"Large" Partnership (Paypal? Stripe?) Imminent For Verge, +85% This Week
Repeat after me - Gaps get filled, divergences get resolved.
In the past, I've written on Verge Coin (XVG) and how privacy advocates generally agree it has some technical problems. As far as I know, these have not been resolved, although a recent hard fork approximately 1 week ago today did update transaction validation in a way that resolved some related bugs. Active development continues and Verge is one of the older and more established coins around. It's probably not going anywhere soon.
The rumor mill has it that Verge will be making a "big" announcement about a "large" partnership on April 18th, just in time for the end of the US-tax-payment blues. Speculations are wide-ranging, and at the upvote-only Verge subreddit include both Paypal and Stripe as lead contenders. Obviously, either of these would be a large boon to the currency and would explain the recent strength as inside players position themselves for the public announcement (remember, again: buy the rumor, sell the news.) Others are guessing that the same-day announcement for Flipkart (an Indian shopping portal) is related.
Nevertheless, I am likely to use this recent strength (and any going into the announcement next week) to unload some of my stockpile. It's tough to argue that this is an imprudent move, given Verge has already retraced the majority of the way back to recent highs during "Crypto-Mania December, 2017" despite a Bitcoin price almost "2.5x less" than at that time.
This looks like precisely the adjustment in Bitcoin ratio I was looking for to lighten my Verge load. If, like me, you had this on your list of coins to reduce your holding of, now could be the time.
Gaps get filled. Divergences get resolved.
As always, the longer the time-frame on the chart you use, the more accurate your predictions will be in the long term. I took a look at the full pricing history on Verge, and though I truncated it to the last year on the below chart, I can confirm that yes - this is a record divergence, in absolute size, and is only potentially rivaled on a percentage basis by the May-July 2017 spike visible below:
Disclaimer: This is not financial advice. I am not a financial adviser.
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Sources: Google, Cryptowatch, CoinmarketCap, Bittrex, Reddit - https://www.reddit.com/r/vergecurrency/comments/8bsjzw/10am_est_41718_announcement/
Copyright: SmartSteem, PALNet, SPL, Cryptowatch, CoinmarketCap, Bittrex, SunnyDecree(image splash with ludicrous prediction)