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Cryptocurrencies have experienced a strong comeback of the downward trend for weeks, and only now shows signs of weakening. However, experts believe that the situation is not easily repaired and that prices will remain low for a while.
However, when the bear market hits, the sentiment becomes more bearish when the trend reaches the bottom. All start selling, and while short sellers can profit in this situation, analysts usually warn that the sale will cause prices to fall further. Since most cryptography news is already negative at this point, such predictions often make sense.
However, there is still one thing to keep in mind, which is the fact that when the downward trend enters a capitulation, it often signals that a new fund has been found. This is the perfect time to actually go against the downtrend and start buying. It is also a good opportunity to abandon coins that seem too risky and do not seem to have that bright future in front of them.
Bitcoin has fallen by 87% from its all-time high, which hit in January. However, the rest of the market fell with it, and it never lost its dominance, which still remains above 50% of the total market capitalization. In other words, while its price can be lowered to minimum levels that have not been seen for some time, it remains the market leader.
Finally, while cryptocurrencies are mostly traded in red, which was the norm for the last few weeks – there are also some that are actually performing relatively well, considering the situation.
Binance Coin (BNB)
The BNB exploded a week ago when the confirmation of Binance Chain became public. While the launch has yet to come, probably in a few months, the currency has gained a lot of popularity in the instant. Changpeng Zhao, the managing director of the exchange, also said that he believed that the crypt and the blockchain are the future. Indeed, it even predicts that the time will come when there will be thousands of blockchains and millions of coins and tokens.
The fact that Binance should soon launch its own DEX has also helped to strengthen the BNB, and even the recent partnership with Tripio has contributed significantly to the fact that the currency will be used in almost half a million hotels.
So, how did the currency affect the recent bear trend? In the beginning, the currency lost more than 50% of its value, and the bulls tried to stop it from going down further than that. In the end, it reached new lows on 6 and 7 December. Currently, BNB has a price of $ 4.78 and holds the rank of 15 in the list of the largest cryptocurrencies by market capitalization.
TRON (TRX)
Recently, TRON has had several announcements, the most important of which concerns TRON that joins Blockfolio Signal beta, published by Justin Sun. Blockfolio is a well-known network of mobile cryptocurrencies that allows the monitoring and management of cryptography.
Furthermore, Justin Sun remains at war with the TRON – EOS and Ethereum competition. He also said that his company will create a fund that will take care of developers of the competition after the collapse of their platforms.
During this war on Twitter, the price of TRON was fighting a battle in its own right, and in recent days, began to go down again, until it reached the lows that were seen previously on November 25. In fact, it was believed that if TRX were to fall below $ 0.01089965 per currency, it would launch a completely new downtrend that could potentially go up to $ 0.00844479.
Fortunately, this has never happened and the bulls have even reported TRON at its current price of $ 0.013286 per coin. It is expected that the situation will remain unchanged for a while until the final decision whether the currency will go down or up will take place.
XRP
XRP, formerly known as Ripple, has had some things during the previous weeks. Despite the fact that the currency suffered losses just like the rest of the market, it still managed to overcome Ethereum weeks ago, and has since held second place.
It has also been announced that it will serve as the first crypt used for settlements in the new dApp Corda Settler of R3, while a rental platform Omni has also announced a collaboration with Ripple to obtain liquidity.
At the time of writing, XRP is one of the many coins in the top 10 of the cryptos to be exchanged in the green. The currency suffered a gradual decline from the market crash in mid-November and reached its lowest point on 7 December, when its price fell to $ 0.292392, since then there has been a slight correction and the currency is currently trading at $ 0.308162, an increase of 0.50% in the last 24 hours.
Tether (USDT)
Tether made a surprising comeback in terms of price, market capitalization and even his position in the top 10 list. Before the market crash, many believed that the last Tether controversy would ruin the stablecoin and that it would be replaced by another. However, USDT managed to bring its value back to $ 1, but it also surpassed it and is currently priced at $ 1.02.
As mentioned, the currency has also risen to fifth place in the list of the major crypto-currencies of CoinMarketCap and is currently conveniently positioned between Bitcoin Cash (6th place) and Stellar (4th place). In terms of market capitalization, Tether and Bitcoin Cash are still relatively close, which allows the possibility for BCH to resume its old spot in the future.
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Disclaimer: this article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and / or its affiliates, employees, writers and subcontractors are cryptocurrency investors and from time to time may or may not hold stakes in some of the coins or tokens they cover. Please conduct your own in-depth research before investing in any cryptocurrency and read our full disclaimer.
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