Verge (XVG) was among the worst hit by the bearish trend that was experienced at the beginning of 2018 after a very promising hike of prices towards the end of 2017. Most crypto coins witnessed their best prices during the “hike” which took place during the better part of December 2017.
Traders who had their trades at that time really reaped big. Although that is if they closed their orders immediately they realized the onset of the bearish trend towards the end of December or the beginning of January. For those who did not close their trades, regret is now “killing” them since the prices of most cryptocurrencies have really depreciated eroding the profits that had been made during the price hike.
The Verge (XVG) was not spared either! Actually, it has had the worst decline and its value now seems to be struggling to get back on track again. Currently, a single XVG is going for $0.050342 USD.
Going by the fact that the coin had registered a price of more than $0.28 USD on 23rd December 2017, it shows that the coin has depreciated by around 82% to date.
Any hopes of going back above $0.2 USD?
Since 8th February, the XVG prices have really tried to regain their strength. The lowest price that the Verge (XVG) hit, was $0.035707 USD and it was on 8th Feb. Since then, the coin has made a 40% appreciation.
However, the forty percent increase in value looks like a “drop” in the ocean. Looking at the chart below, you will realize that the price is still too far away from its previous prices in December last year.
Currently, $0.2 USD may seem like a fairy tale or a dream. If the prices are to rise with the same pace, we expect the coin to take around 8 months to get back to $0.2. This is considering that it has only risen by about $0.02 over a period of one month.
This Q1 of 2018 was the one that investors had lots of hopes in due to the many Verge (XVG) that had been scheduled to take place within before it came to a close. But at the moment, most of the announcements and releases that were to take place within the Q1 have already taken place and the Q1 is almost coming to an end. And with all that, the coin seems to be unmoved!
Unless we bank on the robustness of the Verge (XVG) blockchain network of the crypto coin and hope that the effect of the releases of the Q1 will be felt later, there is nothing else showing that the coin will hit the $0.2 very soon. Although, if you are patient, you can wait for the 8 months!