Category: Economy

Bitcoin (BTC) Price Prediction – October 19, 2020

BTC/USD  price rallied above $11,500 resistance to reach $11,800 high. The king coin reaches striking distance below the $12,000 overhead resistance. The coin intends to make brief consolidation before resuming the upside momentum

Resistance Levels: $10,000, $11,000, $12,000
Support Levels: $7,000, $6,000, $5,000

 Since October 13, Buyers have been making concerted efforts to break the resistance at $11,500. On the 1-hour chart, the $11,500 resistance was tested on five occasions. The several retests contributed to weakening the resistance. This makes the breakout to be powerful. The recent rally was interrupted at the $11,800 high. The bulls could not break the recent resistance as the price was compelled to a sideways move below $11,800.

This is an advantage to the bulls as a strong bounce below the $11,800 will break the resistance and retest the $12,000 overhead resistance. … Read more

LTC Price Prediction – October 18

Since a few days ago, Litecoin (LTC) has been experiencing a downtrend within the channel.

LTC/USD Market

Key Levels:

Resistance levels: $51, $53, $55

Support levels: $44, $42, $40

LTC/USD is gaining around 1.09% in the recent 24 hours to trade at $47.44 at the time of writing. The coin has been one of the best-performing coins out of top-10 today as the upside momentum has been gaining traction since the early hours of today. However, LTC/USD dipped to the psychological $45.64 a couple of days ago before the recovery resumed today.

What to Expect from Litecoin (LTC)

The market price is currently displaying a sign of subduing volatility, ready to cross above the 9-day and 21-day moving averages. Meanwhile, taking a look at the daily chart, we can see that the trading volume is coming up slowly while the … Read more

Bitcoin (BTC) Price Prediction – October 18, 2020
BTC/USD price has been stagnant above $11,300 support. The price movement is insignificant as the market remained range-bound. The critical support zones of $11, 100, $11,200, and $11,300 remain unbroken as price continues to consolidate.

Resistance Levels: $10,000, $11,000, $12,000
Support Levels: $7,000, $6,000, $5,000

Bitcoin price has been stuck between $11,200 and $11,440. The king coin has been trading marginally since October 16. The survival of the crypto is the holding of the critical support zones. On the upside, a breakout will catapult BTC through the critical support zones to the high of $11,800.On the downward side. If the bears break through the critical support zones and the $11,000 support is breached, Bitcoin will resume a downward move to the previous lows. Today, BTC is trading at $11,410 as the bulls push the price on the upside. … Read more

However, while adoption appears to be on the rise in South Korea, industry experts have also urged the government to create an encouraging environment or players. 

A Short Implementation Window 

Most notably, industry experts have called on the government to nix its proposed crypto tax plan for now. Earlier this week, local news source News1 Korea reported that the Korea Blockchain Association (KBA), a blockchain and crypto advocacy group, requested that the government postpone implementing its crypto tax framework for 18 months.

The South Korean government’s proposed tax plan has been a particular sticking point for many in the country’s crypto space. The plan was published by the Ministry of Finance and Economy in July, with the Ministry stipulating that taxation for digital assets is a necessity as these assets continue to penetrate the traditional financial system. 

Under the new framework, the Ministry plans to categorize all gains from digital … Read more

LTC Price Prediction – October 15

At market opening today, the LTC/USD price keeps following a bearish movement within the channel.

LTC/USD Market

Key Levels:

Resistance levels: $54, $56, $58

Support levels: $45, $43, $41

A few days ago, LTC/USD recorded some losses in 3 days consecutively but the improvement that the coin faced yesterday has been long-lived but the price was later back to around $49.84 where it closed. Today, the price touches the daily high of $50.26 and a low at $48.88, but currently, it seems the coin may be heading back towards the immediate support level of $48 below the 9-day moving average.

Where is LTC Price Going Next?

As the coin moves within the channel, in as much as the Litecoin price fails to rally from current trading levels, the greater the chance traders may see the cryptocurrency falling to another trading … Read more