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Charlie Lee Says Litecoin Cash Is A Scam

Charlie Lee Says Litecoin Cash Is A Scam
The average person is unlikely to know what Litecoin is, let alone that it is about to get its very own fork, similarly to what happened to Bitcoin last year. But for those who are aware of Litecoin's existence, the upcoming arrival of Litecoin Cash is being 'sold' on the premise that it is a faster version of Litecoin, cutting down transaction times. Whether you know about it or not, the word is that you should avoid Litecoin Cash, as the founder of Litecoin himself - Charlie Lee - sees it as a potential scam. One of the concerns surrounding cryptocurrencies, and the primary reason why some kind of regulation is needed, is that anyone has the power to launch their own digital currency and get money out of people under false pretences. When the bubble bursts, just make another new one, and there's no law in place to stop you. Large Pile of Scam Road Signs This is probably why this new fork has 'Litecoin' in its name, even though it has nothing to do with the Litecoin creator. The explanation is that current Litecoin holders will receive 10 Litecoin Cash coins for every Litecoin unit they own when the fork happens sometime in the next week. Naturally, this sounds like a pretty sweet deal to Litecoin owners, especially those who bought Litecoin tokens when the price was at its lowest. The coin's value skyrocketed from a level of $3.73 around 12 months ago to an impressive $365 in December 2017, before receding to the level of approximately $150 where it sits now. Going by the announcements from Litecoin creator Charlie Lee, you should handle the upcoming Litecoin Cash with great care and attention. Just because its name contains the word 'Litecoin', that doesn't mean it is a legitimate endeavour. And the last thing you want is to be scammed out of your hard-earned money. Source: https://www.youtube.com/watch?v=N96lmLGwvJc Image Source: Pixabay Sponsored by Iconiq Lab ICO Banner

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BTC/USD Trapped By Moving Averages: Sally Ho's Technical Analysis 29 November 2020 BTC

BTC/USD Trapped By Moving Averages:  Sally Ho's Technical Analysis 29 November 2020 BTC

Bitcoin (BTC/USD) traded sideways early in today’s North American session as the pair appreciated to the 18248.21 area trading as low as the 17535.26 area in the Asian session, with the intraday low representing a test of the 38.2% retracement of the recent depreciating range from 19500 to 16200.  Traders observe that BTC/USD’s upside was capped by the 200-hour simple moving average during the European session, and supported around the 23.6% retracement of the depreciating range from 18980 to 17610.77 early in the North American session.  Also, the 50-bar 4-hourly simple moving average provided technical resistance during the North American session, and the intraday high also represented a test of an upside price objective around the 18256.14 area.  The pair stopped short of testing the 15808.49 area during the recent move lower, representing the 23.6% retracement of the wide appreciating range and absolute 2020 range from 3858 to 19500.  Significant Stops were elected during the decline including below the 18605.14, 18275.16, 18016.74, 17604.12, 17517.42, 17156.69, 17099.13, 16905.00, 16603.10, 16357.50, and 16292.58 levels.  If the pair is able to resume its upward trajectory and establish a new all-time high, traders are carefully monitoring the 20311.36 and 21909.24 areas as upside price objectives.  Similarly, the 20534.46 area is an upside price objective related to buying demand that originated earlier this year around the 6854.67 area. 

Traders will pay close attention to some potential areas of technical support during pullbacks lower and these include the 16092.69 and 15935.90 areas.  Notably, the 15935.90 and 16304.69 areas represent the 76.4% and 78.6% retracements of a historical depreciation from 19891.99 to 3128.89.  Further below current market activity, traders are paying close attention to additional potential areas of technical support during pullbacks and these include the 14273.50, 14259.01, 14101.50, 13989.55, 13892.29, 13705.50, 13663.43, and 13594.42 levels. Chartists are observing that the 50-bar MA (4-hourly) is bullishly indicating above the 100-bar MA (4-hourly) and above the 200-bar MA (4-hourly).   Also, the 50-bar MA (hourly) is bearishly indicating below the 100-bar MA (hourly) and below the 200-bar MA (hourly).

Price activity is nearest the 50-bar MA (4-hourly) at 18204.22 and the 200-bar MA (Hourly) at 18235.20.

Technical Support is expected around 16200/ 15996.17/ 15479.66 with Stops expected below.

Technical Resistance is expected around 19500/ 20311.36/ 21909.24 with Stops expected above.  

On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.

On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.

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ETH/USD Orbiting 551.65 Retracement Level: Sally Ho's Technical Analysis 29 November 2020 ETH

ETH/USD Orbiting 551.65 Retracement Level:  Sally Ho's Technical Analysis 29 November 2020 ETH

Ethereum (ETH/USD) traded sideways early in today’s North American session as the pair appreciated to the 558.68 area after trading as low as the 531.00 area in the Asian session, a test of the 50% retracement of the appreciating range from 439.77 to 623.22.  Traders are observing that ETH/USD is tightly oscillating around the 551.65 area, representing the 50% retracement of the depreciating range from 623.22 to 480.08.  The next upside retracement levels in this range include the 568.54, 589.44, and 592.59 levels.   The recent pullback was a test of the 479.03 area, representing the 78.6% retracement of the appreciating range from 439.77 to 623.22.  One level that traders are carefully monitoring is the 503.57 area, a level that represents the 38.2% retracement of the recent appreciating range from 310.00 to 623.22, and price activity was recently buoyed above this area.  Stops were recently elected below a series of retracement levels including 579.73, 563.58, 553.14, 531.50, 526.88, 509.85, 496.86, and 483.06. Larger Stops were elected below the 550.01 and 504.72 areas, retracement levels related to the wider appreciating range from 313.00 to 623.22.  On the upside, Stops were recently elected above the 615.19 area during the climb higher, an upside price objective related to buying activity that originated around the 142.10 level earlier this year.  The pair’s next upside price objectives include the 637.79, 668.87, 679.78, and 698.88 levels.   Traders are also paying close attention to technical resistance around the 627.83, 638.28, and 652.36 areas. 

Stops were also recently elected above the 583.59 and 592.24 areas during the ascent, retracement levels related to selling pressure that commenced around the 894.50 and 1419.96 levelsStops were also recently elected above the 519.16, 521.13, 524.97, and 540.64 areas during the ascent higher, preceded by Stops triggered above the 503.54, 508.69, and 510.22 levels.  During pullbacks lower, traders are paying close attention to the pair’s trading activity around the 461.31 area, an upside price objective related to buying pressure that emerged months ago around the 125.52 area.   Some additional downside retracement levels include 432.71, 431.36, 427.78, 424.14, 422.81, 419.74, 415.20, 411.91, and 408.12. Additional areas of potential downside support include the 400.56, 395.87, 387.62, 380.03, 377.17, 367.24, 366.72, 354.44, and 353.78 areas.  Traders are observing that the 50-bar MA (4-hourly) is bullishly indicating above the 100-bar MA (4-hourly) and above the 200-bar MA (4-hourly).  Also, the 50-bar MA (hourly) is bearishly indicating below the 100-bar MA (hourly) and below the 200-bar MA (hourly).

Price activity is nearest the 50-bar MA (4-hourly) at 554.10 and the 200-bar MA (Hourly) at 553.94.

Technical Support is expected around 417.60/ 388.49/ 366.72 with Stops expected below.

Technical Resistance is expected around 627.83/ 637.79/ 668.87 with Stops expected above.

On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.

On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bullishly above MACDAverage.

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Logic invests in BTC and seems to have made a hefty profit already

Logic invests in BTC and seems to have made a hefty profit already

Quick take

1 minute read

  • Could he have registered a $2 million profit already?

Sir Robert Bryson Hall II, or as you probably know him - Logic, recently posted a video to his Instagram story saying that he bought $6 million worth of bitcoin last month.

He said YOLO during his video but it seems that his investment could turn out to be an interesting financial move.

If by “last month“, the rapper means the 31st of October or before, Then that means his $6 million investment would have been bought at a price of around $13,800. This equates to just over 430 bitcoins and if that is correct, he would register a profit of around $2 million going off today’s prices.

This comes after the Game of Thrones actress Maisie Williams questioned her followers on Twitter earlier this month asking whether she should go “long on bitcoin“. Of course, she followed up with another tweet later in the day saying that she had sunk some of her money into the asset.

For Logic, he has more than likely registered a high profit from his investment back in October, if that is indeed when he actually made the move to trade in the asset.

For more news on this and other crypto updates, keep it with CryptoDaily!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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Selling your car for bitcoin: Jason Williams of Morgan Creek digital pawns off his old Chevrolet for the leading coin

Selling your car for bitcoin: Jason Williams of Morgan Creek digital pawns off his old Chevrolet for the leading coin

Quick take

1 minute read

  • How far would you go to obtain bitcoin?
  • Jason Williams of MCD cells his Chevrolet to invest in bitcoin.

Momentum for bitcoin and the overall crypto space is definitely on the rise this month. Following the United States presidential election, much more retail and institutional investors have been drawn to the industry.

This is evident from the co-founder of Morgan Creek digital, and Jason Williams he has recently sold his car to invest in the leading coin.

Posting to Twitter earlier this month, Williams said that he sold his 2007 Chevrolet Suburban for 0.4 bitcoins. At the time of writing, this is about $7300.

Bitcoin has been on the rise massively throughout November and it only seems that it is going to keep ongoing. That being said, it is always worth doing your own research into cryptocurrency as we are not financial advisors and this is not financial advice.

Many are predicting that bitcoin is well on the way for a massive breakout and if this comes to fruition, Williams could be seeing massive profits from selling his old Chevrolet.

For more news on this and other crypto updates, keep it with CryptoDaily!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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