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Litecoin Price Monster Run Continues as $100 Seems Within Reach

Litecoin price monster run continues as $100 seems within reach

Litecoin Price Monster Run Continues as $100 Seems Within Reach

Litecoin price monster run continues as $100 seems within reach


Positive market momentum is rather enjoyable to watch on a Saturday afternoon. At the same time, it tends to make a lot of people nervous, as they acknowledge this uptrend cannot be sustained indefinitely. At this rate, it seems to be a mere matter of time until the Litecoin price surpasses $100 again. There will be plenty of resistance before this happens, though.,

Where is the Litecoin Price Heading Next?

It would appear as if Litecoin has suddenly become the talk of the cryptocurrency industry in this week-long bull run. While other markets are gaining value as well it seems LTC does so in a more convincing and prominent manner. That is usually a good sign for bitcoin and other top altcoins as well, albeit there is always a chance this momentum disappears in the blink of an eye.

Over the past 24 hours, the Litecoin price rose by another 6.77% to reach $94.06. In terms of LTC/BTC, there is also an uptrend, albeit the 3.89% change is less significant compared to the net USD gains. With Litecoin slowly approaching the 0.02 BTC level once again, there is seemingly no shortage of bullish momentum at this time.

On social media, the Litecoin fans are coming out en masse when the momentum remains this promising. Litecoin Biker, for example, notes how LTC has nearly twice the trading volume of bitcoin Cash, one of the strongest risers among altcoins today. Even with more trading volume, it remains to be seen if Litecoin can hit $100 in the next few days.


Tarun Jain is looking at a slightly bigger picture where Litecoin is concerned. When zooming out on the price chart, it quickly becomes apparent this bull trend has been in place for quite some time now. So far, the past three months have resulted in more than respectable gains, which shows Litecoin is performing better than most other top markets out there.

For those enthusiasts who want a shorter time frame as far as the LTC price momentum is concerned, it seems there is nothing to be concerned about either. These past three days have yielded a very bullish uptrend for Litecoin, combined with more than sufficient trading volume to keep traders engaged.

While it remains to be seen how long Litecoin can remain as bullish as it is right now, a market reversal seems rather unlikely. A push to $100 seems more plausible, although it will be very difficult to reach that mental level as well. This weekend will be rather interesting from that perspective, albeit nothing is ever set in stone in this volatile industry.

Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.

Image(s): Shutterstock.com

Published at Sat, 06 Apr 2019 19:25:21 +0000

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After Second Hack This Year, South Korean Exchange Youbit Closes Down

After Second Hack This Year, South Korean Exchange Youbit Closes Down

South Korean exchange Youbit announced on its website today that it is closing down after a hack early Tuesday, December 19, 2017, that resulted in the loss of 17 percent of its assets.

The exchange, previously known as Yapizon, did not indicate how many bitcoins or other cryptocurrencies were stolen or what the total fiat value of the attack amounted to, but it was enough to lead to bankruptcy.

This was the second hack the exchange suffered this year. A prior attack in April 2017, resulted in the loss of 3,816 bitcoins, worth around $5 million at the time.

Youbit said hackers broke into its hot wallet, the online account used to pay out cryptocurrencies instantly. While hot wallets offer greater convenience, they also put funds at greater risk because they are connected to the internet.

The remaining coins were kept offline in a cold wallet, the exchange said, resulting in no additional losses. The exchange indicated that customers could withdraw up to 75 percent of their balances, and the rest would be tallied out after the final settlement.

Korea Internet & Security Agency (KISA), the state agency that responds to cyberattacks, is investigating the incident, as reported in Reuters. KISA has maintained that North Korean hackers were behind the first hack.

Chris Doman, threat engineer at software security company AlienVault, told bitcoin Magazine, he suspects BlueNoroff, a subgroup of North Korea’s cyber crime group Lazarus is responsible for the second Youbit attack. Lazarus is known for the November 2014 hack on Sony Pictures Entertainment, one of the biggest corporate breaches in history.

While attacks by Lazarus have mainly been aimed at social disruption, recent reports indicate the group is increasingly going after money. With the value of bitcoin surging to all-time highs, exchanges are becoming a lucrative target.

“The first time I saw them target a bitcoin company was in May this year — the same month they unleashed WannaCry,” Doman said in a statement shared with bitcoin Magazine.

The exchange that Doman was refering to is South Korean bitcoin exchange Bithumb. Around that same time, WannaCry ransomware attacks were encrypting user’s computers and offering to de-encrypt them in exchange for bitcoin. Analysis of the techniques used in the WannaCry attacks show strong links to Lazarus.  

Doman added, “They’ve also used related malware to opportunistically mine Monero coins on compromised servers. Clearly they have a large interest in cryptocurrencies as an easy method for economic gain, as well as an opportunity to economically weaken their enemies.”

Although Youbit is one of the smaller bitcoin exchanges, the hack underscores the risk involved in leaving funds on an exchange, where control of those funds is handed over to a third party and is only as safe as whatever security measures that exchange chooses to use.

Throughout the history of bitcoin, hacks have amounted to painful losses. When bitcoin exchange Mt. Gox began liquidation proceedings in April 2014, the company announced that approximately 850,000 bitcoins were missing, an amount valued at more than $450 million at the time. In August 2016, the bitcoin exchange Bitfinex announced hackers stole approximately 120,000 BTC, worth $72 million at the time.

The post After Second Hack This Year, South Korean Exchange Youbit Closes Down appeared first on Bitcoin Magazine.

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