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

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Verge vs Monero
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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

What Caused So Many Investors to Turn to Bitcoin in 2017?

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Bitcoin (BTC) has been growing increasingly popular in recent years, especially in the last two. About five weeks ago, the coin celebrated its 10th birthday, however, while it has been an entire decade of its existence, it was basically unknown to anyone who is not a particularly interested in new technologies. This all changed in 2017, when Bitcoin’s price skyrocketed from $1,000 to $20,000, making it the biggest trend of the year.

Suddenly, the entire world heard of its name, and cryptocurrencies finally got their place under the spotlight. Investors continued to arrive at the crypto space, cash was flowing, hundreds of new coins emerged, and more optimistic analysts predicted Bitcoin’s price going even higher, potentially reaching $50,000, $100,000, and more.

However, as we know today, it was not to last. 2018 was barely a few weeks in when the market crashed, the prices started dropping, and investors started selling. The profits were quickly lost for anyone who did not cash out in time, and these days, Bitcoin’s price sits at around $3,812. The crash reminded everyone that cryptocurrencies remain as volatile as ever and that they still pose a risk for investors. But, people already knew this, so why did they invest in the first place?

Chart courtesy of TradingView

Bitcoin is alluring

The first thing…

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Bitcoin

Top 5 Presidential Candidates Thoughts About Bitcoin

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Presidential candidates
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The cryptocurrency space is growing larger and has more impact on our everyday life with each new year. Despite the low prices and market crashes in 2018, the situation on the market seems to be taking a turn for the better, especially after a new surge that started on February 8th. However, as we progress through another year of cryptos’ fight for survival and adoption, the 2020 US Presidential Elections continue to approach.

With that in mind, it might be worth knowing what the current major Presidential candidates think about the crypto space, and Bitcoin (BTC), in particular. Of course, no one can know who will get elected and whether the next US President will be a crypto investor or someone who will have no problems with imposing even stricter regulations that might limit the market’s potentials.

Even so, we can at least see what they had to say about the crypto industry, and form some sort of expectations regarding the future based on that. It should be noted that the list does not include every candidate, only the major ones, and those who decided to take a notable stance towards Bitcoin.

1) Cory Booker

Let’s start with the Democratic candidates, the first of which on our list is Senator Cory Booker. Unfortunately, Sen. Booker did not reveal what his thoughts are on Bitcoin and the crypto industry,…

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Bitcoin

Why Chinese New Year Affects Bitcoin (BTC)

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Bitcoin (BTC) lost about $100 in value in the last week, and, while reasons behind the drop in crypto prices can often be hidden and unclear — this time, that is not the case. The reason for this drop is believed to be the celebration of the Chinese New Year.

The New Year celebration was over more than a month ago for most of the modern world. However, things are a bit different in China. This is a country which is considered to be one of the oldest ones in the world, with a long and complex history. The country’s traditions are fascinating to many around the world, as so many of them are different from western culture. One of these traditions is the Chinese New Year.

The New Year celebrations in China start on January 28th, which was a week ago. The New Year itself is today, February 5th, although the celebrations and festivities are going to last until February 19th. For the people of China, and all those around the world who follow the country’s tradition, this is the time to relax, take a break, and perhaps travel and visit friends and family. But, what does it have to do with Bitcoin?

China and Bitcoin

Those who are new to the world of cryptocurrencies have likely already heard many stories about China banning Bitcoin trading and…

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