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John McAfee’s Comment On Verge (XVG) Leads To Massive Price Surge

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John McAfee, the founder of the McAfee antivirus gave his thoughts about various cryptocurrencies last week, including Verge (XVG), Monero and Zcash through Twitter’s microblogging platform. However, his tweet about Verge seems to have been quite weighty because the price of the altcoin ended up doubling overnight.

“I am inundated by people asking me for recommendations on cryptocurrencies. If you would use your heads you would figure out that the privacy coins (anonymous transactions) will have the greatest future. Coins like Monero (XMR), Verge (XVG), or Zcash (ZEC) cannot lose,” stated McAfee in a tweet.

The cybersecurity guru’s tweet seems to have created a big impact considering the fact that the price of Verge went up by 100 percent. It also highlights the fact that McAfee has some influence in the cryptocurrency community. He has been known to be quite vocal about cryptocurrencies and is especially biased towards digital currencies that are focused on Privacy, such as Verge, Zcash, and Monero.

Zcash and Monero are top performers in the cryptocurrency game as far as market cap is concerned. The fact that he mentioned them together with Verge seems to have encouraged a positive investor outlook on Verge. The price of the digital currency went up from $0.009367 on December 13th to $0.131282 on December 20th. Verge currently has a market cap of $1,897,663,154 and is currently holding down the 20th position in the cryptocurrency ranking.

It is interesting that McAfee believes that cryptocurrencies that focus on privacy will emerge on top in the future. Such currencies have been growing more popular but then again the future is full of uncertainty. It is also a bold claim especially considering that governments from all over the world are trying to get some degree of control over cryptocurrency transactions. This is one of the reasons why some digital coins focus on privacy.

Meanwhile, the security guru also described XVG as one of the best altcoins to purchase currently. However, he also advised investors to be careful when selecting the altcoins they want to invest in because there is a lot of risks involved. As for Verge, its recent surge was quite impressive but it is also worth noting that it also tanked slightly after that. However, investors are watching keenly to see how the digital currency will behave especially now that it has been tossed into the spotlight by McAfee.

McAfee has also talked about Bitcoin in the past and even went as far as stating that the price of bitcoin will go up to $1 million. However, a lot of people believe that that forecast might be too ambitious.

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. Please conduct your own thorough research before investing in any cryptocurrency.

Image courtesy of Gage Skidmore via Flickr

Featured news

Can Sharding Fix the Limitations of Blockchain or is the Network Doomed?

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Performance and scalability issues have bottlenecked the future development and real-life application of popular mainchains, such as Bitcoin and Ethereum. Many methods have been employed to solve this problem, but all of them have their own pros and cons.

The Impossible Trinity – safety, decentralization and scalability, coined by the blockchain world, bars the way to the future and the industry has fought hard to figure out an optimized solution. Sharding, proposed by Ethereum, has been viewed as one such candidate.

What is sharding?

Sharding technology splits a network into smaller partitions called shards, which contain an independent state and transaction history. The idea behind this is to divide a huge amount of workload into smaller pieces to make life easier for every participating node.

If sharding were to be adopted, each node will only need to keep a part of the network’s information, instead of downloading the whole ledger, which can lead to a large data file. Subsets of nodes grouped into one shard will only process transactions specific to that shard. By doing this, the network will be able to process many transactions in parallel, and the performance will continue to increase with more nodes joining in, thus making the network highly scalable.

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Altcoins

Encrypgen’s New HODLING Incentive Program May Send DNA Token Soaring

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Cryptocurrency traders have enjoyed a Bitcoin moon shot during the past few months.  Those gains have created a much more enjoyable environment for crypto bulls.  Whether it’s a temporary or permanent increase remains to be seen but hitting the 10,000 level has put everyone in a better mood.  Unfortunately, altcoins have not had experienced the same type of gains and are lagging significantly behind Bitcoin.

I’ve written articles in the past year that there is at least a decent chance that many altcoins won’t survive the current environment.  The ones that do will do so because they created a platform that has real world usage.  After spending countless hours researching many of the existing altcoins, I’ve yet to see a company that is more promising than Encrypgen (DNA).

Encrypgen Background Information

Encrypgen is a genomic blockchain network that provides customers and partners with best-in-class, next generation, blockchain security for protecting, sharing and re-marketing genomic data. This creates a fair marketplace for a person’s DNA that can be stored privately and sold (if a person wishes to do that). A person’s DNA can also be shared privately and securely with their physician for their personalized care.

Typically, people can send their DNA off to a lab to find out who they are and where they come from. As fun as that might sound, there is a significant security problem…

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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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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…

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