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Ethereum, Litecoin, Cardano, TRON Crypto Market Sentiment Analysis

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The global crypto market is witnessing a drop as the price of digital coins is going down. Over the last week, the value of Bitcoin went down to $7,202 and this has been lowest within the week. The only coin that did not witness a huge dip is Tron, while the remaining among top twenty coins have been going down. Understandably, the entire crypto market is suddenly experiencing fear because of this huge depression that happened overnight.

Hence, I went on to do a sentiment analysis segment reviewing the situation in order to understand the market sentiments among people who have been active in the digital currency market. The analysis lead to unpacking the three coins that are on the top 10 list. These are coins that did really well at one point but have unexpectedly experienced a fall.

  • Ethereum which is one of the highly ranked coins lately saw a huge decline in the prices. Last year, the coin was receiving a lot of praises as it brought in a lot of value to the market. In fact, the coin took its place right next to Bitcoin. However, it was in January that the value of Ethereum began falling. This could be because of the social media outcry against the digital currency.
  • The next coin that witnessed a dip is Litecoin, which has also been observing a bearish trend as it suddenly came down to $138 from $160. The fall in price was noticed over the last 24 hours. There seems to be a lot of selling pressure among the investors as the prices are going down in the market.
  • Cardano, yet another giant in the digital currency, stood at number 7. The coin fell to $0.159 over the last 24 hours, with a dip of 4.32%. The recent scandal that Bitcoin’s blockchain holds child pornography has brought a negative impression to Cardano as well. Many people have questioned the Blockchain technology and are raising questions about it.

The dip in the crypto-market could lead to a death cross which could eventually lead to investors sell-off. Bitcoin itself has witnessed a $350+ dip which has placed the market at a huge risk. This bearish trend of the coins has been putting investors at stake.

Craig Erlam, a senior market analyst from Oanda mentioned that this dip in the crypto market is a sign that people are withdrawing capital from this market. Microsoft founder Bill Gates stated that cryptocurrencies are killing people in a fairly direct way.

He brings to attention the anonymous nature of the cryptocurrencies and how it could be used for illegal activities. In the past years, research has brought to attention that 25 percent of people with Bitcoins have involved in illegal activities. This has invited huge risks including deaths.

Despite this fall in the digital currency market, Tron seems to be flourishing quite well. Tron appears to have strong supporters as the value of the coin saw a promising rise. At the moment, Tron has a value of $0.045 in the market. Despite the setback of the crypto market, Tron seems to be having a positive future (or at least better than the other top ones).

A couple more potential reasons why cryptocurrency as a whole is witnessing this collapse are:

  • The social media and search engine bans against cryptocurrency advertising that started around January.
  • There are other coins that are coming up that has eventually decreased the value of Bitcoin.

In spite of all the overwhelming responses to the fall of the crypto market, history sheds some hope. Earlier in 2015, Bitcoin hit rock bottom but it soon caught up to success as the value rose from $230 to $500.

We will be updating our subscribers as soon as we know more. For the latest on TRX, sign up below!

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.

Image courtesy of marco magrini via Flickr

Altcoins

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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Hodium
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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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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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