Cryptocurrency Hard fork – Hype – Sentiment – Reinventing the Global Financial System

By Steven Anderson June 21, 2019 Off
crypto fork

Waiting for the market to correct might sometimes warrant a need to be in for a long haul.  Cryptocurrency has been around as a disruptive technology that focuses on reinventing the global financial system.  There are a lot of advancements happening with every kind of cryptocurrency, whether Bitcoin or TCAT token to make it happen.

The Ethereum Classic developers are committed to releasing a system-wide upgrade on the hard fork. Ethereum Classic is one of the top 20 performing cryptocurrencies by market capitalization.

A recent blog post which talked about the forthcoming hard fork read, “ETC Labs will work jointly with all developers and teams to complete the hard fork, making ETC stronger.”

The price of ETC has been rallying, and it has broken the key $270 and $280 resistance levels versus the USD.  The price is now trading at $275, and it might likely accelerate to touch upon the $300 level.  The hourly chart shows a resistance near the $270 range on the ETH/USD hourly chart.  The pair is setting up for improved gains, and it might soon test the $300 barrier.

Major Support level is seen at $275, and the major resistance level is seen at $285.  The RSI is seen in the overbought zone. It is expected to correct lower towards 70.

Litecoin has been massively surging towards a new yearly high, and traders were guessing for how high the Litecoin can go.  The price surge is probably due to the halving sentiment.  It was previously opined that the price of the Litecoin might go up as high as $250 or $300 during the halving week.  However, the life span of hype will not last for long.  It might not even continue for a day, and in the light of this fact, it was considered that the price might later correct to $200.  The price of the Litecoin is caught up among the broad-based indecision and directionless motion of the market sentiment. 

With the Facebook Libra feared to burn the roofs of governments, Rep. Maxine Waters stated, “There are a lot of issues with Facebook,” she said. “They’re creating their cryptocurrency — it’s going to be an alternative to the dollar, so I think it’s very important for them to stop right now what they’re doing so that we can get a handle on this.”

And, Facebook is not likely not going to stop anywhere to provide a handle for the government.

Waters opined that what Facebook is doing is like starting a bank without going through the steps to do it.