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4 Best-Performing Cryptocurrencies in the Current Bear Market

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Cryptocurrencies have been experiencing a strong return of the bearish trend for weeks now, and only now does it show signs of weakening. However, experts believe that the situation will not repair itself so easily and that prices will remain low for a certain period.

However, when bear market strikes, the sentiment gets most bearish when the trend reaches the bottom. Everyone starts selling, and while short sellers can make a profit in this situation, analysts usually warn that the sale will only knock the prices down even further. Since most of the crypto-related news is already negative at this point, such predictions often make sense.

However, there is still one thing to keep in mind, which is the fact that when downtrend enters a capitulation, that often signals that a new bottom has been found. That is the perfect time to actually go against the bearish trend, and start buying. It is also a good opportunity to abandon the coins that seem too risky, and do not seem to have that bright of a future ahead of them.

Bitcoin has dropped by 87% from its all-time high, which it hit back in January. However, the rest of the market dropped with it, and it never lost its dominance, which still remains above 50% of the total market cap. In other words, while its price may have sunk to lows that were not seen for a while now, it still remains the market leader.

Finally, while cryptocurrencies are mostly trading in the red, which was the norm for the past several weeks — there are also some of them that are actually performing relatively well, considering the situation.

Binance Coin (BNB)

BNB exploded a week ago when the confirmation of Binance Chain went public. While the launch has yet to come, likely in a few months, the coin gained a lot of popularity instantly. The exchange’s CEO, Changpeng Zhao, even stated that he believes that crypto and blockchain are the future. In fact, he even predicts that a time will come when there will be thousands of blockchains and millions of coins and tokens.

The fact that Binance is expected to soon launch its own DEX has also helped boost BNB, and even the recent partnership with Tripio contributed significantly due to the fact that the coin will be used at nearly half a million hotel locations.

So, how did this affect the coin in the recent bear trend? At first, the coin lost over 50% of its value, and the bulls attempted to keep it from dropping lower than that. Eventually, it reached new lows on December 6th and 7th. Currently, BNB has a price of $4.78, and it holds the rank of 15 on the list of largest cryptocurrencies by market cap.

TRON (TRX)

TRON has had quite a few announcements of its own recently, with the biggest one being about TRON joining Blockfolio Signal beta, posted by Justin Sun. Blockfolio is a well-known mobile crypto portfolio network that allows tracking and managing of crypto.

In addition, Justin Sun remains in a war with TRON’s competition — EOS and Ethereum. He even stated that his firm will create a fund that will take care of the competition’s developers after their platforms collapse.

During this Twitter war, TRON’s price was fighting a battle of its own, and in the past few days, it started dropping again, until it reached lows previously seen on November 25th. In fact, it was believed that, if TRX was to drop below $0.01089965 per coin, it would launch an entirely new downtrend that could potentially stretch all the way down to $0.00844479.

Luckily, this never happened, and the bulls even brought TRON back to its current price of $0.013286 per coin. The situation is expected to remain the same for a while until the final decision whether the coin will go down or up comes to pass.

XRP

XRP, formerly known as Ripple, has had a few things going for it during the previous several weeks. Despite the fact that the coin has been experiencing losses just like the rest of the market, it still managed to overtake Ethereum weeks ago, and it has held the second place ever since.

It was also announced that it will serve as the first crypto used for settlements in R3’s new Corda Settler dApp, while a renting platform Omni also announced a collaboration with Ripple in order to gain liquidity.

At the time of writing, XRP is one of several coins within the top 10 cryptos to be trading in the green. The coin has been gradually dropping ever since mid-November market crash, and it reached the lowest point on December 7th, when its price dropped down to $0.292392, Since then, a slight correction took place, and the coin is currently trading at $0.308162, with a 0.50% increase in the last 24 hours.

Tether (USDT)

Tether has made a surprising comeback in terms of price, market cap, and even its position on the top 10 list. Prior to the market crash, many believed that Tether’s latest controversy will ruin the stablecoin and that is will be replaced by another. However, USDT managed to not only bring its value back to $1, but it also exceeded it and is currently priced at $1.02.

As mentioned, the coin also advanced to the fifth place on CoinMarketCap’s list of largest cryptocurrencies and is currently sitting comfortably between Bitcoin Cash (6th place) and Stellar (4th place). In terms of market cap, Tether and Bitcoin Cash are still relatively close, which does allow the possibility of BCH getting its old spot back at some point in the future.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Blogs

What Changes May the Crypto Space Experience in 2019

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After the crypto hype of 2017, a lot of newly-arrived crypto enthusiasts were caught off-guard by the price crash and bear market that took over in 2018. One month after another, investors were waiting for things to change, and for another bull run to take place. Unfortunately, this did not happen in 2018, and while the year’s final days were seemingly stable, the rally everyone wanted to see has failed to arrive.

However, crypto investors remain optimistic, with many of them hoping to see some changes arrive in 2019. There are rather great expectations of this year, especially since the last one failed to deliver. However, many are interested in what exactly is to be expected in this year, which is what we will talk about today.

Bitcoin ETF approval

The US SEC’s decision regarding Bitcoin ETFs was one of the most anticipated events throughout 2018. Sadly, the decision constantly got delayed, and the SEC never actually provided an answer. The last delay has pushed the decision into 2019, and it is now expected to arrive on February 27.

Historically, the SEC was never ready to approve Bitcoin ETF, and many believe that the delays came due to the fact that the market was not ready for then in 2018. This is backed by the fact that the SEC rejected multiple application throughout the year. VanEck and SolidX…

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Blogs

Reasons Why 2019 May Be A Great Year For Crypto

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The new year was always considered to be a time of new beginnings, where people can reflect on the past and learn from their mistakes in order to be better in the future. The same is true for the world of crypto, and investors around the world are hoping for 2019 to be better, more profitable, and to have more success than 2018.

The hope for the future is even more important when we consider all the negative development in 2018. There were numerous high-profile hacking attacks, two market crashes, with a strong bear market in between. Not to mention that some of the biggest projects that may have brightened the year a bit ended up being delayed.

With that in mind, it is understandable why investors are looking forward to the new year and all the potential development that it may bring. In fact, there are several reasons why they should be excited about 2019.

1) Bearish market to loosen its grip

The first reason why 2019 can be a good year digital currencies is that it may finally break free of the bearish grip that has been felt ever since last January. Following the first market crash, the bears settled in, and the prices kept falling for an entire year. The market attempted to shake off the negativity on several occasions, with the biggest one being…

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Blogs

3 Coins with the Largest Potential in 2019

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2018 has been a pretty bad year for digital coins, and after the initial market crash that occurred a year ago, everyone was expecting a bull run that will fix things. Obviously, it never arrived, and instead of that, all that crypto market experienced was an entire bearish year and another crash in mid-November.

Now, however, it is a brand new year, and attempts to shake off the bears’ grip can be seen even in these first two weeks. The market is still struggling and mostly losing value, rather than gaining, with most coins being in trouble once more. Still, a lot can happen in a year, and most investors remain optimistic regarding 2019. Here are some of the coins that are believed to have tremendous potential, and to be the hope of this year.

  1. Bitcoin (BTC)

Of course, Bitcoin comes first. This is the first cryptocurrency which is still dominating the market, with no other coin being even close to its market cap or price. BTC is the coin that has reached the most prominent heights, and it also lost the most in the previous year. However, there is still hope, as there are several projects and events scheduled for this year that might turn things around for the number one coin.

One thing that is expected is the approval of Bitcoin ETFs…

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