Today is not necessarily a good day for cryptocurrencies, tokens, and assets, although one never knows what the future will bring exactly. While some markets successfully keep losses to a bare minimum, the Digitex Futures price is not necessarily putting up much of a fight. That comes as somewhat of a surprise, although it remains to be seen how things will evolve exactly.
Digitex Futures Price Drops Below $0.12
Fans of Digitex Futures will not be pleased with the way things are going right now. As this market noticed some pretty strong gains in recent weeks, many users expected the uptrend to continue for some time. However, that is not necessarily the case, as it now seems the price is retracing rather quickly. Most of the recent gains have been wiped out once again, yet it remains to be seen if another uptrend will materialize in the near future.
More specifically, the Digitex Futures price has dropped to $0.118235 after another 6.82% decline. There are also losses in both BTC and ETH value, which will not come as too big of a surprise to most people. The bigger question is whether or not things can turn around for this altcoin even if Bitcoin remains in bearish territory. Right now, that seems rather unlikely, although altcoins usually tend to evolve in mysterious ways first and foremost.
There are some pretty big developments taking place behind the scenes which would warrant a new uptrend in the near future. First of all, the team will be attending Paris Blockchain Week, which kicks off today. There will be a spotlight on DGTX in many different ways, albeit it remains unclear if this can have any effect on the price, either for better or worse. Attending events like these will help the DGTX branding effort, though, thus it is always worth exploring.
The bigger news of this month is the impending launch of the Digitex Futures exchange platform on April 30th. This platform will operate under a zero-fee structure, which is always interesting to keep an eye on. Native exchanges for specific currencies are always a bit hit-and-miss. Some people see it as a way to inflate prices, whereas others see the benefit of additional trading liquidity. Only time will tell if this platform is beneficial in the end.
MoondoggerMcKenzie is one of the – seemingly many? – traders who effectively sold a stack of Digitex Futures ahead of this dump. It is evident the most recent uptrend generated some pretty big profits for traders, but one has to keep in mind the long-term holders in the altcoin industry are hard to come by. For DGTX, the low trading volume makes it easier for dumps like these to influence the price in a negative manner.
The salt is real. I just dumped a bunch of #DGTX during the last week. Feels good to make those stacks man.
— MoondoggerMcKenzie (@frothdonkey) April 16, 2019
When looking at the bigger picture, it seems unlikely there will be any market reversal for altcoins, tokens, and assets until Bitcoin itself moves in the green again. When that will happen exactly, is anybody’s guess, as the world’s leading cryptocurrency has not shown any signs of doing just that. As such, Digitex Futures holders will need to bide their time and hope for things to improve in the very near future. Without more trading volume, it seems unlikely any major changes will occur, either for better or worse.
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.