Since bubbling and then crashing in December 2013, the Quark price spent most of 2014 continuing to decline.In September, the Quark price experienced a short rally, but the prolonged downtrend has reclaimed those gains. CCN examines this altcoin price decline to help investors make informed trading decisions.
The Quark price had a bad November
The Quark price has had an especially bad November. On November 1, the Quark price was 1,821 satoshis. The Quark price declined each of the following seven days. On November 2, the Quark price was 1,671 satoshis. By November 5, it had dropped another 112 satoshis to 1,559. The next day the price fell again to 1,452 satoshis.
But Quark’s troubles were not over. The Quark price continued to decline for the next four days. At press time, the Quark price was 1,339 satoshis.
Quark now has a ~$1.26 million market cap, ranking it 23rd on the market cap charts. Quark has a ~$59,000 edge on 24th-ranked Reddcoin.
Despite the prolonged price decline and the influx of new altcoins, Quark has managed to remain in the top 25 cryptocurrency market caps for the past few months. However, CoinGecko analysis indicates the coin could have more room to fall. CoinGecko’s comprehensive rating algorithm places Quark 27th among cryptocurrencies with a 41% rating. Since Quark’s market cap is currently four spots ahead of its CoinGecko ranking, it appears Quark’s market cap is outperforming the coin’s overall health. Unless something significant changes–which is unlikely–Quark investors should expect to see Quark’s market cap ranking continue to fall.
What do you think about the Quark price decline? Comment below!
Disclosure: The author formerly held Quark investments and served on a Quark-related project. He is no longer affiliated with Quark.
Images from Quark and Shutterstock