Darkcoin Price Returns to Mean After September Price Bubble

Journalist:
Josiah Wilmoth @Y3llowb1ackbird
October 8, 2014

In September, the Darkcoin price broke out of a slump and surged at an impressive rate. However, Darkcoin could not sustain that massive amount of investment capital, because the Darkcoin price climb turned into a price bubble that popped during the latter half of September.

But it appears the decline may be over and that Darkcoin is returning to its mean price level.

Also Read: Darkcoin 2.0 Open Source – Can Darkcoin get it’s mojo back?

Darkcoin Price Returns to Mean After September Price Bubble

During the early portion of September, the Darkcoin price hovered around 590,000 satoshis. On September 14, the Darkcoin price exploded, rising to ~714,000 satoshis over the next 48 hours. The Darkcoin price was not done climbing, however, because it continued to increase for the next two days, peaking at just under 912,000 satoshis on September 18.

Unfortunately, Darkcoin’s rapid climb was just a temporary bubble. After peaking on the 18th, the Darkcoin price sharply fell to about 750,000 satoshis on September 21. The price rebounded the next day but then resumed its decline, falling as far as 640,503 satoshis on October 1.

The Darkcoin price experienced a bubble in September. The current Darkcoin price is 696,169 satoshis. Chart from CoinGecko.

However, the Darkcoin price recovered a bit during the first week of October, indicating that it may be returning to the mean following the bubble. At press time, the Darkcoin price was 696,169 satoshis.

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Analysis

Darkcoin’s price and market cap pair well with its overall coin health. Darkcoin ranks seventh in coin market cap and eighth on CoinGecko’s comprehensive rating charts with a 53% rating. Darkcoin is still the safest investment among anonymity-based altcoins. Of course, Darkcoin is not just a privacy-centric altcoin, but anonymity is certainly its primary selling point. Altcoin traders should continue to view Darkcoin as a long-term hold.

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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. 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 Darkcoin and Shutterstock.

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.