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Litecoin Halving Failed to Raise LTC Price But Bitcoin Halvening Will Work: Analyst

  • Yuri Molchan
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    While some believe that since the LTC halving failed to affect the LTC price and so neither will the upcoming halving impact BTC, an analyst says it is not true

Litecoin Halving Failed to Raise LTC Price But Bitcoin Halvening Will Work: Analyst
Contents

After numerous anticipations of Litecoin price surging after the halving on August 5, many got disappointed and now express an opinion that the Bitcoin halving that is due next year will not have much of an effect on the BTC quotes either.

A prominent BTC analyst on Twitter, PlanB, opposes that opinion, giving a reason why the LTC price failed to benefit from the much-expected halving.

Lack of relationship with the stock-to-flow ratio

The crypto analyst PlanB claims that the reason why the Litecoin price was unable to go up after the halving was a low connection with the stock-to-flow ratio.

As the upcoming BTC halvening is drawing closer, slowly but surely, many crypto experts are positive that as soon as the amount of minted BTC gets cut down by half, the price of the asset will surge. Among them is the co-founder of Morgan Creek Digital Anthony Pompliano. Many times, he has voiced that thought on CNBC’s Fast Money show to his crypto-skeptic opponents.

However, some in the crypto community also show their skeptical attitude to the possible BTC price spike after the approaching halving in 2020.

The analyst explains the LTC halving ‘failure’

PlanB pointed out that the LTC price is not so much connected to the stock-to-flow ratio, unlike Bitcoin. This ratio indicates the overall amount of a commodity stored in inventories and divided by its amount produced on an annual basis.

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Alabama farmers are accepting LTC

Regardless of the LTC halving’s impact on its price, LTC keeps spreading around the world as a reliable means of payment.

A Twitter user has reported that LTC is now being accepted at a farmer’s market in the Alabama state, along with BTC.

Cover image via 123rf.com
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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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Can the US Federal Reserve Kill Bitcoin? Crypto Fund Manager Brian Kelly Knows the Answer

  • Alex Dovbnya
    📰 News

    The Fed could surely stifle the cryptocurrency industry, but it doesn’t have the power to completely kill it 

Can the US Federal Reserve Kill Bitcoin? Crypto Fund Manager Brian Kelly Knows the Answer
Contents

Amidst the growing regulatory pressure in the US, many wonder whether it would be possible for the US Federal Reserve to ban Bitcoin. According to BKCM founder and CEO Brian Kelly, this would be very difficult, but there are certainly some ‘choke points’ that could put a spanner in the works for cryptocurrency enthusiasts.

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The Fed won’t stop Bitcoin

On Aug. 8, Kelly joined the team of CNBC’s ‘Squawk Box’ to discuss the future of Bitcoin as a hedge asset. Anthony Scaramucci, the former White House communications chief, was another notable guest who appeared on today’s show.

When 'the Mooch' stepped into the conversation and asked whether the Fed can put the brakes on Bitcoin, Kelly replied that it would be hard to achieve.

In terms of killing, that’s very difficult, that’s very much like the Internet”    

However, the central bank could block fiat on-ramps. That would make it much harder to buy BTC.

Major exchanges, such as Coinbase and Gemini, campaign for regulations to retain access to the fiat market.

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Bitcoin as a macrohedge

Kelly claims that macro funds started trading BTC as an alternative to gold in 2019. Still, the long-term Bitcoin bull admits that he hates the term ‘safe haven’ given the asset’s extreme volatility.

As reported by U.Today, the devaluation of the Chinese yuan conveniently coincided with Bitcoin breaking above $12,000, which is clearly a sign of capital flight.

When asked by Melissa Lee whether there it affected the rest of the crypto-loving Asian market, Kelly replied there was indeed a ripple effect. 

South Korea, Vietnam, most of Southeast Asia, that’s where you are seeing most of the capital flight coming from”      

Cover image via 123rf.com
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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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