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.

Altcoins

Best Tools to track Cryptocurrency Markets: CryptoCompare, CoinMarketApp, CoinGecko

Published

on

There are different websites and mobile applications designed to keep the track of cryptocurrency market, we cover the Top 3 of these.

The cryptocurrency market includes the prices and market capitalizations of different Cryptocurrencies like Bitcoin, Ethereum, Stellar and many others. Currently, there are thousands of cryptocurrencies, markets are 16084 and market capitalization is about $124,123,711,224.

 

There are different websites and mobile applications designed to keep the track of cryptocurrency market, we cover the Top 3 of these:

 

CryptoCompare.com

Known for its high-end API and real-time tick data, CryptoCompare has been serving the cryptocurrency space from 2014.

Founders: Charles Hayter & Vlad Cealicu

CryptoCompare shows real-time data for more than 5300 Coins and 240k trading pairs, enough for an entire overview of the market. Users can see live Order books, historical data, reports, social data and reviews on all cryptocurrencies. The website is very easy to use and is free for everyone.

 

CoinGecko.com

We love CoinGecko because it focuses on tracking community growth, events hosted by teams and open-source code development apart from the usual price tracking, market capitalization and volume traded. It was also founded in 2014.

Founders: TM Lee, Bobby Ong & others

CoinGecko’s team is very dynamic and is very active on social media like Twitter, Telegram & Facebook. They cover more than 260 exchanges with live data and have more than 3300 cryptocurrencies. They are free for everyone to use.

 

CoinMarketApp (Mobile Application)

When it comes to easily track the live prices and your portfolio on your mobile, CoinMarketApp is the preferred choice for most. With live alerts on more than 1400 Cryptocurrencies, the app saves your time and alerts you on every move.

Download on Android

Download on iOS

Apart from cryptocurrency prices, the app lets you manage your portfolio, mining pools, new contracts and the latest news from the crypto industry.

Continue Reading

Altcoins

Cryptocurrency Market Updates: Bitcoin May fall further

Published

on

The cryptocurrency market is still facing the same bullish trend today, yet again. Bitcoin price recovered a little with trading around $4300 to $4400.

The cryptocurrency market is still facing the same bullish trend today, yet again. Bitcoin price recovered a little with trading around $4300 to $4400. Yesterday the price of bitcoin fell up to $4190. Ethereum is still trading at a year and a half low of $125. Apart from ethereum, most altcoins are showing small corrections. Bitcoin Cash moved 3% upwards while Monero has moved 4% upwards in the last 24 hours. Bitcoin Gold and Bitcoin Diamond have had good gains for the day with 8% and 16% rise. IOTA is trading at around $0.32 which shows a 6% improvement from yesterday’s price. NEO is up by 5%. However, the small gains are nothing in front of the massive downtrend these altcoins went through in the past couple of days.

 

Cryptocurrency Market Capitalization Improved

The total cryptocurrency market cap yesterday came down up to $136 billion which was the lowest of 2018. In the last 24 hours, cryptocurrency market has managed to add $4 billion in the market capitalization adding to $140 billion. Over the last week, the cryptocurrency market had lost over $40 billion and over the last month, around $70 billion have been erased from the cryptocurrency market capitalization which is yet to be recovered.

 

Bearish predictions for bitcoin

While the market cap is trying to recover the price predictions for bitcoin still remain bearish as many cryptocurrency analysts have predicted that the only support after the current significant support of $4000 is at $3000. So if the price drops below $4000, it will definitely reach down to $3000 after which the price is expected to recover.

 

The overall situation of the market is still harsh as there is no major recovery from the massive losses that occurred in the past few days. What do you think about the bitcoin predictions being made by crypto analysts? Tell us in the comments section below.

Continue Reading

#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

Trending