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It’s often difficult to keep up with the crypto news headlines, given that on any given day we see literally 100’s of news pieces published across the internet. However, it’s very easy to spot the trends as a result of this sheer volume. What you might have seen over the last week is very positive news coming out about Bitcoin Cash, XRP and TRON. So, when you ask what BCH, XRP and TRX have in common this week, we say – they have all broke the news with big headlines this week.
As you should know, crypto news has an impact on the markets (again, this is as a result of the sheer volume of news) therefore, when good news comes out, what we tend to see is the respective cryptocurrencies start to increase in price. This is because, when positive news surfaces, investors start to pump more money into the cryptos as a result of FOMO, fear of missing out. Everybody knows that good news encourages the price to climb so upon the release of positive news, a perfect buying opportunity tends to present itself.
Now, remember that even with all of this in mind, the markets are still very volatile and that even when a price climb begins, the markets are still at risk of falling. We can’t ever predict what will happen within the markets so therefore, always do your own research before choosing to invest.
Why Bitcoin Cash saw a flash increase
Bitcoin Cash has flown this week, bringing in an awful lot of value and making a lot of investors a little more optimistic about the future of their investment. Now of course, Bitcoin Cash isn’t quite back on track towards it’s $2,000.00 target, however, upwards movements can only be good news right?
“Since the first of November, Bitcoin Cash has seen a 45% rally as Binance and Coinbase, two leading digital currency exchanges, announced their support to their upcoming Bitcoin Cash fork due on the 15th November. On its website, Coinbase announced that ‘in the unlikely event that several viable chains continue following the fork, Coinbase will make sure that customers will have access to their funds on each chain. As a hard fork occurs, holders of the forked digital currency are eligible to get both coins. But if the crypto holdings are deposited on an exchange then the exchange will have to adopt both protocols to let users migrate both coins.”
Bitcoin Cash has started to fly as a result of a pending hard fork, which will see a huge upgrade roll out across the Bitcoin Cash network. The reason Bitcoin Cash has moved out is simply down to speculation and excitement, some even believe that Bitcoin Cash will enter a massive bull run once the hard fork has taken place. Remember, don’t let this be your sole reason for investing in Bitcoin Cash. A hard fork is a risky move, one that could pose issues further down the line, though, given that the Bitcoin ABC run these hard forks twice a year, we’re pretty confident they know what they are doing.
What happened to XRP this week?
XRP has also seen positive movements this week as a result of some headline breaking developments both within and around Ripple. XRP seems to be especially responsive to news recently. Remember how XRP shot up over 100% with the news of a pending xRapid launch date? It’s a volatile cryptocurrency, one that is finally making significant progression after what looks to have been a pretty tame year.
“XRP is once again making headlines and this time around it’s about its price and overstanding a place in the market. Recently, there has been a lot of rumours regarding both the short-term and long-term future of the popular cryptocurrency. After months of positive news as the crypto scored major exchange listing, something was bound to happen in the end. Earlier in the week, news broke out that XRP would be supported by Wirex as used for an option on Apple Pay.”
To continue…
“With news like this emerging, the market was bound to have a slight rumble and given the advancements in adoption, the crypto has made over the past few weeks. Overall, the news turned out to be the catalyst which launched the slight bull run. The upscale saw the token gain over 18% which led to it to break into the $0.5 region and solidify a new level of support at $0.53-$0.54. Nevertheless, many traders expect this price to skyrocket even further and there are some analysts who put XRP’s final point at $10-$15 by the end of this year!”
Transaction fees bode well for TRON
Unlike XRP and Bitcoin Cash, TRONs TRX has not entered a short bull run this week and thus, we haven’t seen TRX generate a significant amount of value, proving that good news doesn’t always mean high price!
Even so though, TRX has been the butt of many headlines this week, further enhancing the vision for this ever growing cryptocurrency. It has been revealed this week that TRON now regularly withstands more than 1 million transactions per day. One of the main problems of the Ethereum blockchain (the chain that TRON used to be built on) is scalability, Ethereum can only handle so much traffic at once.
One of the main reasons TRON migrated onto the TRON mainnet (it’s own blockchain) is that TRON wanted to address the scalability issues of Ethereum, TRON wants to be able to handle more daily transactions than any other blockchain, indeed, with recent news in mind it seems that TRON have finally made this dream a reality.
“With this new daily transactions throughput, it suggests that developers over at TRON will need to extend this trend for as long as possible. Unlike other projects, it seems that the network has room for more growth in the future. Transactions costs remain relatively low at an average of $0.02 whereas Bitcoin’s current fee is more to the $0.4 region whereas Ethereum’s fees sit at around $0.19.”
All in all, we have had a good week. Investors are feeling a little more optimistic and the next few weeks are starting to look a little more promising. Bitcoin Cash, XRP and TRON TRX move into the next week with a lot of positivity behind them, we can’t wait to see what happens next!
