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In the world of cryptocurrency, there are always ups and downs. But for some coins, the downturns can be much more severe than for others. Here, we take a look at two cryptos that have been down by 70% or more in recent months, but which could be poised for a rebound. So, if you’re looking to make some quick profits in the crypto world, these could be two coins to keep an eye on. Also check out Solflare.
The first coin on our list is Bitcoin SV (BSV), which was down by over 70% in 2019. However, BSV has started to show some signs of life in recent weeks, with its price rising by nearly 20% since the start of 2020. The coin’s recent price increases may be due to the upcoming halving event, which is set to take place in mid-May and could potentially lead to a surge in demand for BSV. For more information we suggest you check expert blogs about bitcoin trading and other currencies
Another coin that could be poised for a rebound is Ethereum Classic (ETC). ETC was one of the hardest-hit cryptos in 2019, with its price falling by over 80%. However, 2020 has been a much better year for ETC, with the coin’s price rising by nearly 60% since the start of the year. Ethereum Classic’s recent price increases may be due to positive news surrounding the coin, such as the launch of its new smart contract platform Phoenix.
Why are these two coins down by so much?
The main reason that these two coins are down by so much is that they are both new and not well-known. They don’t have the same level of recognition or trust as more established coins like Bitcoin or Ethereum. As a result, people are less likely to invest in them.
Another reason could be that their prices are more volatile than other coins. This means that they can go up or down in value very quickly, which makes people less likely to invest in them as well.
Finally, there may be simply less demand for these coins than for others. This could be because they don’t offer anything unique or because they’re not being heavily marketed. Whatever the reason, if there’s not enough demand for a coin, its price will go down.
What is the probability of a rise in value to previous prices?
It is no secret that the crypto industry has seen its fair share of ups and downs. However, many investors remain optimistic about the future of cryptocurrencies. One reason for this optimism is the belief that cryptos that have fallen in value will eventually rise back up to their previous prices.
A variety of factors can affect the price of a cryptocurrency, including global events, regulatory changes, and market speculation. That being said, some experts believe that certain cryptos are more likely to rebound than others. For example, Bitcoin – which is currently down by around 50% from its all-time high – is often seen as a safe investment due to its popularity and relatively stable price history.
So even if a particular crypto seems like a good bet for a rebound, there’s always a chance that it could continue to decline in value. Ultimately, it’s up to each investor to do their research and decide whether or not they want to take the risk on a particular coin.
There are a few reasons why these two cryptos, Bitcoin and Ethereum, maybe down by a percent or more. Firstly, the market has been bearish as of late and this has caused many assets, including cryptos, to fall in value. Secondly, there has been some negative news surrounding these two coins recently which may have caused investors to sell off their holdings. Finally, it could simply be that these coins are oversold at the moment and are due for a rebound.
In any case, if you’re looking to buy into either of these cryptos, now may be a good time to do so as they could be ripe for a recovery.
Conclusion
However, there are still some coins out there that have potential despite their recent losses. In this article, we’ve highlighted two cryptos that are down by 70% and could be ready to make a comeback. So if you’re looking for an opportunity to buy low and sell high, these two coins might be worth considering.
