Bitcoin busts through $10k psychological barrier on the back of Libra whitepaper

June 23, 2019 by Ali Raza

Bitcoin trading has seen another bullish run, leading the king of crypto to fresh new highs and allowing the primary face of the cryptocurrency movement to break through the 10 000 US Dollar barrier. It has been almost 15 months since this last happened, a fateful 15 months that many thoughts were the end of cryptocurrency as we know it.

2018 an important year for crypto despite negative trading sentiment

When Bitcoin crashed from an all-time high of around 19 thousand dollars to just 6 thousand dollars, people thought the market was completely finished. There was a small rally by the bulls that pushed the price up to 10 thousand in March of 2018, but the price quickly fell until it hit a low of close to 3200 in December of last year.

The new year has been kind to cryptocurrency in general, with many of the leading coins appreciating massively in value. This was in no small part due to the bullish sentiment surrounding Bitcoin and cryptocurrency as a whole – and those foundations were laid while the overall health of the industry did not look too rosy (at least to outsiders).

What 2018 did for cryptocurrency was to allow it to continue developing without being in the news for its price alone. It allowed people to learn more about cryptocurrencies, and we are now at a point where major corporations and financial institutions are looking to offer either Bitcoin or some form of cryptocurrency in their very own portfolios.

The entrance of large institutional investors has helped keep the rise in Bitcoin steady and marching forward. However, this latest push to break the 10 thousand barrier has been attributed to another reason entirely.

Libra the catalyst for Bitcoin’s breakthrough

While many in the industry think that Bitcoin would have broken through the ten thousand dollar barrier sooner rather than later, this particular push to 10k has come on the heels of Facebook’s Libra announcement.  The giant social network released the whitepaper for its very own cryptocurrency and saw mixed reactions. However diverse, almost every single news outlet had something to say about Facebook’s venture.

This has increased the reach of cryptocurrency in mainstream news outlets and has probably drawn more people into the ecosystem than ever before. Chris Keshian, a former hedge fund manager and crypto enthusiast, says that,

“Facebook’s Libra has legitimized crypto for many investors, causing increased focus on the asset class of late.”

It seems that people are loading up on crypto – all cryptocurrencies, not just Bitcoin – in anticipation of Libra genuinely opening up the market to more mainstream audiences. Facebook has such power that it could quite literally move everyone from “knowing about that digital Bitcoin money thing” to becoming intimately knowledgable of cryptocurrency within just a few years.

One just has to look at how older people are using Facebook with ease when they could barely open e-mail earlier. Older adults are casually using their mobile phones when before they had problems with setting up their TVs, a problem some still have.

All in all… Libra has been good to Bitcoin – and this price surge might only be the very beginning.

At the press time, BTC is still in the green by 0.16% in the last 24 hours and trades at $10751.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Never miss our daily cryptocurrency news, price analysis, tips, and stories. Join us on Telegram | Twitter or subscribe to our weekly Newsletter.

Filed Under: Bitcoin News Tagged With: Bitcoin (BTC), Bull Market, Facebook, Libra

Ripple (XRP) is at the crossroads

June 21, 2019 by Ali Qamar

Ripple’s XRP is the world’s third largest currency by market capitalization, so it’s only behind Ethereum and Bitcoin. It’s the cryptocurrency that turned out to be the market’s best performer during 2017 and also during 2018. This means that the project’s fundamentals are so substantial that XRP is a coin for all seasons. It performs well when market conditions are excellent for every token, and it also performs well when the same conditions are terribly hostile for all players.

During the current year, we’ve seen the cryptocurrency market turning green since April after 18 lousy months. Given the coin’s history, we would expect XRP to perform better than the rest of the market. But it hasn’t. As a matter of fact, it’s been underwhelming, to say the least. But that could change in the next few weeks.

Some market observers think that XRP holders are in for a nice bullish run and high returns on investment because the technical indicators look very bullish and they could help their favorite international payments token very successful soon.

XRP trades at USD 0.444123 as we write this and the first resistance level (monthly) looks very far away at USD 0,051330. So R1 is hard to surpass, but it also provides a lot of room for growth.

Just today we saw the market reacting favorably to XRP after Ripple, the company, announced that MoneyGram will be adopting the technology and the coin to settle international payments.

Ripple and MoneyGram are not just strategic partners now. Ripple bought 10% of MoneyGram’s stocks. The market followed by rising in price for an impressive 150%.

It was all hype, of course, and it wasn’t even within crypto. So it went away, and we’re expecting XRP to go a bit down, which would be normal behavior after a boost. But a new surge is just around the corner.

A breakout is coming. It will take the form of a golden cross (a chart pattern that investors like). Once XRP shows the trend, nothing will stop it, at least for a while. It could reach the USD 3,30 historical high it had in the past, thus testing every data we’ve ever had about XRP.

So what else could a affect a surge on XRP? Bitcoin, of course. When Bitcoin does well, everybody does well too. So it Bitcoin finds a way to surge soon, XRP will most likely follow.

It’s an excellent time to keep an eye on Ripple. It’s been underperforming so far, but there’s every chance that it will turn out to be one of the market’s best performers. It may not happen very quickly, but we’ll see it arrive.

Also, let’s not forget that Ripple is a very stable company with a blockchain project whose fundamentals are also very robust. It’s a project that announces at least a new strategic partnership every week.

So the MoneyGram thing is good because it’s such a giant within the industry, but it’s common for Ripple to announce new partners. Some of them are not as important as MoneyGram, but all of them are important in the industry, and every announcement could trigger the next bullish run.

Ripple’s XRP is on the cusp of something, and it’s about to explode. It’s up to you to be part of it or just letting it pass by.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Never miss our daily cryptocurrency news, price analysis, tips, and stories. Join us on Telegram | Twitter or subscribe to our weekly Newsletter.

Filed Under: Altcoin News, Opinion Tagged With: Bull Market, Crypto Predictions 2019, Ripple (XRP)

Litecoin keeps flourishing as halving gets closer and closer

June 12, 2019 by Ali Raza

The first of January this year, 2019, saw Litecoin sitting at $30 after a prolonged bearish period in the cryptocurrency markets known as the Crypto Winter. Then the bulls got a hold of the crypto market and ran with it – leading to a massive increase in the total market cap and a fresh wave of enthusiasm.

One of the leading lights of this new surge was Litecoin (LTC), which jumped in value by over 500% and is now sits at around $140.

The reason for Litecoin’s massive bull run has been, in part, due to the halving that is coming up in just under 60 days. The positive traders, the major bulls, expect this trend to continue – well past the halving and are awaiting the fourth largest cryptocurrency in the world to continue to show strength based on a variety of factors.

Fresh highs for $LTC. pic.twitter.com/MiGh969Zci

— Mati Greenspan (tweets are not trading advice) (@MatiGreenspan) June 10, 2019

However, there are always contrarians, and in this case, they are saying that Litecoin has had its days – the halving has done its work and the potential future profits would be flat at best, and would halve along with the network at worst. These contrarians are the bears, your extremely risk-averse traders that see plummeting prices behind every corner and the charts may back their views.

Halving, the main driver of Litecoin bull run

Whatever the opinions come int the future, for now, all traders agree that the price increase of LTC is being driven mainly by the halving of block rewards that are happening in a couple of months. A halving is a significant event in any cryptocurrency and is a system whereby the reward for mining is halved. Miners are the ones who validate all transactions on a network and are thus crucial to the well being of a cryptocurrency.

What a halving does is limit supply so that current demand is constricted and the price of the asset goes up. This provides further incentive for miners to continue with their work and gives investors in the cryptocurrency a nice profit from their earlier investments.

What does this mean for LTC?

The difference in opinions, throughout the market, is whether the halving will have a positive or a negative effect on prices at this time. While many are looking at the market as a whole and seeing continued growth in all areas of the cryptocurrency market, others are more pessimistic.

The pessimists see Litecoin plummeting to around $55 after the initial euphoria of the halving passes, and believe that the pre-halving rally has frontloaded the price meaning that this is about as high as it will go for the time being barring unforeseen circumstances. This probably is a possibility that can’t be ignored.

The optimists see the halving as the start of a surge to a thousand dollar value of Litecoin, and a return to previous highs shortly. There is a middle path, and many are not giving this view enough attention. It could well be that the market has subconsciously priced in the halving already, but that the increasing appetite for crypto assets will provide the continued push that is needed for Litecoin to slowly but surely increase in price.

At the press time, LTC price stands at $137.79 after going up by over 35% in the last seven days. Both hourly and daily price charts of the coin are green, too.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Never miss our daily cryptocurrency news, price analysis, tips, and stories. Join us on Telegram | Twitter or subscribe to our weekly Newsletter.

Filed Under: News Tagged With: Bull Market, Crypto Halving, Crypto Rally, Litecoin (LTC)

A glance at the cryptocurrency market: November 2017 and now

June 9, 2019 by Naveed Iqbal

The cryptocurrency market as a whole is worth somewhere around $275 billion. So today, in June 2019, it’s more or less on the same level as November 2017, as it was ending. So the market has been going from one point to basically the same location, but the road has been very long and hard. The greatest boom happened exactly as November 2017 ended and, then, during 2018, we saw the market lose about 85% of its total value in a protracted bearish run that affected every blockchain project in the planet.

Dot com and crypto

The vast volatility we see in the cryptocurrency market is typical of emerging industries and economic activities. The internet economy behaved similarly. The stocks rose by 50 times between 1997 and 2000 only to crash down at the tune of 95%, reaching their historic low in September 2002.

As the year’s end saw the industry recover some of its value, too many investors were left too afraid of facing further losses and didn’t want to join back in the action. In the end, thigs stabilized, many companies disappeared, but those who picked the right assets – Amazon, for instance, or Google – were able to negotiate all the previous red numbers and even make a handsome profit.

So while there are definite similarities, there are also some critical differences between the dot com boom and the cryptocurrency market. In the dot com fiasco, failing companies went bankrupt, liquidated, and disappeared. The cryptosphere is not like that. There is not such a clear line that tells you (and the market) when a project has failed already.

So, in the crypto verse pets dot com is still around. Maybe nobody is maintaining the blockchain’s network or code. Perhaps it only keeps a handful of active users (there are romantic optimists everywhere). And that small number of idealistic users can keep “alive” in the market a cryptocurrency that’s dead by any other meaningful standard. But we still have no mechanism that can let us know what those projects are. Even worse is the fact that all projects start like that too. Bitcoin too was like that in the beginning.

So achieving some stability in the crypto verse would take several ingredients. One of them would be to separate the wheat from the chaff. This allows cryptonauts to find coins that hold great potential and that are still very cheap because their market behavior doesn’t follow BTC as closely as many other currencies.

That matters because a blockchain project can only stay on the top of its game if it can attract enthusiastic developers that bring their talents to the network. That needs uninterrupted momentum. And that momentum and the evidence of strong fundamentals in the developing community attracts more talent, investor capital, and enthusiasm from traders. It’s all about creating a virtuous circle.

Are there any answers?

So how do we find the chaff? We would suggest starting by looking at the coins that made up the top 20% of the market capitalization by November 2017. At that time, everybody was doing well. But some of them negotiated the 2018 crypto winter successfully. Dash, Cardano, Tron, Litecoin, Ethereum, EOS would be examples of this.

They’re dependable in terms of fundamentals, but they’ve failed to capture the investors’ imagination. The market is at the same level of November 2017 right now, but these coins (reliable though they are) are still not at that level. They still have something like 25% to recover if they’re going to reach that goal. So this category is made up of substantial projects that are not in most people’s wish list.

Another bunch of currencies to notice is the group comprised of those that have lost capitalization in Bitcoin terms even in the current 2019 rally. There are about 540 coins in this situation, and some big names are included. NEO, IOTA, Stellar Lumens’ XLM, Ripple’s XRP, and Monero are among the best-known examples.

XLM and XRP’s primary use case is settling international transactions; Monero’s XRP is a currency that seeks to bring privacy and anonymity to the center of the crypto verse; IOTA wants to bring cryptocurrency into the Internet of Things world; NEO is a smart contract platform. So as you can see from this shortened list, we’re talking about solid projects with specific use cases.

So what to make of them? They’re bargains because if they gather momentum, they will become unstoppable. But they’re risky too. Monero, for instance, is unlikely to be tolerated by many of the world’s governments. XLM and XRP are competing with private blockchain projects that are trying to disrupt the same markets but that are developed by banks and work closely together with regulators. It’s not that they’re not good. On the contrary, they’re maybe too good for the mainstream to adopt.

Then we have Bitcoin Cash, Bitcoin Gold, HyperCash, Gold Bits Coin, Metaverse ETP. They were 13% of the market’s worth in November 2017, and they’re not even close to recovering their value (in BTC terms) in the current market. They’ve been down by about 77%, and they don’t show any signs of any meaningful recovery. We would conjecture that mainstream investors, as far as any cryptonaut belongs to a mainstream, gave up on these coins a long time ago.

The next group, which some would consider the real chaff, is comprised of 111 currencies that were at USD 25 billion collectively at their peak but that they’re now under USD 1 billion. There are no recognizable names in this group.

So, we’re left with five cryptocurrencies that accounted for 53% of market cap on that infamous November 2017. They really went up when everything boomed during the next month. They suffered during 2018, but they still kept good value and, now, they’re back with a vengeance.

Are these good investments? Probably not, they could be too high in price all ready to take away profits soon, but they have shown they perform under any set of circumstances. These are the cryptocurrencies for all seasons. So who are they? Bitcoin, EOS, Binance Coin, Basic Attention Coin, and Freicoin. The last two projects may seem out of place as they lack fame but look at their numbers.

Investing in cryptocurrencies can be very profitable and very exciting. But there’s a reason for that. Investments that are so exciting and have such high returns always involve very high risks. Besides, there is still no regulation, and the whole crypto verse could disappear tomorrow (yes, it’s unlikely) if a couple of switches go off in China, where most mining in the world is made.

That being said, it can also happen that cryptocurrencies do find their way into the mainstream economy and become an essential agent with all the same uses that fiat money still has. The cryptocurrency market is at a crossroads, and we won’t know what happened until it’s already too late.

So what to do? First and foremost, you must do your own research. Find out each project’s strengths and trading histories, there are plenty of tools for that. Then make an investment plan and follow it through, don’t let your guts get the best of your head even (especially) when things are looking exceedingly sweet.

Also, diversification matters. Yes, Bitcoin is king. It will remain king. But you make a profit by buying low and selling high, and while that is still possible with BTC (and it will be possible many times again), if you’re going to hit the BTC jackpot, you’ll need to get your timing just right. And that is incredibly difficult.

Last but not least, have your fun as a crypto investor. But always remember that you should only get in with money you can afford to lose.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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Filed Under: News Tagged With: Bear Market, Bull Market, Crypto Market, Cryptocurrencies

Ripple (XRP) is collecting momentum to erupt big time

May 16, 2019 by Ali Qamar

Ripple’s been silent

Ripple’s XRP holds the third spot by market capitalization in the crypto verse. It’s arguably the cryptocurrency that gets the most attention in the world (except for Bitcoin, of course). Ripple, as a company, pursues a primary use case for its cryptocurrency, which gives it exposure and interaction with the world’s traditional financial institutions such as banks and remittance services. This is a competitive advantage almost unique to XRP, as only Stellar Lumens’ XLM can claim something similar.

XRP has some very passionate fans, but also quite a bit of haters and skeptics. So there are plenty of observers who think that XRP couldn’t possibly take advantage of the current bullish market conditions to rise in value in the short-term.

Such pessimism is rooted in ignorance. Ripple has been working hard to develop its partnerships, technology, use cases. All that work has paid off, and it translates into brand recognition for XRP. In other words, XRP has been slow as the recent bull run started (we saw Bitcoin rocketing, and then the rest joined).

Let’s not forget, however, that appearances can be deceiving. In fact, chances are that Ripple has been gathering momentum and that it’s about to experience a colossal bull run. In fact, that bull run started a couple of days ago, as we did the research needed to write this article (the current one might only be a beginning).

Ripple in the market today

Over the last seven days, XRP has grown by a spectacular 37.8%, which makes it the best performer in the top ten list. It’s trading at USD 0.4123, so it’s close to testing that 45 cent mark that is deemed by many analysts to be the critical point for the coin. And let’s not forget the coin reached that mark yesterday before going down today. If XRP can break through USD 0.45, and stand there for a while, it can go anywhere.

Every relevant cryptocurrency has been growing for the last seven days (except today). There are only green numbers among the top 32 currencies by market capitalization, and Bitcoin’s performance has been nothing short of spectacular recently. And yet, no digital coin has fared better today than XRP.

This shouldn’t be a surprise for anybody. 2017 was the best year we’ve seen in the cryptosphere by far. We’re talking about the year in which Bitcoin was close to 20k in price. Even as every coin was making progress and gaining value, none was able to outperform XRP in profitability. Then came 2018, which was the year of the nightmare. The market lost about 85% of its overall value. On this terrible year, XRP was, again, the market’s best performer.

So XRP’s price has been slow to react to the current favorable crypto climate but, it’s already responding spectacularly. There’s no reason to believe that XRP couldn’t be the world’s most profitable cryptocurrency for the third year in a row.

The IMF’s endorsement

Even the International Monetary Fund (IMF) recently recommended Ripple’s Distributed Ledger Technology (DLT), a fancy way of saying “blockchain,” and cryptocurrency as a right solution for global transaction issues. This is not advertising but, if it were, it would be the kind that money can’t buy.

In the IMF’s own words:

“…DLT systems such as Ripple can be used to efficiently process foreign payments and can be supported by international banks and payment companies.”

So the conventional financial system, which has never been precisely crazy about cryptocurrencies, is somewhat willing to embrace Ripple. So should we. Keep an on eye on XRP.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Filed Under: Market Analysis Tagged With: Bull Market, Crypto Predictions 2019, Ripple (XRP), xrp

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