Tech Tic Technologies

One of the most anticipated events within the cryptocurrency field took place just a couple of hours ago. Litecoin experienced its block halving, which cut the reward that miners get for validating blocks in half – from 25 LTC per block to 12.5 LTC per block. In response, LTC enjoyed a significant price increase of around 12% against the dollar. It also increased against Bitcoin with an approximate 8 percent rise immediately after the halving. Litecoin Halving: What Are the Early Consequences? Today, August 5th, Litecoin underwent its halving event. The most substantial consequence of this is that miners will now be receiving 12.5 LTC for adding a new block to the network, rather than the previous 25 LTC. With that transition, the protocol is going to be adding a substantially reduced amount of LTC to the market going forward. This is perhaps why it sounds much like an interest rate hike, as well as other measures which are typically initiated by central banks around t...

Bitcoin’s price has marked a spectacular increase of around 10 percent over the past couple of days in a move that was nothing if not sudden. Comparing Bitcoin’s situation now to that of 2016, analysts and industry experts think that the instability of China’s yuan relative to the dollar could soon shift the country’s position with regard to crypto. China’s Bitcoin Fever in 2016-2017 Many are comparing Bitcoin’s parabolic price movement of 2019 to that of 2016 and 2017, when the cryptocurrency reached its all-time high price of around $20,000. Now that Bitcoin is up more than 270 percent since the beginning of 2019, it seems only reasonable to make the comparison. However, many industry experts and analysts, including Alex Saunders, CEO and Founder of Blockchain Education, tweeted that one of the key differences between then and now was China’s position. Notably, back before China issued a blanket ban on all crypto trading and exchange operations, the country wa...

For most of yesterday, Bitcoin’s price was hovering around $10,800-$11,000 and was trying to overcome the long-term ascending trend line, shown on our daily chart (marked in orange). As the Asian markets woke up, it finally happened: The trend line, along with the significant $11,000 resistance area, got left behind. By breaking over $11,000, Bitcoin finally put an end to the lower-highs formation of the past 20+ days (see daily chart). Could Bitcoin face new 2019 highs? Max Keiser said Bitcoin would reach $15,000 this week, but could it be so? In the meantime, when you think there is no further room for altcoins to fall in light of Bitcoin’s surging dominance rate, they tumble even more. Ethereum’s price is at its lowest level against Bitcoin since March 2017. Other altcoins are bleeding against Bitcoin, in what seems like an endless tunnel. No one can predict when, if ever, another altcoin season will take place. Until it does, risk management is the name of the game....

Following the colossal price rally, Bitcoin continued in its explosion above the 5-digit mark. Following a day of consolidation at the significant $10,500-$10,600 resistance level (along with the daily MA-50), the coin’s price broke impressively into the next resistance zone of $10,800-$11,000. However, after recording a new 14-day high at $10,919 on Bitstamp, Bitcoin encountered the long-term ascending trend line. That line had supported Bitcoin since the beginning of May, and Bitcoin only recently broke below it. Yesterday was the first attempt to get back above the line, testing it as resistance. The strength of the descending trend line was proven by the fact that Bitcoin touched the line, got rejected, and quickly lost around $350 of its value, returning to test the $10,500-$10,600 area as support. The RSI momentum indicator (shown on the 1-day chart below) finally broke above 50, entered bullish territory, and turned around precisely upon reaching our marked resista...

US President Donald Trump has said that he will impose a 10 percent tariff on $300 billion worth of Chinese goods. Hence, the trade tensions between Washington and Beijing continue to build. This had an immediate effect on traditional markets, most of which tumbled in response, as investors are seemingly turning to Bitcoin and gold as hedges. Trump Does it Again In a series of tweets, the US President, Donald J. Trump, announced that he would place yet another 10% tariff on the remaining $300 billion worth of goods which China exports to the US. He said that US representatives had just returned from China where they had “constructive talks” in regards to a future trade deal between the two largest economies in the world. However, according to Trump, China failed to live up to its earlier promises by not buying agricultural products from the US in sufficient quantities. Moreover, the country continues to sell fentanyl to the US, because of which “many Americans continue t...

Although XRP is still holding very strong at the support at $0.30, the situation is starting to look very bleak relative to Bitcoin, as the cryptocurrency is on the way to creating fresh 2019 lows if it continues to fall. XRP has suffered a 22% price drop over the past 30 days and is currently trading at around $0.3149. XRP remains the third-largest cryptocurrency by market value, with a market cap of $13.58 billion. The technical indicators are aligned to push XRP lower, which we will explore below. Looking at the XRP/USD 1-day chart: Since our previous XRP/USD analysis, the price of XRP has fallen back toward $0.30 but has continued to hold at this level of support. The cryptocurrency has started to form a symmetrical triangle consolidation pattern in the short term with all indicators suggesting a break below it. However, as this is a short-term triangle, we should not give too much weight to this, as the price could potentially simply travel sideways through the apex...

Ethereum has seen a 2% price rise over the past 24 hours, and it’s currently trading at around $219. The cryptocurrency had managed to remain above a rising support trend line, with its price increasing by a full 11% over the previous 6 days. Ethereum remains the second-largest cryptocurrency by market value, with a market cap of $23.64 billion. The ETH price is still up by 37% over the past 3 months, making it the strongest performer among the top five projects beyond Bitcoin. Looking at the ETH/USD 1-day chart: Since our previous ETH/USD analysis, the support at $202 and the rising trend line have held very well, allowing ETH to rise to where it currently trades at the resistance provided by the 200-day EMA at $220.   From above: If the bulls can break above $220 and the subsequent resistance at $230, we can expect immediate resistance at $235 provided by the 100-day EMA. This will be followed by resistance at $240. Once ETH/USD has cleared this hurdle, higher r...