Overnight, prices in the global cryptocurrency market have overturned and are in a bearish zone. Bitcoin prices fell to $7,812, being the lowest in the week. The reaction was the same throughout the market with prices dropping to up to 8% among the top 10 coins in CoinMarketCap. The recovery from the downtrend has been very slow this week for almost all top 15 coins with an exception of TRON and Tether.
Even with such instability in the market, according to a recent survey reported by Forbes, among a group of 1000 American Millennials, 76% would invest $10,000 in Bitcoin, 12% each in Ethereum and Litecoin. It is believed that Ripple is not among the popular choice since it has very recently risen in its market capital.
In our Sentimental Analysis segment, we reach out to as many as investors, miners, skeptics, influencers, and journalists and consolidate their viewpoints on particular tokens, today specifically about Litecoin [LTC], Cardano [ADA] and TRON [TRX].
Litecoin had been priced within its one-week resistance zone at $160 up until today morning when it came crashing down to $138. With LitePay’s abrupt shutdown, Litecoin could barely hold on to its market price falling with a 13% decline rate in the past 24 hours. Ranking 3rd in CoinMarketCap, LTC is trading at $143 with a market capital of $8 billion as seen at press time. According to the previously mentioned Forbes report, millennials prefer Litecoin over Ripple, although Ripple’s market capital is more than twice the amount of Litecoin’s.
Emma Conte, a Business Developer from Cincinnati says:
“Just buy the dip and HODL. The Litecoin drop to $102 in December took us to $331 within just 15 days. Patience is all the counts when you decide to invest. Now I’m only waiting for history to repeat itself. This is the chance for a major bull run!”
James Bouchard, a Litecoin investor from Cannes says:
“Shit happens! LitePay was never the reason for my belief in Litecoin. This incedent was only a minor stumble. I believe in this community and Litecoin will again flourish. There are many more wallets such as Trezor, Exodus, Electrum-LTC which offer the best of features.”
Jay Sevingen, an Economics Professor from Istanbul says:
“People are just not understanding what Abra switching to Litecoin network means. This is a game changer!”
In conclusion, an outstanding number of 89% of the respondents believe that Litecoin will flourish again since it shows signs of growth with regards to their technology. The other 11% of the respondents are disappointed with the lack of command that Litecoin had shown in its recent events.
Cardano, with its upcoming new upgrade, has lost almost $0.100 in value. A week earlier, Cardano was priced at $0.227 and it reached its week’s lowest to $0.150 today. Ranking 7th in CoinMarketCap, ADA is currently trading at $0.159 with a decline of 4.32% in the past 24 hours as seen at press time.
Daniel Caudill, a local store owner from Paisley says:
“All these coins are just erasing all the gains they made yesterday. Cardano lost almost of half its value this week. Especially with last night’s dip, I’m extremely frustrated!”
Sheila Hamed, a Cardano investor from Dubai says:
“Cardano might be very slow in implementing their projects, but they are extremely cautious. Look at Litecoin’s mishap today. Cardano would never let such events occur at all. Cardano is just a recently released coin and it already has 10% of Ethereum’s market capital. Looking at this growth, I have all my bets on Cardano.”
Matt Wheeler, a Finance Consultant from Leeds says:
“I see a beaming future for Cardano, the tech team at IOHK has been constantly updating about the upgrades, the CEO has been conducting events after events and talking about their adoption strategy, partnerships, and technology. This only shows the commitment of the team.”
To conclude, out of the entire lot, a good 72% of respondents are of the opinion that Cardano will go back to its all-time high of $1.25 after the implementation of the upgrades. The other 28% of the respondents find it too paradoxical to believe in Cardano again, as the graph since January has only been suggesting a decline.
With TRON’s expansion into Malta and support from Binance CEO, CZ, and Malta’s Prime Minister, Joseph Muscat, TRON is still soaring with a 9.42% hike in the past 24 hours and 33% hike in the past one week. TRON broke its resistance at $0.035 on March 24th and hiked all the way up to 0.052. Currently, TRON is trading at $0.045 with a market capital of $2.8 billion.
Jimmy Randle, a coder from Belfast says:
“All you TRON haters, I hope you now understand the strong withhold TRX actually has. I’m fucking stoked now! TRON is the real deal.”
Kellen Hill, an architect from Sheffield says:
“Test launch is just a few days away. I’m so ready for this! The pump in the value is steadily growing. I just hope people don’t panic sell before the launch.”
Martin Bustos, a programmer from Madrid says:
“To all those people who are calling TRON a shitcoin have just not seen their white paper. They update their Github almost every day, their test net is launching in a couple of days. I must say, they are killing it!”
To conclude, a whopping 92% of the respondents were extremely happy with TRON’s progress in the market. Despite the slight drop today, they believe TRON will spike up with another bull run after its test net launch. A meagre group 8% believe that TRON is only a hyped coin, who will fail the market soon.