TagCoin, BitBar Add to Gains

TagCoin, after taking  brief pause following impressive gains last week, surged 38% over the past 3 days. It now stands

TagCoin, after taking  brief pause following impressive gains last week, surged 38% over the past 3 days. It now stands at 0.0022 BTC, equivalent to $2.14 on Cryptsy. Volume was above average but well below the peaks seen when it doubled in value to start the year.

The coming days are likely to signal whether we are encountering a bubble or if the cryptocurrency is indeed establishing yet another higher floor for the long term.

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TagCoin surges over 120% in less than a week.
TagCoin surges over 120% in less than a week. Chart Source: cryptocoincharts.info

 

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Likewise, BitBar has continued to rise, also after doubling in value to start the year. It has gained an additional 30% since first reaching an all-time high of 0.10 BTC. It reached as high as 0.16 BTC before trailing back to the 0.13 threshold established after huge gains on Friday. Its movements over the next 1-2 days will be key in determining if it will establish a new floor at 0.13 BTC or fall back to 0.10 BTC. Trading volumes have trailed off somewhat toward the end of its ascent. Therefore, the currency is vulnerable to profit taking in the near term from traders capitalizing on its earlier rise inspired from a typically low supply.

BitBar surges over 160% in less than a week. Chart Source: cryptocoincharts.info
BitBar surges over 160% in less than a week. Chart Source: cryptocoincharts.info

It has gained as much as 160% year-to-date, with a current return of 130%. It now has a market cap of just over $1M.

 

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