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Litecoin News

Litecoin Founder Says LTC Development Is Strong, But What Is Happening?

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Litecoin Founder
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Litecoin is a cryptocurrency that is viral in the coming altcoin news, mostly because of the significant amount of fear, uncertainty and doubt that is around it. Following the recent halving event, a lot of analysts thought that Litecoin (LTC) would surge – and so did the Litecoin founder, Charlie Lee.

In fact, the founder of the cryptocurrency has been attempting to clear the air of any concerns in a recent tweet thread. As he said, the LTC development is still strong. However, the Litecoin founder also knows that the investors may be still disillusioned by the price action for LTC – which could eventually lead to an exodus and push them away from the popular altcoin.

The recent thread of tweets started when Charlie Lee, the founder of Litecoin, explained to the concerned investors that there are two main sources of the FUD that is surrounding LTC right now. He noted that the first source is that LTC has had no code commits on GitHub in 2019. This makes it clear that no work has been done on the cryptocurrency this year. The second source, according to the Litecoin founder, is that they don’t work on the master branch of the main project.

“Recently there’s been a lot of FUD about Litecoin having no code commits in 2019. When you look at Litecoin GitHub… it would seem like we did no work in 2019. There are actually 2 reasons why this is the case even though we have been developing,” he explained on Twitter.

The latest cryptocurrency news also featured Lee responding to the FUD by explaining that the Litecoin code releases lag behind Bitcoin releases by a few months. He further noted that they generally don’t work on the master branch of the main project which has been one factor which critics have previously pointed to in an effort to make some unfounded claims that Litecoin stopped developing.

According to the other tweets by the Litecoin founder:

“This is how Litecoin Core development has functioned for years. We even had the same FUD last year! Someone looked at our master branch last year and claimed that Litecoin stopped developing in 2018. And I bet even after this explanation, we will have people confused in 2020.”

Right now, we can see that there is a lot of FUD surrounding Litecoin. Investors are probably looking for reasons to ditch their LTC too – but just like they were described on many best cryptocurrency news sites – the Litecoin founder and the community are nothing but a ghost town right now.

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Litecoin News

Litecoin Founder Denies Bankruptcy FUD During LTC Eight B-Day

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litecoin founder
Litecoin founder has denied the FUD about the bankruptcy of the altcoin just when LTC turned eight years old. The cryptocurrency was launched in October 2011 and has stood the test of time as we are constantly reading about in the Litecoin news.Lately, there has been a lot of FUD over the crypto asset and most of it is quite unnecessary. The market clearly is not big enough to support even a fraction of the 3,000 coins and tokens that are listed on the online platforms. One of the best ways to find out which ones have the mettle is to look at those who have passed the test of time. The historical data from CoinMarketCap does not even go that back in time when LTC spawned and you can only see the data from 2013. Back then, just seven cryptocurrencies were listed and today only two of them exist in the top 300 including Litecoin and Bitcoin.The Litecoin founder, Charlie Lee celebrated the achievements that this cryptocurrency made with a birthday tweet for the world’s sixth-largest crypto asset. The network of the asset has been up and running continuously over the past eight years with zero downtime and during that time more than 500,000,000,000 worth of LTC has been transacted. Most of the mudslinging about this crypto asset followed after a tweet when many investors remembered how Lee sold out at the peak when Litecoin topped $350 almost two years ago.There were also some rumors about bankruptcy following the media FUD storm that targeted the project as we outlined in the crypto news and the Litecoin founder denies the rumors by saying:
‘’It’s not near bankruptcy. Don’t listen to stupid fud and lies. We have enough money to last 2 years.’’
Litecoin failed to hold on to its gains this year but almost every other altcoin had the same problem so FUD is not something to worry about. since the start of the year, LTC gained 88 percent to its current levels despite the massive 60 percent correction from the high of $145. The charts show that most of the altcoins are still moving and are syncing and despite the fact that LTC reached a death cross in August, the downtrend intensified and will hardly recover until bitcoin starts heading north again. LTC has been consolidating around the $55 level over the past 14 days but is still in a steep downtrend since the end of June.
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Litecoin News

Litecoin Price Surge May Initiate A Bull Run For Altcoins

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litecoin price surge
The Litecoin news today show that LTC is dealing with the bears. The day is expected to close with the positive price change for the cryptocurrency. According to analysts, a Litecoin price surge soon could be the breaking point of a new bull run.After recording a remarkable movement in the first two quarters, Litecoin (LTC) created a heavy market pressure in the last quarter, where we saw the price of this cryptocurrency falling tremendously. The traders supporting LTC are still hopeful for the uptrend in the coin, the latest crypto news show.Yesterday, Litecoin was trading at $58.24 high and $56 low. The volume was around $2.44 billion. Today, we can see that LTC held onto its lower side and is at $56.30 with a 0.64% decline on the day. In order for us to see a Litecoin price surge soon, LTC must recover and initiate a bull run by going over $60.What's good is the fact that Litecoin has a strong reputation on the market and its price movement has always been impressive for the traders. The coin is counted among the result-yielding currencies because of the same thing. Also, traders anticipate Litecoin giving Bitcoin a tough competition in the future.According to the price counters, the resistance and support levels for LTC are as following:
ResistancePriceSupportPrice
R1$57.69S1$55.45
R2$59.09S2$54.61
R3$59.93S3$53.21
In other words, a Litecoin price surge is expected to give out a huge dividend to the long-term traders - something they have been expecting for a while now. The potential investors can also dig in with a high prospect of return.Considering the fact that the Litecoin news did not show a lot of exciting uptrends over the past month, an upcoming surge might change all of that. As it stands, the market is not in a good position to trigger a bullish run for all cryptocurrencies - especially not Bitcoin - but altcoins may rally and do the unexpected.In a scenario like that, traders expect altcoins to replace Bitcoin and initiate a Litecoin price surge and bullish run which will come with increased volume and a market cap that is far greater than today's one which stands at $224.8 billion.
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Litecoin News

Crypto Rating Council Rates Litecoin With 1: LTC Not A Security

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Crypto Rating Council
The Crypto Rating Council which was formed just a while ago released the first batch of the 20 digital asset ratings. According to the latest crypto news we can see that the council declared Litecoin is not a security and we are about to read further in the text below.The Crypto Rating Council consists of 8 large companies including Kraken, Bittrex, Coinbase, Greyscale, Circle, Genesis, Cumberland and Anchorage. The group was founded due to their shared idea and commitment to improving the growth and maturation of crypto markets and the related financial infrastructure and trading services:
‘’We formed the Crypto Rating Council to create a framework to consistently and objectively assess whether any given crypto asset has characteristics that make it more or less likely to be classified as a security under the U.S. federal securities laws.’’
The assets were ranked from 1-5 with 1 being defined as an asset that has few or no characteristics of a security and 5 as an asset which has many characteristics strongly consistent as securities. The CRC was clear that its verdict is not definitive in nature and has not received the endorsement from the Securities and Exchange Commission or any other government body. According to their website, we can read that:
‘’The CRC’s analytical framework is based on relevant law and statements from SEC Staff relating to digital assets, including the SEC’s Framework for Investment Contract of Digital Assets. Neither the scores nor our framework constitutes an exhaustive treatment of the legal and regulatory issues relevant to conducting an analysis of whether a product is a security.’’
The CRC found that Litecoin, Bitcoin and Monero are not securities and achieved a score of 1. This is something that many of the users have already suspected. The council’s notes attached to these assets explained the absence of any token sale as well as decentralized development and usage. The Securities usually represent the ownership position in a company or corporation which is something that comes with a whole host of further regulations that should protect the investors as we found out in the Litecoin news. If the SEC agrees with the CRC, a lot of other projects will see a risk having committed securities fraud.
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Bitcoin Cash News

Struggle Continues With BCH, LTC and XLM Showing Weak Signals

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struggle continues
The market struggle continues today, initiated by Bitcoin's constant up-and-down moments which make the total crypto market cap face a strong resistance near the $218 billion and $220 billion levels.As we can see in the altcoin news today, the Litecoin (LTC) price is still trading well below the main $60 resistance area, while the Bitcoin Cash (BCH) price is correcting gains and could test the $220 support line.Stellar (XLM) is above the $0.06 support area, and the EOS coin news indicate that the cryptocurrency recently failed to surpass the $3.250 resistance and is right now declining towards $3.050.In our Bitcoin Cash news, it is noticeable that the BCH price faces resistance as we speak and is somewhere near the $235 and $240 levels in that manner.The BCH/USD pair is correcting lower towards the $225 level now and it seems like the price could also test the $220 support area in the near term. The struggle continues as the main supports on the downside are near the $205 level. On the upside, it is evident that a clear break above $240 is needed for more gains towards the $250 and $265 levels.On the other hand, the Litecoin news now show that LTC recovered above the $55 level and struggled to gain momentum above $58.50, remaining well below the key $60 resistance area. The price is currently correcting lower and may soon test the $55 support area.EOS is part of the weak coins as the struggle continues. After it climbed higher recently and tested the $3.25 resistance area, the sellers appeared and brought the coin back to the $3.20 level. If there are more downsides soon, the price could test the $3.05 support area in the near term.Stellar (XLM) meanwhile climbed higher positively above the $0.0620 level. The Stellar Lumens news are actually the only bright side right now and it seems like the price could test higher levels soon.When looking at the total cryptocurrency market cap in the daily and weekly charts, we can see that the struggle continues. The total crypto market cap is facing strong resistance near the $218 and $220 billion levels - and the 100 SMA is also acting as crucial resistance point. A clear break above the $220 billion resistance and close above the 100 SMA is right now needed for an upside acceleration in the short term.
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