1. I am not spreading FUD, I am just a technical analyst looking at the chart for potential turning points to make an investment for the long term. 2. Bitcoin is still in the bear market cycle, but we are nearing the end of this cycle. 3. However there is still the final down move to go before the bears go and hibernate. 4. Looking at the potential down move of Bitcoin, I am extrapolating where the altcoins will go because if bitcoin crashes, alts will follow. 5. I am looking at $4000-$5000 area for Bitcoin to end the bear market move. 6. That spells disaster for most altcoins. 7. This will be the final update for altcoin until the bottom is found or by some miracle the bull move starts without crashing to my theoretical target. 8. You don't have to believe me, I am just another analyst, ridicule me as you like, but that is where my chart points to. 9. I don't know what kind of FUD news will bring us there, but news always follow the charts. 10. Finally Verge (XVG) bear market cycle end point is below 1 cent. Yes 1 cent...... below it.
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Price is being held by the resistance which was once support. This fall is not done yet from my perspective.
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Still on course to under 1 cent
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Looking at BTC price action where i managed to pick the bottom, I am voiding this analysis for now. We might already have bottomed for most alts. Cheers everyone! The bulls are back *probably*
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The bears are back and below $0.01 is still on the cards. Fundamentally I dislike Verge now, the way they handled the whole announcement thing about working with a partner seems fishy and looks scammy. I don't want to even hold any Verge for now.
Tendorian, what do you think of XVG now after it broke 0.10 and the announcement is almost coming out?
I understand what you mean with that it has a lot of question marks but if you look at TokenPay, they are working together with Verge. Everything
that will effect XVG will also effect TokenPay, they would of dumped XVG if there whas a problem i think.
I am holding a lot of XVG right now.
Tendorian
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@LAMRINI, Ok fundamentally Verge is a disaster, they got pumped only because of what Mcafee said that privacy coins will do well. People saw that Verge was one of the names and that it is cheap, that was why everyone jumped in. But after the moonshot, everything news from Verge was just terrible. And their stunt about this partnership is very questionable, I am thinking that it would be a big disappointment.
A crypto coin working with another crypto coin is hardly good news, because if one screw up, the other gets dragged down. And we need to remember this whole cryptocurrency thing is still new, it is normal for them to screw up. Look at how Litecoin screw people up with Litepay, Verge has really unresponsive developers, I definitely do not see anything good in them for now.
I definitely do not see Verge making new highs, if they do so be it, I would be happy for everyone that gambled in it. Personally Verge smells funny to me, that's why I wont put my money on it.
TobiasSombrowski
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I canott see this happen! Since december i expected some 0.03, it went to 0.025... but lower from here? Hardly? Its again one of a few with green numbers in $ XVTUSD and XVGBTC look strong and i feel like resistance might be strong, but support is stronger.
TobiasSombrowski
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Correction:
XVG/BTC
XVG/USD
Tendorian
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@TobiasSombrowski, This is just a possibility, not an absolute idea. I am monitoring BTC mainly, if BTC decides to turn up, yes all alts will go up with it.
TobiasSombrowski
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What is next? I looks like verge has decided to break the downtrend!?
I understand what you mean with that it has a lot of question marks but if you look at TokenPay, they are working together with Verge. Everything
that will effect XVG will also effect TokenPay, they would of dumped XVG if there whas a problem i think.
I am holding a lot of XVG right now.