The Month in Review: Crypto Markets Are Beginning to Stabilize
31st March will mark the end of the first quarter of 2019. After suffering through a brutal decline in 2018, it appears that the crypto markets are beginning to show signs of price stability. All the major cryptocurrencies generated a positive rate of return for the first quarter of 2019 (with the exception of Ripple). In terms of monthly performance, March was a very good month for the cryptocurrency universe. Of course, DGTX is also included in the list.
DGTX Performance in March
The DGTX token managed to generate an impressive rate of return for March, as well as for the first quarter of 2019. DGTX increased 75.8% in March.
For the first quarter, our native token enjoyed a nice gain of 29.9%. DGTX is well above its ICO price from January 2018, with a spectacular advance of 698%. Let’s take a look at the following tables.
Crypto Markets for Q1 2019
Has the Crypto Bear Market Ended?
From a psychological point of view, it’s certainly refreshing to see cryptocurrencies experience three months of steady/rising prices. It helps restore investor confidence that was lost during the brutal decline in 2018.
However, do three months of moderately bullish price behavior signify the end of the bear market in the crypto space? Unfortunately, the answer is, “no.” We need to see some type of price reversal from a technical standpoint in order to verify the end of the bear market in cryptocurrencies.
Bitcoin has been locked in a trading range over the course of the past four months. The range has been 3,158 to 4,440. Check out the chart below.
If BTC can generate a breakout above 4,440, this would mark a significant turning point in the crypto bear market. This would be the first sign that indeed, the bear market in cryptocurrencies has ended.
DGTX is Displaying Signs of Price Stability
A stable market is a very positive sign for the underlying asset. It represents maturity and customer confidence. Although DGTX has only been in existence for 15 months, the native
token has definitely shown signs of price stability during the past several weeks.
Despite the sharp decline in cryptocurrency prices in late-2018, DGTX managed to consistently stay above the 3-cent level. This is a sign of a token that has found solid investor support. Most likely, DGTX will gain additional price stability when Digitex Futures launches its exchange on 30th April.
DGTX Is No Longer in a Bear Market
As we discussed in a previous article, a very important price level for DGTX is .0679. Based on Fibonacci numbers, this price level represents a spot where momentum traders will enter the market and push prices to a higher level.
So far, this is precisely what has occurred with DGTX. The token was able to penetrate .0679 on 7th March. Almost immediately, a new round of buyers appeared on the scene and bid up the price to .0923 by 9th March. DGTX has managed to stay above .0679 on a closing basis each day since 7th March.
Although the cryptocurrency asset class is still in a bear market, the recent price behavior in DGTX would suggest that the bear market has ended for the Digitex token. Of course, the bear market could easily return. However, at least for now, the bulls are firmly in control of DGTX!
DGTX has been one of the top performing tokens since its ICO in January 2018. Why? Because Digitex has an amazing team of software, marketing, technology, traders, and community management. Even more importantly, Digitex is offering one of the most unique and revolutionary products in the futures industry.
The company is leading the way forward by incorporating new innovative technologies into an “old school” industry that has experienced very little change during the past century.
As Digitex approaches its official launch date on 30th April, there’s a great deal of excitement in the air concerning the upside potential in Digitex as well as the DGTX token.
Full Disclosure: I own DGTX.
Digitex Futures writers and/or guest authors may or may not have a vested interest in the Digitex Futures project and/or other businesses mentioned throughout the site. None of the content on Digitex Futures is investment advice nor is it a replacement for advice from a certified financial planner.