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Litecoin Price Inches Closer to Retaking $300 Again

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Today could prove to be a very good day for people still holding Litecoin as part of their portfolio. Although the past few weeks have been quiet, we see a nice move upward for the Litecoin price over the past 24 hours. Thanks to a 20% gain in USD value and a 10% gain over Bitcoin, the Litecoin price is approaching the $300 level once again. Some people would say this upward momentum is long overdue.

LITECOIN PRICE WAKES UP ONCE AGAIN

It is fairly obvious all cryptocurrency markets are slowly getting back on track in the new year. The end of 2017 and the first few days of 2018 didn’t offer much to get excited about except for a few seemingly pump-and-dump schemes to catapult currencies into the top 10. The big coins – including Bitcoin and Litecoin – didn’t budge all that much. That situation is now coming to change, as things are finally picking back up where we left off about two weeks ago.

More specifically, the Litecoin price is slowly moving toward the $300 range once again. Although Litecoin surpassed this value once in the past 24 hours, the people simply took profits and waiting for a lower point of entry. It seems highly unlikely there is much wiggle room in this regard, as the Litecoin price seemingly holds its own quite well in the $285-$295 range. Small profits can still add up to major gains if coins are flipped several times in quick succession, though.

It appears this next leg up started materializing about 12 hours ago. When the Litecoin price was seemingly stuck between $240 and $255 for the foreseeable future, something changed all of a sudden. There was an uninterrupted ride for $285 and after a small dip, a new push toward $302. Ever since, the Litecoin price has not dropped below $284 again. Do keep in mind cryptocurrencies are inherently volatile and Litecoin will not prove to be different in this regard whatsoeve

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Bitcoin (BTCUSD) weekly forecast on February 18 — 24, 2019

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Cryptocurrency Bitcoin (BTC/USD) is trading at 3587. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bearish trend for Bitcoin. At the moment, cryptocurrency quotes are moving near the upper border of the Bollinger Bands indicator.

Bitcoin (BTCUSD) weekly forecast on February 18 — 24, 2019

As part of the Bitcoin exchange rate forecast, the test level of 3820 is expected. Where should we expect an attempt to continue the fall of BTC/USD and the further development of the downward trend. The purpose of this movement is the area near the level of 2700. The conservative area for selling Bitcoin is located near the upper border of the Bollinger Bands indicator at the level of 3850.

Bitcoin (BTCUSD) weekly forecast on February 18 — 24, 2019

Cancellation of the option to continue the decline in Bitcoin will be the breakdown of the area of ​​the upper border of the Bollinger Bands indicator. As well as the moving average with a period of 55 and closing of quotations of the pair above the area of ​​4250. This will indicate a change in the current trend in favor of the bullish for BTC/USD. In the event of a breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration of the fall of the cryptocurrency.

Bitcoin (BTCUSD) weekly forecast on February 18 — 24, 2019 implies a test level of 3820. Further, it is expected to continue falling to the area below the level of 2700. The conservative area for selling Bitcoin is located area of ​​3850. Canceling the option of falling cryptocurrency will break the level of 4250. In this case, we should expect continued growth.

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BTCUSD Analysis: Bitcoin still trading in a bearish consolidation [Video]

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Any upside moves are classified as corrective ahead of what could be the next downside extension and bearish continuation. It would take a break back above 4,380 at a minimum to take the immediate pressure off the downside. Next critical support comes in the form of the July and September 2017 lows, around 2,000 and 2,975 respectively.

In this analysis, we take a look at Bitcoin each day, highlighting all of the need to knows for anyone looking to extract up to date information about major levels and relevant trends, both short term and longer-term. The analysis is designed for the trader, investor and even those simply holding the crypto asset, looking for an idea of where they may want to consider making that next conversion.

The cryptocurrency update is new each day and is presented with an added layer of animation, in an effort to make the analysis as engaging as possible, while also communicating the message with respect to key trends and levels in an easy to understand, seamless manner with great value add to all.

News Source: fxstreet

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Are Central Bank Digital Currencies (CBDCs) Net Positive Or Negative For Bitcoin And Crypto Assets?

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Central Bank Digital Currencies (CBDCs) have been analyzed by several banking institutions around the world, specifically by several central banks in different countries. However, they are different than virtual currencies such as Bitcoin (BTC). How would the issuance of CBDCs affect Bitcoin and the whole crypto market?

There are some important differences between Bitcoin and CBDCs. For example, Bitcoin is permissionless, decentralized and censorship-resistant while CBDCs are permission, centralized and censorable. Thus, they are almost contrary to Bitcoin. While the most popular cryptocurrency provides freedom to users, CBDCs allow governments to have larger control over their populations.

A few days ago, the popular investment bank JP Morgan unveiled a stablecoin called JPM Coin that would be used to make transfers between customers in just a few seconds. Although JP Morgan’s CEO Jamie Dimon has been against virtual currencies, it seems that the bank will be using blockchain technology to power their virtual currency.

There were several individuals in the market claiming that the new JP Morgan digital coin killed Bitcoin, or at least, it is going to kill the most popular cryptocurrency in the market. However, it is important to understand that these coins will never be similar and work in a completely different way. CBDCs and stablecoins issued by financial institutions such as JP Morgan work in a centralized and controlled way.

Indeed, these new digital assets do not seem to present a threat to cryptocurrencies such as Bitcoin. SWIFT could be affected by these new coins. SWIFT is the mainstream and most popular system to perform cross-border payments. This system has proven to be slow and costly for many financial institutions and banks all over the world. Indeed, Ripple’s services could also be affected by the growth of new CBDCs.

CBDCs legitimize that virtual currencies are the future of money. Because of this, it might be possible for Bitcoin to distance itself from drugs and criminals. At the same time, with CBDCs individuals will discover that there are several advantages of using digital assets.

Individuals will clearly have their funds frozen at any moment using CBDCs if the financial institution regulating the asset decides so. Moreover, their accounts can be suspended and users would not be able to use these funds anymore.

There are some crypto experts that believe that CBDCs could be very harmful to societies. For example, China is currently trying to control its population with new surveillance systems related to how individuals use their funds.

With CBDCs, people will realize that there is no more freedom and that the government is ultimately controlling everything. This is why Bitcoin could grow as a safe haven where users can feel free to use their funds as they want without being controlled by governments.

That does not mean that Bitcoin will be used to perform illegal things. It means that users will protect their privacy and what they do with their funds.

Source.bitcoinexchangeguide

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