From a look at the
This is a signal that there is still room before it gets into oversold territory. If this pattern holds up, Digibyte (DGB) could potentially test $0.0076, which could be support in the day. If it breaches it, then Digibyte (DGB) could enter into a sustained bear run, and possibly test lows below $0.007. This is in line with the sustained bearish trend in the entire market.
However, in spite of this bearish sentiment, Digibyte (DGB)’s long-term prospects look good. Digibyte is one of the few cryptos that have remained true to the ideals of decentralization, as envisioned by Satoshi Nakamoto. But Digibyte (DGB)’s adherence to decentralization is not just about idealism, it will also help Digibyte (DGB) survive the bear market no matter how long it lasts. That’s because, it is a community-driven project, which means that there is no central organization that runs the risk of running out of money, due to a sustained bear market. This ability to survive a prolonged bear market will create the foundation for Digibyte (DGB)’s use cases to be revealed, and they are many.
One of them is in cybersecurity. Digibyte (DGB) is one of the most secure blockchains in the market. Some Digibyte-based solutions such as Digi-ID have the potential to transform how websites are secured. Digi-ID could have uses that reach as far as online banking, in secure customer authentication. However, for the potential of Digi-ID to be fully revealed and adopted, it will take time. Luckily, Digibyte (DGB) isn’t going anywhere, no matter how long the bear market sustains. This makes it a high potential cryptocurrency as blockchain becomes a more mainstream technology.
The other key use case to Digibyte (DGB) that will be more appreciated with time is in payments. Though payments is not Digibyte (DGB)’s core market, it is still an important one. Digibyte (DGB) is one of the most efficient cryptocurrencies for value transfer. It is fast, low cost, and secure. Digibyte (DGB) also makes use of a technology called Digispeed, which will allow it to match Visa transaction levels in the future. Considering that scalability is the biggest hindrance to the mass adoption of blockchain technology, this could play a major role in pushing up the adoption rates of Digibyte (DGB) in the future.
With all these fundamentals supporting Digibyte (DGB), chances are that its future value growth potential is great, irrespective of its short-term price fluctuations. The future of blockchain technology is bright, and by extension, the future of Digibyte (DGB) is bright too. It is one of the few cryptos that have stayed true to what blockchain is all about, and this will pay off in the long-run. Bear markets don’t last forever, and ultimately, Digibyte’s true value will be revealed.