The short-term picture for some of the coins looks green as they are recovering from the fall, albeit, by small amounts. The cryptocurrencies are yet to recover from the loss taking into consideration the statistics of the last 24 hours. Today’s market is characterized by high volatility and price movements with a downside momentum. Bitcoin and TRON dipped hard by 4.44% and 7.31% respectively in the last 24 hours. While Bitcoin’s price continues to fall, TRON and the others are gaining some momentum.
After conducting an in-depth discussion with a panel of experts and based on the interviews with a group of investors, miners, journalists, skeptics, and influencers, we have carefully structured this segment called the sentiment analysis. From the numerous pieces of advice and opinions offered by the experts, we have selected a few and have quoted here in this segment. These include sentiments from people across the globe and the present market trends. This analysis is on the cryptocurrency Verge which is at the 20th spot in the rankings.
Verge [XVG] has literally pulled off a miracle by fighting hard in the midst of deep peril. Verge has suffered an attack from an unknown hacker who exploited a bug in the Verge cryptocurrency network code to mine Verge coins and has had it for a time period of 3 hours. However, the Verge team responded by initiating what is known as the ‘accidental Hard Fork’ in response to the hack with was supposed to be a fix done by Verge. Despite all these issues, the price of Vege still looks green and has an upside momentum.
The coin at 3:14 PM UTC was priced at $0.068 with a market capital of $1.019 billion. The coin peaked an intraday high of $0.0735 at 8:49 AM which rose from a price range of $0.067-$0.068. Although the coin is back in this price range the community is bullish.
Patrick Ney, an expert from Perth says:
“After finishing up a long bullish pennant ABCDE patter, Verge is looking strong against the BTC pairing and it is displaying a potential golden cross at 50/200MA. The coin is currently experiencing a buying pressure on the Binance exchange platform. As more and more buyer pour in the prices are expected to fly high.”
Mathew Woody, an altcoin investor from Philadelphia says:
“There was a prolonged decent from the all-time high over Christmas which has been 3 months now, Verge seems to be changing into a bullish channel after retracing to 0.786 fib levels. Key supports at 500 Sats and 360 Sats are found in the upcoming channel.”
Donald Buckmiller, a correspondent from Fort Worth says:
“This seems to be a terrific phase for Verge as none of the coins would be able to withstand a hack and a Hard Fork together and still maintain a steady price. This can be compared to Bitcoin’s resistance to the formation of a death cross.”
To conclude, 71% of the Verge respondents feel that the future looks good enough for Verge and it seemed to have pulled through the worst times. Another 29% of Verge respondents feel that the coin’s statistics are not good enough to give it any long positions.
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