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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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Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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