Associated Studying | This LTCUSD Fractal Says Time Is Running Out To Accumulate At Low Prices
A lift on the BTC buying and selling pair, will trigger the USD worth of Litecoin to finally catch up to the remainder of its crypto business brethren.
Is Litecoin able to "teleport" very similar to Dogecoin has? | Supply: LTCBTC on TradingView.com
The chart above reveals LTC buying and selling in opposition to Bitcoin, caught in a tightening buying and selling vary for the final 300 after which some days. As soon as this vary breaks – expectedly to the upside – Litecoin might “teleport” as the trader claims.
Layered behind the LTCBTC worth motion on the chart above, is the DOGEBTC pair. The 2 altcoins have virtually at all times adopted a really related path, with every peak and trough matching up shockingly properly.
The one discrepancy? The present market cycle, the place Litecoin has been left far behind for too lengthy now, and is ready for an explosive move.
This might all finish quickly, and if the transfer finally ends up much like what occurred with Dogecoin, “teleport” is an acceptable time period to outline simply how shortly the upside unfolds.
Associated Studying | Five Reasons Why Litecoin Is Ready To Shine Once Again
When Dogecoin most just lately broke out in opposition to Bitcoin, the DOGEBTC buying and selling pair saw a one-day climb of nearly 1000%. Such a robust transfer little question retraced considerably, nevertheless, the value of DOGE has remained excessive on the USD pair since.
A breakout in opposition to Bitcoin on the LTCBTC buying and selling pair is precisely what Litecoin wants to get the party started. However when precisely will that occur, after 300 days and counting.
Featured picture from Deposit Photographs, Charts from TradingView.com
Tesla Loses Nearly $280 Billion Since Investing in Bitcoin
Although one-year Tesla stock figures look good, 5-day, 1-month, and year-to-date movements are currently taking the heat, despite Bitcoin purchases.
Tesla Inc (NASDAQ: TSLA) Is experiencing a considerable market downturn as the company’s stock has not maintained achieved increases from Bitcoin investments. The Elon Musk-led electric car maker has recently been trading in red, somewhat depleting gains from heavy crypto investments. Specifically, the Tesla market cap has lost $277 billion in a little over a month.
Last year, Tesla saw heavy selloffs in March and December as well. The current plunge is the third time the automaker is entering a bear market over the past year. Tesla stock is currently at an after-hour price of $567.99 after rising only 0.89%. At $563, its last close was a 5.84% plunge, fueling a crash of almost 22% in the last 5 days. Over the last month, TSLA lost about 35%, with a year-to-date 20% crash. However, the company’s 12-month figures still look healthy. In the last one year, TSLA has surged nearly 363%.
Tesla’s drop may be tied to worries about the company’s heavy valuation, along with growing competition. Other automakers such as Nio and General Motors are looking to give Tesla a run for its money as they continue to produce electric-vehicle offerings. Tesla is also facing a global shortage of computer chips. Last month, the company temporarily closed its Fremont, California factory, due to what Musk described as a “parts shortage.”
Fremont shut down for two days (parts shortages) & restarted yesterday
— Elon Musk (@elonmusk) February 25, 2021
The plunge might not exactly be a TSLA problem. For instance, the shortage of chips is a problem other automakers continue to grapple with. Furthermore, the entire Nasdaq Composite has lost 9% in the last month. Nio Inc (NYSE: NIO) and Nikola Corp (NASDAQ: NKLA). Both lost 38% each, with Li Auto Inc. Losing 30%.
Tesla currently holds a considerable amount of Bitcoin. Early last month, Tesla made the news after revealing its $1.5 billion bitcoin investment. In a filing with the US Securities and Exchange Commission (SEC) filing, the automaker said the purchase was borne out of an updated investment policy. The filing further explains that the policy allows Tesla to pump some of its cash into alternative assets, such as cryptocurrencies, gold-exchange funds, and gold bullion. Along with the company’s plan to begin receiving Bitcoin payments, Tesla’s move is said to have sparked a crypto purchase culture among potential institutional players.
The Bitcoin purchase and the jump in Tesla stock seemed to ignite the general stock market. The Dow Jones Industrial Average (INDEXDJX: .DJI), S&P 500 (INDEXSP: .INX), and the Nasdaq Composite all rose. Consequently, Bitcoin billionaire Tim Draper thinks that other major companies could join Tesla in the Bitcoin market. Specifically, Draper believes both Netflix Inc (NASDAQ: NFLX) and Apple Inc (NASDAQ: AAPL) could be next.
On Apple, Draper believes the company has a little too much cash to not do something with it. Speaking at the 2021 Montgomery Summit, Draper said:
“Apple has so much cash. If they don’t buy something with that, their shareholders are going to naturally drift lower in the value of that asset over the next three or four years…”
Draper also believes Netflix could enter the market because the company’s co-CEO, Reed Hastings, is “innovative.” On a recent Unstoppable Podcast episode, he said:
“If I’m the CFO of one of those big organizations, I am saying ‘we have to own x% in bitcoin because it’s a hedge against another currency becoming the currency of the future, and it’s also a hedge against inflation.”
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$200 million stolen in 5 days via DeFi
Three main DeFi exploits have taken place inside the final week. This time round, we’re seeing DeFi initiatives on rising platforms just like the Binance Good Chain turn out to be the sufferer of hacks, exploits, and safety breaches.
These aren’t the first DeFi exploits of 2021, nonetheless, they’re unlikely to be the final.
On March 4th, Meerkat Finance, a DeFi mission launched on the Binance Good Chain, was the sufferer of an exploit that drained $31 million from the mission. The exploit occurred simply in the future after Meerkat Finance launched.
Many consider that the Meerkat Finance assault was a rug-pull/exit rip-off, an assault through which the creator of the mission or the mission’s staff members drain the funds to their very own wallets. Shortly after the assault occurred, the Meerkat Finance web site and Twitter account had been deleted.
On March fifth, Ethereum-based mission PAID Community was exploited for $160 million. The attacker was capable of exploit the PAID contract’s token minting characteristic to fraudulently mint roughly $60 million value of PAID tokens to their very own pockets. Subsequently, the attacker exchanged their newly minted tokens by way of Uniswap in return for about 2,000 ETH.
The newest DeFi assault that occurred was the Dodo Finance exploit. Dodo Finance is a decentralized trade that lives on each Ethereum and Binance Good Chain. On March eighth, the Dodo Finance attacker was capable of exploit a bug within the Dodo contract that allowed them to fraudulently mint new tokens, the attacker additionally used flash loans to benefit from their assault.
Afterward, the attacker used their illicitly minted tokens and funds from the flash mortgage to empty the Dodo Finance liquidity swimming pools to the tune of roughly $3.8 million.
Nevertheless, the Dodo Finance staff believes that $1.88 million in stolen funds shall be recovered.
New to Bitcoin? Try CoinGeek’s Bitcoin for Beginners part, the last word useful resource information to study extra about Bitcoin—as initially envisioned by Satoshi Nakamoto—and blockchain.
Twitter Purges Major Crypto Accounts, Suspending Them For No Reason
March 10, 2021
Twitter purges major crypto accounts from its platform by suspending them for no apparent reason so we try and find out what exactly happened in our latest cryptocurrency news today.
Twitter purges once again and what’s funny enough is that it is run by Jack Dorsey, one of the biggest supporters and influential proponents of Bitcoin but it seems now that some major crypto accounts were suspended for no apparent reason. Twitter suspended numerous accounts related to cryptocurrencies and some of the most popular ones include those of Plan B who is the creator of the Stock to Flow model, Willy Woo as one of the most influential BTC and crypto analyst as well as “The Moon” or Carl Runefelt who is a well-known crypto proponent and trader.
Just got a text from @woonomic, looks like his account got suspended along with @100trillionUSD … WTF @Twitter this is unacceptable, these guys are some of the BEST Financial Analysts in the World @TwitterSupport need to look into this ASAP!
— Tone Vays (#EndLockdowns) (@ToneVays) March 10, 2021
Others include the account of WSB Chairman and the account of influencer Koroush AK. There’s no information right now as to why these accounts are being suspended and as a precaution against this, other influences are starting to turn their accounts settings to private. Loma, the well-known crypto trader with more than 100,000 followers spoke on the matter and said that his account is now private because the Twitter bots and mass reporters are the ones responsible for suspending the accounts.
This isn’t the first time that a centralized content-sharing platform censored crypto-related accounts and content for no reason. Last year we saw YouTube doing the same thing as it suspended accounts and shadow-banned BTC-related videos. This comes as quite a shock because Jack Dorsey who is the CEO of Twitter is a well-known supporter of Bitcoin and one of its most influential proponents.
As reported recently, Ethereum’s creator wants to help Jack Dorsey in decentralizing Twitter while Charles Hoskinson says that he is also working on a social media project that could help decentralize Twitter. Cardano’s founder Charles Hoskinson tweeted to Jack Dorsey this week saying he is working on something regarding social media. He wants Twitter’s Blue Sky decentralization initiative to be open source. Twitter’s CEO Jack Dorsey who is an outspoken BTC fan and his belief in the promise of decentralized technology which is a huge reason why Twitter is preparing for the next move away from centralized services.
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