Home / Crypto Currency / Litecoin Price Stabilizes Near $55 Before the Next Uptrend Materializes

Litecoin Price Stabilizes Near $55 Before the Next Uptrend Materializes

A lot of people had all but forgotten about Litecoin prior to the altcoin making some serious moves earlier in 2018. Although it may take a while until LTC surpasses $25 0again, the current momentum isn’t half bad either. Gaining stability at the $55 level will be the first priority right now, as its rising trading volume should make that possible. The small loss over Bitcoin can become a slight concern, though.

Litecoin Price Hits $55 at Last

Although this has been coming for some time now, Litecoin has struggled a bit prior to reaching $55. While its value has remained surprisingly stable between $45 and $50 for a long period, traders and speculators are always looking for the next leg up. In the case of Litecoin, the recent push to $55 has allowed for some interesting momentum, although it seems finding stability will become the next logical objective.

Over the past 24 hours, the Litecoin price has risen by another 1.2% in the USD department. Those gains are slightly offset by a net loss over Bitcoin, although that discrepancy isn’t necessarily disconcerting yet. A lot of altcoins are losing value against Bitcoin right now, although most of the deficits are below 0.5%. For Litecoin, this shouldn’t pose any real problems moving forward.

The big news is how Litecoin payments have come to Facebook Messenger users in the past few months. Lite.im is a major service which can make Litecoin payments a lot more mainstream, especially because digital transactions are on the rise globally. Although it remains to be seen how successful this service will be, it is a major step forward for LTC altogether.

Charlie Lee, the creator of Litecoin, is confident things will continue to improve for Litecoin in the coming years. His main objective is to ensure LTC is traded globally first prior to convincing merchants and companies to use this altcoin over other cryptocurrencies. That approach makes a lot of sense first and foremost, as liquidity needs to be established as quickly as possible.

For those seeking out technical indicators, it seems things are still looking very healthy for Litecoin right now. More specifically, there is a lot of upward potential waiting to be explored in the coming weeks, although that doesn’t mean there won’t be any major setbacks along the way. For the time being, the battle for control over $55 is still in place, which is not necessarily a bad thing.

All cryptocurrencies have seen a massive uptrend over the past few days. It is only normal the markets will need to catch their breath sooner or later. A small retrace or dip will materialize eventually, and it seems Litecoin may be one of the first markets to go through such a trend. Even so, the long-term uptrend is still in place, regardless of how things may look over the next 24 hours.

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.

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Bitcoin Cash Price Gets Skewed due to Exchange Trickery

A lot of confusing action is taking place where the Bitcoin Cash price is concerned. Although its actual decline in value is quite obvious for everyone to see, the real price of BCH is not necessarily what people can see on Coinmarketcap. This is primarily because numerous exchanges treat BCHABC as Bitcoin Cash already despite nothing being decided in terms of which chain will be the longest. Bitcoin Cash Value Fluctuates Heavily Depending on where traders look at, the price of Bitcoin Cash will be either close to the $400 level or down to $250-ish. That is quite a large gap between prices, yet one that is also very easy to explain. Bitcoin Cash, as people knew it before the fork, no longer exists. Most professional exchanges have also retired this price ticker, for the time being. As the hash war rages on, there are still a lot of unknown factors waiting to be addressed. Despite this ongoing kerfuffle, there is a net 5.76% decrease in the Bitcoin Cash price, and a 5.4% decline over Bitcoin. More specifically, that is what CoinMarketCap reports at this time, although this is not necessarily the case whatsoever. In fact, some exchanges are clearly jumping the gun by labeling BCHABC as BCH and thus dragging the Bitcoin Cash price down a bit more. Exchanges currently engaging in this activity include Bittrex and Coinex, neither of which plays a big role of importance when it comes to trading. However, based on the current value of BCH on Bitfinex and Gate.io, it seems a similar incident is taking place. One also has to keep in mind Bitcoin Cash was getting battered ahead of the network split as well. Most exchanges have halted trading of BCH indefinitely, primarily because the currency no longer exists. It is evident either BCHABC or BCHSV will take over that name in the future, but nothing has been decided at this point. As such, any trading referring to just “Bitcoin Cash” or “BCH” should be avoided, as most users can never be sure which currency is effectively being traded under this name. All of this skews the picture pertaining to Bitcoin Cash altogether. Coinmarketcap reports there is still $392m in trading volume for BCH, even though that is virtually impossible right now. With so many exchanges freezing deposits and withdrawals, it is evident actual BCH trading is no longer possible whatsoever. Virtually all platforms have deposits of BCHSV and BCHABC frozen as well, which only makes this market trend more confusing. It is safe to say the entire network split has been a bit of a mess first and foremost. In the case of Bitcoin Cash itself, that name will – under the current circumstances- not be used across exchanges for much longer. Instead, the two separate camps need to be treated as such first and foremost. Until things settle down – with might not necessarily happen anytime soon – the Bitcoin Cash price itself is pretty much irrelevant for most traders and speculators. 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. The post Bitcoin Cash Price Gets Skewed due to Exchange Trickery appeared first on NullTX.

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