Bitcoin (BTC)

Yesterday, the price of Bitcoin crashed by over 40%, following the emerging global market crisis. Before this fatal plunge, Bitcoin showed signs of weakness consolidating around the $8000 mark for three days.

Meanwhile, this whole bearish scenario started from a mid-February high of $10,500, which was later confirmed by a bearish head-and-shoulds pattern, which played out around $8500 last week.

Unfortunately for Bitcoin, the price has not just dropped to a 4-month low but now trading again inside a long-term descending channel that was formed in June 2019. Though, Bitcoin has managed to recover from the channels lower support of $4000 and surged to $5800 today. Bitcoin is trading above $5000 at the moment.

If the price remains trapped inside this descending channel, it would be difficult for Bitcoin to regain momentum until a break up takes place. And if Bitcoin breaks beneath $4,000, the market may collapse to $3600 (yesterdays low) and then to $3200, which is December 2018 low.

From $235 weekly opening, Ethereum had lost over 80% of its value to reach a daily low of $86. After dropping near the channels support, ETH saw a quick 60% recovery to a critical resistance area of $140, marked grey on the daily chart. As of now, Ethereum is trading around $120 against the US Dollar.

If Ethereum can spike above the channel, and most importantly, the grey resistance area, we can start to consider some bullish action. Otherwise, Ethereum would stay and continue to struggle in the channel boundary.

Against Bitcoin, Ethereum saw a massive price movement to the downside but found support around the $0.021 BTC level yesterday, followed by a 2-month rising support line (white). Despite the drops, the market has bounced back following 3.5% gains.

It appeared that the bulls are showing commitment at the moment. If they can push further, the price of ETH could touch 0.025 BTC resistance level in the next few days. More so, Ethereum may initiate a new rally, in case the buyers reclaim the 0.028 BTC level. Notwithstanding, the market is still looking bearish on a mid-term. If the bears resume pressure below this white line, 0.018 BTC would be the next selling target beyond 0.02.

This week, Ripple continued to lose momentum following a bearish correction that started a few weeks back. Today, the XRP/USD pair reached a 9-month low of $0.11 after witnessing a consistent four weeks decline from $0.335 resistance, from where Ripple initiated sell last month.

As we can see on the daily chart, Ripple is currently supported by a blue long-term support line. Following a small recovery, XRP is now trading at $0.148 level. If volume increases, Ripple might retest $0.2 on the upside. However, the price may slip back to $0.11 if the sellers continue to show interest.

Against Bitcoin, Ripple increased by 5% over the past 24-hours. The market is now showing strength after finding weekly support around 2400 SAT levels. Following a sharp rejection from a psychological level of 3000 SAT, Ripple has now dropped to support level at 2820 SAT.

If the buyers can push above the first white resistance line of 3075, we can expect XRP price to reclaim the second level of 3321 SAT. On the downside, the 2600 SAT and 2400 SAT levels should be on the watch in case the price falls back.

Following the head-and-shoulders pattern, Litecoin saw a massive drop over the past few days, losing more than 50% of its value this month. After breaking down December 2019 low, yesterday, LTC dropped to long-term support of $24, marked green on the daily chart.

LTC has bounced back to retest the key resistance area $40, marked blue on the chart, but failed to break. Followed the rejection, Litecoin is now trading at $34. A break above $40 would allow a further increase to $50 and above. If Litecoin drops, however, the green lines may act as support one more time.

After creating a double-top around 0.0080 BTC mark, Litcoin saw a huge drop and rolled back inside the descending channel boundary, which was carved since August 2019. Meanwhile, Litecoin has recently established support around 0.006 BTC level against Bitcoin.

Followed by a small bounce, Litecoin is now facing resistance at 0.067 BTC level. If LTC can break above this channels resistance to retake the $0.0070 BTC level, the next target for buyers would be 0.008 BTC resistance level. Inversely, Litecoin may floor back to the blue support zone if price rejects at the current level. The channels support (0.0050 BTC) might become the next selling target if Litecoin drops further.

Tezos is extremely oversold on the daily chart. After a quick recovery from a daily low ($1.1), we can see that the price is now trading at $1.57, still below a crucial resistance level of $1.8, as can be seen in orange on the daily chart. Though, Tezos attempted to regain momentum above this resistance but failed to do so.

If XTZ can manage to close significantly above $1.8 this week, especially above $2 resistance, we can anticipate a bullish price action to $2.5 and $3 in the coming days. If not, we may consider more bearish reactions to occur. In case of this, the $1.1 may be revisited or even $0.5 if it breaks.

Against Bitcoin, Tezos is currently relying on the 0.00025 BTC support level. Theres still support on the red rising trend line in case Tezos drops beneath this orange area on the daily chart. With 2.32% losses over the past hours, Tezos is currently priced at 0.002989 level.

At the time of writing, the bulls are reacting to price actions, although Tezos is still looking bearish. If the buyers increase pressure, we can watch out for the next resistance to be 0.00035 BTC and perhaps 0.00040 level (near the all-time high). A sell action could drop XTZ back to 0.00025 BTC support. Support below this level lies 0.00020 BTC, right under the 5-month red rising line.

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Crypto Price Analysis & Overview March 13: Bitcoin, Ethereum, Ripple, Litecoin, and Tezos - CryptoPotato

Litecoin

Litecoin fell by 1.13% on Monday. Following on from a 15.51% tumble on Sunday, Litecoin ended the day at $50.53.

A mixed start to the day saw Litecoin rise to an early morning intraday high $52.51 before hitting reverse.

Falling short of the first major resistance level at $57.63, Litecoin fell to a mid-afternoon intraday low $46.61.

Litecoin fell through the first major support level at $47.58 before recovering to $50 levels.

At the time of writing, Litecoin was down by 0.22% to $50.42. A mixed start to the day saw Litecoin fall to an early morning low $50.00 before striking a high $50.94.

Litecoin left the major support and resistance levels untested early on.

Litecoin would need to move through the morning high $50.94 to support a run the first major resistance level at $53.16.

Support from the broader market would be needed, however, for Litecoin to break out from this Mondays high $52.51.

Barring an extended crypto rally, resistance at $52 would likely leave Litecoin short of the first major resistance level.

Failure to move through the morning high could see Litecoin fall deeper into the red.

A fall back through to sub-$50 levels would bring the first major support level at $47.26 into play.

Barring another extended crypto sell-off, however, Litecoin should steer clear of sub-$45 support levels.

Major Support Level: $47.26

Major Resistance Level: $53.16

23.6% FIB Retracement Level: $62

38.2% FIB Retracement Level: $78

62% FIB Retracement Level: $104

Stellars Lumen rallied by 4.73% on Monday. Partially reversing a 15.07% tumble from Sunday, Stellars Lumen ended the day at $0.052386.

A choppy start to the day saw Stellars Lumen fall to a mid-morning low $0.048576 before finding support.

Steering clear of the first major support level at $0.04679, Stellars Lumen struck a late morning high $0.052246.

Falling well short of the first major resistance level at $0.05564, Stellars Lumen slid to a mid-afternoon intraday low $0.047837.

Steering clear of the first major support level at $0.04679, Stellars Lumen struck a final hour intraday high $0.052386. While wrapping up the day at $0.052 levels, Stellars Lumen fell short of the first major resistance level at $0.05564.

At the time of writing, Stellars Lumen was down by 0.36% to $0.05220. A mixed start to the day saw Stellars Lumen fall to an early morning low $0.051944 before striking a high $0.052423.

Stellars Lumen left the major support and resistance levels untested early on.

Story continues

Stellars Lumen would need to move through to 0.05240 levels to support a run at the first major resistance level to $0.05390.

Support from the broader market would be needed, however, for Stellars Lumen to break out from Mondays high $0.052386.

Barring a broad-based crypto rebound, resistance at $0.052 would likely limit any upside on the day.

Failure to move through to $0.05240 levels could see Stellars Lumen fall deeper into the red

A fall back through the morning low $0.051944 to sub-$0.051 levels would bring the first major support level at $0.04935 into play.

Barring a broad-based crypto sell-off, however, Stellars Lumen should steer clear of sub-$0.048 support levels.

Major Support Level: $0.04935

Major Resistance Level: $0.05390

23.6% FIB Retracement Level: $0.1051

38% FIB Retracement Level: $0.1433

62% FIB Retracement Level: $0.2050

Trons TRX rose by 2.97% on Monday. Partially reversing a 13.74% tumble from Sunday, Trons TRX ended the day at $0.015136.

A mixed start to the day saw Trons TRX fall to a mid-morning low $0.014280 before making a move.

Steering clear of the major support levels, Trons TRX struck a late morning intraday high $0.015350.

Falling short of the first major resistance level at $0.01627, Trons TRX fell back to a mid-afternoon intraday low $0.014097.

Steering clear of the first major support level at $0.01385, Trons TRX bounced back to wrap up the day at $0.0150 levels.

At the time of writing, Trons TRX was down by 0.54% to $0.015054. A mixed start to the day saw Trons TRX fall to an early morning low $0.014956 before striking a high $0.015169.

Trons TRX left the major support and resistance levels untested early on.

Trons TRX would need to move through to $0.01520 levels to support another run at the first major resistance level at $0.01563.

Support from the broader market would be needed, however, for Trons TRX to break out from the Mondays high $0.015350.

Barring an extended crypto rally, the first major resistance at $0.01563 would likely cap any upside on the day.

Failure to move through to $0.01520 levels could see Trons TRX fall deeper into the red.

A fall back through the morning low to sub-$0.01490 levels would bring the first major support level at $0.01437 into play.

Barring an extended crypto sell-off, however, Trons TRX should steer sub-$0.014 levels on the day.

Major Support Level: $0.01437

Major Resistance Level: $0.01563

23.6% FIB Retracement Level: $0.0322

38.2% FIB Retracement Level: $0.0452

62% FIB Retracement Level: $0.0663

Please let us know what you think in the comments below

Thanks, Bob

This article was originally posted on FX Empire

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Litecoin, Stellars Lumen, and Trons TRX Daily Analysis 10/03/20 - Yahoo Finance

Bitcoin and cryptocurrency priceshave fallen sharply over the last few days,with around $50 billion wiped from crypto markets.

[Updated: 07:32am EST 03/12/2020] The bitcoin price, which had been trading around $10,000 per bitcoin just last week, is now down almost 30% over the last seven days after suddenly plummeting this morning and wiping out all its 2020 gains. Bitcoin earlier collapsed to under $6,000 per bitcoin, sending many other major cryptocurrencies, including ethereum, Ripples XRP, bitcoin cash, and litecoin, even lower. Read the full story here.

Bitcoin's sudden sell-off was put down to global market turmoil sparked by oil cartel Opec's failure to agree to a supply cut, sending the oil price to historic lows, but some think bitcoin's move lower could have its origins elsewhere.

The bitcoin price had climbed through the first few months of 2020 but the recent falls erased ... [+] almost all it year-to-date gains.

"The sudden drop in prices seems to arise out of the selling of [bitcoin] by PlusToken," the chief executive of India-based cryptocurrency exchange CoinSwitch.co, Ashish Singhal, told bitcoin and crypto industry news site CoinDesk.

PlusToken, a Ponzi scheme that swept China and Korea over the last few years, saw around $2 billion worth of bitcoin and other cryptocurrencies stolen from investors.

Last Saturday, ahead of the traditional market rout caused by Opec, PlusToken scammers moved a little over $100 million worth of bitcoin to so-called mixers, designed to disguise the origin and destination of the coins.

The fraudsters may have then sold off the bitcoins, causing prices to fall as supply flooded the market, according to Singhal.

The bitcoin price fell by almost $1,000 per bitcoin on Saturday, before stock markets and other assets crashed.

"PlusToken scam moved another 13,000 bitcoin's yesterday," bitcoin and cryptocurrency analyst Kevin Svenson said via Twitter on Sunday.

"They also did something similar after bitcoin crossed above $10,000 this year. They are slamming the market with sell orders. Essentially we have a giant whale unloading after every move up."

Bitcoin has been battling against falling trading volumes and stalled adoption in recent months (though that's not stopped some from betting big on the number one cryptocurrency).

When trading volumes are low the market is more susceptible to manipulation by big traders.

The bitcoin price has lost around 20% over the last month, all but destroying the narrative that ... [+] bitcoin had begun performing as a so-called safe-haven asset.

Many have taken the latest fall in the bitcoin price as proof it is failing to act as a so-called safe-havenan idea that had gained popularity in recent months as bitcoin rose in the face of escalating U.S. and Iran tensions and then apparently gaining on fears the coronavirus could knock global trade.

Traditional safe-haven assets, such as gold and the Japanese yen, usually move higher in times of greater risk and uncertainty.

"Bitcoin is down 8% in the last day, much more than global equities," economist and outspoken bitcoin critic, Nouriel Roubini, said on Sunday night viaTwitter.

"Another proof that bitcoin is not a good hedge versus risky assets in risk-off episodes. It actually falls more than risky assets during risk-off."

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[Updated] The Real Reason Behind Bitcoin And Cryptos Massive $50 Billion Crash? - Forbes

Litecoin is looking bearish again and the price is trading another 5% lower on Wednesday. This comes after a heavy fall over the weekend. Looking at the prices now it's hard to see any support levels close by. This led me to look further back to see if there was any meaningful support zones in the past that could be used in the nearer term.

The chart has been another but lower high and lower low waves as the pair remains in a technical downtrend. The levels in the chart below have been picked out from the time between December 2019 and January 2020.

The first major support level is in blue and its at 46.00. This level was used in early December at the consolidation high. It was used on multiple occasions to good effect and might act as a decent support this time around. The black line was a

Read the rest here:

Litecoin Price Analysis: Where are the support levels? Maybe 46.00 will work - FXStreet

For the day ahead

Stellars Lumen would need to move back through to $0.03850 levels to support a run at the first major resistance level to $0.04015.

Support from the broader market would be needed, however, for Stellars Lumen to break back through the first major support level at $0.03640.

Barring a broad-based crypto rebound, resistance at $0.038 would likely leave Stellars Lumen short the first major resistance level.

Failure to move through to $0.03850 levels could see Stellars Lumen fall deeper into the red.

A fall back through the second major support level at $0.03475 would bring the third major support level at $0.031 into play.

Barring an extended crypto sell-off, however, Stellars Lumen should steer clear of sub-$0.030 support levels.

Major Support Level: $0.03640

Major Resistance Level: $0.04015

23.6% FIB Retracement Level: $0.1051

38% FIB Retracement Level: $0.1433

62% FIB Retracement Level: $0.2050

Trons TRX rallied by 5.61% on Sunday. Reversing a 4.25% slide from Saturday, Trons TRX ended the week down 29.95% at $0.010297.

A mixed start to the day saw Trons TRX rise from an early morning intraday low $0.0097 to a mid-day high $0.010537.

Steering clear of the major support levels, Trons TRX broke through the first major resistance level at $0.01034.

In the early afternoon, Trons TRX rallied from a low $0.010004 to a late intraday high $0.011173.

Trons TRX broke through the first major resistance level at $0.01034 and the second major resistance level at $0.01087.

A late pullback, however, saw Trons TRX fall back through the major resistance levels to wrap up the week at $0.1020 levels.

At the time of writing, Trons TRX was down by 6.80% to $0.009596. A bearish start to the day saw Trons TRX fall from an early morning high $0.010361 to a low $0.009347.

Steering clear of the major resistance levels, Trons TRX fell through the first major support level at $0.00961 early on.

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Litecoin, Stellar's Lumen, and Tron's TRX - Daily Analysis 16/03/20 - FX Empire

The past 3-4 sessions saw a significant drop in bitcoin price from well above USD 8,000 to well below USD 5,000. BTC/USD lost more than 50% and even tested the USD 4,000 area. The price is currently (09:00 UTC) recovering above USD 5,000, but there are many resistances waiting on the upside.

Similarly, most major altcoins nosedived between 30%-50%, including ethereum, XRP, litecoin, bitcoin cash, BNB, EOS, TRX, ADA, and XLM. ETH/USD broke the USD 165, USD 150 and USD 120 support levels. Besides, XRP/USD fell sharply below the USD 0.180 and USD 0.150 support levels before the bulls appeared near USD 0.120.

Total market capitalization

After a daily close below USD 7,800, bitcoin price started a strong decline. BTC/USD tumbled more than USD 4,000 and tested the USD 4,000 and USD 3,950 levels. It is currently recovering losses above USD 4,500 and USD 5,000. An initial resistance is near the USD 5,500 level, above which the price may perhaps test the USD 6,200 resistance area.If the price fails to correct above USD 5,500 or USD 6,200, it is likely to resume its decline. An initial support is near the USD 4,800 level, followed by the USD 4,400 level.

Ethereum price followed bitcoin and declined more than 50%. ETH/USD tumbled below the USD 150 and USD 120 support levels. It even spiked below USD 100 before it found support near USD 90. The price is currently correcting above USD 120 and it might soon test the USD 130 and USD 142 resistance levels.On the downside, an initial support is near the USD 110 level, below which the price is likely to retest the USD 100 support level in the near term.

Bitcoin cash price nosedived below the USD 250 and USD 240 support levels. BCH/USD even spiked below the USD 150 level and tested USD 130. The price is now recovering and it is trading above the USD 150 level. On the upside, the previous supports near the USD 185 and USD 200 levels are likely to act as hurdles for the bulls.Litecoin fell below the USD 40.00 and USD 32.00 support levels. LTC/USD found support near USD 24.00 and USD 25.00. It is back above USD 30.00 and it could rise towards the USD 36.50 and USD 38.00 resistance levels. The main resistance is seen near the USD 40.00 level.XRP price settled below the USD 0.200 and USD 0.180 support levels, sparking a nasty decline. The price crashed below USD 0.150 and it even spiked below USD 0.120. It is now correcting higher, but the USD 0.155 and USD 0.162 levels are likely to act as key resistance levels for upside continuation.

In the past three sessions, almost all small-capitalization altcoins declined more than 50% and are currently recovering, including AE, MKR, IOST, BSV, NANO, ONT, MATIC, HOT, ZIL, STEEM, BNB, and QTUM.

Watch the latest reports by Block TV.

The overall price action is very bearish and the current recovery in bitcoin is likely to face barriers near USD 5,500 and USD 6,000. If the price resumes its decline, the main support is seen near the USD 4,200 and USD 3,800 levels._____

Continued here:

Bitcoin and Altcoins Attempt to Recover After Significant Crash - Cryptonews

Xinxi Wang, the co-founder of the Litecoin foundation and Cryptocurrency exchange platform Coinut, shared his thoughts on Twitter regarding Cryptocurrency recently.

He says that if an individual enters the crypto world, there is no bailout, no QE (Quantitative Easing), no president pump, and nothing else, and according to his view entering crypto is a onetime function with no option of exiting.

He summarised that it is just the individual who has entered and the market in the battle, which he described as cold and brutal but can be hoped at its fullest. He also posted a set of rules to follow in the unpredictable market to stay in the safe zone.

The first character he described is to be disciplined in the market trends and not to risk what the individual cannot afford, and the next rule he defined is not to use any leverage in the market trade. Still, if the individual uses leverage, it should be bearable.

Xinxi is the co-founder and CEO of the Coinut Cryptocurrency Exchange Platform. He started his trading journey got his first pot of yield in the Forex market and later he was attracted to Bitcoin and its features back in 2011.

He completed his Ph.D. degree in Computer Science from the National University of Singapore. Xinxi is currently a core developer in the Litecoin foundation after he co-founded the Foundation along with Charlie Lee and later co-founded another Crypto-related product, Coinut Cryptocurrency Exchange Platform.

Which is based in both Singapore and Canada, Coinut stands for COIN Ultimate Trading. This trading and exchange platform is one of the prominent and growing exchange platform in the industry specially designed for Litecoin trading, users who sign up on this trading platform get $2 worth of Litecoin as a bonus.

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Xinxi Wang, Co-founder Of Litecoin And Coinut, Talks About Crypto Effects On Twitter - The Coin Republic

On Feb. 28, the Litecoin Foundation announced a partnership with MeconCash to roll-out Litecoin (LTC) to Korean won withdrawals and remittances from 13,000 ATMs in South Korea.

The partnership will see LTC integrated onto MeconCashs M.Pay payments platform. Litecoin will also be accepted as payment on MeconCashs retail platform MeconMall, and to pay for games that accept M.Pay rewards.

According to CryptoCompare, 24-hour trade between Litcoin and won produced nearly $4.3 million in trade comprising 0.82 percent of total trade at press time.

Charlie Lee, the managing director of the Litecoin Foundation, described the partnership as a big step toward expanding Litecoins footprint in the South Korean market.

In 2018, South Korea produced a record volume of remittances with $6.25 billion worth of transfers.

An increasing number of cryptocurrencies are seeking to capture the Asian remittance market, with Ripple launching several partnerships in the region during February.

On Feb. 25, Ripple announced that South Korean cross-border remittance provider and money transfer companies Hanpass and Sentbe had joined its blockchain-based financial services network RippleNet.

The next day, Ripple revealed a partnership with European money transfer provider Azimo to use distributed ledger technology for its remittance service into the Philippines.

Read more from the original source:

13,000 ATMs in South Korea to Support Litecoin Withdrawal and Remittances - Cointelegraph

Litecoin

Litecoin slid by 5.31% on Monday. Partially reversing a 6.58% rally from Sunday, Litecoin ended the day at $75.55.

Bearish through the day, Litecoin slid from an early morning intraday high $80.04 to a late afternoon intraday low $71.80.

Litecoin fell through the first major support level at $76.08 and the second major support level at $72.37.

Of greater significance, however, was a fall through the 38.2% FIB of $78.

Finding support late on, Litecoin broke back through the second major support level to wrap up the day at $75.55.

At the time of writing, Litecoin was down by 2.63% to $73.56. A bearish start to the day saw Litecoin fall from an early morning high $76.12 to a low $73.26.

Litecoin left the major support and resistance levels untested early on.

Litecoin would need to move through to $75.80 levels to support a run the first major resistance level at $79.79.

Support from the broader market would be needed, however, for Litecoin to breakout from the 38.2% FIB of $78.

Barring a broad-based crypto rally, the 38.2% FIB would likely leave Litecoin short of the first major resistance level.

Failure to move through to $75.80 levels could see Litecoin fall deeper into the red.

A fall back through the morning low $73.26 would bring the first major support level at $71.55 into play.

Barring an extended crypto sell-off, however, Litecoin should steer clear of sub-$70 levels on the day.

Major Support Level: $71.55

Major Resistance Level: $79.79

23.6% FIB Retracement Level: $62

38.2% FIB Retracement Level: $78

62% FIB Retracement Level: $104

Stellars Lumen slid by 5.82% on Monday. Reversing a 4.42% gain from Sunday, Stellars Lumen ended the day at $0.069148.

Tracking the broader market, Stellars Lumen slid from an early morning intraday high $0.073827 to a late intraday low $0.067507.

Stellars Lumen fell through the first major support level at $0.07093 and the second major support level at $0.068450.

Story continues

Finding support late on, Stellars Lumen moved back through the second major support level to wrap up the day at $0.069 levels.

At the time of writing, Stellars Lumen was down by 2.37% to $0.067509. A bearish start to the day saw Stellars Lumen fall from an early morning high $0.069264 to a low $0.067509.

Stellars Lumen left the major support and resistance levels untested early on.

Stellars Lumen would need to move through to $0.07020 levels to support a run at the first major resistance level at $0.07281.

Support from the broader market would be needed, however, for Stellars Lumen to break out from the morning high $0.069264.

Barring a broad-based crypto rebound, resistance at $0.070 would likely leave Stellars Lumen short of the first major resistance level.

Failure to move through to $0.07020 levels could see Stellars Lumen struggle later in the day.

A fall back through Mondays low $0.067507 would bring the first major support level at $0.06649 into play.

Barring another crypto sell-off, however, Stellars Lumen should steer clear of sub-$0.0660 levels on the day.

Major Support Level: $0.06649

Major Resistance Level: $0.07281

23.6% FIB Retracement Level: $0.1051

38% FIB Retracement Level: $0.1433

62% FIB Retracement Level: $0.2050

Trons TRX slid by 6.94% on Monday. Reversing a 6.54% rally from Sunday, Trons TRX ended the day at $0.019875.

A bearish start to the day saw Trons TRX slide from an early morning intraday high $0.021398 to a late afternoon intraday low $0.019200.

Trons TRX fell through the first major support level at $0.02053 and the second major support level at $0.01961.

Steering clear of sub-$0.019 support levels, Trons TRX broke back through the second major support level late on.

At the time of writing, Trons TRX was down by 0.73% to $0.019729. A bearish start to the day saw Trons TRX fall from an early morning high $0.019921 to a low $0.019552.

Trons TRX left the major support and resistance levels untested early on.

Trons TRX would need to move through to $0.02020 levels to support a run at the first major resistance level at $0.02112.

Support from the broader market would be needed, however, for Trons TRX to break out from the morning high $0.019921.

Barring an extended crypto rally, resistance at $0.020 would likely leave Trons TRX short of the first major resistance level.

Failure to move through to $0.02020 levels could see Trons TRX slide deeper into the red.

A fall back through the morning low $0.019552 would bring the first major support level at $0.01892 into play.

Barring an extended crypto sell-off, however, Trons TRX should continue to steer clear of sub-$0.019 levels on the day.

Major Support Level: $0.01892

Major Resistance Level: $0.02112

23.6% FIB Retracement Level: $0.0322

38.2% FIB Retracement Level: $0.0452

62% FIB Retracement Level: $0.0663

Please let us know what you think in the comments below

Thanks, Bob

This article was originally posted on FX Empire

Originally posted here:

Litecoin, Stellars Lumen, and Trons TRX Daily Analysis 25/02/20 - Yahoo Finance

Despite the brutal retracement the cryptocurrency market saw this week, a top analyst is getting bullish on Litecoin, citing an array of technical factors.

While this may not seem relevant to many readers, as many of you may not trade or own the altcoin, LTCs directionality could have a strong effect on the rest of the crypto asset class, Bitcoin included.

The pullback in the cryptocurrency market hasnt fazed analysts.

In fact, a popular trader, Byzantine General, is extremely optimistic about Litecoin, a cryptocurrency that has gained around 95% this year outpacing BTC by 100%, though underperforming Ethereum and the Bitcoin hard forks.

In an analysis published Sunday, Byzantine General pointed to four technical factors suggesting LTCs long-term price trend is looking surprisingly bullish:

Our readers who dont own or trade LTC may be wondering why this matters. Well, a weird correlation has formed over the past year or two where Litecoins price action is often later reflected in Bitcoin, which then causes the rest of cryptocurrencies to move.

The most memorable case of this was in the first half of 2019, which is when the altcoin suddenly began surging higher months prior to its block reward halving. For a few weeks, the altcoin rallied on its own, gaining dozens of percent week-on-week as the market was relatively flat. But eventually, Bitcoin started moving, following in the path blazed by LTC.

Furthermore, LTC front-ran Bitcoin just a few weeks ago, when it suddenly broke higher as BTC was stagnating. Bitcoin, of course, followed the asset higher just days later.

Litecoins ability to precede the rest of the market is important because it suggests that should LTC start rallying here, buoyed by the aforementioned technical factors, so too should Bitcoin.

Theres also been some talk about Litecoins pre-halving performance potentially predicting how Bitcoin will fare in the coming months, though this hasnt been entirely fleshed out.

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Litecoin Prints Array of Buying Signals, and That's Massively Bullish for Crypto - newsBTC

Litecoins fate in 2020 has been a tale of two months. After registering a close to 60 percent hike in January and another 22 percent hike up to 14 February, a decline of 32.71% followed right after. At press time, Litecoin was priced at $60.50 and it had registered a market cap of $3.88 billion. The trading volume continued to be above $5 billion, in spite of the valuation dropping by more than 20 percent over the past week.

Litecoin 1-day chart

On observing the 1-day chart, it can be seen that the downtrend over the past 14 days has become more prominent, with the valuation falling under major support levels at $74.42, $67.42 and $62.25. These support levels were active resistances when they were breached back in January. The current bearish breakout seemed to be an outcome of a rising wedge that started taking shape during the start of 2020. With time, the price continued to squeeze in between the trendlines and the decline started taking place on 15 February.

At the moment, Litecoin remained just above the Point of Control. According to the VPVR indicator, the trading activity over the last 6 months has been significantly strong at this PoC range and at resistance levels of $74.42. The absence of trading in between these ranges indicated that the price will not consolidate for a longer period between these price points.

At the time of writing, Litecoin remained above the PoC of 59,42, but a breach under this level may take its valuation down to December lows. A possible trading range for the next week or two should be between $58 and $62, considering the current absence of bullish momentum.

The 200-day moving average also continued to act as support but over the past week, the price has been dropping and continued bearish sentiment may flip the moving average to resistance as well.

The Relative Strength Index or RSI remained closed to the over-sold section and hence, a bounce-back from this point may be a feasible turn of events. However, the MACD remained under bearish pressure as the bullish momentum lagged behind.

Conclusion

Litecoins bearish woes continued, but it may have hit rock-bottom for the time being. A move below $59.42 could have dire consequences as a way back above might became a difficult path to navigate.

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Litecoins rock-bottom valuation at the cusp of recovery or dismay - AMBCrypto

Following the collective bearish trend over the past week, Litecoins price recorded a correction that has continued over the past three days. From 24 February to press time, Litecoin had undergone a decline of over 25 percent as the price stretched from $80 to $63.22. Over a 24-hour period, Litecoin had recorded a devaluation of 13.15 percent, but its trading volume continued to be above its market cap at $6.11 billion.

1-day Litecoin chart

Litecoins 1-day chart pictured a steep increase that was evident throughout the start of 2020. However, over the past 2 weeks, it has undergone several corrections. At press time, a descending channel pattern was taking shape on the charts, something that suggested that a possible bullish breakout might take place over the next few weeks. Although the possibility of such a turnaround is significant, the bullish momentum is currently spiraling down in the industry.

At the moment, the price remained in close proximity with the support levels at $66.87. However, it should re-test the resistance at $71.94 over the next week or so. But, a continuation of the bearish stronghold in the market could drag Litecoins valuation down all the way to $58.06. A possible trading zone for Litecoin remains between $73.72 and $63.28 over the next month.

According to the VPVR indicator, trading volume at $73 and $58.06 remains substantially strong. Hence, a neutral consolidation between the range seems unlikely at the moment.

Another factor that may have played a huge role in Litecoins valuation is the price movement of Bitcoin. Over the past 10 days, Bitcoin had undergone corrections on three occasions, with the slump on 26 February pulling Bitcoins value to under $9333.

Bitcoins fortune, as well as Litecoins future, may change under these circumstances if Bitcoin records a surge in price. BTC-LTC correlation has risen to 0.81 over the past week, indicating that both the crypto-assets are susceptible to collective change on the market.

Conclusion

At the moment, it is difficult to analyze market movement due to the inherent increase in volatility. Although the trend looks increasingly bearish at the moment, prices may react to other independent factors as well, en route to bullish recovery.

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Litecoins consolidation may be interrupted by its correlation with Bitcoin - AMBCrypto

Global Litecoin Exchange Market 2020-2025

The report covers complete analysis of the Global Litecoin Exchange Market on the basis of regional and global level. The report comprises several drivers and restraints of the Global Litecoin Exchange Market. Likewise, it covers the complete segmentation analysis such as type, application, and region. This report provides Litecoin Exchange Market key Manufactures, industry chain analysis, competitive insights, and macroeconomic analysis. Global Litecoin Exchange Market reportprovides the latest forecast market data, industry trends, and technological innovations. The in-depth view of Global Litecoin Exchange Market industry on the basis of market size, market growth, opportunities, and development plans offered by the report analysis. The forecast information, SWOT analysis, and feasibility study are the energetic aspects studied in this report. Along with that PESTEL analysis is also considered to be another major aspect in the market study.

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Types Covered In This Report:Pay To Public Key HashPay To Public KeyPay To Script Hash

Applications Covered In This Report:E-CommerceInvestment

This report on Litecoin Exchange Market also has the market analyzed on the basis of end user applications and type. End user application analysis can also help understand consumer behavior. Its important to study product application to predict a products life cycle. Segment type is also an important aspect of any market research study. Reports are product based, they also includes information on sales channel, distributors, traders and dealers. This helps in efficient planning and execution of supply chain management as it drastically affects the overall operations of any business. Thus, a market research report can be called a comprehensive guide that helps in better marketing and management of businesses.

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Few Points From TOC:1 Scope of the Report2 Executive Summary3 Global Litecoin Exchange by Players4 Litecoin Exchange by RegionsContinued

About Us:With unfailing market gauging skills, Orbis Market Reports has been excelling in curating tailored business intelligence data across industry verticals. Constantly thriving to expand our skill development, our strength lies in dedicated intellectuals with dynamic problem solving intent, ever willing to mold boundaries to scale heights in market interpretation.

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Global Litecoin Exchange Market is said to have a potential scope for growth in the years by 2025- Binance, Upbit, OKEx, Bithumb, Huobi - News Times

Welcome to our crypto Monday of the week in review the week 9! As usual, this week has again much to report significant and so it is not surprising that we can again come up with a whole range of interesting News for you.Our topics range from the Bitcoin price Crash and its effect on the Altcoins, analysis of the Ripple and the IOTA course, Bitcoin, the Simpsons, to the offensive attack of Litecoin on South Korea.Of course, this was not Far from everything! However, much more is not revealed at this point, because in the Following, we have you in the usual regalia of the Highlights of the last week bit by bit and easily digestible manner.But enough of the Preface. A lot of fun with our crypto Monday of the week in review!Let us know what were for you this week the most exciting, or most important events, and discuss about it with our Community on Telegram.

Bitcoin, crypto-currencies and Blockchain continue to move in the direction of the Mainstream. Not only the media are picking up on Bitcoin and co. again and again, but by now well-known series. So now in a new The SimpsonsEpisode.In the new episode, Jim Parsons explains in a crypto-Tutorial Lisa Simpson, how the Distributed Ledger technology (DLT), and thus, Bitcoin and other decentralized crypto-currencies work. Everything and a part of the scene you can read in this article, or look.

This weeks courses was for the Bitcoin exchange rate and for almost all of the Altcoin is the purest Torture. The Bitcoin price plunged over 10% and has pulled on the way to the bottom of the Altcoin courses. The weeks were before the Crash-more than good. In the first weeks of this year, many Altcoins, Bitcoin to outperform and orderly growth. Also the BTC rate was at the beginning of the year of its positive side. But what is the reason for the recent sale? Well find out in the next few days a new floor in the Bitcoin exchange rate, or we have to adjust to more falling prices? How will behave in the meantime, the Altcoins? We will clarify in this article.

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Love Ripple and XRP interested in paying attention, because this week we have a Ripple rate analysis that, despite the current market situation hope. Currently a bullishes pattern formed on the XRP Chart, this could be the beginning of a much larger upward movement.The XRP price is on the verge of a long-lasting move upward trend? What prices can we expect in the near future?The answers to these questions and more, you can find out in this article.

At the end of this week, we once again have a small market-pushed Update to the IOTA course. In it, we took a brief look at the IOTA Charter, to the current situation reflect around the IOTA course. We, of course, also the question of how far the IOTA course will fall. He is perhaps even currently worth a bet? Could be chosen to be a initial at the moment?The answer to these questions and much more you will learn in this article.

Litecoin has only made on Friday by the HODL mentality of the LTC investors headlines and yesterday there was already something Positive from the Crypto-to report silver. In the future Litecoin will be used, probably even more, as more than 13,000 ATMs in South Korea, LTC withdrawals in Korean Won (KRW) to enable.Why this is an interesting step, South Korea is particularly good at, and what obstacles need to be overcome for this, but still, you can find out in this article.

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What were for you your personal Crypto-this weeks Highlights? Discuss with us in our Telegram Chat and follow our News Channel!(Image: Shutterstock)

Bitcoin price Crash and its effect on Altcoins, Ripple, and IOTA course of the analysis, Litecoin to more than 13,000 ATMs available & Bitcoin on the Simpsons appeared first on crypto Monday Decoding the Blockchain

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Bitcoin price Crash and its effect on Altcoins, Ripple, and IOTA course of the analysis, Litecoin to more than 13000 ATMs available & Bitcoin on...

After trading below the USD 8,850 support, bitcoin found bids near the USD 8,550 support area. Recently, it started an upside correction above USD 8,700, but the previous supports near USD 8,850 and USD 9,000 are now (09:00 UTC) acting as key resistances for the bulls.

Similarly, most major altcoins are struggling to recover further above key pivot levels, including ethereum, XRP, litecoin, bitcoin cash, BNB, EOS, TRX, ADA, and XLM. ETH/USD topped near USD 235 and it is back below USD 230. However, XRP is still holding the USD 0.232, but it remains at a risk of more downsides in the near term.

Total market capitalization

Recently, bitcoin price managed to correct higher above USD 8,650 and USD 8,700 (as discussed yesterday). However, the previous supports near USD 8,850 and USD 9,000 prevented a convincing upside break. As a result, BTC/USD is now showing a few bearish signs below USD 8,800. If there is a clear break below USD 8,650, the price could even break the USD 8,550 support area.Any further losses may perhaps lead the price towards the USD 8,250 level. On the upside, the bulls need to gain pace above USD 8,850 to start a decent recovery wave.

Ethereum price corrected more than 10% from the USD 210 support area. ETH/USD climbed above USD 220 and USD 230. However, the USD 235 zone prevented further gains. A swing high was formed near USD 238 and the price declined below USD 230.It is currently testing the USD 225 zone, below which there is a risk of a drop towards the USD 210 area in the near term.

Bitcoin cash price corrected higher from the USD 300 support area, but it failed to continue above the USD 330 area. BCH/USD formed another top and it is currently declining below USD 320. If it continues to move down, there is a risk of a bearish break below the key USD 300 support area in the near term.Litecoin is under a lot of bearish pressure and it is currently struggling to stay above the USD 60.00 support. If there is a successful close below USD 60.00, there is a risk of a sharp decline towards the USD 55.00 support. Conversely, the price could recover above USD 62.50 and USD 64.50.XRP price gained bullish momentum and recovered above USD 0.235. However, the bears came into action near the USD 0.245 level. As a result, the price trimmed its gains and it is now approaching the USD 0.232 support area. Any further losses may perhaps lead the price towards the USD 0.225 level.

In the past three sessions, a few small-capitalization altcoins declined more than 5%, including AION, DX, MONA, BCD, ALGO, LSK, ABBC, REN and HC. Conversely, SXP, BCN, MKR, KNC, ZB, FTT and LINK are up more than 5%.

Watch the latest reports by Block TV.

To sum up, bitcoin price is facing a couple of important resistances near USD 8,850 and USD 9,000. BTC/USD must settle above USD 9,000 to start a decent recovery. If not, it could dive below the recent low at USD 8,550 in the near term._____

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Bitcoin and Altcoins Struggle to Recover - Cryptonews

Despite the brutal retracement the cryptocurrency market saw this week, a top analyst is getting bullish on Litecoin, citing an array of technical factors.

While this may not seem relevant to many readers, as many of you may not trade or own the altcoin, LTCs directionality could have a strong effect on the rest of the crypto asset class, Bitcoin included.

The pullback in the cryptocurrency market hasnt fazed analysts.

In fact, a popular trader, Byzantine General, is extremely optimistic about Litecoin, a cryptocurrency that has gained around 95% this year outpacing BTC by 100%, though underperforming Ethereum and the Bitcoin hard forks.

In an analysis published Sunday, Byzantine General pointed to four technical factors suggesting LTCs long-term price trend is looking surprisingly bullish:

Our readers who dont own or trade LTC may be wondering why this matters. Well, a weird correlation has formed over the past year or two where Litecoins price action is often later reflected in Bitcoin, which then causes the rest of cryptocurrencies to move.

The most memorable case of this was in the first half of 2019, which is when the altcoin suddenly began surging higher months prior to its block reward halving. For a few weeks, the altcoin rallied on its own, gaining dozens of percent week-on-week as the market was relatively flat. But eventually, Bitcoin started moving, following in the path blazed by LTC.

Furthermore, LTC front-ran Bitcoin just a few weeks ago, when it suddenly broke higher as BTC was stagnating. Bitcoin, of course, followed the asset higher just days later.

Litecoins ability to precede the rest of the market is important because it suggests that should LTC start rallying here, buoyed by the aforementioned technical factors, so too should Bitcoin.

Theres also been some talk about Litecoins pre-halving performance potentially predicting how Bitcoin will fare in the coming months, though this hasnt been entirely fleshed out.

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Litecoin Prints Array of Buying Signals, and Thats Massively Bullish for Crypto - newsBTC

Litecoin

Litecoin tumbled by 14.81% on Wednesday. Following on from a 6.08% slide on Tuesday, Litecoin ended the day at $60.42.

A bearish start to the day saw Litecoin fall from an early morning intraday high $72.16 to a late afternoon intraday low $57.52.

Steering clear of the major resistance levels, Litecoin fell through the major support levels of the day. Litecoin also slid through the 23.6% FIB of $62.00.

Late in the day, Litecoin briefly broke back through the third major support level at $58.49 and 23.6% FIB before wrapping up the day at $60 levels.

At the time of writing, Litecoin was down by 0.22% to $60.29. A mixed start to the day saw Litecoin fall to an early morning low $57.10 before striking a high $61.02.

Litecoin left the major support and resistance levels untested early on.

Litecoin would need to move through to $63.40 levels to support a run the first major resistance level at $69.21.

Support from the broader market would be needed, however, for Litecoin to break out from the 23.6% FIB of $62.

Barring a broad-based crypto rebound, Litecoin would likely fall well short of the first major resistance level.

Failure to move through to $63.40 levels could see Litecoin fall deeper into the red.

A fall back through the morning low $57.10 would bring the first major support level at $54.57 into play.

Barring another extended crypto sell-off, however, Litecoin should steer clear of sub-$50 support levels on the day.

Major Support Level: $54.57

Major Resistance Level: $69.21

23.6% FIB Retracement Level: $62

38.2% FIB Retracement Level: $78

62% FIB Retracement Level: $104

Stellars Lumen slid by 7.57% on Wednesday. Following on from a 6.47% fall on Tuesday, Stellars Lumen ended the day at $0.059109.

Tracking the broader market, Stellars Lumen slid from an early morning intraday high $0.064759 to a late afternoon intraday low $0.056106.

Stellars Lumen fell through the first major support level at $0.06249 and the second major support level at $0.06024.

Finding support late on, Stellars Lumen briefly moved back through the second major support level before wrapping up the day at sub-$0.060 levels.

At the time of writing, Stellars Lumen was down by 1.73% to $0.058088. A bearish start to the day saw Stellars Lumen fall from an early morning high $0.058438 to a low $0.056181.

Stellars Lumen left the major support and resistance levels untested early on.

Story continues

Stellars Lumen would need to move through to $0.060 levels to support a run at the first major resistance level at $0.06388.

Support from the broader market would be needed, however, for Stellars Lumen to break out from the morning high $0.058438.

Barring a broad-based crypto rebound, resistance at $0.060 would likely leave Stellars Lumen short of the first major resistance level.

Failure to move through to $0.060 levels could see Stellars Lumen struggle in the day.

A fall back through the morning low $0.0561818 would bring the first major support level at $0.05522 into play.

Barring another extended crypto sell-off, however, Stellars Lumen should steer clear of sub-$0.055 support levels.

Major Support Level: $0.05522

Major Resistance Level: $0.06388

23.6% FIB Retracement Level: $0.1051

38% FIB Retracement Level: $0.1433

62% FIB Retracement Level: $0.2050

Trons TRX tumbled by 13.26% on Wednesday. Following on from a 4.65% fall on Tuesday, Trons TRX ended the day at $0.016410.

Bearish through the day, Trons TRX fell from an early morning intraday high $0.019145 to a late afternoon intraday low $0.015610.

The reversal saw Trons TRX slide through the major support levels of the day before finding support.

Finding support late on, Trons TRX recovered to $0.0167 levels before easing back. The third major support level at $0.01670 pinned Trons TRX back late in the day.

At the time of writing, Trons TRX was up by 1.83% to $0.016710. A mixed start to the day saw Trons TRX fall to an early morning low $0.015910 before striking a high $0.01680.

Trons TRX left the major support and resistance levels untested early on.

Trons TRX would need to move through to $0.0170 levels to support a run at the first major resistance level at $0.01850.

Support from the broader market would be needed, however, for Trons TRX to break out from the morning high $0.01680.

Barring an extended crypto rebound, resistance at $0.018 would likely leave Trons TRX short of the first major resistance level.

Failure to move through to $0.0170 levels could see Trons TRX slide back into the red.

A fall back through to sub-$0.016 levels would bring the first major support level at $0.01497 into play.

Barring an extended crypto sell-off, however, Trons TRX should steer clear of sub-$0.015 levels on the day.

Major Support Level: $0.01497

Major Resistance Level: $0.01850

23.6% FIB Retracement Level: $0.0322

38.2% FIB Retracement Level: $0.0452

62% FIB Retracement Level: $0.0663

Please let us know what you think in the comments below

Thanks, Bob

This article was originally posted on FX Empire

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Litecoin, Stellars Lumen, and Trons TRX Daily Analysis 27/02/20 - Yahoo Finance

For the longest time, Litecoin held the position of fifth-largest cryptocurrency by market cap, though it has since been knocked aside by EOS. Litecoin is now in sixth place and remains amongst the top ten cryptocurrencies in circulation. It was developed in 2011 through a bitcoin fork by former Google employee Charlie Lee, making it older than bitcoins primary competitor Ethereum. From there, Lee was able to create his own genesis block and start a new digital currency with no previous transactions under its belt.

The report further explains:

Another interesting aspect is that Litecoin has experienced a very significant correction from the all-time highs of the cryptocurrency industry in January 2018. With respect to its all-time high of $378, Litecoin has fallen by 81 percent to its current price. This is a slightly larger decline than the 71 percent decline in the total market cap of all crypto assets. Given that Litecoin has an established and stable working product, as well as significant adoption, this bear market of the whole cryptocurrency industry could have led to Litecoin being oversold.

Litecoin is often referred to as digital silver alongside bitcoins digital gold. While this is partly due to the currencys age (bitcoin is only slightly older), Greenspan assures it has ultimately remained one of the markets most important entities, as well as a primary alternative to bitcoin in that it offers cheaper and faster transactions.

Litecoin Price Chart since Start of 2018

It is also one of the more liquid coins, and easier to trade to fiat when compared with other altcoins. It further offers a little more diversification than other forms of digital money in that it is considerably more affordable than bitcoin, giving it more room for growth.

Lastly, it is appropriate that Litecoin would garner comparisons to silver, while bitcoin is placed against gold. One ounce of gold costs approximately 80 ounces of silver, while at press time, one bitcoin is worth roughly 85 LTC. The amount of Litecoin meandering through the cryptocurrency arena is about 3.35 times larger than that of bitcoin, and the final total will be four times larger. Litecoin is also mined much faster than bitcoin, which means that the price of Litecoin should eventually rise faster than the price of bitcoin, according to the report.

Chances are that when you think of cryptocurrency, you think of Bitcoin. Thats understandable. Bitcoin has been the public face of all cryptocurrencies since it first appeared on the scene in the shadowy Satoshi Nakamotos white paper in 2008. Its subsequent adoption by the Silk Road black market and meteoric rise in price, which turned pizza change into millions of dollars, forever cemented it as the coin to watch.

Bitcoin, however, is a product of its times. Very little tech has survived from 2008 unchanged, from mobile phones to laptops to solar panels. Bitcoin is no exception. Although its introduction was revolutionary, its underlying code has aged somewhat poorly. Bitcoin was never really designed to handle the kind of traffic the network currently demands, and so speed and scalability issues have plagued the Bitcoin community since shortly after its rise to prominence. This has a resulted in at least 30 legitimate forks of the coins open-source code, almost all geared toward improving Bitcoins average transaction speed.

One notable fork that did not adopt the profitable Bitcoin name was Litecoin. Since its creation in 2011, Litecoin has risen to become one of the main alternative coin base pairings on most major exchanges, and it frequently fills in the transaction speed gaps that would otherwise doom Bitcoin to irrelevance. Were going to take a brief tour of the history between these two cryptocurrency giants, examine the state of the market, and try to figure out what the future holds for both currencies.

Litecoins creation stems from a dispute between Bitcoin developer Charlie Lee and the mainline Bitcoin community. Between February and June 2011, Bitcoins price rose from $1 to $31, a huge increase. While this was viewed by most members of the Bitcoin community as a net positive, Lee maintained that Bitcoin was already facing scalability issues and the price was rising out of proportion to the networks ability to handle peer-to-peer traffic. To resolve this issue, he created a hard fork of Bitcoins code to form a new, faster, and cheaper coin dubbed Litecoin. Litecoins supply was set at 84 million, almost four times Bitcoins 21 million, to rein in per-coin pricing. Its transaction time was reduced to about a fourth of Bitcoins, and its block reward doubled.

Furthermore, Litecoin mining is significantly cheaper than Bitcoin mining in terms of electrical cost. The downside is that the scrypt used to mine Litecoin is a stripped-down version of the Bitcoin scrypt, and so it may be inherently less secure. After all, security is one of the main reasons for using cryptocurrency in the first place, Bitcoin supporters argue, and compromising security to make spending Litecoin easier is a potential recipe for disaster.

Table provided by Coindesk

At the moment, all alternative coins including Litecoin are highly dependent on the price of Bitcoin. The market simply has not achieved widespread adoption, and no coin even comes close to challenging Bitcoins financial position at the top of the heap.

This may very well change as the market grows and adapts, and Litecoin appears to have carved out a niche for itself as a recognizable and widely used medium of exchange for alternative coins. There is a few other projects with this stated goal, but none can boast the pedigree or the market capitalization of Litecoin. Furthermore, Bitcoin and Litecoin share heavy coding elements, and so projects explicitly designed for one coin or another are often interoperable.

Litecoin also has a surprising number of dark-horse elements in its favor. One is Litecoins growing acceptance on the so-called dark web. This is the very same vehicle that pushed Bitcoin to prominence via the aforementioned Silk Road. Litecoin traffic makes up about 30 percent of dark web transactions, second only to Bitcoin. While this might seem like a rather unsavory route to success, dark web adoption is the same portal Bitcoin used to get mainstream acceptance. If nothing else, it works as a proof of concept; while Litecoin certainly has some security and anonymity vulnerabilities, guaranteeing it cant stay in the dark forever, its use as a currency is tried and true. In other words, if it works on the dark web for buying sundry illegal or unethical materials, it should work just fine in legitimate marketplaces.

Litecoin is also popular in China, and many market observers believe that China and Asian markets in general will lead the next big wave of cryptocurrency adoption. The Chinese and Korean governments have both loosened their stance toward cryptocurrencies in general, opening the door to potentially billions of new investors. Litecoin boasts a more accessible price point for the time being, anyway than Bitcoin, making it more attractive to new investors who want to own an entire coin.

The only big negative in the Litecoin arena is, ironically, its similarity to Bitcoin. As a cheaper, faster Bitcoin, Litecoin presents investors with major advantages over the current king of crypto. The next generation of altcoins, however, are purpose-built to replace Bitcoin in a variety of arenas, from pure currency to the Internet of Things to artificial intelligence to digital platforms. Litecoin may very well supplant Bitcoin in some areas, but it will be hard-pressed to work as a catchall solution for the hordes of alternative coins looking to take its place. For virtually every Litecoin use case, there is an altcoin that does it better, faster, or more cheaply.

Only time will tell if Litecoins nameplate value will overcome these challenges. After all, perfection is often the enemy of the good, and Litecoin just might be good enough to retain a foothold in the crypto world for years to come.

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Litecoin LTC Price Today - Live Litecoin Prices, Charts ...

Litecoin (LTC) hit $70 for the first time since September 2019 this weekend, fuelling speculation it will induce a Bitcoin (BTC) bull run.

Data from Cointelegraph Markets and Coin360 showed LTC/USD passing the notable $70 barrier on Feb. 1, going on to claim local highs of $71.50.

As with many major altcoins, the achievement caps a highly successful month for Litecoin, which on Jan. 1 traded at just $43.

Litecoin price 1-month chart. Source: Coin360

However, the 65% jump caught traders attention for one reason in particular. As popular Twitter personality Loma noted on Saturday, Litecoin put in a similar performance in March last year.

After doubling its price over four weeks, Litecoin gave way to Bitcoin, which began a three-month bull-run culminating in a 19-month record of $13,800.

Analyzing current sentiment, Loma and others now see the potential for the pattern to repeat itself.

Litecoin leads bitcoin, investor Michael Flaum summarized on Twitter on Friday.

Litecoin up 5.8% Dont know why, but its a common trend. $10k bitcoin very possible.

As Cointelegraph reported, multiple trading sources have recently flipped increasingly bullish on Bitcoins prospects for this year.

Having broken out of the $6,000 range, commentators are now broadly convinced that a return to those levels is highly unlikely.

In a Market Discussion on Friday, two well-known crypto YouTubers added to the sense of anticipation, arguing that at current levels of $9,400, BTC/USD is already in the bull cycle, which could reach at least $80,000.

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Litecoin Leads Bitcoin LTC 65% Gains Echo Start of 2019 Bull Run - Cointelegraph

David Burkett, the developer of the MimbleWimble privacy protocol version for the Litecoin (LTC),released the second monthly dev update. It looks like he has made remarkable progress.

Since the MimbleWimble protocol is utilized forobfuscating transactions, the most crucial achievement is reached in this room. Mr. Burkett disclosed that he had found a way to erase theneed for the sender and receiver to communicate within the framework of thepending transaction.

Previously, both the sender and receiver were required to stay onlinewhen sending LTC. Instead of this, the new proposal supports receiving Litecoins (LTC) via cold storage. Thus, it upgrades the possibilities of hardware wallets usage.

Furthermore, Mr. Burkett re-considered the database framework to enable coin-agnosticatomic updates across multipletables. This feature has already been testedusing Litecoin (LTC) specifications and block models.

Finally, the developerreceived and appliedsecurity audit results for Grin++, so, both Grin++ & libmw codebases became 'significantly better'.

TheLitecoin (LTC) community supports the development efforts of Mr. Burkett by generous donations to compensate for his work. As U.Today reported previously, theLitecoin Foundation managed to collect $12,000 for the salary of Mr. Burkett while every dollar is re-doubled by Foundation leaderCharlie Lee.

Since final compensation for the developer is $6,000 per month, this sum guarantees four more months of MimbleWimble development.

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Litecoin (LTC) MimbleWimble: Non-Interactive Transactions Are Ready - U.Today