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Is it possible to foresee Bitcoin’s trend by observing Ethereum and Litecoin? - Global Coin Report
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Is it possible to foresee Bitcoin’s trend by observing Ethereum and Litecoin?

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The trader’s mind is the same on any given marketplace. The fears and expectations regarding a commodities price at a particular time and period. But is there a direct correlation between the prices of Bitcoin, Litecoin, and Ethereum?

The response to that question varies quite a bit depending on the combination of which digital asset and the period. From our observations, there are several times where the three virtual currencies have moved in tandem with one another in regards to price even though Bitcoin is the undisputed leader of virtual currency.

For the past few years, the crypto space has witnessed several altcoins gaining relevance in the industry, among these altcoins include, Litecoin which was created in 2011 with the aim of being the second runners-up to Bitcoin’s gold. At present, Litecoin is the 7th largest virtual currency by market capitalization after Stellar, EOS, Bitcoin Cash, Ripple, Bitcoin and Ethereum.

What is the correlation between these three cryptocurrencies? This writing will try to look at the relationship Bitcoin has with Litecoin and Ethereum in trying to decipher their relationship.

Bitcoin and Litecoin

Although not being as rich as Bitcoin, Litecoin is younger, faster, cheaper, smarter, and fast-rising wealthy brother of Bitcoin. On the other hand, Bitcoin is the default virtual currency that had to go through all the troublesome experiences to rise to the top where it sits comfortably today. But even still, the two are brothers who share a lot of similarities with one another.

Launched in January 2009 and widely acknowledges as the world’s first virtual currency, Bitcoin allows investors to make financial settlements without the need for trusted mediators.

These settlements are confirmed and acknowledged by the platform nodes through the use of cryptography and later logged in a public distributed ledger called a blockchain.

Litecoin first surfaced on Github in October 2011as a branch of the Bitcoin Core client and is a few years younger than Bitcoin. According to their website, “Litecoin is a peer-to-peer internet currency that enables fast, almost free cost settlements to anyone around the Globe.”

Many observers have accused Litecoin of the intention of replacing Bitcoin as the top significant virtual currency in the market, but Litecoin’s team have been consistent in stating that their main intention is to work with Bitcoin to aid in solving the world’s future settlement needs.

Bitcoin and Ethereum

Ethereum is another virtual currency that was developed to follow the footsteps of Bitcoin. Created and developed by a Toronto programmer and BTC enthusiast, Vitalik Buterin. He saw it fit to come up with his blockchain technology and virtual currency to compete with Bitcoin in the crypto market to be used as a financial asset and a decentralized platform for decentralized apps, Dapps.

Regarding scalability and transaction speed, both Bitcoin and ethereum have been experiencing a platform clog due to high user transaction giving Litecoin an upper hand.

All three cryptocurrencies have made entirely different design selections, and as with every decision and choice, it opens opportunities while it closes others. It is true that both Litecoin and Ethereum sometime dictate the performance of Bitcoin but the vise versa is usually true most of the time.

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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.

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Top 3 Crypto Trends That Might Go Big in Q2 2019

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So far 2019 has brought a significant change to the crypto industry. Q1 of this year has seen the rise of the idea of IEOs, the crypto space has finally managed to shake off the bears, and numerous coins throughout the industry have seen their prices grow once again.

The latest rally happened only several weeks ago, and it allowed Bitcoin to surge up by $1,000. Most other coins followed in their own way, but the investors are now wondering what to expect out of Q2? The Q1 started off badly, but it ended up being extremely successful. The chances are that history might repeat itself in the second quarter, as there are some key trends that might point the way for the further development of the crypto market.

1. The rise of IEOs

Back in 2017 and early 2018, ICOs (Initial Coin Offerings) were everything that the crypto space was talking about. Their popularity allowed startups to raise billions upon billions of dollars. Soon enough, however, that ended in a pretty bad way. STOs (Security Token Offerings) emerged as an alternative that does not depend on trust, follows regulations, and it actually holds value. However, asset tokenization might still be in its early stages, and this is something that might come back at some point in the future.

In 2019, however, IEOs (Initial Exchange Offerings) started attracting the…

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The Crypto Space Once Again Divided Over Bitcoin SV

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The crypto community is a strong one, one that managed to bring digital currencies from nothing to an industry worth hundreds of billions of dollars. However, while its strength in this regard is undeniable, the crypto community can be just as fragile given the appropriate conditions. With that in mind, the conditions seem to have been set for a new divide, although the cause is once again the same — Dr. Craig Wright and his Bitcoin SV (BSV).

Craig Wright vs. the (crypto) world

Dr. Craig Wright, the chief scientist at nChain, and the creator of Bitcoin SV. has been a well-known and very controversial figure in the crypto industry. Wright was suspected of being Bitcoin’s creator several years ago, which is possible because no one knows who is behind the name ‘Satoshi Nakamoto.’

Wright was believed to be him, and one theory claimed that he and his friend were responsible for giving life to BTC. However, the theory quickly died out, but not before Wright seemingly liked the idea of assuming the mantle of Nakamoto. He himself started claiming to be Bitcoin’s mysterious creator ever since.

Of course, he managed to gather up some followers, but the majority of the crypto community — while confused — did not believe him. Luckily, there is no need for trust, and Wright should easily be able to prove that he…

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Are XRP and Ripple Going to Be Worth Anything by the End of 2019?

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One surprise recently was when XRP took over Ethereum’s long-held second place in the Market Cap leaderboards. It quickly went back to its traditional and respectable third place behind Ethereum, but it could be a sign of things to come.

XRP has a lot of clout in the market because of the platform it is based on, which is Ripple. A coin that is used for a very specific purpose and with a long term goal in mind is always going to fare better than others. Litecoin, Bitcoin Cash and others have come about because of disagreements in Bitcoin. Therefore they offer nothing except an alternative to Bitcoin as a pure cryptocurrency, while Ripple (and XRP along with it) has something tangible behind it.

Big Banks Back Ripple

Ripple was created in 2012 for a specific reason. It aimed to become a faster and more efficient method to transfer value between banks and countries. This value can be almost anything from currencies to other instruments. While initially, banks were cautious about investing in the company, recently they have been lining up. The crypto winter has helped with innovation int he industry and Ripple has benefitted immensely for it.

The various payment solutions based on Ripple such as xRapid and xCurrent are seeing a large uptake, and this is having an amazing effect on XRP as a whole.…

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