China, who?
Litecoin prices jumped 6.54% on Monday as investors shimmied past the Chinese cryptocurrency ban. It’s as if they all suffered a bout of amnesia at the same time.
One moment, the Chinese ban was front-page Litecoin news. The next, it was consigned to the dustbin of history. Will this selective memory last? That is less certain.
The Litecoin to USD exchange rate broke above $50.00 to find a level at around $51.74. The beleaguered coin also rose 2.08% against Bitcoin, suggesting that crypto funds are unfurling towards.
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Daily Litecoin Price Forecast: LTC Rallies Back Above $50.00
Despite a mix of bullish and bearish Ethereum news, investors recanted some of their earlier pessimism on ETH, driving prices up 2.57% against the U.S. dollar.
That quote is the single biggest piece of Litecoin news this morning. It was written by Charlie Lee, who's famously connected within the crypto community and is also the creator of Litecoin.
Narrow spreads, low volatility, and relative calm. If someone asked you to name an asset class with those qualities, would your answer be cryptocurrencies? Absolutely not!
There's good news and bad news for Bitcoin (BTC) bulls today. The bad news is that BTC hasn't shown much in the way of gains over the past week. The good news is that it also hasn't shown much in the way of losses, either. And considering the wild swings that took place earlier in September, a little bit of stability isn't the end of the world.
Bitcoin appears to have levelled off, showing gains of about $200.00 so far this week, but showing no signs of a massive swing one way or the other. The stability is a welcome respite from the movement the market witnessed over September, where the China ICO block caused Bitcoin prices to plummet, only for the currency to rally the following week.
After a tumultuous week, investors are largely sitting on the sidelines, waiting for something to happen with Ripple prices. One juicy bit of Ripple news would likely spark a massive rally.
Hallelujah! After a week of non-stop pain, investors finally moved past China’s ban on cryptocurrency exchanges. They bid up prices, bet on fundamentals, and were rewarded with flashing green numbers on their trading monitors.