Connect with us

Blockchain

Litecoin jumps 18% to lock gains above $55

Litecoin is registering the biggest gains as crypto market turns bullish on PayPal adoption…

The post Litecoin jumps 18% to lock gains above $55 appeared first on Coin Journal.

Avatar

Published

on

Litecoin is registering the biggest gains as crypto market turns bullish on PayPal adoption news

Litecoin (LTC) is trading higher on the day, jumping more than 14% in the past 24 hours. Litecoin’s upside momentum has gathered pace after an initial 11% spike came soon after the payments processing firm PayPal announced support for cryptocurrencies.

The cryptocurrency has broken above several hurdles, soaring from a low of $46 to touch highs near $56.50.

LTC price against the US dollar is currently around $55.50, up 5% on the day and over 18% in the previous session. Overall, Litecoin price is up 14% in the past 24 hours. LTC is also performing well against BTC, with the pair up more than 9% in the past 24 hours.

According to Asset Dash, a platform that tracks and ranks global assets by market cap, Litecoin’s $3.66-billion valuation has pushed it 71 places into 1306 globally. CoinMarketCap ranks LTC as the eighth largest cryptocurrency, behind ChainLink which has a market cap of $4.3 billion at the time of writing.

LTC/USD technical analysis

The daily chart has LTC/USD changing hands above the 50-day and 100-day simple moving averages. It is the first time the pair has traded above the moving average in over a month. If bulls hold these levels, the uptrend is likely to take it above $60.

LTC/USD daily chart. Source: TradingView

The outlook on this time frame suggests that slight resistance is expected at $59.42. The area is close to the 78.6% Fib retracement level of the swing low from $62.87 high to $44.63 low. A breakout above this area highlights the next hurdle around $64.79.

The MACD level (12, 26) is flashing buy signals at 0.94, but the RSI is currently trending within the neutral zone. This suggests that while the bulls retain the advantage, the short term picture may involve a retrace to prices below $55.

LTC/USD 4-hour chart. Source: TradingView

On the 4-hour chart, the RSI is trending up but not yet overextended. If it does, it’s likely to scuttle bulls’ plans, with prices dipping to accommodate an influx of selling pressure. However, the MACD is still bullish, indicating that any potential pullback for the LTC/USD might not be catastrophic to bulls’ plans.

If bears establish a foothold, healthy support around the SMA50 and SMA100 levels suggests that the bulls might still have enough power to withstand the downward pressure.

Source: https://coinjournal.net/news/litecoin-jumps-18-to-lock-gains-above-55/

Blockchain

Greenheart Punt World Debut on DigiFinex

Avatar

Published

on

Continue Reading

Blockchain

6 Reasons it’s Worth Taking the Risk of Investing in Cryptocurrency

Avatar

Published

on

When it comes to cryptocurrencies, which have been continuously raging for the past few years, many people are eager to make investments in the crypto sector and reap great benefits from it. But despite its huge prominence, the crypto industry is also known for its volatile nature, making it a risky business sphere for many investors.
So, is it worth investing in the crypto business? Why one should consider investing in it? What are its benefits? And what is the future of cryptocurrencies?
In order to find out the answers, you need to look at this article where the experts at a prominent cryptocurrency wallet development company have listed some good reasons –

Why Investing in the Crypto Business is a Worth Taking Risk?

Since the inception of Bitcoin, cryptocurrencies have been consistently booming, talk of the town for the last decade. However, a big number of investors still look at them with caution. Of course, investing in cryptocurrency is risky – just like any other investment which has high potential returns, but there are some crystal clear benefits, which are listed below by a leading cryptocurrency development company. Have a look:

  • Huge Potential Returns on Investments

First thing first – cryptocurrencies have been around for merely a decade, but are pronounced to be much more profitable than most of the other investments. They tend to show wide changes in their prices but still have huge potential returns. For example, the average return you can expect from your initial capital for Bitcoin is over 860%. Isn’t that fantastic? .

  • High Liquidity to Sell and Buy Assets

One particular attribute that makes crypto worth its investment is its high liquidity. Unlike any other investment where your capital can be locked up for years, you can buy or sell cryptocurrencies on the fly. Cryptocurrency development services and trading platforms use an array of tools and tactics to maintain the liquidity of the business. Thus, you won’t feel like you’re stuck to purchase or sell an asset.

  •  No Central Authority

One of the most notable benefits of investing in cryptocurrencies is that your money remains yours alone. This means you have a great level of independence that no other form of currency or system can provide. For instance, if you keep your money in a bank account, your access can be denied at any moment by the central authority such as governments. Also, banks can be robbed and can go bankrupt. But this is not the case with cryptocurrencies. No need to rely on financial institutions for holding or transferring your money. Speaking in the long run, this independence becomes the basis of a decentralized economy.

  •  Heightened Transparency in the Business

Most of the cryptocurrencies are transparent in nature with their undertakings. They provide ample information in their whitepaper including the roadmap, team members, regulations, technologies, etc. On top of being a transparent form of currency, cryptocurrencies also come with the boon of having a highly secure characteristic. This leads us to the next significant reason for investing in cryptocurrencies.

  •  Blockchain-Enabled Currencies

The world has evolved in terms of technological advancements. Its biggest testament is the incorporation of blockchain technology in cryptocurrencies. Just because of the immutable blockchain technology, cryptocurrencies are highly secure, transparent, and decentralized. Both are in for the long game and will give us more real-world applications like cryptocurrency wallet development services in the days to come.

  •  Cryptocurrencies are the Future

Chances are very high that you will certainly use cryptocurrencies in the future if you haven’t used one yet. Why? Well, because more and more people are getting involved in the crypto industry, popping up in diverse domains of business. Additionally, due to the economic slowdown caused by the COVID-19 pandemic, people have started to realize that shifting from stocks to cryptos could be a very fruitful idea for them. Thus, it is quite safe to state that cryptocurrencies will be a viable currency in the future.


Concluding Thoughts

You see, cryptocurrencies carry an immense potential to create a new payment system as well as an investment source worldwide. Same as other potentially high-return investments, cryptocurrencies come with some particular risks – but believe me, the degree of independence they offer is above every flaw. Crypto is for the people who have the courage to stop thinking about the risks and start achieving great heights by making investments.

So, if you can afford it – don’t be afraid to invest in crypto now. Sooner or later it is going to transform the way we look at the world today.


Summary: Planning to invest in cryptocurrency? Want to know how good this idea is? Have a look at this writing piece where we have discussed 6 good reasons for investing in the crypto business.


AUTHOR BIO: Vin Boris is a Social Media Marketer and Content Writer at SteemExperts.com, a Blockchain and Steem currency based development, consulting, and marketing firm. Vin Boris has been Outshining in Blockchain Tech. the industry for more than 10 years.

 

Continue Reading

Amb Crypto

Former Chief Digital Officer of Luxury brand LVMH joins Ledger 

Avatar

Published

on

Former Chief Digital Officer of design house LVMH, Ian Rogers, will join the French digital asset security company – Ledger – as its first Chief Experience Officer. With this appointment, Rogers will focus on consumer interaction and user proficiency and “accelerate” Ledger’s Business to consumer development. Further, Rogers will be involved in “reinventing the user experience” of Ledger’s products, according to a release shared with AMBCrypto. 

Rogers worked at LMVH from 2015 onwards and focused on e-commerce strategy at luxury brands and implemented new technologies, such as big data and AI. Headquartered in Paris, LVMH Moët Hennessy Louis Vuitton, commonly known as LVMH, is a well known French multinational corporation and conglomerate specializing in luxury goods. 

Prior to his role in LVMH, Ian Rogers had held roles with brands such as Sephora. 24Sas as well as Apple Music, Beats Music and Yahoo! Music. The executive remains in an advisory role for LVMH and sits on the board of Lyst.com. However now, whilst sharing his plans with regard to his new role, Rogers said in a statement: 

I remember when you couldn’t simply say ‘go to my website. You had to first explain the concept of the internet[…] I remember when you couldn’t simply send someone a link to your new song. […] I love those moments when technology moves from science fiction to mainstream. Digital assets are standing on the verge of this move[…]

In addition to this, Rogers noted the “inevitable transformation” of technology and referred to the cryptocurrency “revolution” with regard to Ledger as well as the nascent digital assets industry.

Source: https://eng.ambcrypto.com/former-chief-digital-officer-of-luxury-brand-lvmh-joins-ledger/

Continue Reading

Blockchain

J.P. Morgan Analysts Foreshadow Further Bitcoin Declines

For context, the bitcoin (BTC) price started off last week with a significant increase, arriving at a new yearly high of $19,500 before suffering a sharp (almost 14%) drop on Nov. 26. The decline coincided with Black Friday, as BTC/USD fell at roughly the same time as the famous discount shopping day, leading many to … Continued

The post J.P. Morgan Analysts Foreshadow Further Bitcoin Declines appeared first on BeInCrypto.

Avatar

Published

on

Bitcoin’s recent price drop has wiped away some speculative “froth” but further downtrends remain possible, according to analysts at JPMorgan Chase.

For context, the bitcoin (BTC) price started off last week with a significant increase, arriving at a new yearly high of $19,500 before suffering a sharp (almost 14%) drop on Nov. 26.

The decline coincided with Black Friday, as BTC/USD fell at roughly the same time as the famous discount shopping day, leading many to note the comparison.

According to an article in Bloomberg, the primary causes of the slump were profit-taking, concern about new regulations, and the unwinding of Bitcoin futures. Since then, the price has recovered from the mini-crash and has been moving upwards again.

Per BeInCrypto analysis, the increase is likely a retracement rather than the beginning of a new upward trend.

Although bitcoin has bounced back from precipitous price losses during the Thanksgiving holiday, analysts from JPMorgan Chase also forecasted further declines.

As cited in Bloomberg, Nikolaos Panigirtzoglou, Managing Director at J.P. Morgan, said, “momentum traders have room to further propagate” [a bitcoin price decline].

The Importance of Grayscale

Panigirtzoglou also highlighted Grayscale, and its sizable Bitcoin Trust, as playing a central role in future BTC price developments.

The cryptocurrency asset management company has long been important because it’s said to be favored by institutional investors wanting to get exposure to bitcoin (and other digital assets).

Grayscale has added significantly to its crypto holdings since the start of 2020. After an eleven months filled with ever higher prices, as of November 27, Grayscale’s assets under management (AUM) have risen to yet another all-time high.

The interest (or lack thereof) towards the Grayscale bitcoin trust in the coming months will be a key signal as to whether there indeed is strong institutional interest in BTC.

As the JPM analysts put it,

“a failure by the Grayscale Bitcoin Trust to receive additional inflows over the coming weeks would also cast doubt to the idea that institutional investors such as family offices have embarked on a trend of embracing Bitcoin as digital gold replacing traditional gold as a long-term investment.”

While this may be true, bitcoin is still up more than 150% on the year. Many Bitcoin advocates will feel vindicated by this and point to the need for additional inflation hedge assets during the pandemic as fuel for further gains.

Share Article

Colin is a writer, researcher, and content marketer with a keen interest in the future of money. His writing has been featured in numerous cryptocurrency publications, and his holdings don’t amount to more than a handful of BAT.

Follow Author

Source: https://beincrypto.com/j-p-morgan-analysts-foreshadow-further-bitcoin-declines/

Continue Reading
Blockchain3 hours ago

Greenheart Punt World Debut on DigiFinex

Blockchain7 hours ago

6 Reasons it’s Worth Taking the Risk of Investing in Cryptocurrency

Covid1910 hours ago

How Canadian Retailers Are Handling The COVID-19 Lockdown

Startups10 hours ago

Why to Start Dating on Social Networks, Matchmaking Sites, and Apps?

Cleantech17 hours ago

800,000+ People Risk Water Shutoffs In The Great Lakes State

Cleantech18 hours ago

Shared Micromobility Is Replacing Car Trips

Cleantech19 hours ago

Renewables = 20% of US Electricity Generation in First 3 Quarters

Cleantech24 hours ago

Volkswagen Orders KUKA Robots For ID. Buzz, And Other Volkswagen Group News

Cleantech24 hours ago

The Corporate Carbon Accounting Market

Cleantech24 hours ago

You Should Care About Transportation Emissions. Here’s Why

SaaS24 hours ago

What is Video Search and How Can it Help Your Business?

Cyber Security1 day ago

Digitally Signed Bandook Trojan Reemerges in Global Spy Campaign

Amb Crypto1 day ago

Ethereum long-term Price Analysis: 30 November

Amb Crypto1 day ago

Bitcoin’s price could one day be $500,000: Gemini’s Winklevoss brothers

SaaS1 day ago

How Can iPaaS Help Your Digital Marketing?

Aerospace1 day ago

2020 SpaceNews Awards Virtual Event

Cleantech1 day ago

The Renewable Energy Cows Come Home, Now With Green Ammonia

Amb Crypto1 day ago

What does Bitcoin’s Sentiment say about its future?

Globe NewsWire1 day ago

European Energy completes third quarter of 2020 with significant growth across the board

Amb Crypto1 day ago

Monero, Polkadot, Compound Price Analysis: 30 November

Amb Crypto1 day ago

Former Chief Digital Officer of Luxury brand LVMH joins Ledger 

Cleantech1 day ago

EV Aftermarket Virtual Trade Show (Show & Tell) Is Today — Join Us!

Cyber Security1 day ago

MacOS Users Targeted By OceanLotus Backdoor

Cleantech1 day ago

Townie Path Go! E-Bike: A Premium, Sturdy Electric Bike For Commuters & Fun

Cyber Security1 day ago

Pandemic, A Driving Force in 2021 Financial Crime

Aerospace1 day ago

FCC Chairman Ajit Pai to leave agency in January

SaaS1 day ago

Generative Media: The Future of Visual Marketing

Amb Crypto1 day ago

Bitcoin SV long-term Price Analysis: 30 November

Automotive1 day ago

Tesla gains permission to begin second phase of deforestation at Giga Berlin

Aerospace1 day ago

SES to provide satellite connectivity for U.S. military ‘internet of things’

Trending