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Cryptocurrency Market: Bitcoin, BCH, LTC, TRX, XLM Price Analysis

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Along with the price of bitcoin, other top cryptocurrencies also surged yesterday with ETH, LTC, XRP. BCH, TRON and XLM all trading in positive momentum.

Key Points:

  • The cryptocurrency market capitalization experienced a surge over the $180 Billion mark.
  • Bitcoin price experienced a bull run above the $6000 resistance level and even broke above the $6050 level.
  • Litecoin price followed BTC and surged to over $75 resistance level and moving towards $80.
  • Bitcoin Cash is also surging and might soon test the $300 resistance level.
  • TRON price broke above the major resistance around $0.0242.
  • Stellar price has not experienced a massive surge however, it is slowly gaining pace below the $0.1000 resistance level.

 

SUMMARY: Along with the price of bitcoin, other top cryptocurrencies also surged yesterday with Ethereum, Litecoin, Ripple. Bitcoin Cash, TRON and Stellar all trading in positive momentum. The total cryptocurrency market capitalization also surged and broke above the $180 billion range.

 

Litecoin Price Analysis

Litecoin price corrected downwards recently, however, it found decent support around $70 from where LTC started an upward recovery. The buyers pushed the price above $75 resistance level. Currently, Litecoin is trading well above the $75 level which has now turned into support. LTC might soon test the $80 resistance level in order to move towards $84 and $90 levels.

 

Bitcoin Cash Price Analysis:

Bitcoin Cash corrected towards and tested the $275 support level recently where buyers emerged and pushed the price upwards. After the price of bitcoin surged yesterday, Bitcoin Cash also experienced a similar surge and the price of BCH moved above the $285 and $290 resistance levels. The current resistance for BCH lies around $295 and $300 above which it might move towards $310 and $320 levels.

 

TRON Price Analysis:

TRON price recovered nicely against USD and moved above the $0.0240 resistance level. The buyers were able to push the price above the $0.0245 levels before the price started to correct downwards. Currently, the overall momentum seems positive as TRX is placed nicely above $0.0242 support level and might soon retest the $0.0245 resistance level.

 

Stellar Price Analysis:

Stellar is also gaining momentum and slowly moving towards the $0.1000 resistance level. Currently trading around $0.0950, the initial resistance lies around $0.0965 above which it might test the $0.1000 level soon.

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Alert: GotSatoshi Reveals the Real Identity of Satoshi Nakamoto?

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A new website called GotSatoshi now claims to know the real identity of the founder bitcoin Satoshi Nakamoto.Here is what they revelead.

The identity of Satoshi Nakamoto is one of the biggest secrets in the world, especially in the cryptocurrency industry. A lot of people have speculated the real identity of the bitcoin founder and some people such as Craig Wright has even self-proclaimed themselves to be Satoshi Nakamoto. A new website called GotSatoshi now claims to know the real identity of the founder bitcoin Satoshi Nakamoto.

 

Where in the world is Satoshi: The Countdown ends

The website ran a countdown and also posted on their official twitter account claiming to know the real identity of the founder of bitcoin.

 

The countdown which ended just a few minutes back (from the time of publication) revealed a video which is actually marketing a news website called PaiNews. It seems that it was just another joke or a method of fooling and attracting traffic to the website.

 

What are your thoughts on such lame jokes or methods of attracting traffic? Tell us in the comments section below.

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Kevin O’Leary from Shark Tank calls Bitcoin: Garbage and a Useless Currency

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During an interview with the CNBC, Kevin O'Leary from Shark Tank said that according to him Bitcoin is garbage and a useless currency.

During an interview with the CNBC, Kevin O’Leary from Shark Tank said that according to him Bitcoin is garbage and a useless currency.

 

Kevin O’Leary calls Bitcoin Worthless

Famous as the founder of Softkey, a startup that earns annual revenue of around $29 million and a host on the American business reality series Shark Tank, Kevin O’Leary is a celebrity amongst the business class in the United States of America.

 

During the interview published on 14th May 2019, Kevin expressed his thoughts over the king of cryptocurrencies bitcoin and called it a useless currency as the people who accept it just wants to hedge against the high volatility of the virtual currency. This comes in the midst of the current bitcoin surge as the virtual currency doubled its value in just a few days from below $4000 to more than $8000.

 

Kevin also explained why he has such negative views on bitcoin giving the instance of how once he tried using bitcoin for a real estate transaction in Switzerland. He said that it is not possible to get in and out of bitcoin while transacting in huge amounts.

 

He also gave an example stating that if one wants to buy real estate in Switzerland for $10 million. The seller wants a guarantee that the value comes back to him as currency at ten and the buyer has to hedge the risk of the cryptocurrency, hence it is not a real currency. Kevin said that the seller or the receiver would never want to take the risk of such high volatility and thus BTC is worthless.

 

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Amazon Owned Whole Foods, Other Big Retailers Start Accepting Bitcoin

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Whole Foods, which is owned and operated by the e-commerce giant Amazon and other big retailers are now going to accept payments in bitcoin.

Whole Foods, which is owned and operated by the e-commerce giant Amazon and other big retailers are now going to accept payments in bitcoin.

 

Whole Foods and Others accepting Bitcoin using Spedn:

A company called Flexa in collaboration with Gemini exchange which is owned by the Winklevoss Twins has managed to persuade a lot of big retailers including Nordstrom, Crate and Barrel & Whole Foods to configure the same scanners that they are already using for payments from other digital wallets like Apple Pay to work with their cryptocurrency payments app called Spedn.

 


Everything is handled on the backend of the application so that the cashier need not even have heard of bitcoin, let alone understand how to manage payment in cryptocurrency. The merchant has the choice in receiving immediately converted fiat or actually taking and holding the cryptocurrency.

 

The Spedn app lets consumers pay in bitcoin, bitcoin cash, ethereum and GUSD (Gemini Dollar), the Gemini backed stablecoin.

 

This new solution actually uses the existing systems and offers really only upsides for the companies as they don’t have to do any special training for their staff and there is no new hardware required and just a software upgrade.

 

It is worth noting that this is still in its early experimental stages for all the retailers which are cooperating with this scheme and things may of course change in the future. The thing to keep in mind here is that Bakkt is likely launching a massive payment processing service for cryptocurrency in the very near future as well and it could be a big competitor to what Gemini and Flexa are offering.

 

The company will also need to prove itself with consumers and get people to actually go out, download and use the Spedn app.

 

Can this be a game changer in retailer adoption of bitcoin and cryptocurrencies? Let us know about your thoughts in the comments section below.

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