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Prasanna Peshkar

Bitcoin Price Jumps to a Year Time High

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The cryptocurrency market is reaching new heights day by day. The prices of major cryptocurrencies are observing hourly growth at the time of writing this article. According to Coinmarketcap, the major cryptocurrency bitcoin price has increased by 7% on Monday, filing approximately 31% monthly accumulation and more than 150% percent yearly accumulation against the USD.

Bitcoin BTC price June 17 highest in 2019
Source: CoinMarketCap.com

Critical progress beyond significant $9,000 has developed the mechanical plot, though, it can be assumed that the BTC may reach a stabilization point. The other significant cryptocurrencies ETH plummeted by 1.55% to $266.02, XRP increased by 2.36% to $0.42844, and Litecoin was declining by 0.63% to $134.91. Bitcoin was encouraged by stories that Facebook is ready to launch its cryptocurrency on Tuesday.

What are the reasons behind the recent Bitcoin price rally?

Just a few days ago, when the BTC value was hanging at nearly $8090, the volume of the cryptocurrency was at approximately $598 million. One of the main reasons behind this surge is the expectation of the CME bitcoin futures market.

Also, the impact of a trade ware between various countries is the second reason. Many crypto enthusiasts also think that this surge is because of comprehensive development in the attitude about the crypto market. Another essential reason behind this surge is Facebook’s entry into the crypto world with many organizations as key allies.

The major cryptocurrency exchange Binance has updated its policies for US customers. This could be one of the main reasons why the Bitcoin price has surged. After this decision, the price of BNB decreased by 12.6% to 25,204satoshis The decrease symbolizes that people have shifted money out of BNB and into BTC, Alex Kruger – a prominent Fundamental & Technical Analyst tweeted about this.

While the mother of all cryptocurrencies, Bitcoin, has hit its highest 2019 price, it would need to keep pushing to become a mainstream currency to main and keep improving the value.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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Bitcoin Cash now accepted at ELIPAY, leading supermarket chain in Slovenia

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The Bitcoin Cash (BCH), a cryptocurrency, which is rated number five on the CoinMarketCap, is once again in the news. BCH users are now able to finish their grocery shopping by using Bitcoin cash. According to the announcement, BCH can now be used by people for buying groceries because Slovenian based mobile wallet company Elipay accepts it now. The official blog of Eligma, which developed Elipay said,

“Elipay users now have the possibility of buying daily fresh fruit and vegetables, along with 20,000 other products. Grocery shopping has just acquired a crypto dimension — with Elipay.”

Croatia and Slovenia are the two countries which are majorly dependant on tourism. This is one of the reasons that both of these countries have been aggressively adopting cryptocurrencies, Bitcoin Cash (BCH) is one of them.

BCH founder Roger Ver first executed such kind of transaction at one notable supermarket Tuš. The BCH founder finished his purchase by using Eligma’s crypto transaction method called Elipay and Bitcoin.com Wallet. Bitcoin Cash is a Bitcoin hard fork that arrived in August 2017.

Bitcoin Cash enables retailers and average users to execute secure and cheap transactions. Elipay is used by various online and offline stores, bars, eateries and concert venues. It is now available at 14 primary areas of Tuš, one of the prominent Slovenian supermarket.

This decision has been appreciated by many cryptocurrency enthusiasts as well as BCH users and traders. Subsequently, it is understood that this resolution might stimulate the widespread adoption of cryptocurrency, particularly in a day to day use. The Elipay combines with the current Point of Sale (PoS) mechanism. There are more than 100 locations in Slovenia that support the combination.

The Elipay wallet by Eligma is accessible for Android and iOS mobile users. Elipay holds cryptocurrencies like ETH, BCH, BTC, and its primary token called ELI. Bitcoin Cash aims to be everywhere, and Elipay has stepped in to plant the economic prosperity’s seeds.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Never miss our daily cryptocurrency news, price analysis, tips, and stories. Join us on Telegram | Twitter or subscribe to our weekly Newsletter.

Stellar (XLM): Why this cryptocurrency doesn’t get the attention it deserves?

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Stellar Lumens (XLM) is one of the top cryptocurrencies in the crypto market. According to Coinmarketcap, it is currently occupying the rank 10 in the charts. XLM is the digital token, cryptocurrency, of the stellar system. It is an open-source system for currency trade established in spring 2014 by Joyce Kim and Jed McCaleb.

Lumens are the Stellar system’s principal assets. The principal means that Lumens are assembled in the Stellar network. Stellar has also fought hard to maintain its rank among the top cryptos as the market support for a bull race presumed to cut out in the year 2019. Still, Stellar doesn’t appear to draw as much recognition as other modern cryptocurrencies.

Weiss Ratings, an independent trusted rating provider of Stocks, Mutual Funds, Cryptocurrencies, ETFs, & Financial Institutions in a tweet asked the question to its Twitter followers, questioning why Stellar isn’t widely accepted yet having one of the ablest consensus algorithms. The answers were mixed.

https://twitter.com/ikuozak/status/1135982549036142592

Poor Marketing

According to one Twitter user, Stellar is not popular mostly because of its weak or zero marketing. The user specified Justin Sun, Tron’s CEO, in that view. Given, Justin has been a significant marketing power behind Tron’s progress. If Stellar’s developers and platform administrators could be more proactive and market their brand more aggressively, there could be substantial growth resulting in more enactment of the novel Blockchain technology just like other cryptocurrencies such as Tron or even Ripple.

Consensus Dilemmas

Another Twitter user mentioned that Stellar isn’t really that famous, particularly contemplating that the platform has been facing some dilemmas in its consensus algorithms. Just three nodes within its system once blocked Stellar’s consensus algorithm. The user further elaborated that such events don’t occur in other systems like the XRP or Tron.

The Stellar servers communicate with each other to authenticate that movements are well-defined and reliable and get achieved to the global ledger. The Consensus algorithm is responsible for the tangible financial transaction.

Stellar and Mt. Gox

This is one of the most significant issues that Stellar is facing. The notorious Mt. Gox embarrassment disturbed the Cryptocurrency market and established far-grounded anxieties about the security of Blockchain platforms as well as moral norms released by some of the units behind projects. Stellar hasn’t really attracted a lot of investor trust, mainly since it is operated by Jed McCaleb, the same fellow who served Mt.GOX. Mt.GOX was a crypto exchange surrounded by scandals.

Reserved Company

One user stated that the Stellar Lumen’s organization is not as bright as most people would expect. The user also advanced further to declare that the foundation’s stocks and funds are not audited which suggests that its activity is suspicious.

Conclusion

Although these cases may be true or not, this truth-obtaining sortie by Weiss Ratings should be an epiphany for the authority of Stellar Lumen’s foundations to launch some moves to obtain their legitimate position in the Blockchain technology world and Crypto market.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Never miss our daily cryptocurrency news, price analysis, tips, and stories. Join us on Telegram | Twitter or subscribe to our weekly Newsletter.

CNBC host: Buy Litecoin (LTC) at any cost

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The cryptocurrency world is full of surprises. CNBC’s Fast Money, an American talk show where panelists from Wall Street and various sectors review business-related tales, analyzed Litecoin and bitcoin’s metaphorical growth in recent periods.

According to CNN, the panel cheered and applauded at the allusion of Litecoin (LTC)’s 400% value growth. The CNBC host concluded the section screaming “Sell the house, sell the car, sell the kids. Buy litecoin!”

Litecoin price analysis

LTC/USD via the weekly table representation has delivered a powerful impact above a stout wall of friction, $90-100 scale. Litecoin (LTC) exchanged up 2.9% against the USD, and at the time of writing, it is now trading at $116.96. The amount of LTC addresses have increased drastically in the year 2019, and many notable recommendations have boosted the coin’s characterization.

After catching a low of USD 22 in December 2018, LTC has displayed a tremendous growth to USD 118.15 in May 2019. It’s a sudden growth of more than 400% that dominates even bitcoin’s growth. There is an opportunity for the buyers to push LTC/USD higher towards the all-time-high.

On Tuesday, the Litecoin price was trading under around 2.4%. LTC/USD in the concourse sketch the most significant level observed since June 2018. The coin is pushed above before halving programmed on August 6, 2019. Halving will decrease the profit of miners.

What is Halving?

Halving indicates that the commission accepted by Litecoin miners for processing and verifying purchases will be decreased by 50%, from 25 LTC to 12.5 LTC. As halvings are deemed to reduce reflation of the cryptocurrencies; they usually work as a robust bullish incentive. Investors anticipate a relative value development and try to purchase the coin before the situation.

What’s Next?

Franklyn Richards, Litecoin Foundation director, has cautioned investors about the recently developed excitement. He said litecoin might be joining bubble territory if the rate remains to decouple itself from the project’s underlying activities.

He said,

“Price has by far and away ran away from any on-chain metrics, meaning while this growth is positive it is not currently sustainable and we could see a pullback. Otherwise, we may risk finding ourselves in another bubble scenario sooner than we realize.”

Lately, Litecoin (LTC) was in the news when one user spent a price of $17,500 for executing transactions value of $1000. The transaction has been performed by the mining pool LTC.top, which is based in China. The transaction was completed in block 1636831. This huge transaction fee accelerated the normal fee from $0.05 to $0.70. It should be perceived that the transaction charges were not this big when the cryptocurrency was being exchanged nearby 398 USD in December 2017.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.