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⭐ Features
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Reddit Users Fleeing from Some Coins And Rushing to Others- Why?

  • Yuri Molchan
    ⭐ Features

    Some coins’ subreddits lost a lot of members in August, but the ones of other tokens gained many

Reddit Users Fleeing from Some Coins And Rushing to Others- Why?
Cover image via u.today

Reddit is a crucial crypto community outlet used by crypto enthusiasts around the world, but most of all– users from the US. All coins are discussed on this web resource, so its importance should not be undervalued.

Last month the subreddits of several coins gained a substantial amount of new members.

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On the other hand, there are tokens which, in August, on the contrary, lost a great number of subscribers on Reddit.

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Both charts are provided by DataLight.

The ‘green’ list

Groestlcoin (GRS) is on the top of the green list here. Even though it is currently trading at just $0.6, it works with SegWit and is already compatible with the Lightning Network. The latter automatically improves the prospects of the coin– GRS will be included into this network which plans to join crypto exchanges together to make transactions faster, cheaper, therefore, the coins which are part of it, are likely to rise in price in the future.

GRS promises almost zero commission fees and the team claim they do their best to ensure privacy for transactions within the network. Within the Lightning Network, all these features will work even better. Besides, the team releases new important developments every three months, making an emphasis on the technological advancement of the platform.

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The founders emphasized that the total emission will be only 105 mln Groestlcoins, this is also a good sign for traders and investors since a small offer, as a rule, is the reason of a high price.

Some other coins from this green list have been doing well recently and have been on the news a lot, such as Waves, dubbed as the Russian response to Ethereum, Raven (RVN), which has been on the top 10 list of Telegram crypto enthusiasts. Ethereum Classic has been added to Coinbase and Robinhood app, which made the coin gain in price a few times over the summer.

The ‘red’ list

Linda coin (LINDA), the biggest ‘loser’ on this chart is considered a ‘shitcoin’ by many. Its emission is 30 bln coins, which is hardly compatible with hopes for a high price in the future, the mining reward is 70 percent and the roadmap for this year just includes enlarging the team and the release of a wallet– that is not much at all, taking into account that the coin started off a year ago.

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The team claims that the token is made for fast and anonymous transactions– just like a whole lot of other popular and unpopular coins. Some people even consider it a crypto scam. Currently, it trades at few small-scale exchanges and costs $0.001.

If we look at the CloakCoin (CLOAK), it seems to have the potential of a winner. Among other things, it first began using the ENIGMA protocol for making transactions impossible to track. The only unusual thing about the CLOAK token is that its team stays away from illegal things and the coin has never yet, reportedly, been noticed in any criminal activities.

It may sound funny but perhaps the market is indeed not interested in it since the crime world does not use this coin, unlike Monero, for example. As Monero’s founder once said, if Monero is good enough for drug dealers, it is good enough for other people too.

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To sum it up

It is hard to say for sure why some coins’ communities are shrinking and some coins are gaining more followers on Reddit, since there are too many factors to analyze, including the element of chance.

One of the possible reasons is that a lot of users with low income cannot afford to invest in big coins (even though they can buy several Satoshis, or probably do not actually believe in Bitcoin or think that Ripple will indeed freeze all XRP in their wallets immediately, one of the consequences of XRP being centralized) or are disappointed in the current red market.

So investors are probably trying to find a ‘crypto messiah’ somewhere outside the top 20 coins’ list or even beyond the coins with the highest market cap, that is– the top 100 tokens.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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0
📰 News
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Bitcoin Price Could Drop to $2,000 or Even to $200, According to Peter Schiff

  • Alex Dovbnya
    📰 News

    Peter Schiff thinks that the Bitcoin price could possibly drop another 90 percent after plunging to $2,000

Bitcoin Price Could Drop to $2,000 or Even to $200, According to Peter Schiff
Cover image via www.123rf.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Euro Pacific Capital Peter CEO Schiff, who is particularly famous for being a relentless crypto hater and claiming that the top coin has less utility than a tennis ball, recently took to Twitter to share his new BTC price prediction, and crypto Twitter got riled up.  

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Schiff becomes a Bitcoin chartist

The gold bug predicts that the BTC price could drop below $2,000 given that Bitcoin was about to form the bearish head and shoulders pattern. However, multiple prominent crypto traders were quick to question Schiff's skills in technical analysis. Particularly, Josh Rager explained why his forecast was flawed. 


When one Twitter user saw the silver lining in Schiff's uber-bearish prediction and expressed his desire to buy the dip, the gold bug said that BTC price could "easily" drop to as low as $200, thus doubling down on his bearishness. To put this into perspective, Bitcoin hasn't seen this price level since Oct. 2015.   

Crypto Twitter started spamming the thread with the "Remind Me Tweets" bot to make Schiff once again eat his words. 

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More bearish predictions

As reported by U.Today, Schiff forecasted that the BTC price could drop to as low as $4,000 right after the top coin's 20 percent drop to the $8,000 level. That bearish call is yet to become a reality, but Peter Schiff is not the only one who expects another price drop. 

Veteran chartist Peter Brandt also claimed that the BTC price could drop to as low as $5,500 before rallying to up to $50,000

Meanwhile, trader Alessio Rastani thinks that the crypto king could end up below $2,000 if his "wild card" scenario gets invalidated and bears gain the upper hand. 

Will Bitcoin experience another major drop? Share your take in the comments! 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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