Connect with us

Altcoins

WTF is Dogecoin, why is it increasing now?

Published

on

Dogecoin, the name is derived from the world famous meme Doge with the logo inspired from the Shiba Inu dog breed, was introduced as controversy and a joke.

Currency has always been varying from place to place and changing in terms of design, value hiking up and going down with the constant changing political rules and regulations too. In the past few years the world has been changing digitally and ever since, the term cash is rarely used even while speaking and even more rarely for money transactions. Money transactions has been becoming digitised money ever since digital currency came into the market. It has been rising even more since the rise of Bitcoins. But what is this dogecoin everyone is talking about? It has a nice ring to its name too.

Dogecoin, the name is derived from the world famous meme Doge with the logo inspired from the Shiba Inu dog breed. Dogecoin was introduced as controversy and a joke expecting to achieve a broader market capture than Bitcoin. This even led to its nick name “joke currency” but now the whole world is talking about it seriously, what an irony.

 

Why does dogecoin keep increasing now? Following are few reasons:

 

Makes Life easier:

Everybody wants to have digital money as it is easier for transactions, records free, no hands on experience needed, easy to understand, faster way to make money but at present there are many digital currencies out in the market and Bitcoin is expensive.

Wish everyone one of us had the chance to buy Bitcoin at its baby stages. People find Bitcoin expensive and when they hear the name dogecoin, it immediately sounds like “Yeah, I have heard about it. Why not buy it as its less expensive than Bitcoin”.

 

Young generation wants to change for the better:

With changing technology and new gadgets coming into the market every day, every new young teen who are tech savvy especially wants to make a difference in the world and prove themselves thus allowing them to explore new opportunities in all kinds of industries and medium that makes them look like all know type of person.

They find this new trend of digital currency which the whole world is talking about as a means of showing the wold who they are. As seen and said dogecoin Is less expensive and feasible to use than Bitcoin. Teens are more likely to take the chances.

 

Everybody deserves a second chance:

Bitcoin has revolutionized the currency as we knew and with its rise everybody felt regret as for not buying their coins at its initial stages as a reason of lack of confidence in its rise or lack of trust in its security and privacy. Now everyone wants a piece of it but can’t afford it. When this the case then everybody looks for an alternative to Bitcoin leading them to dogecoin which has been rising up rocket high in terms of its value and trust in its security  in a very small period of time.

When the whole world keeps talking about dogecoin, its automatically gives rise for the people to try them, buy them which in turn expands the market of it too.

Internet as a marketing medium:

There is also this one major internet eye-catcher through which everyone gets the idea to buy dogecoin and contributing their part to its rise too. It is none other than reddit. People come to reddit for various reasons and always find their solution. When they see lot of people talking about this cryptocurrency and also buying them, it automatically brings a sense of belonging to the viewer and the curiosity to buy them and talk about it in reddit as a part of their share too. This has even allowed reddit and dogecoin to collaborate leading some reddit users to get a certain amount of free coins. Lucky people you would say.

 

Value in the future:

People believe that the value of dogecoin will one day arrive at $1 which also paves a path for them to believe that when it does they will be having the opportunity to live a luxurious life and if it fails, then immediately sell out what you have in hand as crypto coins and what is left is still profit to you. It’S a win win situation for you.

Media and their role plays:

Media plays one of the major role in the rise of cryptocurrencies In general and especially dogecoin. Most people in the world love to talk about everyday trends and the media uses this as an opportunity to make dogecoin a king in the eyes of people who are willing to try and buy something new thus forming a community of their own expanding the market.

Cryptocurrencies have a lot of benefits and have been helping the world to be a better place with their attractive and ergonomic features. In the foreseeable future it is going to change the wold even more. What matters is if people are willing to take the chance and buy them and be a part of that community too.

#Bitcoin

Bitcoin Cash Hard fork screwed the whole cryptocurrency market

Published

on

Whole cryptocurrency market is suffering because of the continues wars going on between ABC and SV which has created a bad reputation of the crypto space.

The original Bitcoin Cash split into Bitcoin ABC and Bitcoin SV during the hard fork but no one is sure to weather BCHSV or BCHABC will survive in the market as the hash wars still continue. The hard fork has lead to an uncertain future of Bitcoin Cash and also screwed the whole cryptocurrency market. The Price of both the new coins is on a continues decrease where Bitcoin Cash ABC values at around $226 and Bitcoin Cash SV values at around $76.

 

Cryptocurrency Market Crash

The whole cryptocurrency market is suffering because of the continues wars going on between the two teams which have created a bad reputation of the crypto space to the newbies. At this time when more and more institutional investors were entering into the cryptocurrency space, the hard fork has created a feeling of Fear, Uncertainty and Doubt amongst them.

 

BTCUSD yearly chart

BTCUSD yearly chart

 

As the hard fork started, the entire cryptocurrency market faced a downfall where all major cryptos are on a 6 month low with bitcoin trading around $5200 that is a yearly low for the most dominant cryptocurrency. The decline is the price has created fear in the minds of investors who are now talking about capitulation.

 

Should Craig Wright be blamed?

Craig Wright who claims to be the real Satoshi Nakamoto and the founder of the original bitcoin has been funding his side of the war using BTC. Cryptocurrency enthusiasts around the world are criticizing Craig Wright and also calling him a lier.

 

 

The local media’s role

The real reason behind the rise of cryptocurrency and blockchain was the mass adoption by people who heard about it through local media. At that time, the local media described bitcoin and other cryptocurrencies as the future of money explaining the decentralized nature of such currencies, but now due to the wars within the cryptocurrency ecosystem, the local media has started to criticize cryptos and people have started to lose faith in the crypto market.

If the amount of money being used in such hash wars would have instead been used for the development of the crypto ecosystem with advancements such as lightning network, the market could still be flourishing rather than being on the verge of getting sunk.

Continue Reading

#Ripple Price Analysis

XRP price analysis and market updates

Published

on

XRP has overtaken ETH again by becoming the number 1 altcoin according to market capitalization. Crypto analysts believe that XRP can outrage bitcoin too.

XRP has overtaken ETH again by becoming the number 1 altcoin according to market capitalization. Crypto analysts believe that XRP can soon outrage bitcoin too and take the spot of the number 1 cryptocurrency while bitcoin is still more than 52% dominant. XRP had a downfall last Wednesday when XRP price fell to $0.43, but in the last 24 hours, XRP experienced a good bullish momentum with a 12% rise trading above $0.51. XRP is currently trading at $0.519 (at the time of writing this article).

 

XRPUSD 5 day chart

XRPUSD 5 day chart

 

One of the major reasons for the rise of XRP is the approval of cryptocurrency ETF by the Switzerland authorities and also the adoption of RippleNet by more and more financial institutions worldwide. Many other altcoins apart from XRP also experienced a bullish momentum in the last 24 hours. XRP is on the top of the list for gainers while Stellar and Monero are on the 2nd and 3rd position. The price of bitcoin showed little improvements by remaining above $5600 mark.

Many financial analysts predict a bearish future for cryptocurrencies in 2019, while many other cryptocurrency enthusiasts believe that the following predictions are just to create a feeling of fear amongst the cryptocurrency investors. What do you fell about the same? Tell us in the comments section below.

Continue Reading

#Ethereum Price Analysis

Ethereum Price Analysis: Can ETH cross 200?

Published

on

Ethereum price is likely getting ready for an all-encompassing remedy above $179. Upsides will in all probability confront sellers close $194.

MACD – Set in the bullish zone.

Relative Strength Index – Moving higher towards the 50 level.

Support Level – $165

Resistance Level – $194

 

Key Points

  • ETH price is shaping a not too bad support over the $165 level against the US Dollar.
  • There is a noteworthy bearish pattern line set up with resistance at $193 on the 4-hours diagram of ETH/USD.
  • The pair may gradually rectify higher towards the $188, $192 and $194 resistance levels.

Ethereum price could exchange higher towards the $192-194 resistance zone in the close term.

 

Ethereum Price Analysis

This previous week, we saw a noteworthy decay from the $223 swing high in ETH price against the US Dollar. The ETH/USD pair fell underneath the $212, $200, $196 and $180 support levels. Ethereum price exchanged near the $165 level and framed a month to month low. Afterward, Ethereum price began a transient recuperation and moved over the $170 resistance. In any case, Ethereum price attempted to break the $178-179 resistance. It speaks to the 23.6% Lie retracement dimension of the last drop from the $223 high to $165 low.

It appears as though Ethereum price may combine in the here and now over the $165 level. Afterward, it could outperform the $178-179 resistance to expand the recuperation. Be that as it may, there is a noteworthy resistance looking out for the upside, close to the $192-194 zone. Besides, there is a noteworthy bearish pattern line set up with resistance at $193 on the 4-hours diagram of ETH/USD. The pattern line concurs with the half Lie retracement dimension of the last drop from the $223 high to $165 low. Additionally, the 100 straightforward moving normal on a similar outline is likewise close $194-195.

 

ETHUSD 5 day chart

ETHUSD 5 day chart

 

The above diagram shows that the Ethereum price is likely getting ready for an all-encompassing remedy above $179. Be that as it may, upsides will in all probability confront sellers close $194. At last, the price could decay indeed towards $170 and $165.

Continue Reading
Advertisement blockonix.com

Live Crypto Prices

  • BTC
  • USD
  • AUD
  • CAD
  • EUR
  • BTC
    Bitcoin(BTC) 4510.53778315
  • ETH
    Ethereum(ETH) 134.613814386
  • BCH
    Bitcoin Cash(BCH) 232.294629818
  • EOS
    EOS(EOS) 3.7464558077
  • LTC
    Litecoin(LTC) 33.5590191528
  • ADA
    Cardano(ADA) 0.046500159
  • TRX
    TRON(TRX) 0.0144471799
  • DASH
    Dash(DASH) 109.576084631
  • XEM
    NEM(XEM) 0.0793482431

Trending