Darkcoin soars by 20% as trading gets volatile
After slumping to 7-week lows, Darkcoin has bounced back by 20% in some of its most volatile trading since May.
Darkcoin (DRK) is currently trading at 0.0108 BTC, the equivalent of $7.10, on MintPal. Its total valuation is $31.8 million, ranking it 5th amongst all Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term, 3rd amongst those mineable.
Darkcoin had been in decline since peaking near the equivalent of $16 at the beginning of June. It had experienced multifold gains within a month. A major correction was in order, the only question being if the coin will restabilize. From its peak, it fell as low as 0.009 BTC, the equivalent of $5.60. The loss of 65% transpired over a 7 week period. It was in danger of falling behind Dogecoin into 7th place in market cap until its recent bounce.
DRK experienced some massive price swings after hitting the $5.60 low. It shot up by over 12% in less than 5 hours, followed by a drop to near its previous low, followed again by its current rise. Such Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term is often characteristic of a critical point of reversal, where the transformation from seller to buyer-dominated activity produces storm winds of highly unstable price patterns.
Darkcoin's volatility contrasts with the flat activity observed with both Bitcoin and Litecoin. Additionally, it joins Ripple in being the only major coins to be trading higher over the past 24 hours, with Ripple also up by about 20%.
Darkcoin's mid-term prognosis must still contend with the bubble-like effects from its rapid rise in May, and its falling through a key support level during its recent decline. The volatility observed with DRK is often the precursor to major declines, although if the asset in question is fundamentally strong, it can signal the start of a major reversal.
Fundamentally, the market's enamorment with Darkcoin's private transaction capabilities appears to have waned, at least for the time being. The question remains if it will be reinvigorated in spite of similar features now being offered by other coins. The community is also uncertain of the next move, although some members are perhaps trying to reveal incognito signals with posts like "Popular crypto currency media website will be publishing a very negetive article on Darkcoin". In this sample, the member warns of dangerous trading to come.
After slumping to 7-week lows, Darkcoin has bounced back by 20% in some of its most volatile trading since May.
Darkcoin (DRK) is currently trading at 0.0108 BTC, the equivalent of $7.10, on MintPal. Its total valuation is $31.8 million, ranking it 5th amongst all Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term, 3rd amongst those mineable.
Darkcoin had been in decline since peaking near the equivalent of $16 at the beginning of June. It had experienced multifold gains within a month. A major correction was in order, the only question being if the coin will restabilize. From its peak, it fell as low as 0.009 BTC, the equivalent of $5.60. The loss of 65% transpired over a 7 week period. It was in danger of falling behind Dogecoin into 7th place in market cap until its recent bounce.
DRK experienced some massive price swings after hitting the $5.60 low. It shot up by over 12% in less than 5 hours, followed by a drop to near its previous low, followed again by its current rise. Such Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term is often characteristic of a critical point of reversal, where the transformation from seller to buyer-dominated activity produces storm winds of highly unstable price patterns.
Darkcoin's volatility contrasts with the flat activity observed with both Bitcoin and Litecoin. Additionally, it joins Ripple in being the only major coins to be trading higher over the past 24 hours, with Ripple also up by about 20%.
Darkcoin's mid-term prognosis must still contend with the bubble-like effects from its rapid rise in May, and its falling through a key support level during its recent decline. The volatility observed with DRK is often the precursor to major declines, although if the asset in question is fundamentally strong, it can signal the start of a major reversal.
Fundamentally, the market's enamorment with Darkcoin's private transaction capabilities appears to have waned, at least for the time being. The question remains if it will be reinvigorated in spite of similar features now being offered by other coins. The community is also uncertain of the next move, although some members are perhaps trying to reveal incognito signals with posts like "Popular crypto currency media website will be publishing a very negetive article on Darkcoin". In this sample, the member warns of dangerous trading to come.