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Litecoin Price Flash-Crashes by 10 Percent While Bitcoin Dips to $9,600 Level

  • Alex Dovbnya
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    Cryptocurrency market overview: Bitcoin and top altcoins remain in the sea of red after the underwhelming Bakkt launch 

Litecoin Price Flash-Crashes by 10 Percent While Bitcoin Dips to $9,600 Level
Cover image via 123rf.com

Litecoin, the silver to Bitcoins gold, saw its price plunging by nearly 10 percent to $64.55, its lowest point since August. At the time of writing, the fifth biggest cryptocurrency is trading at $67.01, according to CoinStats data.

Litecoin price
image by coinstats.app

Meanwhile, Bitcoin is struggling to touch the pivotal $10,000 mark after seesawing back and forth for a couple of days. Bakkt’s underwhelming trading numbers might have taken a toll on its short-term price recovery.

ShapeShift CEO Erik Voorhees assures his newbie followers that it might not be the best time to sell their BTC despite slugging price action. 

As reported by U.Today, Bitcoin is inching closer to breaking out of the great descending triangle of 2019.

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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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Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency

  •  Denis Sinyavskiy
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    Former US Congressman Ron Paul shares his thoughts on the possible creation of Fed’s own cryptocurrency

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency
Cover image via www.123rf.com

Former US Congressman Ron Paul spoke on Fox Business and said that the Fed should not think about creating its own cryptocurrency.

Fed’s Crypto: To Be or Not To Be?

Rumors have been circulating for the past few months about the Fed possibly creating own cryptocurrency. It is expected that a digital coin would become a competitor to its counterparts on the market, and may even replace fiat money. President Patrick Harker, President of the Federal Reserve Bank of Philadelphia, commented on such rumors at a recent conference:

“It is inevitable. I think it is better for us to start getting our hands around it.”

However, there has not been no official follow-up by the Fed towards a crypto exchange. While proponents of this idea believe such innovation is necessary, it is expected that the exchange could stop the current delays involving US bank transfers.

What do the opponents think about the Fed's own cryptocurrency?

The idea of ​​creating the Fed's cryptocurrency has its opponents. This includes Ron Paul, who believes that the Fed is in a better position to stay away from digital coins and allow the private blockchain sector and payment platforms to resolve this discussion in real-time. What the Fed plans to do next is unclear, but the central bank may still enter the game.

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About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.

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