The week is still young, but new milestones have already been made: the total market cap for all digital currencies has increased by a staggering $10 Billion in one week, now standing at the all time high of $38.1 Billion.
Bitcoin still has a market dominance of 60.1% but sports a new, all-time high of 1458 USD. The recent announcement of the SEC revisiting their decision on the Winklevoss’ ETF, along with Japan’s legalisation of Bitcoin and Russia’s tentative acceptance have all generated excitement in the market. The more world-wide acceptance Bitcoin receives – whether it’s through government announcements or tabloid magazines – the higher the price will rise.
Ethereum is also testing the waters, pushing past an all time high and crowning at 85 USD. This is almost certainly tied to the announcement of the SEC beginning their assessment of the ‘EtherIndex Ether Trust’ – an ETF for Ethereum. Ethereum is meeting some resistance, but should stay well above 75 USD for a few months to come – especially in the wake of the Proof-of-Stake switch, which should arrive at the end of 2017. Proof-of-Stake ensures that you can no longer ‘mine’ coins, only being able to mint new ones through a staking system. Consider it a form of lottery – the more Ethereum you have, the bigger your reward. We’ll post more details about this as soon as they’re available!
The ETF isn’t the only reason for Ethereum’s popularity boost – Spotify announced their acquisition of Mediachain Labs, a project heavily entwined into Ethereum’s ecosystem. Mediachain Labs have been working on an efficient way to store metadata for creative content; Spotify’s acquisition could hint at a new strategic move to ensure that not only do they step into the Ethereum ecosystem ahead of time, but begin experimentation with the blockchain before their competitors. A smart move for the savvy investor, and an even smarter move for the media conglomerate.
It is important to understand the technology behind each coin before making a decision to mine or invest. Genesis offers comprehensive guides on each coin, including bitcoin vs litecoin and ethereum vs litecoin.
Why Litecoin Will Skyrocket 140% in Less Than 3 Months & Hit $220
By CCN: The Litecoin price has enjoyed a breakneck bull run in 2019, launching the cryptocurrency nearly 200 percent higher in less than six months. But while cautious investors might be tempted to take their profits and run, a crucial upcoming event could send Litecoin another 140% higher over the next three months, enabling LTC to eclipse the $220 mark for the first time in more than a year.
The trigger from this mammoth ascent? Litecoin’s long-awaited “halvening,” which will slash block rewards by 50%, from 25 LTC to 12.5 LTC.
Historically, such halvenings (or “halvings”) have proven to be bullish catalysts for proof-of-work cryptocurrencies. As inflation decreases, investors anticipate a comparable increase in price.
Litecoin Flashes Multiple Bullish Patterns
Litecoin’s halving won’t happen until around August 6, yet the altcoin’s price has already tripled in 2019. Even so, the cryptocurrency’s technical picture suggests the rally still has plenty of momentum.
Currently, it’s struggling to take out resistance at $100, but the bulls appear determined to pierce this level. On the daily chart on Coinbase, you can easily see the formation of an ascending triangle pattern.
The triangle is a continuation pattern, which indicates that the market is very likely to resume its uptrend once consolidation is over. As you can see, the diagonal support is still intact.
In addition, the three moving averages are in perfect bullish alignment. The 50-day MA is above the 100-day MA, and the 100-day MA is on top of the 200-day MA. These signals tell us that Litecoin’s uptrend remains healthy.
On top of the ascending triangle, Litecoin is also painting a massive inverse head-and-shoulders pattern on the weekly chart. This pattern has been under construction for almost a year now. That’s a long time to build a base in the cryptocurrency world.
The neckline of this pattern is $100. This means that fireworks will begin once bulls convincingly take out this level. Using the height of the pattern to estimate a target, a breach of $100 will likely send Litecoin to $175.
LTC Price Won’t Face True Resistance Until $220
Breakout from this pattern signifies the end of the Litecoin’s long-term downtrend. This will attract breakout traders, trend followers, and others who were staying on the sidelines during this long bear winter.
The bullish momentum generated will make it possible for Litecoin to pierce $175 quickly. That’s because the only strong resistance from the macro perspective above $100 is $220.
Of course, we expect Litecoin to spend some time consolidating around $175 before it can ascend to $220. At that point, however, the bullish sentiment is likely to be very strong. This means that buyers are likely to front-run each other just like they are in bitcoin right now.
With the “halvening” just around the corner, bulls should expect Litecoin to trade as high as $220 before August 2019.
Disclaimer: The views expressed in the article are solely those of the author and do not represent those of, nor should they be attributed to, CCN.
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Bitcoin SV (BSV) Dump Awaits after Mindless Rally Gained 200% Returns
By CCN: It took Bitcoin SV just two hours grow its market valuation from $1.09 billion to $2.478 billion.
There are no clarifications about how the world’s eleventh largest yet controversial cryptocurrency managed to attract approx $1.4 billion. The move just happened out of thin air, as if somebody with a big bag of money – or even cryptocurrencies – was waiting to click on the big buy button. As of 1315 UTC yesterday, the BSV-to-dollar exchange rate had established its all-time high at $195 on Huobi, up more than 200-percent from the market open.
The price action surprised, partially because Bitcoin SV lately emerged as one of the cryptoverse’s most-controversial blockchain projects. The BSV creator, Dr. Craig S Wright, in April, dragged people who questioned his claims of being the bitcoin creator, Satoshi Nakamoto, to court. In a sign of protest, cryptocurrency trading firms ShapeShift, Kraken, and Binance delisted BSV, causing the price to crash by as much as 50-percent in just 20 days.
— Erik Voorhees (@ErikVoorhees) April 15, 2019
BSV had rebounded by up to 36-percent as of May 16 amidst a market-wide bullish sentiment. Nevertheless, the asset failed to overshadow its peers like bitcoin or ethereum in terms of long-term fundamentals. And suddenly, out of nowhere, it was 200-percent up on May 21.
One Foolish Fundamental, Anyway
The Bitcoin SV’s massive surge borrowed fat from a new bitcoin copyright registration filed by Dr. Wright with the US government. While such certifications are not much of a big deal, Dr. Wright’s associate, Calvin Ayer, projected it like a historic moment. The CoinGeek news portal founder said that their successful registration with the US office was proof that Dr. Craig S Wright is the real Satoshi Nakamoto.
“BSV doubled on Craig’s copyright news,” Ayre said. “This is only the start of him proving BSV is the only bitcoin. Now is a great time to convert all your other shite coins to Bitcoin.”
hahaha…BSV doubled on Craig’s copyright news. This is only the start of him proving BSV is the only #Bitcoin. Now is a great time to convert all your other shite coins to Bitcoin 🙂 https://t.co/KNmbMIt5iN
— Calvin Ayre (@CalvinAyre) May 21, 2019
But the fact that Ayer overstated the truth could spoil the BSV bulls’ party. Having a copyright on the system does not entitle Dr. Wright with any exclusive rights on Bitcoin, a protocol which remains open-source under the MIT License. It loosely means, ‘you can take the code, twist it and make a new brand of it, but you can’t own the code, so eat $#!t, mate.’
It looks like big pockets artificially pumped the Bitcoin SV market to validate Ayre’s we-are-the-best rant. A 200-percent pump is seldom organic, which is why traders should restrain themselves from buying on higher highs – or even lower highs.
A Dump Incoming?
The Bitcoin SV price has corrected up to 53.09-percent upon establishing its historic high at $195 on Huobi. The hourly RSI projected BSV as an overbought asset, while the latest downside action somewhat neutralized the sentiment. Furthermore, the BSV price is now trending in what seems an unconfirmed bull flag. Intraday traders can locate a Long opportunity towards the upper trendline of the flag formation, while a Short entry towards the lower trendline upon a pullback further appears like a profitable opportunity.
$BSV doubled today. I’m sure it is unrelated to the fact it is not listed on any major exchanges after the #delistBSV movement. I’m sure it’s nothing like the 10000 other altcoins that do this on a weekly basis because no one lists them.
BSV to the moooooon baby. Lambo time.
— Don Wonton (@Don_wonton) May 21, 2019
The market bias is bullish at the time of this writing, with a majority of technical indicators signaling strong buying sentiment. Nevertheless, given the flawed fundamentals, a dump at this point of time should not surprise the market.
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BitTorrent Rises in the Crypto Markets as TRX Holders Continue to Receive BTT
The first BTT airdrop through the Tron Foundation and BitTorrent Inc. used to be scheduled to distribute 1.1% of the full token provide of 990,000,000,000. This supposed a groovy 10.89 Billion BTT used to be going to be allotted directly to hodlers of TRX. Using the price of the token on the time of the airdrop, there used to be going to be an inflow of roughly 2,400 BTC value of the token within the crypto markets.
Many buyers had put forth two eventualities for the token’s response within the crypto markets because of the airdrop. Firstly, the fast inflow of BTT from the airdrop would motive huge promoting that may dilute the price of the token. The 2nd situation used to be that crypto change and wallets accountable for the distribution, would take a while processing the entire transactions associated with the airdrop. This would then create a possibility for BTT to thrive within the markets as hobby grew from buyers.
BTT Continues to Thrive
It is the latter situation that performed out. BTT is lately valued at $0.00103 up 40% from its contemporary low of $0.0007329 witnessed at the 10th of this month. In phrases of Satoshi, BTT has risen from 20 Sats to its present price of 29 Sats within the discussed time frame.
Delays Receiving BTT from the Airdrop
As discussed above, the distribution of 10.89 Billion BTT throughout more than one exchanges and wallets has led to a bottleneck situation the place some holders of TRX have now not won their tokens from the airdrop. Justin Sun had previous requested holders of TRX to test their wallets for the airdropped BTT. His phrases have been as follows.
We have achieved the airdrop so please take a look at your pockets&account! Really recognize the improve from
#TRON and #BitTorrent group! See you within the airdrop subsequent month! The airdrop for subsequent month will quickly be launched! #TRX $TRX #BTT $BTT
However, because of more than one TRX holders expressing considerations about now not receiving their tokens, Justin has since confident that the BTT airdrop remains to be being processed and the tokens are on their method. This tweet may also be discovered beneath.
The BitTorrent Foundation finished $BTT Airdrop for $TRX holders. If your tokens are on an change or a pockets supporting our airdrop program they’re on their method. Please be affected person, it should take a while given the amount airdropped ✌️
— Justin Sun (@justinsuntron) February 12, 2019
What are your ideas at the resurgence of BTT within the crypto markets? Will this momentum be repeated throughout each and every airdrop for the following 6 years? Please proportion your feedback within the segment beneath.
Disclaimer: This article isn’t supposed to present monetary recommendation. Any further opinion herein is solely the creator’s and does now not constitute the opinion of Ethereum World News or any of its different writers. Please perform your personal analysis prior to making an investment in any of the a large number of cryptocurrencies to be had. Thank you.
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Binance Chain Testnet to Be Released For Public Testing on the 20th of February
In a contemporary Ask-Me-Anything livestream session, the CEO of Binance, Changpeng Zhao, up to date the crypto and investor communities on several developments surrounding the change and its tasks. Of specific hobby, used to be his solution in regards to the release of the Binance Chain community.
During the livestream, he knowledgeable that the Binance Chain testnet will transform to be had within the coming weeks. CZ has since showed this by the use of tweet by means of pointing out the general public checking out of the testnet will transform to be had at the 20th of February. The tweet making the announcement can also be discovered under.
Finally were given a date. Targeting to unencumber Binance Chain testnet (@binance_dex) for public checking out on Feb 20th. This is a testnet, your comments could be most respected.
— CZ Binance (@cz_binance) February 12, 2019
With appreciate to the choice of validators at the Binance Chain, CZ, had this to mention throughout the livestream.
I believe for the testnet at this time we elected to run 11 check nodes. I believe any numbers is okay. The choice of validators in our community will likely be small principally for efficiency causes. So it is going to now not be as large because the Bitcoin community with hundreds of nodes. It goes to be extra like NEO…and even Ripple…smaller choice of nodes and each and every node will likely be somewhat huge.
No Smart Contracts on Binance Chain
Also throughout the Livestream, Changpeng Zhao clarified how the Binance Chain will paintings with out sensible contract capability.
In the Binance Chain, there is not any sensible contracts. We simply have an interface so that you can factor a token then you’ll business it.
Binance Chain is an easy chain relating to utility however it will possibly deal with very huge rather a lot. It is our opinion that the weight is extra necessary than options…
BNB Surpasses All-Time-High Against Bitcoin (BTC)
To now not,e is that the continuing endure marketplace remains to be in complete swing. However, Binance Coin (BNB) not too long ago reached a milestone when it accomplished a brand new All-Time-High when paired with Bitcoin. BNB exhibited a brand new height at 0.0026991 BTC in comparison to its closing All-time-high of 0.002655 BTC from June, 2018.
What are your ideas at the fresh trends on the Binance change? Will 2019 be a just right yr for BNB and Binance? Please percentage your concepts within the remark phase under.[Image courtesy of Unsplash.com]
Disclaimer: This article isn’t intended to present monetary recommendation. Any further opinion herein is only the creator’s and does now not constitute the opinion of Ethereum World News or any of its different writers. Please perform your personal analysis earlier than making an investment in any of the a large number of cryptocurrencies to be had. Thank you.
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NEM Foundation Fights to Keep XEM Out of The Altcoin Graveyard
The NEM Foundation has been the most recent to be afflicted by the lengthening undergo marketplace when it announced a complete restructuring on the finish of closing month. Proposals had been set forth and the basis is transferring ahead and making each effort to stay NEM from turning into some other member of the altcoin graveyard.
In a press release as of late the NEM Foundation launched a joint commentary together with NEM Labs on investment proposals and transferring ahead;
Joint Statement by means of NEM Foundation and NEM Labs👇https://t.co/GJOwYtzlec
✅Proposals are each complementary in nature
✅Principles of co-operation collaboration
✅Pursuit of Catapult
NEM Foundation proposal: https://t.co/uJwsCNznHA
— NEM (@NEMofficial) February 12, 2019
In the democratic and decentralized approach that many crypto tasks are seeking to habits their operations the NEM Foundation has referred to as for a ‘proof of importance’ (POI) vote in make stronger in opposition to a investment request. An enormous restructuring will lead to a large number of crew participants on the lookout for different jobs;
“Due to the depleted funds, a large majority of team members will be made redundant at the end of February 2019 and we will be requesting funding from the community and developers to implement a new structure.”
Proposals by means of each divisions of the group had been described as ‘complementary in nature’. The joint statement alludes to extra cooperation and collaboration between the Foundation and Labs. The final function stays the improvement and continuation of the mission which it has named Catapult. In its subsequent section, Catapult will grow to be the core NEM engine for sensible contracts and dApps. The commentary summarized;
“The reality is that the adoption of NEM is not the work of a single entity. Proven ecosystems all consist of multiple purpose driven entities that solve specific problems. We are convinced of a future where independent entities like NEM Foundation and NEM Labs solve specific problems for the NEM ecosystem in a unified approach.”
In a separate announcement previous this month NEM signed a strategic partnership with TheVault Ltd, an Artificial Intelligence (AI) powered blockchain answer for safe monetary bills and buying and selling. So regardless of the large restructuring and ‘thinning out’ of the crew issues nonetheless appear to be transferring forwards for the mission.
Unfortunately this has now not been mirrored in XEM costs that have been the crux of the issue within the first position. From a best ten crypto asset, XEM has slid down the charts as its marketplace cap dwindles. It is these days at 19th position after being flipped by means of Maker and Ethereum Classic this week.
NEM has misplaced some other p.c at the day and is these days buying and selling at $0.038. Since the start of 2019 the token has dumped 40% and issues appear to be getting worse for its value without reference to persevered efforts to stay the mission alive.
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