Connect with us

Bitcoin

Here’s Why Verge (XVG) Is Our Top Crypto Crash Recovery Play

Published

on

Verge vs Monero
READ LATER - DOWNLOAD THIS POST AS PDF

While Warren Buffett may not be the biggest fan of the cryptocurrency space, we know that if he was, he’d be looking to buy as much as he could right now. Be greedy when others are fearful is one of the Oracle of Omaha’s core investment tenets and, as the majority of the top twenty coins are getting hammered in the markets this week, now certainly is a fearful period.

We’ve taken this suggestion a step further and set out to find not only the coin that is severely weakened through the overarching negative sentiment in the markets but that has the potential to bounce back the highest as and when things recover.

And here it is – our number one recovery play this week in the cryptocurrency markets:

Verge (XVG).

Verge is currently trading for $0.06 a piece. At this price, the coin commands a total market cap of a little over $982 million ad twenty-four-hour volume hit circa $38 million during the twenty-four hour to time of writing (mid-morning ET).

XVG Daily Chart

XVG Daily Chart

Unlike the vast majority of other coins, XVG actually peaked on Christmas day, December 25, logging highs of $0.23 a coin for a market cap of more than $3.3 billion. This came on the back of what eventually turned out to be some misinformation on Twitter (we’re looking at you, John McAfee) but, regardless of the driver, it played a key role in drawing speculative attention towards this coin and this helped it to push into the start of 2018 in something of a strong position.

Peaks subsequent to the Christmas day highs came in around $0.22 (on a couple of occasions) but after the now much longed for January 7 market peak, XVG has traded in line with the wider markets and declined to the above mentioned current pricing.

So, right now, the coin is available at a circa 74% discount to its previous highs (highs at which we’ve no doubt many initiated a position), meaning it’s not going to take much of a bump to serve up a nice recovery return on an entry at current pricing.

But as we said, we aren’t just looking for a coin that’s fallen considerably. We also want to see some sort of fundamental driver than can either catalyze an upside run or support an upside revaluation – or both.

And with Verge, it’s all about liquidity.

This coin is one of those that’s in the sphere of awareness of a huge number of crypto enthusiasts but that, at the same time, isn’t privy to the same degree of liquidity that many of its peers enjoy.

This is rooted in the lack of exchange coverage for XVG. We think that this is soon going to change and we’ve put together a number of events to keep an eye on as indicative of a validation of our expectations.

There’s an ongoing Cobinhood vote that’s got XVG as a top contender for a listing in the next round. The same is true of cryptocurrency exchange FatBTC. The coin is already available on Binance and it’s also being added to a number of online outlets as a payment option. It also just picked up a listing on CoinDirect.

Bottom line is this: Privacy coins are going to take the world by storm during 2018 – you can take that statement to the bank. And of those top contenders on the market right now, Verge is the only one that runs a protocol like Wraith and, for us, that puts it at the top of the pile.

Combine this long-term view with a few near-term catalysts and underline it with the fact that the coin is currently available at a 74% discount to highs and you’ve got a winner.

We will be updating our subscribers as soon as we know more. For the latest on XVG, 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.


Image courtesy of Verge

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

Published

on

Bitcoin crash
READ LATER - DOWNLOAD THIS POST AS PDF

The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

Continue Reading

Bitcoin

The Bitcoin Revolution: Everything You Need To Know To Take Profits

Published

on

Bitcoin
READ LATER - DOWNLOAD THIS POST AS PDF

Bitcoin is soaring high in the cryptomarket once again, and experts are expecting a return of the bullish trend of 2017. The current Bitcoin price is $7,615 as of 23 May 6:56 AM UTC. This significant jump comes just six months after the Bitcoin price plummeted to a low of $3150 in December 2018. Since then, Bitcoin has experienced steady growth and gain in the market. However, in the last 30 days, the Bitcoin price peaked to $8,320.82, its highest price ever. This phenomenal jump occurred in a span of only 10 days breaking the Bitcoin record so far of significant gains made in short time frames. This positive growth has led to experts forecasting the Bitcoin price to hit the $20,000 mark by the end of this year.

Since entering the market almost 11 years ago, Bitcoin is still at the top of the global cryptocurrencies list. The current circulating supply of Bitcoin is at unbelievable 17,708,875 BTC. The market trend of the Bitcoin price has remained positive even when the currency did not maintain an uptrend. Cryptocurrency researchers believe that Bitcoin has the potential to grow up to a high of USD 50,000 within the next two years.

How to Profit from Bitcoin…

Continue Reading

Altcoins

3 Altcoins That Are Outperforming Bitcoin and Will Likely Face Consequences

Published

on

altcoins
READ LATER - DOWNLOAD THIS POST AS PDF

The crypto market is going through a period of massive recovery in the past few months, which has caused the investors’ optimism to return. While all eyes are on Bitcoin (BTC), as usual, the largest coin seems to be struggling with a major resistance level at $8,000 at the moment. While this level was breached a few times now, every breach resulted in a correction.

At the time of writing, BTC is approaching this level yet again, with its current price being at $7,985,79, and rising further. The price managed to grow by 1.06% in the last 24 hours, and will undoubtedly hit $8,000 in a matter of hours, if not sooner.

However, while Bitcoin continues to remain volatile and struggles with waves of growth and decline, there are some altcoins that are not following its path. Of course, most of them are performing in pretty much the same manner as BTC, as they always had. But, a few coins have actually managed to outperform Bitcoin in recent months.

While optimists believe that this might lead to decoupling from Bitcoin — something that only Binance Coin (BNB) managed to pull off up to this point — it is likely that there will be consequences for these cryptos. This likely means that a price drop for these specific coins awaits somewhere in the near future, as outperforming BTC…

Continue Reading

Elite