The cryptomony market is booming. While the main one, the Bitcoin, appreciated by nearly 150% last month, the pace of novice outsider, Litecoin, seems to speed up. Although cryptomonas last week suffered a short period of turbulence, after China announced the banning of ICO (initial coin offerings), Litecoin and Bitcoin retain their potential for upgrading. In spite of this unfavorable news, the price of the bitcoin did not drop its symbolic price level to $ 4,000, as did the litecoin which did not flinch under the $ 60, symbols of the optimism of buyers. The development of this virtual market is one of the main witnesses of this euphoria favorable to cryptomonacies. The creation of the Bitcoin Cash (BBC) following a split in the price of the bitcoin, also did not affect the virtual currencies, litecoin in particular. Thus, the crypto-currencies resume their march forward, ignoring a fundamental analysis that is harmful.
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Litecoin and Bitcoin advance without fear of risk
In addition, the Bitcoin, created in 2009, is by far the largest market capitalization with nearly $ 30 billion, while litecoin, launched in 2011, ranks fourth in this ranking, with an estimated capitalization of 1 , $ 6 billion. However, the litecoin, which is under free license, works in a similar way to the bitcoin, since its code is a modification of the latter.
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Still on the fundamental plan, good news for the litecoin and the bitcoin has recently appeared. The Swiss municipality of Chiasso has indicated that taxes can be settled in bitcoin as of next year. As a reminder, the Swiss bank Falcon Private Bank announced in July that its customers were now able to invest in the bitcoin, a world first. These elements favor the normalization of cryptomonies, generating a development capacity for the bitcoin and the litecoin.
Technical Analysis of Bitcoin and Litecoin
Bitcoin - the course of the bitcoin has not broke its support at $ 4,010, despite its decline last week. This bounce on support gives the bitcoin a bullish potential in the short and medium term. Thus, a new record of the bitcoin at $ 5,000 seems to me possible in the coming weeks.
Bitcoin Course in Daily Data in Japanese Candles
Litecoin - although it is covered by a downward slant, the course of litecoin rebounded on a support located at $ 62. The crossing of the double resistance composed of this oblique and the threshold at $ 72.50 would confirm the upturn. Thus, a return of the litecoin under resistance to $ 81.70 and $ 90 seems to me likely in the medium term.
Course of the Litecoin in daily data in Japanese candles
