As the majority of cryptocurrency markets remain subjected to bearish pressure at this time, it will be interesting to see who will buck the trend first. It seems unlikely DigiByte will be the coin to do so, as its value is tanking quite hard for some unknown reason. As the DigiByte price losses continue to pile up, there’s a chance DGB will drop below 300 Satoshi fairly soon.
DigiByte Price Momentum Grows Worrisome
Although altcoins will usually bleed value when Bitcoin turns bearish for quite some time, the current losses for DigiByte might not necessarily make the most sense either. Its losses are a lot steeper compared to nearly all other markets in the top 50, which will worry quite a few holders, speculators, and traders alike. For the time being, it remains to be seen what the future will hold for DGB, although one never knows how bearish or bullish things will get in the next few hours and days.
For the time being, the DigiByte price remains subjected to increasing bearish pressure. With a 14.4% loss in USD value and a 12.85% loss over Bitcoin, one DGB is now valued at $0.012268, or 311 Satoshi. Neither level is impressive by any means, although one would expect some of these losses to be negated fairly quickly. With just $1.3m in trading volume, however, that might not necessarily occur anytime soon. Traders have cooled off on DGB at this time, which is in line with other markets.
On social media, there is still some hype surrounding DigiByte at this time. Stephen Kendal, for example, is quite pleased about DGB being represented during Coin Fest UK. The next event will occur in Manchester next week. Without the help of Bullex, that showcase would not be possible, by the look of things. There is still a lot going on behind the scenes of DigiByte, even if the price seems to tell a different story.
Looking forward to seeing more new faces next week in Manchester.
— SK (@StephenPKendal) March 26, 2019
Other community members also do their part to spread the word about this altcoin and blockchain project. RedTekno shared a very interesting infographic highlighting all of the upsides to DigiByte. One would almost forget this currency has been around for over four years, which is something very few altcoins can achieve in this day and age. While DGB may have a lot of facets working in its favor these days, it seems Bitcoin will remain the dominant currency for quite some to come.
There is also some dismay regarding a recent tweet by Coinbase Custody. As Kyber Network was added to this platform, it seems a lot of DGB community members were disappointed DigiByte hasn’t been supported as of yet. While it is evident Coinbase Custody is going through the motions of supporting as many tokens, assets, and currencies as possible, they can’t work miracles either. For now, DGB enthusiasts will have to bide their time like everyone else.
— 𝕵yri 𝕹akamoto ♠️ (@DigiKahvi) March 26, 2019
When all of the top markets remain bearish for more than a few days on end, it is normal altcoins will start to retrace in quick succession. DigiByte is no exception in this regard, although things could still get a lot worse from here on out. That is not necessarily something to look forward to, as there is a genuine chance the DigiByte value will drop below 300 Satoshi if this trend continues for a few more days. Without any real improvement on the horizon, things are not looking too great for this project.
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.