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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

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Bitcoin

Behold The Cryptopreneurs – Overcoming The Obstacles Facing The Blockchain Industry

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Integrating blockchain technology is fast becoming a necessity for enterprise ventures and small or large businesses, but with a growing number of choices in the tech revolution, it’s difficult to pick a direction without feeling overwhelmed or taken advantage of. This is where BEHOLD THE CRYPTOPRENEURS comes in.

Private keys, the myth of anonymity, and the battle against anarchist ideology are only a few of the difficult challenges faced by businesses that want to incorporate blockchain into their culture. Author Dennis H. Lewis guides the reader through those challenges and helps them discover the true potential of investing in this new economic paradigm.

Every business has pain points that must be overcome in order to branch out and thrive in an ever-changing commercial environment. Blockchain has real world solutions and cryptopreneurs are not limited to the cryptocurrencies they invest in but rather how they seize economic and technological opportunities to make it work for them.

Innovation, trust, and solutions can differentiate your business from all the noise, but without a solid marketing plan, a cryptopreneur can have the best idea and never get far. Remember: a million great ideas times zero market presence equals zero success.

Investors want to know there is public interest and enthusiasm in a project before they commit any money to it. As a cryptopreneur, you are tasked with generating that interest from the…

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Elite