Month: April 2020

LTC Price Prediction – April 30

The Litecoin price managed to fend off $50 for now but the bearish signals are still very much around.

LTC/USD Market

Key Levels:

Resistance levels: $58, $60, $62

Support levels: $36, $34, $32

Today, LTC/USD is looking bearish as the price tested and printed below $50 to touch the low of $45.98 support level. The price is still trading above the 9-day and 21-day moving averages within the ascending channel. Looking at the indicators now the RSI faces down by moving below 60-level. The volume has also picked up as the selling kicked in. Therefore, $45 may now be the main level of support that needs to be watched.

Moreover, LTC/USD started with a trading price of above $49.06 and now hovering at $46.89. More so, after the price touches the high of $51.04, the bears grabbed it from there … Read more

CEO of Galaxy Digital and prominent crypto bull Michael Novogratz said that a massive stimulus package in the US could help in creating a compelling case for Bitcoin, right before its halving.

How will Bitcoin shine?

Speaking to CNBC on Tuesday, Novogratz said that stimulus packages are helping in creating a positive narrative for Bitcoin. He said,

“Bitcoin has this moment right now. Just today we had another trillion-dollar stimulus—money growing on trees, and my mother taught me when I was younger, ‘money doesn’t grow on trees’.”

He said that more people are getting interested in cryptocurrencies because of the fiscal stimulus as they are looking for something with scarcity. Policymakers’ moves, as well as the reducing block rewards because of May’s halving, will help in increasing the appeal of Bitcoin. He adds that these two events will add micro tailwinds to the adoption of Bitcoin. Gold has already … Read more

A Bitcoin fan recently won a virtual NASCAR race, which features Kyle Busch, the present champion of the NASCAR cup series. The series is the famous competition by the National Association for Stock Car Auto Racing (NASCAR). But this time, it’s only held online because of the lockdown.

The show witnessed a crowd of 50,000 people who were spectators quarantining in their homes, as Bryan Cook, took the lead and beat NASCAR drivers, Kyle Busch and Dale Earnhardt. The winning digital car had a big Bitcoin logo on the side printed by Cook himself. It was publicity for the Bitcoin enthusiast and its industry.

Nice publicity for Bitcoin and cryptocurrency

After the race, Cook went to Reddit to start a thread, explaining what he has accomplished and how it would impact the Bitcoin industry.

“It’s not often you can say you beat your heroes like @KyleBusch or @DaleJr but I … Read more

The Japanese Financial Services Agency (FSA) recently approved the Huobi Token. This makes Huobi the first international exchange with a token approved in the country.

Crypto asset approved

The FSA has approved Huobi Token (HT) as a compliant crypto asset that will start trading in the country in May. Japan is the second-largest market for cryptocurrencies in the world, giving HT access to a vibrant community of crypto adopters. The FSA has only approved 25 other tokens as it aims to tighten up its crypto regulatory practices. The 26 tokens are now a part of FSA whitelist which can be safely traded in the country.

The aim to bring a more robust regulatory framework in Japan for cryptocurrencies started last year when the House of Representatives made changes to the Financial Instruments and Exchange Act (FIEA) and the Payment Services Act (PSA). Both legislation will come into effect on May … Read more