Tag: Litecoin

Price analysis 4/19: BTC, ETH, BNB, XRP, DOGE, ADA, DOT, LTC, BCH, UNI
Bitcoin, Litecoin, Price Analysis - Top 10 Crypto

Price analysis 4/19: BTC, ETH, BNB, XRP, DOGE, ADA, DOT, LTC, BCH, UNI

During strong uptrends, the best practice is to buy on significant dips as profits are produced when the price quickly rebounds from oversold conditions.  This appears to be what happened on April 18 as traders jumped at the opportunity to buy Bitcoin and altcoins at lower levels.However, no market can keep going up in a straight line and periodic corrections and phases of consolidation are needed as they drive away the speculators who only jump in and use high leverage when they sense an opportunity to get rich quickly. The sharp rise in Dogecoin’s (DOGE) price and the huge addition of subscribers in Dogecoin and other cryptocurrency subreddits last week indicate that there is an influx of novice traders who are dreaming of making easy riches. Daily cryptocurrency market performance....
Price analysis 4/16: BTC, ETH, BNB, XRP, DOGE, ADA, DOT, LTC, UNI, LINK
Bitcoin, Litecoin, Price Analysis - Top 10 Crypto

Price analysis 4/16: BTC, ETH, BNB, XRP, DOGE, ADA, DOT, LTC, UNI, LINK

Dogecoin’s (DOGE) massive rally to $0.45 propelled it to a market capitalization of over $54 billion to make it the fifth most valuable cryptocurrency by market cap. This lofty market cap comes as a surprise to many since the project has no active developers and is only a meme coin, thus the current rally brings back memories of the excesses seen during the ICO boom in 2017.Rallies like the one seen in Dogecoin indicate that several traders have entered the fray and are looking to get rich overnight. The only positive sign is that the mania has not spread to other coins. If it does, then the crypto markets are likely to witness a sharp correction in order to shake out the weak hands.CNBC host Jim Cramer has become one of the first well-known people to reveal that he closed half of his...
Price analysis 4/14: BTC, ETH, BNB, XRP, ADA, DOT, UNI, LTC, DOGE, LINK
Bitcoin, Litecoin, Price Analysis - Top 10 Crypto

Price analysis 4/14: BTC, ETH, BNB, XRP, ADA, DOT, UNI, LTC, DOGE, LINK

Coinbase (COIN) listing on Nasdaq could eventually boost cryptocurrency adoption and attract droves of institutional investors. However, that is unlikely to happen immediately. In the first few days after the listing, volatility could be high as Wall Street tries to value Coinbase. This could also increase the volatility in cryptocurrencies. Sharp movements in the price of Bitcoin (BTC) could also result in liquidations of leveraged positions in the derivatives market. The massive $27 billion in Bitcoin futures open interest and $8 billion in Ether (ETH) futures open interest indicate that a spike in volatility could chop several traders.Daily cryptocurrency market performance. Source: Coin360PlanB, the analyst behind the popular stock-to-flow price model for Bitcoin, cited the m...
Price analysis 4/12: BTC, ETH, BNB, XRP, ADA, DOT, UNI, LTC, LINK, XLM
Bitcoin, Litecoin, Price Analysis - Top 10 Crypto

Price analysis 4/12: BTC, ETH, BNB, XRP, ADA, DOT, UNI, LTC, LINK, XLM

Bloomberg Intelligence senior commodity strategist Mike McGlone equated the current consolidation in Bitcoin (BTC) price to that of a “caged bull, well-rested to escape.” When compared with the rallies a year after the previous two Bitcoin halvings in 2012 and 2016, the strategist called the current price action “tame.’ According to McGlone, Bitcoin is “still in price-discovery mode” and its plateau is still far away.While Bitcoin remains in focus, altcoins have continued to steal the show. Bitcoin’s market dominance, which stood closer to 70% on Jan. 4 has continued to slide even though its price has risen more than 104% year-to-date. The current market dominance at 54.3% is the lowest since April 2019 according to data from CoinMarketCap. This suggests that several altcoins are outperfor...
Price analysis 4/9: BTC, ETH, BNB, XRP, ADA, DOT, UNI, LTC, LINK, THETA
Bitcoin, Litecoin, Price Analysis - Top 10 Crypto

Price analysis 4/9: BTC, ETH, BNB, XRP, ADA, DOT, UNI, LTC, LINK, THETA

Hong Kong tech company Meitu revealed on April 8 that it had added $10 million worth of Bitcoin (BTC) to its holdings which were purchased at an average rate of $57,000 per coin. After the latest purchase, Meitu’s total cryptocurrency portfolio consists of $49.5 million worth of Bitcoin and $50.5 million worth of Ether (ETH). This acquisition shows that institutional investors are confident that the rally in Bitcoin is still in its early stages.Tom Jessop, Fidelity’s head of the crypto division, believes that Bitcoin has reached a tipping point and that traditional finance companies will continue to adopt cryptocurrency aggressively in the next few years. Jessop believes the massive monetary stimulus from governments and central banks has accelerated institutional adoption and this is a tr...
Price analysis 4/7: BTC, ETH, BNB, XRP, ADA, DOT, UNI, LTC, LINK, THETA
Bitcoin, Litecoin, Price Analysis - Top 10 Crypto

Price analysis 4/7: BTC, ETH, BNB, XRP, ADA, DOT, UNI, LTC, LINK, THETA

According to CoinShares, the institutional inflow into crypto products hit $4.5 billion in Q1, which is 11% higher than the intake seen in Q4 2020. This shows that institutional interest is on the rise but the quarter-on-quarter growth has slowed down from the 240% recorded in Q4 2020. As Bitcoin price moves higher, more funds are needed to sustain the levels. Therefore, if institutional inflows do not pick up in the next few days, Bitcoin (BTC) and other altcoins could witness a major correction.Daily cryptocurrency market performance. Source: Coin360The next correction could test the resolve of institutional investors and even though these investors have deep pockets, some may have jumped into crypto only for quick speculative gains. There is always the possibility that investors ma...
Price analysis 4/5: BTC, ETH, BNB, DOT, ADA, XRP, UNI, LTC, LINK, THETA
Bitcoin, Litecoin, Price Analysis - Top 10 Crypto

Price analysis 4/5: BTC, ETH, BNB, DOT, ADA, XRP, UNI, LTC, LINK, THETA

The total crypto market capitalization reached the important milestone of $2 trillion on April 5. As cryptocurrencies increase in value, they are likely to attract further investments from institutional investors because they can no longer afford to neglect it. Less than three months ago, the crypto market had reached the $1 trillion in market cap for the first time ever. This rate of growth shows that investors are hugely bullish on the potential of the sector and the ones who delay their investment decisions may have to enter at much higher levels.Ark Invest founder and CEO Cathie Wood is well known for identifying disruptive technologies and the firm is backing Bitcoin (BTC) to do just that. Yassine Elmandjra, a crypto asset analyst at Ark, said Bitcoin was “100 times better” than ...
Price analysis 4/2: BTC, ETH, BNB, ADA, DOT, XRP, UNI, LTC, LINK, THETA
Bitcoin, Litecoin, Price Analysis - Top 10 Crypto

Price analysis 4/2: BTC, ETH, BNB, ADA, DOT, XRP, UNI, LTC, LINK, THETA

According to a recent research note by JPMorgan, institutional investors have withdrawn about $20 billion from their gold investments since mid-October and during the same time frame, institutional inflows into Bitcoin (BTC) have increased by $7 billion. The bank said, “any such crowding out of gold as an 'alternative' currency implies big upside for Bitcoin over the long term."JPMorgan believes that Bitcoin’s declining volatility could increase adoption from institutional investors. If that happens, the value of the private investments in Bitcoin may mirror that of gold and this gives Bitcoin an upside target of $130,000 in the long term, added the bank.Daily cryptocurrency market performance. Source: Coin360In other news, billionaire investor Mark Cuban said his crypto portfolio con...
Payments firm Nuvei launches support for 40 cryptos including Reddcoin and DOGE
Bitcoin, Litecoin

Payments firm Nuvei launches support for 40 cryptos including Reddcoin and DOGE

E-commerce merchants can now transact in nearly 40 cryptocurrencies through global payment platform Nuvei. According to the announcement, merchants partnered with the payment provider can use an array of cryptocurrencies to send and receive payments across 200 countries, including top assets Bitcoin (BTC) and Ether (ETH), lesser known cryptos such as Reddcoin and Bitcoin Gold, and even hyper-volatile coins like Dogecoin (DOGE).Nuvei’s customers can even use Ripple (XRP), despite the asset’s recent legal woes and subsequent delistings from major exchanges.Commenting on the launch, Nuvei’s CEO and chairman, Philip Fayer, described the firm’s support for crypto assets as “empower[ing] our clients, large and small, with frictionless payment experiences and a greater opportunity to partake...
Litecoin is trading at a 1,800% premium via Grayscale’s LTC trust — But why?
Litecoin

Litecoin is trading at a 1,800% premium via Grayscale’s LTC trust — But why?

Shares in Grayscale Investments' Grayscale Litecoin Trust, or LTCN, have been trading at a whopping 1,800% premium over the market rate of their underlying asset, Litecoin (LTC).$319 per Litecoin? This difference is primarily due to retail investors' inability to purchase shares directly from Grayscale Investments, whose funds are aimed exclusively at accredited investors.LTC holdings per LTCN share (orange) and premium (blue). Source: Bybt.comIt costs $319 to buy a share in Grayscale Litecoin Trust. However, its LTC holdings per share are currently worth just $16.42. That means it's almost 20 times more expensive to buy Litecoin via the trust than regular spot exchanges.LTCN shares have recently traded for as high as $496 in November 2020 — 38% above Litecoin's highest closing price ...