Anoncoin Price Yet to Recover from Dump

Journalist:
November 5, 2014

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 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.

The Anoncoin price has not recovered since developers announced Zerocoin implementation would be delayed. The current Anoncoin price is 88,808 satoshis. Chart from CoinGecko.

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.

What do you think? Comment below!

[divider]CCN[/divider]

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. Neither the author nor CCN is liable for your investing decisions, so do your homework and never invest more than you are willing to lose.

Images from Anoncoin & Shutterstock

Last modified (UTC): November 5, 2014 08:48

Tags: anoncoin
Josiah Wilmoth @Y3llowb1ackbird

Josiah is the US Editor at CCN, where he focuses on financial markets. He has written over 2,000 articles since joining CCN in 2014. His work has also been featured on ZeroHedge, Yahoo Finance, and Investing.com. He lives in rural Virginia. Follow him on Twitter @y3llowb1ackbird or email him directly at josiah.wilmoth(at)ccn.com.