Bitcoin Market Wrap Up 5/24-5/31: Bitcoin Falls Below $230, Ripple Rebounds, Vertcoin Holds Steady
This week in Bitcoin, we saw a straight trend downwards, with no reversals or bounces. The price briefly held at $240, peaking at $242, and then proceeded to slowly depreciate until it hit a floor at $228 — decreasing nearly 5% over the last seven days. Since then, the price has recovered slightly and is hovering at $230. Bitcoin’s depression in price is most likely due to the attention OKCoin has been receiving due to the drama surrounding its management of bitcoin.com. In short, OKCoin abandoned the management of the website and Roger Ver, the domain owner, claimed that the CEO of OKCoin....
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Editor's Note: Vertcoin Development team has released a new update last night, just after this article was originally published with the title: "Vertcoin Community Uneasy With Developer Silence." In the digital currency community, transparency is one of the foundations of the movement. While the Bitcoin creator Satoshi Nakamoto remains anonymous, this is not normally the case with most altcoins in current circulation. With the Vertcoin markets currently dipping down, the community is calling for more communication from its developers who have recently fallen silent. CCN. "As a miner and....
Since the last market wrap up, price in Bitcoin has finally hit bottom and the trend has reversed. The defining moment that turned the price around was earlier this week when price hit bottom at $222. Since then, price has increased at a steady pace totaling to a net gain of 4.5% over the last seven days. If current trends hold, I’d expect Bitcoin to be either approaching or however just above $240 this time next week. The growth Bitcoin achieved this week seems to be organic; if it were artificial growth would have been much more rapid. This growth, coupled with lower volume (below $13....
Vertcoin has been gaining momentum since my last article, "Vertcoin Most 'Active' Coin" was written. Hopefully, that indicates that the method of analysis used has some merit. I used a 'coin activity index' to compare the prospects of the top 12 coins by market cap. Vertcoin scored highest followed by Dogecoin. I would like compare those two coins again by putting them in a head to head matchup. The reason is that Vertcoin has been steaming up the list of coins by market cap on Cryptocoincharts. Meanwhile Dogecoins performance has been rather lackadaisical either indicating a loss of meme....
Vertcoin does not think Zerocoin implementation would be a good move. Over the past few weeks, there have been rumors that Vertcoin could soon implement a variation of Zerocoin to enhance privacy and anonymity in this particular cryptocurrency. I recently talked with Paul Bradley, one of the developers of Vertcoin, to clear the air on what kinds of features we are going to see added to Vertcoin in the near future. While Bradley stated Zerocoin implementation is probably off the table due to the negatives outweighing the positives, there are are still a few privacy-enhancing features that....