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Crypto Market Gains Stability – Volume Still Low But More Bullish

The cryptocurrency market recently started to gain some momentum. The situation has been positive over the past 48 hours, with three consecutive increases recorded by Bitcoin. The tokens such as OmiseGo and DigixDAO were also rising in terms of volume and price – but it is still uncertain whether the market can be classified as bullish.

That is mainly because of the volume of all digital coins which is still low. Most often, the stability in the cryptocurrency sector must signify a potential build-up for a bull rally – and an increased volume in the short-term – especially if several daily buy candles are recorded consecutively.

Tether (USDT), the cryptocurrency whose value is linked to the US dollar, remains as the second most traded cryptocurrency in the market behind Bitcoin, signifying that traders are utilizing the US dollar-backed currency in order to hedge the value of cryptocurrencies.

At this point, we are far from a bullish run. The truth is, the short-term trend of BTC has become more positive but the market is still bearish. In a period like this, large-scale investors must look towards mid-term triggers and factors that could lead to market recovery.

One of the best things that happened for Bitcoin was the introduction of a Bitcoin ETF that will enable institutional investors to enter the crypto market with full protection against any security issues.

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Ethereum Classic Surges After Coinbase Listing Announcement

Ethereum Classic just rose 15% ahead of its Coinbase listing. The altcoin recorded gains two days in a row. After Wednesday’s 20% gains, it is now trading at around $14 on Bitfinex.

The surge in price follows Coinbase’s announcement in which the leading exchange officially listed ETC as available for purchase and trading on the platform. Ethereum Classic will actually be listed today (Thursday) at 5PM PST.

After the two-month high which saw ETC climb to $18.50 earlier this month, the price dropped with the recent market crash. However, it seems like Ethereum Classic is recovering well – and the listing on Robinhood also had an effect in boosting its price.

The entire price frenzy started when the rumors about Ethereum Classic being listed on Coinbase began, which happened a few weeks ago. Throughout mid-June, the price of ETC almost reached $20 but fluctuated around $17, falling as low as $11 with the market crash.

ETC has had an all-time high of $45.51 in December 2017 and will hopefully climb to that point again this year, according to analysts. However, the theory of a massive dump is still a possibility – which is why traders need to be cautious. The price should creep up to its pre-listing levels and eventually stabilize in the short to mid-term.

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Crypto Market Struggles Around $200 Billion, Bitcoin And Ether Lack Momentum

The crypto market has slightly recovered over the past 24 hours but is still in the red, after the prices of Bitcoin and Ether led a new drop which saw the market go below $200 billion.

At press time, the total cryptocurrency market cap is somewhere around $203 billion, a number which can soon change. Since August 14th when every major cryptocurrency in the market has plunged, investors are finding it difficult to record gains off their investments.

Still, this may be a good time for buying cryptocurrencies – which is probably what has been happening over the past 24 hours – hence why the prices of Bitcoin and Ether rose. Currently, Bitcoin is standing still at $6,348 while Ether remains below the $300 mark, standing at $282.

Bitcoin Cash, EOS, Litecoin, Ethereum Classic, Ripple and other cryptocurrencies recorded a drop in the range of 15% to 20%, which was triggered by a massive sell-off across the major cryptocurrency exchanges.

There were three major drops in the cryptocurrency market this year. In February, April and June, Bitcoin tested the $6,000 support level and surged to the region of $9,000 to $11,000 over the past few months, only to fall back to $6,000 which is its current position.

If Bitcoin now falls below the $5,800 mark and moves below to the $5,000 region, it is expected that other major cryptocurrencies will suffer and follow the downside trends as well.

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$30,000 Penalty + Lifetime Trading Ban: SEC Smacks Fraudulent ICO Founder

The US Securities and Exchange Commission (SEC) recently issued an officer and director bar, a penny stock bar as well as a fine of $30,000 to one fraudulent ICO founder. As the official press release noted, SEC smacked David T. Laurence for taking part in deceitful security offerings.

As the LinkedIn profile of David T. Laurence shows, he is the president and CEO of the oil drilling company named Tomahawk Exploration LLC. He has been working in the company for over eight years.

In June 2017, Laurence started creating “Tomahawkcoins” in an attempt to raise $5 million in an initial coin offering (ICO). The project which he planned would then use the capital to drill ten wells in California.

What the SEC found suspicious here was the false information provided in Laurence’s ICO. As they stated, the ICO statements ”

used inflated projections of oil production” and claimed that Tomahawk had already obtained leases for drilling on the sites. The firm also tried to portray Laurance as a principled individual by claiming that he had a “flawless background”.

Even though the ICO was not successful in raising money – the company set up a bounty program to trade the Tomahawkcoins with online promotional services. As a result, both Laurance and Tomahawk were given cease and desist orders – and they chose to avoid denying or accepting the claims.

The SEC is now confident that scammers are luring people in their projects by offering high returns on investment (ROI) and this ‘trend’ is on the rise. This is why the agency also created a search tool at which contains all the details of various investment professionals – as well as a tool named SEC Action Lookup – Individuals (SALI) which will identify investors convicted by the SEC.


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Ripple (XRP) Sinks To Lowest Price Point In 2018, Now Down 90%

The third largest cryptocurrency by its market cap, Ripple (XRP), just fell to the lowest price this year.

On Tuesday, Ripple dropped to $0.26 for the first time since December 2017, right before the massive bullish run which saw it climb to $3.75 before New Year. XRP was last seen trading at $0.266 which marks a 3% decline since the beginning of the day.

Currently, XRP is one of the biggest losers in the crypto market. Reporting a 7-day loss of 36%, it is dropping at the fastest rate. The individual market cap of Ripple (XRP) also fell by more than $5.4 billion – making Ripple erase most of the gains during last year’s bull run.

On this day in 2017, Ripple was trading at $0.16 cents, which leaves many analysts to speculate a further drop in the price of the cryptocurrency.

Still, others are confident that Ripple (XRP) may rise and the story of it coming close to the $4 mark may repeat. If that is the case, a $10 investment in Ripple (XRP) today would return $150 (if XRP reaches $4 someday).

Meanwhile, the total market cap is down by more than $14 billion from yesterday and is now below the $200 billion mark – for the first time this year.

So, is it time to ditch Ripple forever – or the perfect time to buy XRP and hold it until it rises?


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