DApp blockchain network Vite setups testnet incentive plans
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DApp blockchain network Vite setups testnet incentive plans
Vite Labs, which is set to launch its testnet for their decentralized application platform has announced incentive plans for participation. The incentive plan will kick off after the testnet is launched, and after Vite releases a system for…
Enjin smart wallet update will allow users to melt and send ERC-1155 tokens
Enjin Smart Wallet, a mobile cryptocurrency wallet that utilizes NSA-grade encryption, has announced that its next update will enable users to melt down ERC-1155 tokens into Enjin Coin (ENJ), allowing developers to back their assets with ENJ…
News – CCN
Chinese Civil Court Rules bitcoin as Legally Protected Property
A case involving almost half a million dollars in cryptocurrency led to an important new precedent in China. A high Chinese court, the Court of International Arbitration, ruled that bitcoin and other cryptocurrencies are valuable personal property and are therefore protected under existing Chinese law. The court also stated that there is no law on …
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Bottomed? bitcoin is Quieter Than Ever with Lack of Volatility: A Good Sign?
The cryptocurrency markets have made headlines for their volatility, which has caused wild price swings, which has led to opportunities for a tremendous amount of both profit and loss. However, that does seem to be changing, as the most well-known digital currency in the world seems to be going through a quiet phase. Specifically, bitcoin …
Blockchain on Medium Oct. 15 Live Review: “The trend is starting, the centralized exchange giant Bithumb is launching… On the evening of Oct. 15, Tony Sun, the Chairman of ONEROOT Foundation, was invited to participate […]
It looks like bitcoin’s cousins, Litecoin and Ethereum are getting their groove back. Meanwhile, bitcoin may have finally hit a temporary ceiling. LTCEUR rode on a three-day bullish wave. You know how much I love analyzing the market sentiment using the . So let’s dig in and see what’s next for our favorite cryptocurrencies.
LTCEUR Crosses Above Ichimoku Cloud
After two whole weeks of inside the cloud’s daily setup, LTCEUR finally confirmed above the cloud on Thursday. Not only that, the Kijun line appears to just be crossing above the Tenkan line.
LTCEUR-Daily-Chart-Ichimoku-Fibonacci-Analysis
The downside of this fairy-tale story is that LTCEUR is now hit by the 23% Fibonacci resistance level at 57.92. The future cloud is slightly bullish but mostly flat. Now market participants are looking to see if the 23% Fibonacci holds.
What’s Going On in Litecoin’s World?
As I mentioned in my , the Litecoin rally started one week after South Korean Exchange, Coinone, added the cryptocurrency to its platform.
The exchange has reportedly processed $3.2 million worth of Litecoin in the first 24 hours of trading the cryptocurrency.
Coinone is one of the biggest cryptocurrency exchanges in the country. Korea is in fact, the world’s third-largest cryptocurrency market.
So the recent surge could be fuelled by the volume the exchange brought about by offering trades in Litecoin versus South Korean currency. Volumes on Bithumb, one of the biggest exchanges in South Korea, have also gone up.
However, this may not be the only reason why Litecoin price is going up.
bitcoin’s cousin may be seen as a safe haven for market participants amid the uncertainty surrounding the Segwit2x hard fork. With that, let’s see what bitcoin has been up to.
bitcoin Pulls Back after Developers Call Off Plans to Split it
After showing yet another off-the-chart growth to hit the all-time-high level of $7,800, bitcoin erased most of this week’s gains on Thursday.
What could be behind the massive volatility? Probably the suspense of its controversial upcoming hard fork.
bitcoin was scheduled to upgrade on Nov. 16 following a proposal called SegWit2x, which would have split the digital currency in two. However, more and more major bitcoin developers dropped their support for the upgrade in the last few months. With that, on Wednesday, developers behind SegWit2x announced they are calling off plans for the upgrade. They are waiting until there is more agreement in the bitcoin community.
What Do the Technicals Say
I must admit, bitcoin has been one not really following traditional technical analysis measures. The main reason why is that bitcoin has started to be viewed more as an asset rather than a digital currency.
However, we could still say that the bitcoin price has hit a new resistance at $7,800. The support level is at $6,957.
As always, please keep in mind that trading cryptocurrencies could be very risky. Speculative trading is even riskier. Before entering a position, you must to be able to decide on the investment strategy that is suitable for your portfolio.
Blockchain Media Company Acquires the Beyond bitcoin Documentary at Cannes Film Festival Blockchain media company Slate Entertainment Group revealed its ‘seven figure deal’ on acquiring rights for a documentary about blockchain during the Cannes film […]
