Anoncoin Price Yet to Recover from Dump
Anoncoin hopes to use Zerocoin to allow for more anonymous transactions.
The Anoncoin price crashed in late October when developers suddenly announced one of the coin’s key features had been delayed for several months. The Anoncoin price has failed to recover since the following dump. CCN.com analyzes the Anoncoin price to help investors make informed trading decisions.
Also Read: Interview: Anoncoin Developer Speaks on Zerocoin Implementation
Anoncoin Price Yet to Recover from Dump
The Anoncoin price burst out of the shadows during early October ahead of the expected release of Anoncoin’s key anonymity feature, “Zerocoin.” On October 9, the Anoncoin price peaked at 356,486 satoshis. After developers announced the delay, the Anoncoin price fell an astounding 81% from its mark the previous week.
The Anoncoin price has inclined slightly since the dump, but nevertheless it has not changed significantly. At press time, the Anoncoin price was 88,808 satoshis.
Anoncoin now has a market cap of ~$360,000, which ranks it 51st on the market cap charts .
Analysis
Many altcoins have burned investors in the past, so communities have reason to worry when developers announce unexpected delays. Sometimes those fears prove unfounded, but sometimes they do not. If investors believe Zerocoin will reach its full release, now would seem to be a good time to invest in Anoncoin. Although Anoncoin still experiences price swings, its value has stabilized over the past couple weeks. Nevertheless, potential investors should continue to view it as a high-risk, cautious investment.
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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 Anoncoin & Shutterstock
