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Technical indicators prove Tron (TRX) is on its way to a bullish upturn

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Tron TRX
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Recently, the cryptocurrency market has suffered one of the most significant dips in history. In fact, this year alone the market has experienced incredible bearish moves that, in most of the cases, have been caused by hacking attacks such as the ones of Bithumb and Coinrail, as well as because of the usual volatility that’s expected of the crypto sector itself. Likewise, all of the cryptos in the market has suffered adverse changes in their prices, and this is something that even for top cryptos have been very difficult to correct.

Tron (TRX) is among those coins that have faced difficult times with their prices, even to the point where a large part of the community has been feeling highly disoriented, especially when a price take off was the most common expectation for the coin. Let’s recall that many experts forecasted the TRX token to experience a skyrocket momentum right at the moment of the launch of its mainnet, and as this happened on May 31st, the hopes were actually starting to crumble.

Nevertheless, as it all seems now, the token has already started its price correction, a fact that is actually prognosticated to improve even more with the events to come, the Super Representative elections, and the coin burn that will take place after the TRX token declares its independence from Ethereum ERC-20. Let’s see how the coming days look like for the coin!

Technical indicators report

According to the technical indicator Simple Moving Average (SMA), Tron (TRX) is more likely to obtain at the future prices in the bullish tendency. The indicator that shows the average value of the price of specific product and services has shown a result on the 100 SMA going above the 200 SMA long-term, which means the token has great possibilities of skyrocketing rather than nosediving.

Similarly, the Fibonacci extension tool has revealed remarkable results for the token, showing TRX already surpassed the 38.2 percent extension and prognosticating the closing on the 50 percent extension at $0.04281. Furthermore, if everything results as expected for the coin with the coming events, then the market will possibly experience a selling pressure that could take the crypto to the 61.8 percent extension or the 78.6 percent at 0.05400.

For its part, the Relative Strength Index (RSI) has increased considerably, as well as the Stochastic, which proves it is actually the trend that the TRX token might follow in the coming days.

Current status of the crypto market

The cryptosphere appears to be regaining control over the prices after the long rough patch that has been shaking the industry during this year (and just recently). This, in fact, is an astonishing thing in lights of the recent hacking that the popular exchange, Bithumb, has suffered; not so long ago a very similar situation occurred with a South Korean exchange, and the results were catastrophic, to say the least.

However, finally, taking numbers from the last 24 hours, the market shows up strong and resilient (Tron TRX holds the record for the only coin among top 10 to be in green if we talk about last seven days). And this is something because of which we all are cheerful for, and the most important, we expect that lasts in the long run for Tron and rest of the crypto market. But, we don’t know what the market could bring ahead, signs and hopes are positive, though.

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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.

Image courtesy of Pixabay.com

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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Altcoins

Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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