Bitcoin miner outflow ratio hits 6-month high in new threat to BTC price

This is a subreddit devoted to long-term and short-term trading of Litecoins. This halving will put us even with btc inflation wise for one year. I have long believed that this coming year will set a massive ratio rise due to the cut in supply. Bitcoin edged up above US$17,000 in Wednesday morning trading, a level it has fluctuated around for much of the past week. Beaxy allows you to trade litecoin with convenience and peace of mind. Our user interface is customizable and can be optimized for beginners and experts alike.

The market is currently pricing Segwit2x at $1,300 via futures trading. Yet, many altcoins would need to double or triple to return to previous highs. And if the Bitcoin price crashes following the fork as expected, investors that don’t sell out immediately are going to take a loss during the correction. If the Bitcoin price falls towards $5,400, this would essentially wipe out any gains from getting free B2X tokens.

LITECOIN TECHNICAL OVERVIEW

A little more than four years later, in December of 2017, Litecoin made its all-time high when it traded at $375 per coin. Around that time, Litecoin’s creator Charlie Lee famously announced that he had sold all of his LTC coins to avoid conflicts of interest surrounding the work he did to get Litecoin off the ground. There are multiple LTC trading pairs on Beaxy that you can use to buy or sell LTC into and out of other digital assets like BTC. If you want to buy or trade LTC while on the go, you can download the Beaxy mobile app and gain market-wide access at all times.

Thus, the heterogeneous LSGDM allows us to modulate the weight of each technique upon integrating them . Or shape-based clustering seem to offer more unstable results, probably because they use disaggregated data, and the results are more sensitive to small changes. This means that there is no agreement between the different clustering results, which matches our aim of using clustering results that provide complementary views on the market. Given the size of the cluster, these cryptocurrencies represent the predominant behavior in the market, which is unsurprisingly the most moderate behavior, and includes the most popular cryptocurrencies. Launched in the year 2011, Litecoin is an alternative cryptocurrency based on the model of Bitcoin.

LTC Price Live Data

The trader who shared the above chart says that LTCBTC is currently at long-term support of a falling wedge, coinciding with a bullish divergence on the on-balance volume indicator . NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies. Regardless, our study is a small step to better understanding the determinants of cryptocurrency prices. Specifically, theory suggests that the trustworthiness and the transaction benefits of a blockchain are important determinants of cryptocurrency values. Pagnotta and Buraschi link trustworthiness to the computing power devoted to the blockchain.

That means removing any currencies that provide users with additional privacy or anonymity. Litecoin transactions are typically confirmed in just minutes, and transaction fees are nearly negligible. This makes it an attractive alternative to Bitcoin in developing countries, where transaction fees may be the deciding factor on which cryptocurrency to support.

• You can learn more about the standards we follow in producing accurate, unbiased content in oureditorial policy.
• Keep in mind that, unlike if you were to buy and sell litecoin, you won’t need an account with an exchange.
• However, the recently resumed development activity can be expected to improve the platform in the coming days.
• Therefore, we consider that Hist-DAWass is a suitable and promising profiling tool for investors, and believe that it could be used in financial markets in general.
• The Bitcoin price page is just one in Crypto.com Price Index that features price history, price ticker, market cap, and live charts for the top cryptocurrencies.

What’s more, BTC is a superior store of value, while LTC is better for quick purchases. Analysts say that, in the long term, LTC may see its price increase and reassume its previous rank. If you’re looking for a good return in 5 or more years, pay WAVES attention to this cryptocurrency. Keep in mind that, unlike if you were to buy and sell litecoin, you won’t need an account with an exchange. This is because you trade on the prices offered, which we derive from multiple exchanges on your behalf.

Interestingly, Litecoin’s social dominance has been severely hampered, and as is evident from the chart above, it has fallen significantly since June 2022. While this may help to keep its price stable, it could also suggest that recent rally we saw in this coin might as well be short lived. So investors should be careful before falling prey to FOMO in the market.

Once this feature is available on the mainnet, Litecoin users will also benefit from greatly enhanced privacy and fungibility. Behind Bitcoin, Litecoin is the second most popular pure cryptocurrency. This success DOGE can be largely attributed to its simplicity and clear utility benefits. As we previously touched on, Litecoin was founded by Charlie Lee, an early cryptocurrency adopter and a name held in high regard in the cryptocurrency industry.

Digital Silver: Why Litecoin Is Poised To Bounce Versus Bitcoin

An altcoin which performs favorably relative to Bitcoins power law may well be considered to have an appreciable monetary premium. LTC’s MVRV Ratio went up considerably over the last week, which is a bullish sign. Moreover, the coin’s volume was also in its support as it increased along with the MVRV Ratio. More good news came in for LTC when the coin was listed among the top cryptos in terms of Galaxy Score, which is a promising bullish signal. Litecoin is one of the few cryptocurrencies with a wide variety of fiat trading pairs, and can be exchanged for U.S. dollars , Korean won , euros and more.

Another of the main differences between Bitcoin and Litecoin concerns the total number of coins that each cryptocurrency can produce. The Bitcoin network can never exceed 21 million coins, whereas Litecoin can accommodate 84 million coins. Deposit crypto to our exchange and trade with deep liquidity and low fees. Ludvigson , “Consumption, aggregate wealth, and expected stock returns”, The Journal of Finance 56 , 815–849. An empirical investigation into the fundamental value of Bitcoin”, Economics Letters 130, 32–36.

As of January 2021, Litecoin is one of the most widely accepted cryptocurrencies, and more than 2,000 merchants and stores now accept LTC across the globe. I think that’s conservative, remember ath for the ratio is around .045 btc which was all the way back in November 2013. I think we’ll finally break that last record this time around and probably blow way past it.

The Bitcoin network’s average transaction confirmation time is around nine minutes per transaction. The equivalent figure for Litecoin is roughly two and a half minutes. Litecoin’s code is very similar to Bitcoin’s, giving it several key similarities that should be benefiting the “digital silver” counterpart currently, such as hard-coded scarcity. Litecoin was an incredible performer at the height of the last bull market, rising to beyond $360 per LTC in a flash.

Currently, activity is on an increasing incline, indicating the possibility of network upgrades, which could further increase the price. The Bitcoin price page is just one in Crypto.com Price Index that features price history, price ticker, market cap, and live charts for the top cryptocurrencies. Litecoin is currently the #5 cryptocurrency with a market capitalization of $3.3 billion.

But a bounce is due, according to one crypto analyst‘s interpretation of the LTCBTC price chart. Only 84 million LTC exist, a mere four times the amount of the BTC supply. And if scarcity is driving the demand behind Bitcoin, the fact that Litecoin www.beaxy.com/ isn’t at all following is confusing. Additionally, Litecoin was also listed on Blockbank, a CeFi and DeFi platform. This new listing will not only help LTC increase its reach, but will also allow new investors to enter the Litecoin ecosystem.

Results reveal that it discriminates three groups of different behaviors that could interest the investor depending on his/her risk-aversion profile, sufficiently. Table5 shows all the intersections, and those with a cardinality greater than 100 , representing 75% of the total market. In a contour plot that helps us to locate areas in which cryptocurrencies tend to be more concentrated. We also downloaded the data for 2019, to extend our experiment for a longer time-frame, analyzing the generalization of the results. Litecoin which is often referred to as the silver to Bitcoin’s gold didn’t fail to bring joy to its investors.

The miner paid $50 million initially, $8 million of which was written off and only about half of the rest are expected to be recovered. The Beaxy Exchange (beaxy.com) is operated by Windy Inc in the United States and around the world. Download the Beaxy Trading App to trade your LTC and access all Markets anytime and anywhere. Barchart is committed to ensuring digital accessibility for individuals with disabilities.