Over the past two days, we have been reporting the incredibly massive surge by one altcoin named Dogecoin (DOGE) – which managed to rise up to 60% in only a couple of days and then to later correct with a growth of 40% overall.
The main reason for the bullish sentiment of this altcoin was its announced partnership with Ethereum – dubbed Dogethereum – and the integration into the Ethereum network. These speculations drove the price up, but it seems like the upside momentum is not sticking.
As a result of this, Dogecoin (DOGE) dropped and did not maintain its bullish sentiment. Despite the massive gains, the price action looks pretty similar to IOTA’s situation – which led the altcoin jump 40% following its integration into Fujitsu which was erased after the sentiment dried off.
Dogecoin is now trading at $0.004852 which is still a positive increase from the price of the cryptocurrency a week ago – but also a falling trend given its performance over the past couple of days.
Currently, traders should keep a close eye on Bitcoin and its performance. Today, Bitcoin has surged and recorded impressive gains in what seemed like an unannounced buying influx. Any correction in the value of Bitcoin, however, could also allow Dogecoin to reverse its momentum and rise again.
Market Sees Red, Losing $1 Billion Overnight While Bitcoin Remains At $3,600
Crypto Analysts: 2019 May Be A Year Of Bitcoin Accumulation
“Similar to 2015, 2019 may be the year of accumulation.’’Another crypto researcher Willy Woo said that while a crash of bitcoin to $3,122 could lead to an increase in volume, it won’t show signs of starting of the accumulation period. He pointed out:
‘’Despite the technical setup that suggests bullishness is possible, there’s not a lot on-chain volume to fuel a prolonged up move. What we saw in the last 7 weeks was a spike of on-chain volume driven by volatility, coins moving to exchanges to trade. The initial volume spike false signalled a faster detox and an earlier end to the bear market, but in fact it was a volatility side effect. That move from $6k to $3k created immense trade volume, but it was in no way a signal that accumulation volume had begun.’’Until evidence for the accumulation of crypto assets shows up, there are still expectations of high volatility levels.
Dmitry Medvedev: ‘’We Should Watch Closely What Happens To Cryptocurrency’’
‘’But this, of course, is not a reason to bury cryptocurrencies. There are both light sides and dark sides, as in any social phenomenon, in any economic institute. And we should just watch closely what happens to them.’’He continued to discuss social inequalities and how the global digital transformation is speeding up saying the cryptocurrency is a part of that fast-going phenomena. The news comes right after major media outlets published the story of Russia’s plan to purchase $10 billion worth of BTC. Turns out that the news was fake. The Russian economist from the Presidential Academy of National Economy and Public Administration Vladislav Ginko pointed out that he strongly believes that Russia might use Bitcoin to fight economic sanctions and this story swamped the media and got massively exaggerated. Russia is, however, preparing a crypto bill that will provide stable cryptocurrency regulation in the next two months. The Duma State will be drafting a regulatory framework in February to regulate ICOs and crypto crowdfunding.
Nearly 1.5 Million People Used dApps In 2018, More Than A Half Being On Ethereum
"TRON is the most ambitious in the dapp field, with a $2 billion Project Genesis launched in the second half of the year. In addition, it spends $100 million on TronArcade to promote its dapp ecosystem."TRON (TRX) launched 97 decentralized applications in 2018, while its ecosystem and community have been growing at an alarming rate. This week, TRX was added to OKCoin, which is one of the largest US exchanges, in order to be traded against fiat, Bitcoin and Ethereum. The report also showed that gambling accounted for $3 billion in transactions over the course of 2018 in dApps.
Join us on Facebook
- Market Sees Red, Losing $1 Billion Overnight While Bitcoin Remains At $3,600
- WordPress Is Launching A Publishing Platform With Blockchain Features
- WWF Australia Launches A Blockchain Supply Tool That Allows Food Tracking
- Binance Prevents Losses By Freezing The Stolen Funds By Cryptopia Hacker
- Ford’s Plan To Fight Child Labor With Blockchain
UPCOMING EVENTS RECOMMEND BY DC FORECASTS
Altcoin News5 days ago
United States: Presidential Candidate Tulsi Gabbard Bought Crypto At Peak
Altcoin News4 days ago
Bitcoin Hovers Near $3,700 As Top Altcoins Record A Mix Of Reds And Greens
Ethereum News2 days ago
Coinbase And Kraken Officially Supporting ETH’s Constantinople Hard Fork
Ethereum News4 days ago
$100,000 Reportedly Returned From Ethereum Classic 51% Attacker
Altcoin News4 days ago
Bitcoin Drops Below $3,600 As $5 Billion Get Wiped Out Of The Crypto Market
Bitcoin Scams2 days ago
New Torrent Malware Posing As Movie File Can Replace BTC & ETH Addresses: Researcher
Altcoin News3 days ago
Major Swiss Bank Launches A Crypto Custody Solution Targeting Banks & Asset Managers
Blockchain News4 days ago
Washington’s Douglas County Wants To Build A Blockchain Innovation Campus