Category Archives: Claim Coin

Double-Top Or Finally Break Above The 7200 3-Week High BTC Price Analysis

Bitcoin Price Facing Huge Decision: Bearish Double-Top, Or Finally Break Above The $7,200 3-Week High – BTC Price Analysis

The past days were promising for Bitcoin: After finally succeeding in breaking the $6800 resistance mark,

Bitcoin price had seen a decent run of $400 to the reach $7236 as the highest price since the March 12 collapse. As mentioned in our previous price analysis, while Bitcoin was trading around $6700: “we already identify bullish divergence, which can fuel the next move above.” The overall setting looks bullish on the 4-hour chart, going through healthy higher-lows trajectory. However, the mini bull-run from Thursday stopped at the same high from March 20. This might end as a double-top formation, which is a bearish pattern that marks short-term top. The latter will invalidate once Bitcoin breaks above the $7200 area and build demand around it. What we saw on Thursday is a nice tryout, but many sellers were waiting around the $7200 level, what quickly pushed Bitcoin back down to the $6600 – $6800 range. For the short term, Bitcoin found support upon the $6600 level, facing the $6800 – $6900 resistance area from above.

Total Market Cap: $189.9 billion

Bitcoin Market Cap: $123.8 billion

BTC Dominance Index: 65.2%

Key Levels To Watch & Next Possible Targets

– Support/Resistance levels:

As mentioned above, Bitcoin is now facing the familiar $6800 – $6900 resistance area. Further above lies $7000, followed by the $7200 price zone, which is defined as critical level for Bitcoin to prove short-term bullishness and cancel the double-top threat. If we see a new April high, then the next resistance should be around $7400, before reaching $7700. The last will mark a full recovery from the March 12 dump. From below, the initial level of support lies at $6600. Down below lies the $6300 – $6400 support area, followed by $6200.

– The RSI Indicator:

Despite the recent day’s bullishness, Bitcoin is still facing the crucial RSI level of 50. A bullish signal if, and only if, breaking back above the 50 RSI levels.

– Trading volume:

Thursday’s bullish run was followed by the highest amount of trading volume over the last ten days. However, the volume was still far below the March highs.

Article Produced By
Yuval Gov

Yuval Gov has over 15 years of trading experience in the stock exchange, graduated from TAU – Economics and Management. Fell in love with the crypto space. Does Crossfit to get away from FOMO.

https://cryptopotato.com/author/yuvalgov/

 

Thomas ClaimCo.in

Bitcoin Records Highest Price Since Crisis Began Sign For The Near Future? The Crypto Weekly Update

Bitcoin Records Highest Price Since Crisis Began, Sign For The Near Future? The Crypto Weekly Update

Bitcoin had a relatively good week of trading as it recorded its highest price since the coronavirus crisis began in March.

Yesterday, BTC peaked at above $7,200, marking an impressive daily run that sent the entire cryptocurrency market well in the green. The majority of altcoins were also charting double-digit increases. Since then, Bitcoin’s price retraced to where it currently sits at about $6,750. The important level to look for right now appears to be $7,000, and if the bulls manage to break it, they might aim for $7,500 next. This week there was also a major acquisition, arguably one of the biggest in the cryptocurrency field. Binance, the world’s leading exchange, acquired Coin Market Cap – the largest data monitoring resource in the field. The sum of the deal was undisclosed.

On another note, the novel coronavirus continues to cause a lot of damage to the markets. As many countries instituted mandatory and recommended lockdowns, legislation is also stalling. Russia, for example, delayed the passing of a bill which, interestingly enough, would prohibit cryptocurrencies to be used as a means of payment. Amid this economic uncertainty, stablecoins are taking the spotlight. There is a record-breaking amount of USDT circulating, as its number sits above 6 billion for the very first time. It’s perhaps somewhat expected in times of serious volatility. It’s interesting to see how this money will be deployed and if it would have an impact on the market.

The Biggest Crypto Acquisition? Binance Exchange Acquired CoinMarketCap For An Undisclosed Sum.

Binance, the world’s leading cryptocurrency exchange, acquired the biggest data monitoring resource Coin Market Cap for an undisclosed amount. Both entities will remain entirely independent, according to the official releases.

No April Fools’: $633 Million Worth Of Bitcoin Transferred For Just $0.26 Fee.

This week saw another example of the efficiency of Bitcoin’s network. A whale transaction for $633 million worth of BTC was carried out for an insignificant fee of just $0.26. The transfer was made by the cryptocurrency custody giant Xapo as an internal transfer.

Telegram Can’t Sell GRAM Tokens Even Outside The U.S., Judge Clarifies.

The saga with Telegram and the US SEC continues. A judge has recently clarified that the company behind the popular encrypted messaging app won’t even be able to sell GRAM tokens to residents outside of the U.S.

Sitting Aside: Record-Breaking 6 Billion Tether (USDT) In Circulation Following Major Bitcoin Price Volatility in March.

In times of economic uncertainty, investors tend to seek ways to protect their capital. This is perhaps the reason for which there are currently over 6 billion USDT in circulation – the highest amount in history.

Russia’s Legislative Ban On Cryptocurrency Delayed Because Of The Coronavirus.

Countries continue to suffer due to the spread of the novel coronavirus. A report came recently that Russia will have to delay legislation that would potentially see cryptocurrencies banned as a means of payments in the country.

Bitcoin’s Opportunity? The U.S. Dollar Losses Value Following The Record $6.2T Stimulus Package.

Because of the outbreak of COVID-19 and the effect it had on the global financial markets, the U.S. initiated a stimulus package that would see a total of at least $6.2 trillion printed. This had a negative effect on the dollar that temporarily lost value against the Euro and the GBP. Perhaps this is Bitcoin’s time to shine.

Article Produced By
George Georgiev

Georgi Georgiev is CryptoPotato's editor-in-chief and a seasoned writer with over two years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping.

https://cryptopotato.com/bitcoin-records-highest-price-since-crisis-began-sign-for-the-near-future-the-crypto-weekly-update/

Thomas ClaimCo.in

Bitcoincom Lays Off Half Of Its Workforce With Bitcoin Cash Halving Only 4 Days Away

Bitcoin.com Lays Off Half Of Its Workforce With Bitcoin Cash Halving Only 4 Days Away

Bitcoin.com Lays Off Half Of Its Workforce With Bitcoin Cash Halving Only 4 Days Away

It appears that gloomy days lie ahead for the Bitcoin Cash (BCH) camp. According to recent reports, Bitcoin.com has reportedly cut 50% of its workforce with only four days remaining until Bitcoin Cash’s halving.

Bitcoin.com Sacks 50% Of Its Employees

The coronavirus pandemic has wreaked havoc on companies all over the world. As a result, most of the companies are holding off hiring for the time being while others are downsizing their workforce. Notably, Bitcoin.com, which is at the forefront of championing Bitcoin Cash (BCH) has succumbed to the coronavirus pressures.  As per data from Condor, a professional network that is tracking hiring freezes and layoffs amid the coronavirus crisis, Bitcoin.com has laid off almost half of its staffers. Going by the information available on its official LinkedIn page, half of the 131 employees are now out of work. As ZyCrypto recently reported, the most recent price massacre on March 12 and March 13 had dire consequences on miners on the BTC, BCH and BSV networks. Miners on the two bitcoin forks are already moving to the BTC network. Analysts are predicting that this will go on especially with the upcoming halvings for the BTC offshoots. 

Impending BCH Halving The Reason For The Layoffs?

Mining on the BCH network, just like on BTC, is profitable as long as the prices remain high. However, since late-February this year, BCH has lost almost 32% of its value. The cryptocurrency is hovering at around $235.28 at the time of publication. At such painfully low prices, miners are earning mediocre returns for securing the BCH network. The situation could soon get a whole lot worse with the imminent halving.

The Bitcoin Cash network will undergo halving in four days’ time. Miners on the network currently receive 12.5 BCH for discovering new blocks, but they will start getting only 6.25 BCH after April 8. The reduced mining earnings will potentially add more pressure on the Bitcoin.com mining pool which is still reeling from the losses of the recent coronavirus-induced sell-off. This is possibly the reason why the company has slashed its workforce ahead of the BCH halving. Nonetheless, such an enormous downsizing is bad news for the BCH community. And with miners already migrating from the Bitcoin Cash network to the BTC network even before the April 8 halving, safe to say that BCH’s future is hanging in the balance.

Article Produced By
Brenda Ngari

Brenda is a crypto and Blockchain enthusiast and has been crafting articles for at least a year. She has a solid background in Economics and Finance. When she is not writing crypto stories, she’s spending quality time with her family and friends or trying out different cuisines in the kitchen.
 

Thomas ClaimCo.in

How the Bitcoin Price Reversal Proves Cryptocurrencies are Immune to Financial Market Shocks

How the Bitcoin Price Reversal Proves Cryptocurrencies are Immune to Financial Market Shocks

Bitcoin prices have reversed again above the critical $6,000 mark.

This has happened much to the chagrin of the naysayers. So many skeptics have said (both in print and on paper) that COVID-19 had imperiled cryptocurrencies. The great thing is that Bitcoin’s price reversal means that it is business as usual for the digital asset. It may even get better than previously thought. The stay-at-home restrictions have led to many unemployed on a global scale. Centralization is failing and new entrants to the crypto-space are just around the corner.

On March 12th, 2020, prices plunged below $4,000. It had little to do with the markets as there were no fundamental movements at the time. BitMEX suffered an attack from hackers. About $750 million was dissipated within a few minutes. The crypto space freaked out. We all know how the crypto space can be so incessantly volatile. That week was just another day in crypto land. In the real world, everyone was flying off the handle as well. The financial markets had gone to bits. The masters of the financial universe had turned to hobos, looking for a place to perch on and perhaps thought that the crypto space was a great place to roost.

They also said that the cryptocurrency world is gone as well. Mass-market psychology doesn’t apply to cryptocurrency markets. The prime reason is that cryptocurrencies currently can never go totally to zero both in quantity and price. Yes, it can go to the negative territory for a minuscule fraction of tokens, but the possibility of recovery always exists from a mathematical perspective. The futures markets cleared earlier this week and things went back to normal. Liquidity was restored and everyone is wondering when Bitcoin will test $10,000. Investors still have confidence in cryptocurrency markets due to their trustless nature. Thus, the “safe-haven” status still stands.

Article Produced By
Christopher Haruna Hamman

Christopher is a Freelance content developer, Crypto-Enthusiast and tech-savvy individual. He is also a Superstar Content Developer, Strategy Demigod, and Standup Guy.

https://zycrypto.com/how-the-bitcoin-price-reversal-proves-cryptocurrencies-are-immune-to-financial-market-shocks/

Thomas ClaimCo.in

Huobi Wallet Users to Access Crypto Lending Services via Cred LBA

Huobi Wallet Users to Access Crypto Lending Services via Cred (LBA)

Huobi Wallet, the multi-cryptocurrency wallet from the stables of Huobi Group has inked a strategic partnership deal with Cred (LBA), to enable users to access crypto lending and borrowing services straight from their wallets, according to a blog post report on April 1, 2020.

Crypto Lending Coming to Huobi Wallet

As stated in its blog post, Huobi Wallet has inked a deal with Cred (LBA), a United States-based crypto lending platform to enable users of the wallet to lend out their digital assets and earn monthly interests or borrow funds right from the wallet. Notably, the Cred crypto lending platform supports a massive 29 blockchain-based virtual currencies including bitcoin (BTC), ether (ETH), Litecoin (LTC) and others. With the partnership with Cred (LBA), users of Huobi Wallet will start enjoying crypto-based lending and borrowing in the summer of 2020. The team says in addition to earning monthly interest on their digital assets, lenders will also have the option to roll over their pledged assets for additional periods. Founded in 2017, Cred is powered by the Ethereum (ETH) smart contracts blockchain and backed by several heavyweights in the cryptoverse including Binance Labs, Blocktower, FBG Capital and others. Commenting on the Huobi-Cred alliance, Dan Schat, CEO and Co-Founder of Cred expressed his excitement over the deal,

adding:

“During times of financial instability, we’re delighted to assist a strong, reputable company, offering financial services to its customers.”

Huobi Promoting DeFi

Unlike some crypto lending platforms, Huobi says its crypto lending service creates a level playing field for everyone as there are no minimum lending or borrowing requirements and participants can receive their interest in both stablecoins and regular cryptos. What’s more, Huobi wallet users whose bitcoin and altcoins holdings are up to $150K can request for customized lending or borrowing plan with Cred’s Private Client Associates. It’s worth noting that Huobi Group has been supporting the DeFi movement for quite some time now.

As reported by BTCManager earlier in August 2019, Huobi Wallet announced support for MakerDao and Compound. Distributed ledger technology (DLT), the solid foundation behind bitcoin (BTC) and other cryptoassets is expanding in uses cases with each passing day and the DeFi ecosystem is contributing its bit  towards accelerating blockchain adoption, At present, there are more than 20 credible crypto lending platforms in existence, including Nexo, Crypto.com, Salt Lending, BlockFi, Celsius and more.

Article Produced By
Ogwu Osaemezu Emmanuel

https://btcmanager.com/huobi-wallet-crypto-lending-services-cred-lba/?q=/huobi-wallet-crypto-lending-services-cred-lba/&

Thomas ClaimCo.in

Bithumb Debuts Crypto Margin Trading Service with 5x Leverage

 
Bithumb Debuts Crypto Margin Trading Service with 5x Leverage

Bithumb global has announced to its users, the launch of the platform’s crypto margin trading service for Bitcoin (BTC) and Ether (ETH) against Tether (USDT).

Details of the Bithumbbrin Global Margin Trading Service

In a blog post published on its website, Bithumb Global — the international arm of the South Korean Bitcoin exchange behemoth announced the launch of its margin trading service. According to the press statement, the platform’s margin trading supports BTC and ETH trading pairs with USDT as the base currency. Bithumb Global users can access the margin trading feature via both desktop and mobile channels with apps for iOS and Android smartphones. The launch of the margin trading channel comes following temporary system maintenance embarked upon on Thursday (April 2, 2020) to work on final pre-launch modalities. The Bithumb Global margin trading is capped at 5x leverage with the company revealing that its new feature is only available for users in countries where crypto margin trading is allowed. As previously reported by BTCManager, regulators in jurisdictions like the U.K. are moving towards outlawing leveraged cryptocurrency trading citing risks to retail investors. An excerpt from the Bithumb Global announcement addressing risks associated with

crypto margin trading reads:

“There are significant risks associated with trading digital assets. Please consider carefully whether trading digital assets are appropriate to your financial situation.”

Bringing Crypto to a Worldwide Audience

The launch of crypto margin trading is only one-half of a promised imminent double dose of new features on the platform with the other being crypto futures. In February, the platform unveiled a new asset transfer service that allows users to move crypto funds between Bithumb and Bithumb Global. According to the company’s statement at the time, Bithumb Global is moving towards full-spectrum service delivery for all aspects of crypto commerce include security token offerings (STOs) and blockchain incubation. In similar news, earlier this year on January 7, 2020, BTCManager reported how Bithumb crypto exchange had established a blockchain R&D center in South Korea to further ramp up its efforts to leverage the emerging technology to help provide better services and offerings to its customers.

Article Produced By
Osato Avan-Nomayo

Osato is a Bitcoin enthusiast with a flair for writing. When he isn't providing unique perspectives on the current happenings in the industry, he can be found pouring over old books on history and philosophy or trying to beat his Scrabble high score.

https://btcmanager.com/bithumb-crypto-margin-trading-service-5x-leverage/?q=/bithumb-crypto-margin-trading-service-5x-leverage/&

Thomas ClaimCo.in

Bitcoin amp Bitcoin Cash Holders More Profitable Than Ethereum amp Litecoin Holders

Bitcoin & Bitcoin Cash Holders More Profitable Than Ethereum & Litecoin Holders

Judging from a blockchain analysis tool that works across a range of digital assets,

the majority of holders of both bitcoin (BTC) and bitcoin cash (BCH) seem to be still “making money.” Ethereum (ETH) and litecoin (LTC) users are not so lucky. The new set of tools, developed by blockchain analytics firm Into The Block and recently added to the crypto market data provider Coinpaprika, provides several insights, ranging from things like what percentage of holders that have made money, to the share of holders that are defined as “whales,” and the composition of holders by time held. As defined by IntoTheBlock, holders that have a positive difference between purchase price and current price are defined as being “in the money.” In the case where there is no difference, the holder is said to be “at the money,” while holders at a loss are “out of the money.”

Bitcoin

Looking at bitcoin, we can see that nearly half of all wallet addresses on the network are in the green on their fiat balance, and are thus said to be in the money. This is normally seen as a bullish sign for any cryptoasset, as it tends to boost the sentiment surrounding the asset. Further, 11.5% of bitcoin holders are defined as being “large,” meaning they own more than 1% of all circulating coins. As the most widely used cryptoasset that is held by a large number of people, this number is naturally lower for bitcoin than for most other coins in the market. At pixel time (11:48 UTC), BTC trades at c. USD 6,664 and is down by 25% in a month, trimming its annual gains to 33%.

Ethereum

Moving over to the second-most valuable cryptoasset, ethereum (ETH), we can see quite a different picture, with only a minority of holders currently being in the money. In addition, this major blockchain platform also stands out from bitcoin by having a much larger concentration of whales on its network, with more than 40% of holders being defined as “large.” ETH trades at c. USD 138 and is down by 40% in a month and 18% in a year.

Bitcoin Cash

Similar to ethereum, bitcoin’s hard fork bitcoin cash also has a bigger concentration of large holders than the number one digital asset. BCH holders also seem to have done a good job with the timing of their investment, with a whopping 84% of holders currently in the green in fiat terms. BCH price stands at c. USD 228 and is down by 32% in a month and by 13% in a year.

Litecoin

Lastly, litecoin (LTC) is – along with ethereum – seeing a much smaller share of holders that are profiting at the moment, with 13% of them being in the money. Also similar to ETH, litecoin has a relatively high concentration of large holders, with almost half of all holders being defined as whales. LTC trades at c. USD 40 and is down by 36% in a month and by 52% in a year.The important thing to know about “large holders,” however, is that it’s not so much the actual number that matters, but the direction it is moving in. In general, it is considered bullish if the concentration of large holders of a cryptoasset increases, and bearish if the concentration decreases.Like for the concentration of whales, it is not so much the share of people who are in the money that matters, but the change in that number over time. In the case of all four cryptoassets, the change of “in the money” holders is currently slightly negative.

Article Produced By
Fredrik Vold

Fredrik Vold is a regular contributor to Cryptonews.com, covering cryptocurrency and blockchain related news on a daily basis. His area of expertise is the cryptocurrency markets, and his portfolio includes cryptocurrency and blockchain related analysis pieces. He's also a trader, financial writer, and technical analysis enthusiast, who closely follows not only cryptocurrencies, but also the stock and forex markets. Fredrik is the founder of LUVO Content Marketing, a finance-focused online marketing agency.

https://cryptonews.com/news/bitcoin-bitcoin-cash-holders-more-profitable-than-ethereum-l-6194.htm

Thomas ClaimCo.in

Bitcoin Merchant Resilience Amid Pandemic Surprises Analysts

Bitcoin Merchant Resilience Amid Pandemic Surprises Analysts

Analysts are surprised by the resilience of the bitcoin (BTC) merchant services,

as well as by the lower drop in purchasing than expected. Furthermore, each of the three categories they inspected, reacted in their own way to the coronavirus-caused economic crisis. Blockchain and analytics specialist Chainalysis observed the effects of COVID-19 pandemic on the consumer side of bitcoin – on those people who use their BTC to buy goods and services, instead just to speculate. They looked at three service categories – merchant services, gambling services, and darknet markets – to observe the change of transaction patterns. Chainalysis discovered that the amount of BTC being used in all three service categories dropped "significantly" since March 9, the week of the market crash, but not in an expected way. While spending less in a financial crisis sounds logical, the longer-term trends suggest that this is actually unexpected behavior.

There was a change in the level of correlation for each category, and merchant services have seen their revenue to bitcoin price correlation decline. As these services are a convenient way for people to spend their BTC, when the price is higher, they spend more, meaning that there is usually a high correlation with BTC price."While merchant services purchasing has dropped, it hasn’t dropped nearly as much as we would’ve previously expected, as the correlation between merchant services activity and Bitcoin price has fallen by nearly half," Chainalysis said, adding that these services have proven more resilient than expected. The analysts say that one reason behind the smaller drop in merchant services activity than expected could be that people have continued using their crypto to buy through merchant services those essentials that they can’t buy elsewhere with fiat.

Meanwhile, the correlational relationship has reversed in darknet markets. Now, revenue has become more correlated with Bitcoin’s price in darknet markets, meaning that these markets have had "unexpectedly steep revenue declines since bitcoin’s price began to drop." But, as they had a small inverse correlation with bitcoin’s price pre-crash (meaning, the service receives less BTC as price rises and more when the price decreases), it would've been more expected that they had somewhat higher sales following the drop. Disruptions to global supply chains caused by the pandemic could be causing issues for the darknet market vendors’ business, for example, selling drugs. On the other hand, gambling service have also seen a fall in BTC flows since the week of the crash. However, gambling usage started to drop "some time after the bitcoin price drop, and continued to fall even when bitcoin’s price started to recover." Even in the pandemic, at least so far, the correlation in this category remains as it always was – "virtually non-existent."

Article Produced By
Sead Fadilpašić

Sead is a staff journalist at Cryptonews.com who covers cryptocurrency and blockchain news daily, writes analysis pieces, tests blockchain and cryptocurrency products. He's based in Sarajevo, Bosnia and Herzegovina. Prior to joining Cryptonews.com he was a freelance, also was a journalist for Al Jazeera web. He spends his free time in music studios, recording songs for movies and cinema. Loves to break gadgets so he could fix them, enjoys exploring new music and loves tasty and equally unhealthy food.

https://cryptonews.com/news/bitcoin-merchant-resilience-amid-pandemic-surprises-analysts-6190.htm

Thomas ClaimCo.in

Cryptocurrency News Today Headlines for April 1

Cryptocurrency News Today – Headlines for

April 1

 
  • Crypto executive explains the issue with Tether

  • Tether’s USDT stablecoin volume has risen remarkably

  • Over-the-counter traders have helped push Tether’s volume

Cryptocurrency News Today – despite a recent strong downturn for cryptos, which included Bitcoin’s 50% decline on March 12, the sum of Tether’s USDT stablecoin (volume) in existence has since exploded. The report says the market cap of the asset has now surpassed $6 billion. This means a total of $1 billion has added to this metric over the last two weeks. In a $200 billion industry, such inflows can be termed as dramatic. Besides, alternative stablecoins Paxos Dollar, USD Coin, and Binance USD pairs have posted dozens of millions. The question is what is driving the demand for stablecoins?

What Pushed Tether’s Market Cap Higher?

Sam Bankman-Fried, the CEO of FTX and Alameda, recently talked about Tether. Here are the factors he suggested:

  1. Over-the-counter traders (from Asia) are acquiring USDT. It is well known that Chinese traders utilize Tether because they do not have full access to the crypto markets. Some see USDT as a good way to send money globally even if you don’t want to deal with Bitcoin.
  2. People are selling off their Bitcoins for USDT hedges.
  3. People are selling off their Bitcoin for USDT to reduce their risk levels.

According to the Commentator, these factors are driving up the value of USDT and its supply.

What’s Next for BTC?

Even though most of Tether demands have risen due to sell-side demand instead of investors trying to purchase BTC with Tether, the strong rise in blockchain dollars may boost the market value of the crypto in the future. Charles Edwards, a cryptocurrency manager, cited in January that big changes in the market cap of Tether have made Bitcoin’s price in the last one and a half years. This was proven true when the price of BTC rallied to as high as $10,500 in mid-February after the pseudo-indicator spotted a month before.

Before the 50% crash in November 2018, the sum of USDT in circulation fell by hundreds of millions. Additionally, before most of 2019’s 330% rally became the printing of hundreds of millions USD worth of the coins. This record-level of USDT printing currently happening would suggest that the price of Bitcoin will soon see a record rally. This makes sense fundamentally although there are some details regarding how you can deposit the USD and receive USDT in return. Introducing fiat into the industry via stablecoins should act as a catalyst for BTC’s growth when holders of USDT sell their tokens for BTC or any other digital currency.

Article Produced By
Princess Ogono

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

https://smartereum.com/187294/cryptocurrency-news-today-headlines-for-april-1/

Thomas ClaimCo.in

Litecoin News Today LTC Price to See Short-term Losses Before Any Major Gains April 1st 2020

Litecoin News Today – LTC Price to See Short-term Losses Before Any Major Gains – April 1st, 2020 

 
  • Litecoin price to see losses before posting gains

  • Litecoin price in a make-or-break position

  • Charlie Lee to shift focus to crypto payments and privacy

Litecoin news today – In a new day of mostly sideways price action, a few digital assets have reported moderate gains. The tops coin’s like BTC and Litecoin have posted minor rises in value. Bitcoin gained 2% at the time this content was published as the leading cryptocurrency finds its way back to the $6,500 area. Meanwhile, Litecoin has posted slight earnings of under 1% (0.32%). The coin is now changing hands at $39.08.

Litecoin Price Prediction – The Litecoin Price Will Likely Sink Before Posting Gains

Analyst Alex Clay recently analyzed LTC’s price action. The trader believes that earnings for the digital asset are on the cards. According to the analysis the trader Litecoin price is rising in an ascending channel. The coin has fixed itself over the $39.03 area. Hence, he opted to take a bullish stance for the asset before setting price targets of $39.65 and $40.20 for Litecoin. Another analyst is known as Trading Alchemist also noted that Litecoin’s price has done well after moving from its support of $38.50. Although, he does not believe that Litecoin price will see much gains. Instead, the Trading Alchemist feels that Bitcoin’s performance will determine LTC’s next action. We will likely see LTC price test support at $36.50 and $37. Sharing the Trading Alchemist’s pessimistic outlook for the digital asset, analyst the Crpt Teddy Bear has also admitted that the market has been behaving unpredictably in recent times. Hence, until the Litecoin price can manage to break above the $39.67 area, the trader has chosen to go for a bearish position.

Litecoin Price Prediction – The Litecoin Price is At a Make-or-Break Point

The price action that LTC has seen in the last few weeks forced the Bollinger bands to squeeze via the 12-hour chart for LTC/USD. Since squeezes are a sign of strong breakouts, the point between the lower and upper boundaries is a no-trade zone. The support and resistance sit at $36 and $40. The outlook that Litecoin price presents is well represented in the 4-hour chart for the coin. At this time, a symmetrical triangle seems to be developing. There is a technical pattern that reveals indecision among the market’s participants before a coin’s price is forced to move positively or negatively. In other reports, during a recent episode of Cred’s Meet Our Partners, Charlie Lee, the founder of Litecoin said he plans to make LTC a fully-fledged currency. Lee explained, that the goal is to ensure that Litecoin is usable for our day-to-day transactions.

Article Produced By
Ufuoma Ogono

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

https://smartereum.com/187291/litecoin-news-today-ltc-price-to-see-short-term-losses-before-any-major-gains-april-1st-2020/

Thomas ClaimCo.in