Are TRX Prices Dumping Because “Changpeng Zhao and Justin Sun are Scheming”?

Tron prices slide, drop 9.7 percent in last week
Binance receives a 2-Star Ratings at Trust Pilot
Transactional volumes low, averages at 12 million

Bitcoin Plunges Back Down to $9,600 After Rising Above $12,000
Thursday August 15, 2019

Last week, a spike in the Bitcoin price pushed it past the $12,000 mark. At the same time, Bitcoin dominance continues to squeeze the rest of the market, closing in on 70%. The highest...

The post Bitcoin Plunges Back Down to $9,600 After Rising Above $12,000 appeared first on 12bitplay - Bitcoin Play.

BitTorrent, Tron, and Binance are in recent days synonymous. It is because of this that a user thinks Binance and Tron are colluding to defraud users. They are entitled to their opinion, but TRX prices are dropping, down 9.7 percent in the last week.
Tron Price Analysis
Fundamentals
Hours after a successful BitTorrent (BTT) airdrop and TRX prices are sinking. Well, this was not in the script and against everything expected by traders. Although BitTorrent and the Tron Foundations will be distributing 10.1 percent of the 990 billion BTT tokens in six years through airdrops, BTT prices should be readjusting to the extra demand by shrinking while the need for valuable BTT tokens should automatically pump TRX prices.
It is logical, but that is unfortunately not the case. For the second straight day, TRX prices have been dropping and risk reversing gains of late and early this month. TRX inability to pump also coincides with new accusations that Binance and Tron are a letdown when important matters are in play. Case in point is the latest BTT ICO. During this time, keen-eyed would be investors noticed that Binance Launchpad did sell 28.44 percent of all the tokens before the official start.
In a medium post, he claims excuses from Binance and Tron was a complete betrayal while “CZ and Justin Sun whose permanent smile in the profile picture” looks like a mockery to those investors who missed out.  He adds that “Binance is quite a young company and its decency is yet to be confirmed by history.” Binance now has a 2-star rating at Trust Pilot.
Candlestick Arrangements

Falling Renminbi Serious Use Case for Bitcoin: DBS Chief Economist
Wednesday August 14, 2019

A weakening Chinese Yuan (Renminbi) is helping to fuel the bullish sentiment of bitcoin, according to Taimur Baig of DBS’ Singapore unit. The chief economist told Financial Times that the recent run-up in the...

The post Falling Renminbi Serious Use Case for Bitcoin: DBS Chief Economist appeared first on 12bitplay - Bitcoin Play.

Meanwhile, TRX is dropping like a stone. After a BTT induced pump, TRX is finally finding fair value. Even though we are bullish on TRX expecting prices to rally above 3.1 cents and later 4 cents as users demand for TRX in preparation for free BTTs, any drop below the double bottoms of Jan 20-21 could see prices sink towards 2.1 cents as our previous TRX/USD trade plans are rendered invalid. While aggressive traders can buy on pullbacks in lower time frames as prices correct towards the 2.1—2.4 cents zone, the best course of action is to wait for a full breakout above 3.1 cents as emphasized before.
Technical Indicators
Recent averages stand at around 12 million. That is low and pales in comparison with those of Feb 4—42 million versus 17 million. Since we are bullish, TRX prices must first print and close above 3.1 cents of Jan 27 highs complete with above average volumes above 12 million and even 42 million. Such expansion will signal buyers ushering in bulls aiming for 4 cents and higher.
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Ethereum Price (ETH) Resumes Decline, Bears Eye Fresh Lows
Tuesday August 13, 2019

ETH price failed to surpass the key $215 resistance area and declined again against the US Dollar. Ethereum price is now trading below the $214 level with a bearish angle. Yesterday’s highlighted key ascending...

The post Ethereum Price (ETH) Resumes Decline, Bears Eye Fresh Lows appeared first on 12bitplay - Bitcoin Play.

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