Litecoin Price Trend Follows Bitcoin Aug 04, 2016 at 09:14 // Price Because of the hack of the Bitfinex exchange on August 2, all cryptocurrencies this week fell.Litecoin’s price fell to the lowest level of the month, but a day later it began recovering as did the other cryptocurrencies.Bitfinex problems brought down the price of Bitcoin first.This gave an impetus to the growth of Litecoin that can be seen on the seven-day chart below, but then LTC began to return to its original position.LTC/BTC  exchange rates for last 7 days: Currently, the Litecoin price is $3.75, which is the minimum price over the last 30 days.But the collapse on Bitfinex alone can’t cause the global long period of decline of cryptocurrency prices.This is a temporary technical factor.Panic, which lasted exactly one day, was over by August 3.But we can’t talk about the resumption of growth either.LTC/USD  exchange rates for last 7 days: As practice shows, any unexpected factors can cause sharp rises in prices and sharp declines in cryptocurrencies, including Litecoin, and these factors are almost impossible to predict.

In January, the performance of Mike Hearn brought down Bitcoin and altcoins.Now we face a problem with safety on Bitfinex.Gradually investor confidence returned and growth begins again.Note that the maximum price of Litecoin in the past two months was $5.67 and Litecoin is capable of reaching it again.LTC/USD  exchange rates for last 50 days: Today we expect LTC to attempt to reach $3.75 - $3.8, which is currently the area of ​​interest to traders.The resistance level is $3.8 and the level of support is $3.65.A break through the resistance level will open Litecoin’s price all the way to $3.9 and $4.0.This will be possible primarily due to the general rise of prices for all cryptocurrency.This analysis and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency.0 0 0 0 Send to Mail 0 0 0 0 Send to Mail Apr 20, 2017 at 21:21News Aug 12, 2016 at 15:54Price Mar 19, 2017 at 21:55News Jun 19, 2017 at 17:35News Jul 22, 2016 at 10:00Blockchain

Today the American regulator the SEC (Securities and Exchange Commission) rejected the Bitcoin ETF (Exchange-Traded Fund) proposed by the Winklevoss twins, the American entrepreneurs who sued the founder of Facebook Mark Zuckerberg for stealing their idea for a social network.An exchange-traded fund is a security that tracks bonds, commodities or other assets.An ETF is made available like a stock on an exchange.Such funds own the tracked assets, and offer investors ownership of the assets through shares.Investors therefore indirectly own the assets by means of owning shares in the fund.In apparent prior anticipation of an approval, the market price of Bitcoin fluctuated by over 15% in a matter of minutes on some exchanges, before relatively steadying in the immediate run-up to the announcement.Since the SEC published its decision the price has decreased by around 20% at the time of publication of this article.The approval of the Winklevoss Bitcoin Trust ETF (NASDAQ:COIN) was thought unlikely by some analysts due to a range of factors including for example potential problems that might be caused by the current scaling crisis in Bitcoin.

Others thought it likely that the SEC would approve the proposal as part of the ongoing evolution of regulation.Attorney and Adjunct Professor of Law Philip C Chronakis submitted a comment to the SEC including the following remark: “Approval of the proposed rule and the underlying COIN ETF, will put the SEC in the ideal position to oversee Bitcoin’s development as an investment asset – and provide fair, broad-based investment opportunities for not only the connected (or technologically savvy) few, but to all Americans who deserve the same chance to benefit from this technological breakthrough and financial opportunity…” Today the SEC made a negative decision for the ETF, apparently based on fears of market manipulation and on the fact that regulation in the space is still immature.bitcoin donation clubFrom the official SEC order: “The Commission is disapproving this proposed rule change because it does not find the proposal to be consistent with Section 6(b)(5) of the Exchange Act, which requires, among other things, that the rules of a national securities exchange be designed to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest.bitfinex bitcoin

The Commission believes that, in order to meet this standard, an exchange that lists and trades shares of commodity-trust exchange-traded products (“ETPs”) must, in addition to other applicable requirements, satisfy two requirements that are dispositive in this matter.First, the exchange must have surveillance-sharing agreements with significant markets for trading the underlying commodity or derivatives on that commodity.Bitcoin investors have taken the U.S.regulators decision last week to reject listing a bitcoin-backed exchange-traded fund (ETF) in their stride and are continuing to invest in the digital currency.gh/s per bitcoinOn Friday, the U.S.bitcoin helsinkiSecurities and Exchange Commission denied a request to list an ETF designed to track bitcoin, which was backed by investors Cameron and Tyler Winklevoss.asic bitcoin store

The decision caused bitcoin's price to plunge about 20 percent, from around $1,287 to $1,026.However, the price for the crypto currency has since recovered back to around $1,233.The regulator's primary concern was consumer protection, according to Charles Hayter, founder of digital currency comparison website CryptoCompare.He says bitcoin has already shaken off the decision."In some sense, the market is playing to bitcoin's strong libertarian tune saying we don't need regulation," he told CNBC via email.hacker currency bitcoin crashes"There are other jurisdictions that might look to take a leap of faith into the unknown and attempt to capture new business in the digital currency sphere with their own ETFS."bitcoin armory onlineFollowing the regulator's decision, investors remain optimistic not just about bitcoin, but across the market of crypto currencies.bitcoin mining on pi