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Litecoin Price Analysis: Can LTC/USD Surpass $175?

Litecoin Price Analysis

Litecoin price is holding a major support at $160-162 against the US Dollar. LTC/USD must break the $175 resistance for further gains in the near term.

Key Talking Points

  • Litecoin price has settled above the $160 pivot for more gains (Data feed of Kraken) against the US Dollar.
  • There is key connecting bullish trend line forming with support at $168 on the hourly chart of the LTC/USD pair.
  • The pair has to move above the $175 resistance level to avoid a downside reaction.

Litecoin Price Forecast

The past few sessions were mostly quiet, but litecoin price succeeded in holding the $160-162 support against the US dollar. The LTC/USD pair made an upside break attempt, but it faced a strong resistance near $175.

There were 2-3 attempts to surpass the stated $175 resistance. However, the price failed to move higher and traded below $170. There was a break below the 23.6% Fib retracement level of the last upside wave from the $155 low to $174 swing high.

Litecoin Price Analysis

However, the downside move was protected by the $165 level, which is a decent short-term support. Moreover, the 50% Fib retracement level of the last upside wave from the $155 low to $174 swing high also acted as a buy zone.

At the moment, there is a key connecting bullish trend line forming with support at $168 on the hourly chart of the LTC/USD pair. The pair is following the trend line and it could make another attempt to break the $175 resistance.

Once there is a break and close above $175, there could be more gains toward $190. However, the price must stay above the trend line support at $168. Below $168, the price may retest the last swing low at $165.

The most important support on the downside remains at $160-162. As long as the price is above $160, it is in a positive zone for more gains. The hourly RSI is slowly rising, which means LTC/USD could test or even break $175 in the near term.

Trade safe traders and do not overtrade!

The post Litecoin Price Analysis: Can LTC/USD Surpass $175? appeared first on Ethereum World News.

Bitcoin Price Analysis – The wait and see approach

Bitcoin (BTC) has been ranging within a downtrend recently, but has recovered 50% from lows set in early February. The market cap now stands at US$151.48 billion, with US$3.26 billion traded in the past 24 hours.

The Network Value to Transactions (NVT) Ratio: A Breakthrough for Cryptocurrency Valuation

Although we are currently in the midst of a major market correction, the last few years have seen a dramatic surge in the price and market capitalization of cryptocurrencies.

The Network Value to Transactions (NVT) Ratio: A Breakthrough for Cryptocurrency Valuation

Twitter and Square’s Jack Dorsey: Bitcoin Will Be World’s Single Currency

Twitter and Square’s Jack Dorsey: Bitcoin Will Be World’s Single Currency

Twitter and Square CEO Jack Dorsey recently had some remarkably positive remarks about bitcoin. Predicting the future of finance, he suggested that the “father of cryptocurrencies” is likely to become the world’s only currency within the next 10 years.

Speaking with The Times, Dorsey stated:

The world ultimately will have a single currency. The internet will have a single currency. I personally believe that it will be bitcoin.

Dorsey’s optimism comes at a time when bitcoin and virtual money have been deemed “not that significant” by varying regulators. During Argentina’s recent G20 summit, several panel members stated their belief that it was not necessary to globally regulate cryptocurrencies just yet.

They did, however, request that affiliate countries submit their recommendations for regulation by this coming July, so, while advocates of bitcoin may not see changes to the cryptocurrency infrastructure in the immediate future, that could change as early as this summer.

Still, cryptocurrency was a large topic at this year’s summit, and many agreed that for now, things would remain as they are.

Even longtime opponents like the Bank of England’s Mark Carney ultimately changed their sentiment. Carney, who has long discussed concerns of illicit activities surrounding virtual money, published a letter on the eve of the summit’s start explaining that cryptocurrency did not pose serious risks to the financial industry, as it only accounted for a small percentage of current transactions.

Right now, Dorsey doesn’t feel bitcoin is strong enough to take over the financial market, nor does he feel it has what it takes to serve as an “effective” currency, calling it “slow” and “costly” during his interview. He is leaving it to payment processing companies, like his own Square, to make bitcoin more acceptable to businesses.

Additionally, he has stated there are “newer technologies” emerging that build off the blockchain which should make bitcoin more accessible to the public in the long run.

Dorsey says that most modern-day bitcoin holders aren’t interested in spending their coins or using them to buy goods or services. Rather, they’re seeking to hang on to them for as long as possible to see how high they can spike in value. This, combined with the currency’s volatility, high transaction fees and low merchant adoption rate has prevented the currency from achieving all it can.

But Dorsey is confident that bitcoin will someday be used for everyday purchases, from cups of coffee to haircuts.

“We see it as a long-term path toward greater financial access for all,” he explains.

Dorsey has previously gone on record to describe bitcoin as the “next big unlock” for global finance, and his company, Square, released an illustrated children’s book discussing the advantages of cryptocurrency.

Twitter recently made headlines when it announced that it would be following in the footsteps of Facebook and Google by banning cryptocurrency and ICO-related ads. The social media giant is allegedly joining the fight to prevent scammers and fake companies from having their time in the limelight, thus paving the way for bitcoin’s legitimacy. The price fell nearly $700 soon after, though it quickly rebounded.

This article originally appeared on Bitcoin Magazine.

Industry Expert Tom Lee Expects all Altcoins to Surge Later This Year

The cryptocurrency markets are still subject to immense volatility right now. Over the past few weeks, both Bitcoin and all altcoins have been battered. According to industry expert Tom Lee, the altcoins will see positive momentum very soon. In his opinion, this extended bear market is coming to a close very soon. Only time will tell whether or not he is right in this assessment, though.

Tom Lee Envisions a Bright Future

It is pretty difficult to be optimistic about cryptocurrencies right now. All markets have been on the decline since January of this year. Neither Bitcoin or altcoins have made any sort of positive impact throughout the year. For the people who have been holding since late 2017, this current trend is anything but positive. In fact, it is safe to say a lot of people effectively panic selling during the past few weeks.

Tom Lee of Fundstrat Global Advisors LLC is not too concerned. In fact, he genuinely believes altcoins will recover pretty soon. Determining if this bear market is finally over, is a very difficult, though. We have seen so much negative momentum, it is almost impossible to envision a course reversal as of right now. It will take a lot of time until we see actual all-time highs again, though. In fact, that may not happen until very late in 2018.

Even Fundstrat acknowledges the past two months have been anything but positive. With their portfolio tracker dropping in value by 75%, the bear market is still in full effect as of right now. It is not the first time altcoins go through a major bear market, though. Instead, we have seen this cycle repeat itself several times over the past few years. As such, we should be close to the massive dip the markets are going through right now.

Looking Ahead at Altcoins

When looking at the bigger picture, it is evident there is still a lot of work to be done. Right now, it seems most of the downtrend for altcoins is over. That is, assuming Tom Lee is correct in his assessment based on current and previous market data. Patterns exist merely to be broken at some point. It is possible history will not repeat itself this time around, for all we know. The company’s report explains it as follows:

“We believe the current purgatory period will last for 150-175 days, implying a bull market for altcoins really starts mid-August to mid-September. The reason for this longer duration is the current dark clouds overhanging crypto are really altcoin specific.”

How things will unfold, remains to be determined. There is a lot of momentum left in the tank for Bitcoin and altcoins. At the same time, all of these markets are heavily manipulated as of right now. Breaking that spell will not be easy, but it will happen eventually. The bigger question is which cryptocurrencies will reach new all-time highs throughout 2018. Right now, there are no likely candidates to speak about, but things can always turn around.

The post Industry Expert Tom Lee Expects all Altcoins to Surge Later This Year appeared first on NewsBTC.

PR: Breakthrough Crypto Investment App Coinseed Launches Globally and Announces Its ICO

Crypto Investment App Coinseed Launches ICO

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. does not endorse nor support this product/service. is not responsible for or liable for any content, accuracy or quality within the press release.

Coinseed ICO

NYC, USA – New York based fintech startup Coinseed, announced today that its app – which lets users invest their spare change into crypto – has now launched globally. They also announced the ICO to start on March 20th which has 15% bonus for early investors who get whitelisted.

Originally, Coinseed was founded when it became evident there was a huge audience interested in cryptocurrencies but those people found it hard to invest in crypto. They mostly wanted to invest small amounts initially to learn. “Many of our app users came to us seeking a solution that makes it child’s play to buy small amounts of cryptocurrency. We believe the Coinseed app delivers this seamlessly. So today we’re giving the whole world a chance to try what we’ve created” said co-founder Del Davaasambuu.

The Coinseed app makes it very quick and simple to invest in most of the top cryptocurrencies. Setup takes less than five minutes to both fund an account and build a portfolio. One of the most unique features of the app is that a user is able to completely change their portfolio in seconds because there are no private keys, or digital wallets (it’s all held within the platform). This one feature alone extends Coinseed’s potential global market significantly – a market that is now downloading the app in large numbers.

The Coinseed app solves two other critical pain points for many users – accessibility and security of funds. Many holders of cryptocurrency find converting crypto into physical cash challenging. Coinseed makes it incredibly easy to withdraw money. Security of funds can also be a significant issue – particularly for those less technologically literate. Coinseed uses identical security measures as Mint, Venmo, Acorns and Transferwise. It also uses the latest technology to secure the cryptocurrencies it holds – in multisig cold wallets.

The Coinseed ICO has been designed to be a highly attractive proposition for investors. “We have rolled out a steady stream of new features in the app and have added a number of highly experienced advisors and team members. We are an actual business and we are already profitable. We believe the token configuration and offering make it a difficult combination to turn down”. Coinseed’s pre-ICO fundraising round came in at $200,000, and they are raising a further $10 million during their crowdsale beginning March 20th.

Learn more about Coinseed’s ICO
Join Coinseed’s Telegram channel

Contact Email Address
Supporting Link

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post PR: Breakthrough Crypto Investment App Coinseed Launches Globally and Announces Its ICO appeared first on Bitcoin News.

South Korean Financial Watchdog Touts Blockchain in Fintech Plans

South Korea’s Financial Services Commission plans to encoureage businesses to use blockchain tech in new payment systems and more.

Ethfinex generates $2.4 million in fees during the first month of operation

Ethereum token exchange ecosystem Ethfinex has finished its first full 30 days of operation and has provided a first-month report showing the new ERC20 platform has generated $2,400,000 million USD in fees during the period.

Ethfinex generates $2.4 million in fees during the first month of operation

Op Ed: The Many Faces of Sharding for Blockchain Scalability

Op Ed: The Many Faces of Sharding for Blockchain Scalability

Any programmer who has ever sat down to build a DApp at one point has had to think about the limits of current public blockchains, the most important and obvious one being their limited throughput, i.e., the number of transactions processed per second. In order to run a DApp that can handle real-world throughput requirements, blockchains must become scalable.

One answer to blockchain scaling is sharding. Sharding promises to increase the throughput by changing the way blocks get validated by the network. The key feature of sharding that makes it unique among all (on-chain) scaling solutions is horizontal scaling, i.e., the throughput increases as the mining network expands. This particular characteristic of sharding may make it the ideal fuel to spur rapid adoption of blockchain technology.

This article will briefly discuss the scaling issues with existing blockchain platforms — briefly only, because most readers must already be familiar with it. It will then discuss how sharding and its different forms can be a promising solution to the scaling problem. It will also touch upon some of the theoretical and practical challenges to implementing sharding and how some of these challenges can be overcome.

Scalability Issues With Existing Blockchains

One of the biggest problems that public blockchain platforms face today is scalability. All popular platforms are struggling to handle a larger number of transactions per second. In fact, today the public Ethereum and Bitcoin networks can handle 7-10 transactions per second on average. These figures are far inferior to those of centralized payment processors like Visa, which processes roughly 8,000 transactions per second on average.

Slow transaction processing creates a major problem because they choke up the networks, making it difficult to use the blockchain for applications such as real-time payments. The longer a payment takes to be processed, the more inconvenient it becomes for the end user; this is one of the main reasons why payment methods like PayPal and credit cards like Visa are still much more attractive. As more complex DApps start to rely on the same network, the problems caused by slower transaction speed will only compound.

From a more technical standpoint, all blockchain consensus protocols have a challenging limitation: Every fully participating node in the network must validate every transaction and must seek agreement from other nodes on it, and this is the component of blockchain technology that creates distributed ledgers and makes it secure.

In most chains like Bitcoin and Ethereum, nodes are run by the public. While the decentralized consensus mechanism provides some vital advantages such as fault tolerance, security, political neutrality and authenticity, this method to verify chains comes at the cost of scalability. It will take more and more processing power to verify these public blockchains as they get larger, and this may create bottlenecks in these networks and slow down the creation of new applications.

Sharding: Divide and Conquer

Sharding is a scaling technique that was inspired by a traditional concept of database sharding, whereby a database is partitioned into several pieces and placed on different servers. In the context of a public blockchain, the transaction load on the network would be divided into different shards comprising different nodes on the network. As a consequence, each node would process only a fraction of incoming transactions, and it would do so in parallel with other nodes on the network. Breaking the network into shards would result in more transactions being processed and verified simultaneously. As a result, it becomes possible to process more and more transactions as the network grows. This property is also referred to as horizontal scaling.

We could imagine that existing blockchains operate like a busy highway with one toll station operating on only one toll booth. The result would be a traffic jam as people wait in long lines to pass the toll station. Implementing a sharding-based blockchain is like adding 15 or 20 toll booths to the highway. It would dramatically improve the rate at which traffic can progress through the stations. Sharding would make a tremendous amount of difference and dramatically improve transaction speed.

The implementation of sharding-based blockchains could have various benefits for public blockchains. First, thousands of transactions or even more could be processed every single second, changing the way people feel about the efficiency of cryptocurrencies as payment methods. Improving transaction throughput will bring more and more users and applications to decentralized systems, and this will, in turn, advocate further adoption of blockchains, making mining more profitable and attract more nodes to public networks, creating a virtuous cycle.

Furthermore, sharding could help bring down transaction fees since less processing will be needed to validate a single transaction; nodes can charge smaller fees and still be profitable to run. Coupling low fees with high transaction processing capability, public chains will become increasingly attractive to real-world use cases. The more these positive trends continue, the more mainstream adoption we’ll see of cryptocurrencies and blockchain applications in general.

Sharding Strategies

This is the basic concept, but there are more granular ways to implement sharding strategies like network and transaction sharding, and state sharding. With network and transaction sharding, the network of blockchain nodes is split into different shards, with each shard formed to process and reach consensus on a different subset of transactions. This way, unconnected subsets of transactions can be processed in parallel, significantly boosting the transaction throughput by orders of magnitude.

On the other hand, on today’s mainstream public blockchains, the burden of storing transactions, smart contracts and various states is borne by all public nodes, which could make it prohibitively expensive in terms of required storage space to maintain ongoing operations on the blockchain.

One potential approach, called state sharding, has been proposed to resolve this issue. The crux is to divide the entire storage into pieces and let different shards store different parts; thus every node is only responsible for hosting its own shard’s data instead of the complete blockchain state.

Complexities Underlying Sharding

While all the different forms of sharding may be very intuitive, unspooling the technical details can reveal the complexity of the approaches and the underlying challenges. Some of these challenges are easy to overcome, while others not quite so. Generally speaking, network and transaction sharding are easier to accomplish while state sharding is much more complicated. Below, for the different sharding mechanisms, we categorically discuss some of these challenges and how feasible are they to be overcome.

Network Sharding

The first and foremost challenge in sharding is the creation of shards. A mechanism will need to be developed to determine which nodes reside in which shard in a secure way in order to avoid possible attacks from someone who gains a lot of control over a particular shard.

The best approach to beat an adversary (at least in most of the cases) is through randomness. By leveraging randomness, it should become possible for the network to randomly sample nodes to form a shard. Random sampling prevents malicious nodes from overpopulating a single shard.

But, where should the randomness come from? The most readily available source of public randomness is in blocks, for instance, the Merkle tree root of transactions. The randomness available in blocks is publicly verifiable and (close to) uniform random bits can be extracted from it through randomness extractors.

However, simply having a randomized mechanism to assign nodes to a shard is not sufficient. One must also ensure that the network agrees on the members in a shard. This can be achieved through a consensus protocol like proof of work, for example.

Transaction Sharding

Transaction sharding isn’t as simple as it may sound. Consider introducing transaction sharding in a Bitcoin-like system (without smart contracts), where the state of the system is defined using UTXOs. Let us suppose that the network is already composed of shards and a user sends out a transaction. The transaction has two inputs and one output. Now, how should this transaction be assigned to a shard?

The most intuitive approach would be to decide on the shard based on the last few bits of the transaction hash. For instance, if the last bit of the hash is 0, then the transaction is assigned to the first shard, else it is assigned to the second shard (assuming we have only two shards). This allows the transaction to be validated within a single shard. However, if the user is malicious, he may create another transaction with the same two inputs but a different output — yes, a double spend. The second transaction will have a different hash and, hence, the two transactions may end up in different shards. Each shard will then separately validate the received transaction while being oblivious of the double-spend transaction being validated in the other shard.

In order to prevent the double spend, the shards will have to communicate with each other while the validation is in progress. In fact, since the double-spend transaction may land in any shard, a given shard receiving a transaction will have to communicate with every other shard. The communication overhead may, in fact, defeat the entire purpose of transaction sharding.

On the other hand, the problem is much simpler to solve when we have an account-based system (without smart contracts). Each transaction then will have a sender’s address and can then be assigned to a shard based on the sender’s address. This ensures that two double-spend transactions will get validated in the same shard and hence can be easily detected without any cross-shard communication.

State Sharding

With the promises of state sharding come a new set of challenges. As a matter of fact, state sharding is the most challenging of all sharding proposals so far.

Continuing with our account-based model (let us not bring in smart contracts for the moment), in a state-sharded blockchain, a specific shard will only maintain a portion of the state. For instance, if we have two shards and only two user accounts, say for Alice and Bob, respectively, then each shard will keep the balance of one single user.

Imagine that Alice creates a transaction to pay Bob. The transaction will be handled by the first shard. Once the transaction is validated, the information about Bob’s new balance must be shared with his shard. If two popular accounts are handled by different shards, then this may entail frequent cross-shard communication and state exchange. Ensuring that cross-shard communication will not outweigh the performance gains from state sharding is still an open research problem.

One possible way to reduce the cross-shard communication overhead is to restrict users from making cross-shard transactions. With our example, this would mean that Alice would not be allowed to transact directly with Bob. If ever Alice has to transact with Bob, she will have to hold an account in that shard. While this does eliminate any cross-shard communication, it may limit the usability of the platform somewhat.

The second challenge with state sharding is data availability. Consider a scenario where, for some reason, a given shard is attacked and goes offline. Since the state of the system is not replicated across all shards, the network can no longer validate transactions that have dependency on the offline shard. As a result, the blockchain may become largely unusable. A solution to this problem is to maintain archival or backup nodes that can help the network troubleshoot and recover from data unavailability. However, those nodes will then have to store the entire state of the system and hence may introduce centralization risks.

Another point to consider in any sharding mechanism (certainly not specific to state sharding) is to ensure that shards are not static for resilience against attacks and failures; the network must accept new nodes and assign them in a random manner to different shards. In other words, the network must get reshuffled once in a while.

However, reshuffling in the case of state sharding is tricky. Since each shard only maintains a portion of the state, reshuffling the network in one go may render the entire system unavailable until some synchronization is completed. To prevent outage, the network must be reshuffled gradually to ensure that every shard has enough old nodes before a node is evicted.

Similarly, once a new node joins a shard, one has to ensure that the node is given ample time to sync with the state of the shard; otherwise the incoming node will reject outright every single transaction.


In conclusion, sharding is definitely an exciting and promising direction for blockchains to pursue in order to solve scalability problems without compromising decentralization and transparency. However, there is no doubt that sharding, particularly state sharding, is notoriously difficult to do right both at the design level and at the implementation level.

Sharding should be handled with care. Also, more research needs to be done to establish the viability of state sharding as it may not be the silver bullet to storage problems. Researchers and developers are actively seeking alternate solutions at this moment. And perhaps, the answer is just right around the corner.

This is a guest post by Dr. Yaoqi Jia, head of technology at Zilliqa. Views expressed are his own and do not necessarily reflect those of BTC Media or Bitcoin Magazine.

This article originally appeared on Bitcoin Magazine.

Ethereum Price Analysis – Oversold

Ethereum (ETH) began to recover yesterday, after tumbling almost 35%. The market cap now stands at US$53.31 billion, on exchange-traded volume of US$1.5 billion in the past 24 hours. The ETH/BTC and ETH/LTC ratios have also dropped sharply, signaling a narrow selloff in ETH alone.