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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.

Image courtesy of Maxpixel.net

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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