Bitcoin and Litecoin set to experience a bullish trend, technical indicators hint - Global Coin Report
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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

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As Global Tensions Grow, Bitcoin Price May Go Higher

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BTC Surged Again as A Safe Haven Asset During Global Tensions

  • India – China Border Conflict

After weeks of squabbling and brawling along their long-disputed border, hundreds of Indian and Chinese soldiers engaged in a deadly clash Monday in a river valley that’s part of the region of Ladakh last week. Troops had massed on both sides of the border in recent months in the northern India region of Ladakh and the southwestern Chinese region of Aksai Chin, causing global concerns of a potential escalation between the two.

  • North and South Korea Clash

Last Tuesday, North Korea destroyed the liaison office it jointly operates with South Korea in the city of Kaesong, just north of the demilitarized zone that separates the two countries. 

North Korea also said it would send troops to now-shuttered joint cooperation sites on its territory, reinstall guard posts and resume military drills at front-line areas in a violation of separate 2018 deals with South Korea. Jeong said South Korea will take “immediate, swift and corresponding” steps to any North Korean provocation.

The tensions grown in Asia and the potential “second wave” of coronavirus in the United States may add more difficulties to the global economic recovery. Thus, Bitcoin, as a safe haven asset, attracts more investors to…

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CoinFlip Continues to Dominate the U.S. Cryptocurrency ATM Market

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Although cryptocurrency has brought in a lot of traders seeking the dream of overnight wealth, cryptocurrency is a lot more than just striking it rich.  Cryptocurrency is about creating a new market with companies that are building cutting edge technology in an effort to continue elevating our way of life.  As the crypto market continues to expand, several companies are involved in creating ways for more people to participate.  One such company that appears to be making all the right moves is CoinFlip.

CoinFlip is the world’s leading cryptocurrency ATM operator that currently allows users to buy and sell 10 different cryptocurrencies including BTC, ETH, LTC, DASH, TRX, KMD, LINK, BNB, XLM, and USDC.  Due to the company’s quick growth, CoinFlip has quickly gained a reputation of being the place to go for all crypto ATM transactions.  In addition to its massive geographic coverage, there are four advantages that CoinFlip currently offers over its competitors:

  • Lowest fees of any cryptocurrency ATM in the world
  • Lightning-fast transactions that are typically completed between 10 and 30 minutes
  • Extremely easy customer verification
  • 24/7 customer support through phone, text, and chat

Given the global pandemic currently facing us, many companies have been struggling just to survive.  CoinFlip, on the other hand, is not only surviving but thriving.  The company has had an exciting few months and has even bigger plans…

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Cryptocurrency Fraud is Evolving; Bitcoin ATMs Mitigate Risk 

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Cryptocurrency Fraud is Evolving
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In one of the more overlooked aspects of the crypto ecosystem, it appears that the bulk of illicit activities are shifting from hacks and thefts to cryptocurrency fraud and scams.

CipherTrace, the crypto-surveillance, and analysis firm released a report at the end of Q4 2019 that revealed hacks and thefts had decreased by 66 percent in 2019 while fraud and misappropriation of funds surged by 533 percent. And beneath the COVID-19 hysteria of 2020, hacks in the crypto sector have been eerily isolated. 

Outside of a few exploited flaws in P2P exchanges and DeFi flash loan vulnerabilities, the headline-grabbing hacks of exchanges for hundreds of millions of dollars have been absent so far this year. Is the industry due for another massive hack, or are stringent KYC/AML processes, regulatory crackdowns, better security practices, and blockchain surveillance working? 

KYC/AML Improvements Are Reducing the Appeal of Crypto Exchange Laundering 

2020 is far removed from the no-KYC wild west days of the early-mid 2010s where anonymous altcoin casinos preponderated and the Dark Underbelly of Cryptocurrency Markets thrived. 

Today, bitcoin and the crypto ecosystem is becoming institutionalized with a surfeit of derivatives (e.g., options, futures, perp swaps, etc.) available on…

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