Tron Price Dips in the Red Following Fresh Bearish Momentum

NulLTX Tron Price Virtual machine

All cryptocurrencies will seemingly be subjected to a fresh round of bearish momentum in the coming hours and days. The hourly charts have looked relatively weak all morning, and it seems most of yesterday’s gains will be wiped out fairly soon. The Tron price is one of the first to budge, as its losses in USD and BTC value are already piling up rather quickly.

Tron Price Starts to Slide Again

Although yesterday was a very promising day for Bitcoin, digital assets, and alternative currencies, Mondays usually offer something entirely different. There has been plenty of bearish momentum during the first day of the week for most of 2018, and this week will not necessarily be any different. If the Tron price is any real indication, things will go from positive to negative fairly quickly. That is an unfortunate trend, but it was also to be expected.

Over the past 24 hours, the value per TRX has dropped by 1.5% in USD value and 2.5% in BTC value. This is a very big setback, considering the Tron price was looking rather healthy just a few hours ago. More market pressure for Bitcoin usually results in altcoins losing value. This trend has been in place for months now, and it seems nothing has changed in this department either.

When looking across Twitter, it would seem some interesting TRX-related discussions are taking place. First of all, Justin Sun acknowledges there needs to be a vast improvement in how cryptocurrency can be bought. This is not a problem unique to Tron, though, as purchasing Bitcoin remains an ongoing struggle for a lot of people as well. Especially when it comes to the elderly, getting involved in cryptocurrencies is extremely complicated.

While that discussion is taking place, a completely different tone can be found in the tweet by Analysing Crypto. It seems this account doesn’t like Tron all that much, primarily because of the “bragging, noobs fav coin, and announcements of announcements” approach this altcoin is well-known for. An interesting view, although there will be plenty of people who disagree with these statements first and foremost.

Regardless of how people feel about Tron as a cryptocurrency, there are still those who tend to favor the altcoin for what it can offer in terms of trading profits. TheCryptoViking is one of the people looking at this altcoin as a way to diversify the current portfolio, and also pocket some profits over the coming weeks. It is always a good idea to effectively look into different currencies and assets at all times.

Although Tron is the first major altcoin to go in the red, there is no indication a lot of damage will be done in the process. The entire year 2018 has seen sufficient bearish momentum to keep markets in the red, albeit ever so slightly. As such, there is a chance the Tron price will rebound fairly quickly, but for now, the minor losses will need to be endured.

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.

Publication date: 
12/10/2018 - 11:29
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