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Verge (XVG) was going on a nice bullish trend, the price was gaining ever-increasing levels and delivering handsome profits to investors. But everything that seemed to be shiny collapsed. As Max Gunther says in the book "the axioms of zurich": "we must buy before the final notice and sell after the release of the news in the market". Anyone who is a keen and market-savvy investor has followed the saying given by Max Gunther in his book.
Come on, you must be asking yourself, "Why did prices have such a big drop after the news? Was the news so bad? "I'm here to answer this, prices have had a massive decline since the release of the news, this went by the following factor, people were creating a lot of expectation around the news, the uncertainties around who would be the partner company of Verge made its prices rise sharply before the news. With this, after the launch of the news, the investors were taken by even greater feelings, some for not knowing if the partnership was good and others for not knowing the decisions of the other investors, all this led many investors to discard their positions. So, taking the price down the stairs, the bears pressed the bulls hard enough and got to where we are.
But we must beware of the following fact, in a few days that feeling will be stopped and Verge must grow again again. Another news item that will contribute to the increase in Verge is the listing of the XVG / USD pair in Binance. That's right, Verge can be traded with fiduciary money and more, initially only Verge and Ripple will be listed with the USD option, this will lead to the increase in volume and hence the price of both. Bittrex is another Exchange that is close to adopting the fiduciary currency to make transactions.