Will a Verge Hardfork Push the Privacy Coin to Past Highs?

Reported today on Being Crypto

For the full article visit: https://beincrypto.com/will-a-verge-hardfork-push-the-privacy-coin-to-past-highs/

The Verge (XVG) price initiated an upward move on November 14. It has been consolidating since – trading in a range between 47 and 65 satoshis. A breakout would likely take it near 100 satoshis.

Verge made the announcement that a hard fork will occur on block 3,700,000, falling sometime in mid-December. The fork will implement a new mining schedule. allowing XVG to maintain a healthy protocol and keep miners profitable. Since it affects the supply distribution, it is possible that this will affect the XVG price.

The much anticipated #update to the #Verge #blockchain is here. $XVG will have a #hardfork to implement the new mining schedule. Be sure to update your #wallets. Meanwhile paper wallets don’t need to be changed.https://t.co/1e67bzv3MW#vergecurrency #news #P2P pic.twitter.com/bQmxHvqcZQ

– VergeCurrency (@vergecurrency) November 16, 2019

Verge was one of the biggest riser in the 2017 bull market but has been decreasing massively since.

Trader and market analyst @bitcoinjack noted the current XVG price in relation to its massive 2017 pump, in which the XVG price went from around 53 to 2000 satoshis in a matter of weeks – for a roughly 37x increase.

The memories of Verge

I spent about 3 BTC on this in 2017 at 53 SAT and sold for 90 SAT to see it move to 2000 SAT in a matter of days after that

What rockets did you miss in 2017 by selling early? pic.twitter.com/svCrAnDwJO

– //Bitcoin ?ack (@BTC_JackSparrow) December 2, 2019

The price has decreased rapidly since, losing about 97 percent of its value when looking at the BTC pair.

Possible Bottom for Verge

The XVG price made a low of 33 satoshis at the beginning of August. This was combined with the lowest weekly RSI value ever recorded at 25. This is often a sign that the market cycle may be near a bottom.

Aft

Will a Verge Hardfork Push the Privacy Coin to Past Highs?

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Kane Dane