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Litecoin [LTC] victim of bearish market: Lowest drop in 2018!

Simran Alphonso

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Litecoin [LTC] victim of bearish market: Lowest drop in 2018!
Source: Pixabay

Litecoin has a bunch of supporters, Charlie Lee, the creator of LTC has been the major lead. The coin was doing well until it hit the floor with the lowest drop it has faced in the past 6 months.

Litecoin's 1 day trading chart | Source: CoinMarketCap

Litecoin’s 1-day trading chart | Source: CoinMarketCap

LTC started its day with the trading price of $96.94, the coin walked along with the trails of the bearish market until it slipped, resulting to a fall to $81.40.

This is the lowest the coin has been in the past 6 months and the first ground touch fall in 2018! LTC picked up the momentum and is currently stabilizing as speculated.

Recently, Litecoin boarded an exchange called FXChoice, as mentioned in the platform’s tweet. FXChoice is a trading platform specialized in Forex and CFD trading and focuses mainly on shaping its technology.

In an interview with CNBC, Charlie Lee recently spoke about his shares views on market risks, security, and crypto-prices in general.

The Lightning Network is dependent upon the underlying technology of the blockchain. By using real Bitcoin/blockchain transactions and using its native smart-contract scripting language, it is possible to create a secure network of participants which are able to transact at high volume and high speed.

When asked about Lightning Network he said:

“What I’m most excited about is Lightning Network. Technically, Bitcoin has gotten stronger and stronger over the past few year. SegWit has activated, developers are working hard on getting Lightning Network which is the second layer solution for payments working on Bitcoin and Litecoin.”

At the time of writing, LTC is traded at the price of $83.41 with a market cap of $4.7 billion. The coin has seen a fall of 2.54% in the past 24 hours and its weekly cap runs red with a drop of 13.34%





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Simran Alphonso is a Journalist at Ambcrypto. She has a background in Financial Markets and holds expertise in Digital Marketing.

Altcoins

Bitcoin SV surges by 6.84% in an hour; community speculates massive behind-the-scenes pump

Biraajmaan Tamuly

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Source: Pixabay

The cryptocurrency market has witnessed major price hikes over the past few weeks, with Craig Wright’s Bitcoin SV emerging as the market’s unlikely performer. The Craig Wright-backed virtual asset, which is supposed to follow Satoshi Nakamoto’s original idea, outperformed every top 10 cryptocurrency over the past week, recording a growth rate of 22.86%.

Source: CoinmarketCap

At press time, the coin had recorded a price hike of 6.84% over the hour, with the coin valued at $228. The coin was traded the highest on CoinBene exchange, where the trading pair of BCHSV/USDT gathered a volume of $96  million. The exchange was closely followed by ZBG exchange, where the trade accounted for 13.62% of the entire trading volume.

Source: Trading View

According to the chart released by Trading View, a massive green candlestick can be observed. The chart also indicated that at press time, the candles were charting over the Moving Average [MA]. This suggested that extremely high trading volumes were pegged with Bitcoin SV.

Many in the community have speculated that the surge might be due to a massive dump of the coin in the market, after the token hit stagnation since pumping by more than 247 percent recently. The aforementioned price pump pushed the price of the coin from $53.22 to $250.

Previously, it has been suggested that the major pump witnessed within the Bitcoin SV ecosystem might be laden with market manipulation, implying the participation of illicit entities in the conduct of a “pseudo-pump” of BSV’s market. Further, the de-listing of BSV by major exchanges such as Binance may have made it more susceptible to sudden price movements, according to some.

At press time, Bitcoin SV was positioned 8th on the cryptocurrency charts. Despite the pump however, historical trends suggest a major price correction may be in the offing too.





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