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6 Cryptocurrencies Still Benefiting From Gains Year Over Year

The year 2018 is not a great one for Bitcoin or the altcoins by any stretch of the imagination. It is a valuable lesson for those chasing quick profits, though, as the easy money seems to be gone in this day and age. long-term investments are taking center stage. Despite the bearish pressure, the following currencies are still up by quite a margin compared to 365 days ago.

#6 Bitcoin

Bitcoin traders suffer from a very short-term memory when it comes to price movements. There is a lot of focus on how the Bitcoin price lost a momentum compared to its recent all-time high. When looking back just a bit further, the Bitcoin price is still up by over 40% compared to 365 days ago. Although a new all-time high seems unlikely this year, anything is possible in this volatile industry.

#5 Walton

The native currency of the WaltconChain project has been rather interesting to keep an eye on over the past year. Compared to its all-time high, the currency is not looking too stable. Zooming out to 365 days ago, the currency is still up by nearly 200%. A very respectable figure, and one that shows cryptocurrencies are far from dead despite what most people focus on right now.

#4 Dogecoin

The past few weeks have triggered a massive price surge for Dogecoin, of all currencies. Compared to 365 days ago, the popular altcoin is up over 210%, further confirming to all cryptocurrencies are not suffering the bearish pressure in similar fashion. In fact, Dogecoin is in the green when looking at the weekly, monthly, quarterly, and yearly market changes, which is very interesting.

#3 Bytom

Although most people have no idea Bytom is even in the top 30 ranked by market cap, Bytom is quietly making a name for itself in this regard. It is up by over 220% over the past year, although it remains to be seen how long this trend will remain in place. For the time being, it seems Byton is doing just fine, but altcoins markets continue to suffer at the hand of the current pressure.

#2 EOS

One of the cryptocurrencies getting a lot of flack lately is EOS. Even though this project is maturing thanks to the launch of its main net, there are still a lot of doubters among the cryptocurrency trading community. So far, EOS bucks the downtrend, as it remains up by over 430% over the past 365 days. A very positive trend, but not sufficient to claim the top spot as of right now.

#1 Stellar Lumens

Another digital asset met with a lot of skepticism and dismay is Stellar’s XLM. The Stellar Lumen asset is very different from traditional cryptocurrencies, but it is also gaining a lot of market momentum. Compared to 365 days ago, the value of Stellar Lumens is up by more than 920%. That figure will undoubtedly change in the coming weeks, but it is still rather positive regardless.

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Bitcoin Cash Price Gets Skewed due to Exchange Trickery

A lot of confusing action is taking place where the Bitcoin Cash price is concerned. Although its actual decline in value is quite obvious for everyone to see, the real price of BCH is not necessarily what people can see on Coinmarketcap. This is primarily because numerous exchanges treat BCHABC as Bitcoin Cash already despite nothing being decided in terms of which chain will be the longest. Bitcoin Cash Value Fluctuates Heavily Depending on where traders look at, the price of Bitcoin Cash will be either close to the $400 level or down to $250-ish. That is quite a large gap between prices, yet one that is also very easy to explain. Bitcoin Cash, as people knew it before the fork, no longer exists. Most professional exchanges have also retired this price ticker, for the time being. As the hash war rages on, there are still a lot of unknown factors waiting to be addressed. Despite this ongoing kerfuffle, there is a net 5.76% decrease in the Bitcoin Cash price, and a 5.4% decline over Bitcoin. More specifically, that is what CoinMarketCap reports at this time, although this is not necessarily the case whatsoever. In fact, some exchanges are clearly jumping the gun by labeling BCHABC as BCH and thus dragging the Bitcoin Cash price down a bit more. Exchanges currently engaging in this activity include Bittrex and Coinex, neither of which plays a big role of importance when it comes to trading. However, based on the current value of BCH on Bitfinex and Gate.io, it seems a similar incident is taking place. One also has to keep in mind Bitcoin Cash was getting battered ahead of the network split as well. Most exchanges have halted trading of BCH indefinitely, primarily because the currency no longer exists. It is evident either BCHABC or BCHSV will take over that name in the future, but nothing has been decided at this point. As such, any trading referring to just “Bitcoin Cash” or “BCH” should be avoided, as most users can never be sure which currency is effectively being traded under this name. All of this skews the picture pertaining to Bitcoin Cash altogether. Coinmarketcap reports there is still $392m in trading volume for BCH, even though that is virtually impossible right now. With so many exchanges freezing deposits and withdrawals, it is evident actual BCH trading is no longer possible whatsoever. Virtually all platforms have deposits of BCHSV and BCHABC frozen as well, which only makes this market trend more confusing. It is safe to say the entire network split has been a bit of a mess first and foremost. In the case of Bitcoin Cash itself, that name will – under the current circumstances- not be used across exchanges for much longer. Instead, the two separate camps need to be treated as such first and foremost. Until things settle down – with might not necessarily happen anytime soon – the Bitcoin Cash price itself is pretty much irrelevant for most traders and speculators. Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency. The post Bitcoin Cash Price Gets Skewed due to Exchange Trickery appeared first on NullTX.

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