2. Bitcoin is still in the bear market cycle, but we are nearing the end of this cycle.
3. However there is still the final down move to go before the bears go and hibernate.
4. Looking at the potential down move of Bitcoin , I am extrapolating where the altcoins will go because if bitcoin crashes, alts will follow.
5. I am looking at $4000-$5000 area for Bitcoin to end the bear market move.
6. That spells disaster for most altcoins.
7. This will be the final update for altcoin until the bottom is found or by some miracle the bull move starts without crashing to my theoretical target.
8. You don't have to believe me, I am just another analyst, ridicule me as you like, but that is where my chart points to.
9. I don't know what kind of FUD news will bring us there, but news always follow the charts.
10. Finally Verge (XVG) bear market cycle end point is below 1 cent. Yes 1 cent...... below it.
Price is being held by the resistance which was once support. This fall is not done yet from my perspective.
Still on course to under 1 cent
Looking at BTC price action where i managed to pick the bottom, I am voiding this analysis for now. We might already have bottomed for most alts. Cheers everyone! The bulls are back *probably*
The bears are back and below $0.01 is still on the cards. Fundamentally I dislike Verge now, the way they handled the whole announcement thing about working with a partner seems fishy and looks scammy. I don't want to even hold any Verge for now.
I understand what you mean with that it has a lot of question marks but if you look at TokenPay, they are working together with Verge. Everything
that will effect XVG will also effect TokenPay, they would of dumped XVG if there whas a problem i think.
I am holding a lot of XVG right now.
A crypto coin working with another crypto coin is hardly good news, because if one screw up, the other gets dragged down. And we need to remember this whole cryptocurrency thing is still new, it is normal for them to screw up. Look at how Litecoin screw people up with Litepay, Verge has really unresponsive developers, I definitely do not see anything good in them for now.
I definitely do not see Verge making new highs, if they do so be it, I would be happy for everyone that gambled in it. Personally Verge smells funny to me, that's why I wont put my money on it.
Nothing has changed, 0.045 is a strong resistance, does not look like it is breaking 0.045 yet. Still looking for below 0.01
What i posted previously