XCurrency Price Up 20% This Week: Is Recovery in Sight?
XCurrency is an altcoin with a focus on user anonymity. After rising quite a bit during mid-2014, the XCurrency price has been locked in a prolonged decline. However, the XCurrency price has risen 20% this week. Is this the start of a recovery?
Also read: Nxttycoin Price Plummets As Encrypted Messaging App Fails to Catch On
XCurrency Price Up 20% This Week
The XCurrency price rose 20% this week after enduring a multi-month decline. The XCurrency price began the week at 31,219 satoshis. The downward skid continued until November 28, when the XCurrency price hit 30,314 satoshis. But then the XCurrency price began to rise.
From November 28-30, the XCurrency price rose 14% to 34,648 satoshis. The price continued to incline the next two days, albeit at a lower pace. At press time, the XCurrency price was 36,093 satoshis.
However, investors should note that while the XCurrency price has risen, liquidity has remained extremely low. In the past 24 hours, less than 1 BTC worth of XC have traded on exchanges.
Is Recovery in Sight?
The XCurrency price has been in decline for the past several months, so this price increase is a welcome change for investors. But will it last? XCurrency stacks up well against the other major privacy-centric altcoins (which include Darkcoin, ShadowCash, and Anoncoin, among others) due to its many proposed innovations, which include the XChat Tor Stick (which XCurrency will begin distributing soon) the Blocknet, and the Xmixer. Investors will have to judge for themselves whether XCurrency is a sound investment. If so, now could be a good time to pick up XC at a relative discount.
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Disclosure: The author is paid in and holds investments in bitcoin. He is not invested in or affiliated with any of the altcoins discussed in this article. Any advice contained in this article is solely the opinion of the author and does not reflect the views of CCN.com. Neither the author nor CCN.com is liable for your investing decisions, so do your homework and never invest more than you are willing to lose.
Images from XCurrency and Shutterstock
