[BTC/USD] Price Analysis: $10,000 for Bitcoin in 2019 — Is It possible? Of Course!
[BTC/USD] Price Analysis: $10,000 for Bitcoin in 2019 — Is It possible? Of Course!

TRON News - Tron (TRX) Surpasses Tether, Taking Spot #8, Spiking Almost 17 Percent in Current Red Market

  • Yuri Molchan
    📰 News

    Tron is quickly increasing its market cap, overcoming Tether and taking its place on the top-ten scale, being the top gainer in the current bearish wave

Tron (TRX) Surpasses Tether, Taking Spot #8, Spiking Almost 17 Percent in Current Red Market
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On Wednesday Tron (TRX) managed to advance on the market cap level and, as U.Today predicted earlier, surpassed Tether stablecoin, moving it out of the way towards the top-four digital assets.

Tron is nearly the only gainer

On Thursday, January 10, the top-10 list of virtual coins is under sellers’ dominance. The only exception is Tron, which has shown a rise by 16.93 percent at the time of writing, and its former rival Tether (USDT), demonstrating a 0.28-percent increase, even despite being left behind by TRX.

Tron is nearly the only gainer

Bitcoin has fallen below the $4,000 level; this mark keeps changing from support to resistance for BTC. Currently, BTC is holding at $3,920 as per Coinmarketcap website.

The top loser here today is the second biggest crypto Ethereum (-7.59 percent), closely followed by the ‘digital silver’ Litecoin (-6.90 percent).

Yesterday, Tron bridged the gap between it and Tether just within several hours, quickly increasing its market cap, which seems easy for it, considering the circulating supply of TRX coins.

Tron has increased not only against the USD, but also against Bitcoin. TRX/BTC pair on many exchanges has risen over 13 percent.

Overall, TRX has added over 50 percent within five days. Experts believe that this is due to the launch of BTT – the native coin of Tron-owned BitTorrent file-sharing heavyweight. The new coin is based on the Tron’s TRC-10 standard and it will be used as an incentive for people sharing files on BitTorrent.

In his tweet, the Binance CEO, CZ, has called this a curious case study.

OKEs support for TRX

The sudden jump of Tron on the crypto assets’ scale may also have been caused by the fact that one of the largest crypto exchanges OKEx yesterday enabled TRX margin trading. The exchange team announced it through its official Twitter account on Wednesday.

OKEs support for TRX

Not long ago, OKEx also launched margin trading for Bitcoin Cash.

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Is a TRX correction coming?

Analysts believe, though, that Tron has overreached its short-time goals on taking new highs and traders will now want to fix their profits. Thus, a corrective movement is expected in this area.

Currently, TRX is going for $0.0304 as per Coinmarketcap.

TronGoo gets to the top

Meanwhile, the TronGoo game that has migrated from Ethereum to Tron (formerly, EtherGoo) has taken the first place on DappRadar.com within days from its migration, adding to the Tron’s success on the crypto market.

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TRON News - LTC, BNB, TRX, and Others Can Make This a True Altcoin Season — How Can Bitcoin React?

  • Jack Thomas
    🤷 Opinions

    ☀️📈Since the Crypto Winter started thawing, all the main action has come from altcoins, and now a few are breaking key moving averages

LTC, BNB, TRX, and Others Can Make This a True Altcoin Season — How Can Bitcoin React?
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While the cryptocurrency market may not be fully bullish and breaking new records in terms of gains and growth, one thing that seems to be apparent is that the total bear market is starting to draw to a close. There has been a lot more positive sentiment in the past few weeks and months.

A lot of this has had to do with a few altcoins putting on good performances in the market. Thanks to positive news with a number of top 20 coin projects, their own token value has been rising – as well as importantly staying up.

Now, there is technical analysis that suggests that coins like Litecoin, Tron and Binance Coin, as well as lesser-known Maker, are trading above their 200-day moving averages, a development typically considered a sign of a healthy market.

This is good news across the board, but what is interesting to keep an eye on is whether Bitcoin will manage to keep up, outdo the altcoins, or potentially start falling behind, enforcing a true altcoin season.

Making a move

Of the top 20 largest cryptocurrencies by market capitalization as per CoinMarketCap, both the BTC and USD pairs of Litecoin, Binance Coin, Tron, and Maker are currently trading above their respective 200-day moving averages.

A moving average is simply an ongoing calculation of the closing prices of an asset over a specified period of time, but is also a tool traders use to gauge the asset’s trend direction as well as support and resistance levels.

These positive moves by top ranked cryptocurrencies are thus reinforcing the notion that the cryptocurrency market is heading towards spring again.

However, Bitcoin, as the head and the mover of the cryptocurrency market, is still trading below its own 200-day moving average, which could also be a reason why people are skeptical of flooding back into the market.

Altcoin season?

While Bitcoin has often been the catalyst and mover of the direction of the markets – and still predominantly is today – there have been times where the remainder of the coins take charge of the direction of things.

It is still early in the supposed Crypto Spring, but with altcoins making the biggest movements and helping prop up the market, one could assume that the market is heading for another altcoin season.

The last one was seen soon after Bitcoin’s All Time High as the remaining coins caught the tailwind of that astronomical growth, but things could well be reversed here if a few more major altcoins catch up and can cross their own 200-day moving averages.

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