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Recent Tron TRX slumps are about to change with BTC value correction

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We all have been anxious and worried about the conditions of the crypto market during the last couple of months, a situation that, to say the least, has pushed us to formulate many questions among which the most important probably is, when will the market start recovering from the recent drops? Well, as it seems all of our prayers have been heard as Bitcoin (BTC) has managed to recover from the generalized dip just recently, a fact that definitely translates one way only, a bullish trend is about to start in the landscape.

The fact that BTC is the one coin that is starting to show a bullish behavior is for sure one of the greatest news ever, in fact, BTC represents a huge support for many coins among which Tron (TRX) is well-worth of mentioning. Like this, it is just a matter of time before the TRX token gets on a price recovery, which is expected to happen just when the 6700 mark is surpassed by Bitcoin.

Tron (TRX) by its part didn’t do that much during the last seven days, but as it’s expected the token is going to be acting in accordance to Bitcoin’s behavior, which of course, leave us with a positive sentiment knowing all of the conditions are set for us to see a market in a bullish run. Let’s see the main reasoning behind the asseveration.

Bitcoin importance for market stability

Many strategies have been deployed to stop the volatility of the market when it comes to the prices of certain coins. For instance, the integration of Tron (TRX) of the trading pair TRX/USDT, an exchange whose intention is mainly to recover the price of the token even when BTC doesn’t recover.

However, even when these strategies have collaborated with the market in general terms, the fact is that the big coins are the ones that are not backed by fiat, like BTC, to name one. At least, for now, Tron (TRX), and other altcoins cannot separate itself from BTC, it will take time.

Institutional money is coming in the game, that’s why Bitcoin is going up, and with it, Tron (TRX) will rise in value too. So, if you’re looking to invest in a good bet, both coins represent a good option right now.

Tron’s wildcards

Although the price of the TRX token is expected to correct with the assistance of Bitcoin (BTC), Tron has built a number of strategies to ensure this becomes a reality. Some of them are the following:

  • Dapps

With the recently installed Main Net, Tron is targeting decentralized applications to operate on its blockchain, and this is something that is already on the making with thousands of Dapps getting in line to migrate.

  • Tron Virtual Machine

Tron is launching its own virtual machine at the end of July, a fact that surely will call the attention of many developers in the sector.

  • BitTorrent

The CEO of the company, Justin Sun, recently managed to acquire the biggest peer-to-peer platform BitTorrent, a milestone that brings the token closer to build a decentralized internet.

  • Secret project

To keep the hype alive (as always), Tron has announced that is working on a secret project that will bring lots of benefit for the coin. Although still nothing has been confirmed yet, it is expected that it creates a great traction for the digital currency in no time. A lot of good strategic things happening, don’t miss the chance to be on the winning side as Tron kisses the skies soon. Stay tuned.

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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 Maxpixel.net

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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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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