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Justin Sun Tweets New Partnership with “Industry Giant”, TRX Rises 14 Percent

  • Yuri Molchan
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    Tron is on the rise, a new secret partnership announced


Justin Sun Tweets New Partnership with “Industry Giant”, TRX Rises 14 Percent
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Over the past week, the market has been in the red area, thus disappointing investors and holders. Tron (TRX) has been more often in green than in red, pretty much due to the new movements made by the platform team.

The biggest TRX trader

At the time of writing, TRX is trading at $0,023324 after a 5.17 percent rise. Earlier this week, TRX even demonstrated a 14 percent surge.

The well-known fact is that the largest number of TRX traded is conducted on Binance. This exchange passes through itself around $20.511 mln equivalent of TRX. Bit-Z follows this trading giant, with a circulation of $20.284 mln worth of TRX going through its traders.


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New partnership

On Friday, the CEO of Tron Justin Sun proudly announced teaming up with a new partner that he called an “industry giant” offering his followers to guess what company he was talking about. That, most likely, contributed to yesterday’s surge of TRX.

The announcement provoked a heated reaction of the community. Last time a similar thing happened when Tron revealed the purchase of BitTorrent, of which U.Today reported in summer.

XRP rising after TRX

Ripple’s coin is another asset which has picked the bullish movement and is going up, following TRX. However, on Saturday, XRP fell down a little and is currently sitting at $0,422317 after a 0.17 percent decrease.

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It Could Take Bitcoin 22 Years to Retest Its ATH: UBS Analyst


It Could Take Bitcoin 22 Years to Retest Its ATH: UBS Analyst
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The fact that Bitcoin saw its price breaking above $5,000 at the beginning of April made everyone highly optimistic about the prospects of a full-fledged bull run. However, crypto bulls shouldn’t hold their breath since it could take decades for the number one currency to recover from its epic downfall.

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Bitcoin compared to other bubbles  

After comparing Bitcoin to other bubbles, UBS analyst Kevin Dennean came to a conclusion that BTC will most likely follow their lead, Business Insider reports.
However, here’s a catch – Bitcoin will have to undergo a long-lasting recovery, so it is not reasonable to expect another bull run in the nearest future. For comparison, it took the Dow Jones Industrials 22 years to reach its previous peak.   


‘We're struck by how long it took other asset bubbles to recover their peak levels (as long as 22 years for the Dow Jones Industrials) and how pedestrian the annualized returns from trough to the recovery often are,’ Dennean claims.

Bitcoin compared to other bubbles  

Picture: ©FactSet

With that being said, it is still not guaranteed that a certain bubble retests its ATH even after decades since a big burst. Nikkei, despite reaching its 20-year highs in October 2017, was still 50 percent lower than its ATH that was recorded in 1989.

Nikkei

Picture: ©ATLAS

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When you lose, you win

During the peak of the crypto market, Bitcoin was frequently compared to the infamous tulip mania, but these two barely had anything in common (except for the horrible stability of value). Hence, it hardly makes sense to apply a certain pattern and expect Bitcoin to behave in a similar fashion to other bubbles.

Historically, enormous price crashes actually benefited Bitcoin. As reported by U.Today, Bitcoin trader recently noticed that the BTC price rise 5.1-16.89 times every 70+ percent plunge. Crypto bulls have every reason to expect a similar outcome this time around.

'Shadow of bull statue on texture tiles floor metaphor of bull market is coming for stock market or investment asset' image by 123rf.

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