The latest price of Litecoin (LTC) is going through a difficult period once again. After reaching $64.42 mark last week, LTC experienced losses once again. Most of these losses came on Friday afternoon, with Litecoin’s value dropping below $60.
Litecoin news revolves around a delicate balance
This newest price drop came as the coin lost momentum after reaching its three-week high. Saturday brought another small price surge that managed to bring LTC back to $60+, where it remained ever since. The struggle continued throughout the next several days, including Sunday, and even Monday.
Since the initial drop on Friday, most of Litecoin news has been following the struggle. Many have attempted to predict where the coin might go from here. Some believe that this is a beginning of a downward trajectory for LTC. Several nosedives that Litecoin has experienced already have not been very encouraging.
As always, there are optimistic coin holders who believe that this is only a minor bump on the road. They also claim that LTC will soon recover, and will even reach the $70 mark. Whether this can actually happen or not, still remains to be seen.
At the time of writing, Litecoin is balancing at $60.10, with a market cap of slightly more than $3.5 billion.
Recent Litecoin news brings positive development for the coin
The current Litecoin news is not very clear, and most investors are waiting at the edge of their seats to see what will happen next. Despite this, there were also some positive moves in the last few days. One of them includes LTC’s introduction to CoinText. This is a service that allows its users to send different cryptocurrencies by merely using mobile phone numbers.
CoinText allows users to send Bitcoin Cash, Dash, and even Litecoin, thanks to the recent decision. By doing this, CoinText aims to allow cryptocurrencies to reach even more people in an easy and interesting way.
— CoinText (@CoinText) September 30, 2018
In addition to this, recent Litecoin news also tells that the coin was added to an exchange called SFOX. This is an institutional-grade investment platform that is said to cater some larger investors. This includes investment professionals and even several institutions. The platform has listed only three currencies before the addition of Litecoin.
Litecoin’s Charlie Lee has greeted the move and has stated that the partnership will increase Litecoin’s liquidity. Even more importantly, it will expose LTC to institutional investors. Even SFOX itself is backed by many known investors, which confirms the quality of the company, its team, as well as its business model.
Clearly, Litecoin has had several big moves in the last few days. The new price struggle will likely result in the coin rising above the previous $64.42 milestone ultimately. At least, if optimistic predictions are to be believed. Judging from the new listings, there is certainly a possibility for these predictions to actually come true.
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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 Andreas Wagner on Unsplash
Blockchain-Focused ETF Arrives on London Stock Exchange
The crypto community is still waiting for the US SEC to approve Bitcoin ETFs, with speculation which application might get approval being one of the hottest topics in 2018. However, come 2019, the US government shutdown dragged on, and the Bitcoin ETF request which had the most potential to see a grant got withdrawn by the very companies that submitted the application.
While the question of BTC ETF remains hanging in the air, blockchain-focused ETFs seem to be a different matter entirely. In a recent announcement by an independent investment managed firm called Invesco, the company has stated that it was about to launch the largest blockchain-focused ETF in the world. They managed to go through with this plan, and the ETFs have reached the London Stock Exchange today, March 11th.
The exchange-traded fund includes a portfolio containing as many as 48 different firms which are bringing exposure to the emerging technology. Among them, there is Taiwan Semiconductor Manufacturing, which is a well-known creator of chips used for crypto mining, as well as the CME Group, which is the first regulated exchange in the US which launched Bitcoin futures. There are many other well-known companies as well, such as Intel, Microsoft, and others.
Chris Mellor, the Invesco’s head of ETF equity product management in Europe, said that blockchain has a huge potential to increase earnings, even though…
Could Jeff Bezos Turn to Bitcoin to Hide Fortune from Wife?
Amazon’s Jeff Bezos has made numerous headlines recently due to his overly-publicized divorce, which shows all signs of being one of the most expensive ones — if not THE most expensive one — in modern history. According to estimates, it might cost him as much as $70 billion, which will make his soon-to-be-ex-wife the richest woman in human history.
However, as the process continues to unfold, many have started wondering if things may have ended up differently for Bezos if he turned to Bitcoin for help.
Bitcoin as a divorce tool?
In the last several years — since Bitcoin and other cryptos hit fame — many have started turning to BTC during their divorce proceedings. In fact, it can even be said that using the largest cryptocurrency in this way has become a new trend. The trend has been gaining so much strength that numerous law companies started including advice on what to do in regards to Bitcoin as part of their websites.
However, while the trend has been picking up in recent years, it is nowhere near as easy as it might seem. For example, if there is even a suspicion of a spouse having undisclosed holdings appears during the divorce process, it might be enough to impact the final decision of the judge. In other words, even if there is a complete lack of evidence, but…
Three Biggest Things To Know Come Cryptocurrency Tax Season
In recent years, digital cash systems known as cryptocurrencies such as Bitcoin and Litecoin have exploded into the public eye. A blend of cash and stocks, their use and value has grown exponentially. In 2017, the IRS decided to focus great effort on taxing them. In theory, this should be as simple as calculating taxes on any other type of property, bond, or other assets. Cryptocurrency, however, presents a unique challenge. The full extent of one person’s crypto activity can stretch across dozens of platforms and take a variety of different forms. This makes it difficult to gather all of this information cohesively, much less begin the seemingly- complicated process of reporting it.
These three tips should help anyone looking to legally report their crypto activity to figure out where to start.
Documentation is key!
There are dozens of different “exchanges” individuals can use to change their cash into crypto. When the flat currency is changed into cryptocurrency at the exchange, you establish your cost basis. This makes this data crucial when you begin the process of reporting. Those who have used a variety of different exchanges should keep detailed records of everywhere that they made trades. Once tax season arrives, most exchanges will allow users to view their entire trading history with that exchange. This information will be necessary later to complete taxes.
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