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Bitcoin and Litecoin set to experience a bullish trend, technical indicators hint

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Litecoin is one of the biggest cryptocurrency in the crypto-sphere as it is among the top 10 cryptocurrencies. The crypto is often regarded as a lightweight Bitcoin because it is technically almost identical, faster and cheaper than BTC. It is important to note that Litecoin is the 7th largest cryptocurrency according to market capitalization and is carried by different exchanges around the world.

Litecoin / Bitcoin Market Activities and Price Forecasts

The price of LTC has been moving steadily at $60 price mark; however much of its activity is affected by the market activity of Bitcoin. Bitcoin increased recently to $6,800 so did Litecoin.

At the moment, Bitcoin is moving in a steady momentum which makes its price move at the rangebound of $6,200 to $6,580 in the 1-hour market chart. Also on BTC’s 1-hour chart, BTC 20-Period WMA is at $6630. Subsequently, Bitcoin’s MACD is building momentum for a bullish run.

On BTC 4-hour market chart, four resistances have been created from the last bear trend: $7,370, $7000, $6900, and $6700. BTC’s stochastic indicator also shows that Bitcoin is overbought and we may see a bull trend very soon, even though the BTC’s market chart shows it is in a symmetrical triangle.

If Bitcoin breaks out of its symmetrical triangle – out of (E), then that will positively affect the price of Litecoin and help LTC break out of its uptrend.

Bitcoin’s technical analyses are pointing out a bullish prediction in the next few days. However, the overall vital resistances for a breakout are $6800, $7000, and $7300 price marks.

Even though LTC is approaching resistance at 66 (ascending channel’s resistance, 100 percent Fibonacci extension) and a sharp dip might happen below this level dragging price down to the significant support at 57, 76.4 percent Fibonacci retracement, and 100 percent Fibonacci extension, there is still a high possibility that a breakout will occur.

Stochastic (55, 53) is still seeing a bearish divergence and approaching resistance where a reaction below this level might see a corresponding drop in price, but a breakout on Bitcoin will also affect Litecoin.

As regards to price predictions, many crypto analysts have are confident that Litecoin will reach a price of $500. If you are to take a look at Litecoin, you will notice that it is performing well.

At the time of writing, LTC is priced at $59.80 with a market capitalization of $3,504,111,177. Today, lots of institutional investors are investing in cryptocurrency, and as a result, the number of daily transactions on Litecoin has increased.

Based on its price forecast, it is safe to say that now is the right time to invest in Litecoin. Of course, you should not spend more than what you can afford to lose, though – the crypto market is extremely volatile and that’s a fact we should not forget no matter whatever the things point at a given time.

Overall, there is a bullish sentiment that is coming up with Bitcoin and Litecoin, which will have these coins jump to more than their current price.

Bitcoin is expected to go up till the end of the year steadily now. In the case of Litecoin, if it manages to come up above $60 price mark, then, it may move further to $70 or more. Consequently, LTC has been able to hold on to $60 for a few days now; in the coming days, positive things are set to come on the price of LTC – but investors need to be patient.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Photo by Lieve Ransijn on Unsplash

Bitcoin

Is Bex500 an alternative to BitMEX?

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An all around review of Bex500

Bex500 is a young but rapid-growing exchange, less adversarial than BitMEX, but with higher leverage than Binance, Bex500 has enough strings to attract many crypto traders. 

Those dissatisfied with the old exchange, may find Bex500 exchange with a stable system with no manipulation or “overload”, pleasant UX, user-friendly tool kits, and around-clock customer service.

Bex500 says they are making crypto margin trading “easier” and giving you a better return. 

Can they really achieve that? We conduct a comprehensive review as below to see if it is a trustworthy exchange

Question 1. What features does Bex500 have?

Bex500 offers perpetual BTC futures as well as three other cryptos including ETH, XRP and LTC, all paired against USDT. You may find Bex500 doing a good job aggregating most important features traders need for a robust trading experience with better return.

-A fair trade with no overload

Many traders are familiar with “overload” problem, which disables placing orders in peak trading times. It is suspected to be insider manipulations by exchanges which can cost users entire portfolios.

Bex500, with its unmatched TPS (claimed to be over 10,000 orders per second), ensures that the trading…

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How Bitcoin Has Changed Online Gaming

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We always hear how Bitcoin is great for the financial industry, how it can remove the middleman and help you save money while you spend money. How it can provide fast transactions at any time to any place, even when you wish to send money to someone on the other side of the world.

While all of that is true, it is important to remember that Bitcoin’s impact does not end there. The coin has already changed countless other industries, but one of the first ones that have accepted it with open arms — and therefore one that was changed the most — is the online gaming industry.

Bitcoin’s impact on online gaming

The first thing to note here is that digital currencies have found their use in online gaming thanks to microtransactions. However, it goes far beyond simply purchasing an in-game item from another player. Bitcoin’s biggest impact, without a doubt, concerns online gambling, sports betting, and similar activities.

Bitcoin brings security and anonymity

Bitcoin casino has become one of the new most popular places for an online gambler to visit, and for numerous reasons. Bitcoin brought increased security — to the financial industry, as well as online games. This is important because security is crucial for anyone who enjoys online gambling. It…

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Bitcoin

The Crucial Role of Cryptocurrencies & Blockchain in Modernising The Telco Industry

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Blockchain has caused quite a stir in recent years. In fact, there’s a school of thought that firmly believes the digital ledger technology will prove to be the 21st Century’s biggest innovation

There are a great many industries braced for the disruptive force of blockchain, and the sweeping benefits it can bring to telecommunications can’t be underestimated. 

A blockchain is a decentralised, distributed, public digital ledger that’s fundamentally used to record transactions online. Every transaction that takes place is recorded across an extensive array of computers in a way that ensures that any individual record within the chain can’t be tampered with or retroactively modified. 

Because of the virtually impregnable security associated with blockchain and the efficiency that comes with a fully decentralised ledger, there’s plenty of potential for the technology within the telco industry in particular – especially given the financial flexibility that comes with cryptocurrency transactions beyond borders. 

Let’s take a deeper look at the important role that both blockchain and its associated cryptocurrencies can play in modernising and securing the telco industry:

Unprecedented security

The arrival of blockchain is causing a stir at Deloitte. The professional services giant has contributed tens of thousands of words on blockchain within its ‘insights’ network, and there are…

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