Investors are currently expecting a surge in the price of LitecoinJune 8, 2019
Several investors expect a full-blown Altseason as the bullish sentiment on Bitcoin is also spreading to the rest of the market.
Several investors are now selling their Bitcoin to fill in their bags.
A famous cryptocurrency trader tweeted thus, “BTC Pullback Areas: The lowest I see Bitcoin pulling back is the .618 fib ($5404) as any lower would be bearish, IMO. Major confluence w/ previous support/resistance between $6109 to $6814. I’m personally watching for a bounce in this area with major interest near $6400 (VPVR).”
The discussion on what the Altseason will bring the investor in substantial gains is a consistent topic of discussion.
Ethereum, Ripple, and Litecoin are pushing the majority of Bullish sentiment in the cryptocurrency market. Investors are currently expecting a surge in the price of Litecoin.
It is opined that if past performance indicates future performance, Ripple might explode in the forthcoming days.
Ethereum is also expected to come out in a powerful breakout.
A Thailand based bank has hinted that they will be using Ripple’s XRP. The bank official tweeted that an “XRP system will be announced soon.” However, the tweet has been deleted now. The bank had previously considered a cross-border trial by making use of Ripple. This trial was highly publicized, and the transaction time has been reduced from 2 days to just 1 minutes.
The SEC is not likely to flip the switch of the crypto: Clayton recently stated, “We have sophisticated rules and surveillance to make sure that people are not manipulating the stock market. Those cryptocurrency markets by-and-large do not have that. And we’re working hard on that.”
The cryptocurrencies have been marketed as if they resembled stocks and there are no rules in place to regulate their trading. However, when it comes to the stock markets, it has been filled with a lot of manipulation despite tight security laws.
A government-backed cryptocurrency might be soon launched from the Marshall Islands meant to serve a not-for-profit independent development fund to back the government-backed token. The SOV is expected to be accepted by all major vendors across the Island nation.
Peter Dittus, SOV’s Chief Economist, stated, “The SOV Development Fund’s mandate is to maintain the SOV infrastructure long term; to seed the ecosystem around the SOV; to promote the SOV and its uses, both domestically and internationally.”