Connect with us
  • Home
  • Start here
  • Bitcoin Charts & More
  • Submit PR
  • Advertisement
  • Contact
CLOSE

Altcoin News

New 10% Drop For Tokens Wipes Away $9 Billion From The Market

Published

on

The cryptocurrency market lost more than $9 billion in only a couple of hours after the price of several tokens and small market cap cryptocurrencies dropped.

After the relatively strong rally which saw some tokens even rise from 30% to 50% in 24 hours, the crypto market corrected and saw a decline in the value of tokens. Some of the most affected coins in the new drop were Nano, Zilliqa, and Aelf – which dropped by 18%, 13%, and 12.9% respectively.

Currently, the analysts believe that the decline in price was triggered by the strong recovery of the market which “needed to correct”. One expert crypto trader and FX market maker named Alex Kruger commented on the situation, stating:

“BTC was rejected at $6,600 and the whole crypto complex fell like a house of cards (-10%/20% this morning). A strong bounce out of massively oversold levels does not indicate a new bull run has started.”

He also said that the majority of the traders in the crypto sector mistook a minor corrective rally that was formed by strong oversold conditions in the crypto market for a bull rally. This made them expect that the market will perform better than its recovery in the first place.

If we go back to yesterday’s price situation, the price of VeChain increased by 90% at one point against the US dollar in only 24 hours. As analysts say, a market recovery from such a bullish run is always normal.

Over the next few days, analysts expect that the Bitcoin will further stabilize at $6,400 – at least for a couple of days – before another bullish rally is initiated. Currently, the volume of both Bitcoin and Ethereum remains equal to its July levels.

 

Share This With Your Friends

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

Continue Reading
Comments
Advertisement

Altcoin News

Market Sees Red, Losing $1 Billion Overnight While Bitcoin Remains At $3,600

The latest Bitcoin news show that the most dominant cryptocurrency is kind of idle when it comes to fast growth. Over the past few days, it managed to go in the green and in the red with less than 1% movements, holding firmly above the $3,600 mark. Bitcoin has stayed above the $3,600 threshold for some time now, while its highest price point over the past 24 hours was $3,707. Currently, BTC is at $3,637 with a loss of 0.32% overnight. The total market capitalization is down from $122 billion yesterday to $121 billion today - and down by more than $2 billion from the intraweekly high of $123..2 billion. Ripple (XRP) is slightly down as well, trading at $0.32 and falling by one cent compared to yesterday's numbers. Ethereum (ETH) also declined by 0.64% and is still at $122. EOS managed to surge by 0.68% overnight and is now trading at $2.44. While most of the top 10 is green, only EOS (EOS) and Tron (TRX) managed to rise. TRX rose to $0.024 with a 0.94% growth just like EOS and its sub-1% movements. The biggest growth overnight was initiated by Cardano (ADA) and Binance Coin (BNB). While ADA surged by 2.71% to a new price of $0.045, BNB managed to climb to $6.20 rising by 2% overnight. As it is right now, the cryptocurrency market definitely needs some movement on the green side. However, the idle movements can continue as well, proving that another bear market is here.
`
Continue Reading

Altcoin News

Crypto Analysts: 2019 May Be A Year Of Bitcoin Accumulation

Over the past day, the crypto market recovered from its previous position and reached $123 billion as Bitcoin also managed to avoid another drop below the $3,600 mark. In the latest crypto news, we take a look at some analysis from multiple crypto technical analysts. Some analysts think that because of the high sell-off intensity in the previous period, there is a strong chance for the price of BTC and other altcoins to drop even further below their support levels in the short-term. Also, they believe that Bitcoin will even decline as low as $3,100 by the end of the bear market before recovering by the end of 2019. Crypto technical analyst Eric Thies said that Bitcoin might start a strong movement upwards by the end of 2019:
 “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.
`
Continue Reading

Altcoin News

Dmitry Medvedev: ‘’We Should Watch Closely What Happens To Cryptocurrency’’

The prime minister of Russia Dmitry Medvedev is in our altcoin news today after addressing the bear market while speaking at an international scientific forum. Medvedev pointed out how important it is to carefully monitor the developments of Bitcoin and other cryptocurrencies saying that their high volatility is a cause for concern for many people but the technology behind them provides many benefits and should not be set aside. The prime minister addressed the high volatility of the crypto market in 2018 by saying:
‘’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.
`
Continue Reading

Altcoin News

Nearly 1.5 Million People Used dApps In 2018, More Than A Half Being On Ethereum

A new report from Dapp.com is in the digital currency news, putting dApps in the spotlight with their increasing usage in 2018. According to the report, the number of dApps was constantly increasing and the most active dApp category across platforms was gaming, followed by betting. Decentralized exchanges had the largest volume of users of dApps, where crypto trading was the first major killer use case for decentralized applications. However, the volume transacted on decentralized exchanges is still dwarfed by the volume at centralized ones. Even though Ethereum had the most users (about 800,000) and the widest variety of dApps, the usage of Ethereum programs was less in terms of transactions than other platforms like the newcomer Tron (TRX). As the dApp report showed:
"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.
`
Continue Reading

Newsletter

For Updates & Exclusive Offers
enter your email below








ADVERTISEMENT

Join us on Facebook

Recent Posts

ADVERTISEMENT



UPCOMING EVENTS RECOMMEND BY DC FORECASTS

february

No Events

NEWS CATEGORIES

ADVERTISEMENT



Trending Worldwide

X
X