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Why is xvg cryptocurrency going down

why is xvg cryptocurrency going down

First, let’s look into some aspects of XVG:

Market performance

The coin saw its last major increase between December 12th and December 19th, recording an 800% rise in value. However, it went down immediately after that. But even a good coin is expected to experience such a correction after such a sharp growth.

The best coins to invest in are those that have limited supply cap. Verge has a supply cap of 16.5 billion coins, out of which14 billion have already been issued. This means that in the long run, the demand for XVG will keep on growing in relation to its supply. This will result in a price rise, which will turn out to be a profitable investment for those that bought the coin now while it’ still low.

Price

Buying big cryptos such as Bitcoin and Ethereum right now will not bring you much profit now unless of course, you dispose of the necessary capital. That’s why many investors turn to low-cost altcoins that can be purchased in large amounts. Verge is currently priced at $0.05, being a really cheap buy. Any small price rise will translate to great profits if you happen to own it in large numbers.

Privacy

One of the reasons why cryptocurrencies are so popular is because of its anonymous nature. Verge works to obfuscate the user’s IP address, and while this helps with privacy, but it’s not a full-proof security. When it comes to privacy, there are other cryptocurrencies that fare much better. For example, Monero doesn’t have a public blockchain like verge does, offering more privacy. It does, however, offer more privacy than Bitcoin, but if you really are set on true anonymity, there are better options out there.

Stability

XVG is relatively stable against other major cryptos and USD. This means that the technical aspects of verge have a solid foundation. This removes any doubts that the coin might be a pump and dump scheme like a wide majority of coins. Its stability also makes it a long-term investment with concrete fundamentals protecting it from negative price movements.

Availability

A very important aspect that should also be taken into consideration is the number of exchanges that the coin is listed on. The more exchanges that list the token, the better. That’s because it has more exposure and it gets traded more, which raises its price, merely on the basis of demand and supply.

Currently, Verge can be traded on the following exchanges: Binance, Bittrex, Upbit, fex, HitBTC, Gate.io, Bitfinex, Cryptopia, YoBit, LiteBit.eu, Bitbns, Vebitcoin, CryptoBridge, CoinExchange, Trade Satoshi, Trade Ogre, and SouthXchange.

Rumors

The development of Verge currency waned significantly after the Founder was accused of owning most of the XVG coins kept in multiple accounts established by him.

An incredibly important cryptocurrency prediction: bi-furcated crypto markets on steroids in 2022

And here comes THE most important cryptocurrency prediction for 2022 as it relates to crypto markets: bi-furcation, but on steroids.

Since the Corona crash we have noticed an unusual behavior within crypto markets: bi-furcated markets. Very often it has been a select few coins or tokens that have been rising while the rest of cryptocurrencies were flat. This phenomenon has never been as outspoken as in the last 12 to 18 months.

What this really means, when combined with the other 2 cryptocurrency predictions outlined above, is that crypto investors have to be on the lookout for setups like the one shown below. There is no better way to explain this by visualizing it with a current example: SAND.

This is the chart setup of SAND in October of 2021.

This is the same chart one month later, right before 2022 kicks off.

A 10-bagger in one exactly month.

Why is this incredibly important?

Pretty obvious, isn’t it. November of 2021 was a month with a bearish bias for the entire crypto market with the exception of a handful of tokens. SAND is the most extreme illustration of a cryptocurrency with an extremely bullish price action in a month where most were flat or bearish.

We expect more of this in 2022.

It’s obvious, the big profits in crypto investing in 2022 will be made by a happy few.

This #cryptocurrencies forecast suggests that crypto markets will be bi-furcated on steroids in 2022. It also suggests $BTC will cross 100k which is when #crypto #investors must become very prudent. $ETH $XRPClick To Tweet

We pride ourselves on being the first crypto investing research service in the world, and also the most accurate one in the world. You can join us on this ride, as the secular bull market is going to move to a climax in 2022 (not later than 2023).

More Transactions Coming Means More VET Price Pressure

The more transactions and smart contracts on the chain mean more VTHO will be burned. These transactions require VTHO to be used and burned.

As more VTHO is burned, enterprises will need to go on the market to buy more VTHO in order to execute blockchain writing. This would thus increase the value of VTHO. If an enterprise doesn’t want to go this route, it could buy VET and produce its own THOR; a move which should see a price increase in the native coin (VET), still boosting the value of holders.

While all of this happens, Vechain is currently in talks with the Chinese government to create a new carbon ecosystem—this time with multiple participants (large enterprises) that could. take part. This would be even bigger than BYD’s Carbon Credit application for electric vehicles. Vechain could find itself as the primary blockchain for an entire ecosystem of the “tracked” economy within Chinese initiatives.

VeChain Works With Walmart China To Power A Food Safety Platform

Walmart China has recently announced a new VeChain powered food traceability platform. The goal is to provide consumers with the possibility to have more information about the quality of the food they are buying.

Users will be able to scan the QR code from different products sold in China and understand how they have been produced.

Liu Xiaoen, Chief Purchasing Officer of Wal-Mart China, commented:

“Wal-Mart has always been committed to becoming a retailer trusted by consumers. In the 23 years since entering China, Wal-Mart has continuously strived to improve food safety and quality management. Blockchain technology will help Wal-Mart become a leader in commodity retrospective management in the retail industry.”

With this new traceability system, it will be possible to see traceable fresh meat account for 50% of the total sales of packaged fresh meat, vegetables will account for 40% of the total sales for packaged vegetables. Furthermore, traceable seafood will account for 12.5% of the total sales of seafood by the end of 2020.

This is very important for VeChain holders that are trying to understand how the digital currency is going to behave in the future. As perVeChain Insider, the recent increase in transactions on the VeChainThor blockchain can be related to Walmart going live on-chain with 23 different products.

All the transactions will require VTHO that is generated by VET. There are 37 million VTHO generated each day. More than 20 million VTHO are also burned every single day. In the future, the number of transactions could grow since Walmart is expected to scale the platform by another 100 product lines.

It is worth mentioning that this is going to be just one of the partners of VeChain. As the product shows positive results in Walmart China, there may be new interested parties in improving their solutions by implementing blockchain technology through VeChain.

According to the team behind VeChain, there could be over 2 million daily transactions with the help of Walmart China. This would make VeChainThor a bigger network than Bitcoin (BTC) and Ethereum (ETH) combined.

There are also other companies around the world that are already using blockchain technology in order to track different products in supermarkets. This is very positive for individuals that would be able to have more information regarding the products they purchase in different retail stores in different countries.

Fundamentals are very important for a cryptocurrency network. During periods of weak growth or a bear market, it is very important for crypto and blockchain projects to remain active improving the solutions they offer to individuals. VeChain continues to expand in the market. Since the beginning of August, the number of accounts with more than 1 VETgrewby almost 4%.

It will be very important for companies to embrace VeChainThor and improve the products and services offered. This is going to help increase the adoption of VeChain and help increase the price of the VET digital asset. More partnerships and agreements with firms are going to be very bullish for the long-term price of this digital asset.

Verge’s Price Forecast For 2023

If Verge comes up with rapid development projects and collaborations. Then the XVG price could skyrocket to $0.0299 by the end of 2023. However, if adverse market sentiments such as US Feds’ interest rate tapering impacts the price action. Then the price would reach a minimum value of $0.01565.

Verge Price Prediction

The whole crypto world is on a verge of a full-fledged bear market. Bitcoin has slumped 50% from its all time high amid the broader market drops impacted by raging inflation and US Fed rate increases. Investors are selling risky assets and moving into more stable markets. Crypto is still perceived as a very risky play and hence the sell off. Our algo still sees a some green in 2022, especially in the second part of the year. This is reflected in our 2022 predictions. Right now, Bitcoin needs to find a local bottom before we can move in the opposite direction and reverse the trend. Once Bitcoin settles in the new price range, altcoins will start to do the same – we have witnessed this scenario dozens of times in the distanced and more recent history. Our price prediction model is bearish for the next 90 days with a hint of a bull market at the turn of the quarters from Q1 to Q2. We expect whales and other bigger players in the market to finish filling their bags around that time which will cause a typical and sudden crypto spike. CaptainAltcoin team created a price prediction model with a multi-faceted approach to crypto that takes into account both technical analysis and fundamental assessment of each project. Fundamentals that we evaluate are team, tokenomics, use case, community, marketing efforts, liquidity and exchange availability, hype & speculative potential and some other proprietary factors developed in our crypto lab.

XVG Price Prediction For The Next 90 Days

Below is a tabular overview of how will XVG develop in the short-term (for the next 90 days), according to our prediction model:

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Verge (XVG) Price Prediction For 2022

Potential LowAverage PricePotential High$0.0106$0.0136$0.01660

Verge had entered the year 2022, whilst being on a slide to the south, and with a price tag of $0.01772. The downtrend was further aggravated following the market-wide crash. The XVG price sliced through 50-200 days MA with the consecutive generation of higher lows. Which led to the crypto asset finding support at $0.0093.

After ranging sideways until the 24th of March, a spike in volumes called for an uptrend. Which pushed the price to $0.0148 by the close of the quarter.

Not All Tokens Go the Same Direction

This is by no means a groundbreaking reveal, but it’s worth noting that beneath the question of why are all cryptos down, not all cryptos are actually down. Not every stock on the Dow or Nasdaq trends in the same direction. And the same goes for crypto. Sure, Bitcoin may act as the bellwether for cryptos in general. But there are always outliers.

While the majority of tokens were in pull-back mode, QuickSwap (QUICK) has quietly gone on a solid run. It was up around 15% in the past day at last check. Loopring (LRC) has clawed back some of its loses since November and is up more than 11% while the rest of the markets appear to be crumbling. And the governance token for the Alchemix protocol, ALCH, is also on the rise.

Even though there may be some dark times ahead for some of the more popular cryptos, that doesn’t mean there aren’t smart investments to be had in the crypto space. Instead of asking, why are all cryptos down, it could be a worthwhile exercise to ask which tokens are poised to buck this trend. Because we think there are a lot of them out there.

Iota Price Prediction

The whole crypto world is on a verge of a full-fledged bear market. Bitcoin has slumped 50% from its all time high amid the broader market drops impacted by raging inflation and US Fed rate increases. Investors are selling risky assets and moving into more stable markets. Crypto is still perceived as a very risky play and hence the sell off. Our algo still sees a some green in 2022, especially in the second part of the year. This is reflected in our 2022 predictions. Right now, Bitcoin needs to find a local bottom before we can move in the opposite direction and reverse the trend. Once Bitcoin settles in the new price range, altcoins will start to do the same – we have witnessed this scenario dozens of times in the distanced and more recent history. Our price prediction model is bearish for the next 90 days with a hint of a bull market at the turn of the quarters from Q1 to Q2. We expect whales and other bigger players in the market to finish filling their bags around that time which will cause a typical and sudden crypto spike. CaptainAltcoin team created a price prediction model with a multi-faceted approach to crypto that takes into account both technical analysis and fundamental assessment of each project. Fundamentals that we evaluate are team, tokenomics, use case, community, marketing efforts, liquidity and exchange availability, hype & speculative potential and some other proprietary factors developed in our crypto lab.

MIOTA Price Prediction For The Next 90 Days

Below is a tabular overview of how will MIOTA develop in the short-term (for the next 90 days), according to our prediction model:

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