Ministers of South Korea and China discuss crypto strategies
Accodring to a a report from bitcoin.com, the PBOC (People's Bank of China) and South Korean Strategy and Finance minsitry officials have met and discussed various economic policies.
Img source: Yonhapnews
During the recent months, while Korea has been trying to curb the explosive cryptocurrency market and legitmizing the business, China has been outright taken a no-nonsense "stop all crypto" approach, going as far as banning all domestic crypto exchanges. Korea, on the other hand, has successfully implemented a requirement that all cryptoexchanges use a real-name account system and share data with local banks.
Now the result of this meeting can spin both ways, but one can hope the progressive approach from South Korea inspires China to take some steps in this direction also. As Kim Dong-yeon, The South Korean Minister of Strategy and Finance put it, closing exchanges might create more problems than they solve, and i whole-heartedly agree.
Via bitcoin.com
Read the article here on bitcoinist.com
What's Litecoin up to?
Well, while they have came out with a minor update to Litecoin, there's an initiative from the Litecoin Core dev team to help make Spotify to accept Litecoin.
Via Twitter
If you believe in Litecoin and want to support the case, please do so by retweeting this tweet.
But there's more about Litecoin. An article from Zerohedge, introduces us to some top-level, but still very interesting, speculation. Zerohedge connects the dots between Charlie Lee, the LTC founder, David Marcus (a Facebook executive), Coinbase, Facebooks ban of all crypto advertising and Charlie Lee's tweet about what 2018 is bringing to Litecoin. Whether the dots are connected correctly, only time will tell, but an interesting read nevertheless.
Via Twitter
Catch up on Zerohedges theory here
And now the huge news for Litecoin! Litecoin launches Litepay. Litepay is a payment system, where business owners can receive Litecoin for goods and services. And it reflects in the markets - while other markets are up about 5%, Litecoin rocks a 30% increase :)
I'm not going to do a write-up on this, as one of my mates here on Steemit, @forexbrokr, has done an excellent job on this. Please hit up his post and give him a follow.
Post by @forexbrokr here
Bitcoin
While people are screaming "bloody murder" on the streets and hodlers are selling their portfolios, the game always is the same. On the way up nothing was more annoying than the bulls trolling the bears and when the trolling spiked, one could almost time the pullbacks with this.
Just couple of days ago, when i couldn't find anything positive about cryptos on my Twitter feed and the hysterical and malicious joy over the crypto bubble popping was on every bears face, Bitcoin found it's (at least short-term) bottom right at the bottom of this triangle and a bullish wegde, staying firmly in an uptrend.
Just remember traders, who trades on predictions, will usually left with empty hands. We can predict, but feel free to change your opinion any time. I have only a tiny skin in the game, so i base my trade around the assumption that we bounce short term. Upside targets: 1) wedge top 2) Large triangle midline. There's a small W bottom on H4 chart, which promises at least a little bit of upside. Whether the other markets decide to go with the bounce, might be the deciding factor in this. Litecoin, Bitcoin's small brother, is already showing some strength, now let's see if there is any followthrough.
Thanks for reading, let me know your crypto majors trading ideas in the comments.
Im considering trading in all my doge for litecoin. Not sure if I should.
Thanks for sharing all of this @furious-one! I think that countries imposing regulations in general is actually a good thing, even if they are very harsh. Regulations signal mass adoption, which means short term they may be bad, but they work for the betterment of a stable market in the long run (mostly).
Regarding LTC, that is huge news for them! It's excellent to see them making waves at the moment.. I got in to it at around $45, and I'm holding out now.
Thanks again for sharing, I would love to talk to you more about a project I'm working to help Steemit and its new users grow hugely!
Thanks @furious-one for the detailed analysis on why LTC saved the day for all of the HODlers who believed in it. I am very bullish on LTC and BTC both in Long Term. Although it is very difficult to predict short term , I would still stick to LTC. Superfast transaction and aaceptance by various entities all over the world will make it the Coin of the future.
I trade cryptos with good backing and projects. If the team behind the project is great then there is a 99% chance that one day it will bully in the market even though they plunge during the RED market. Happy Trading to everyone out there. Cheers. ✌🥂
Thanks for the plug mate. Hope you and your followers get some value from the blog.
I’m a big believer in Litecoin being the coin that pushes into the mainstream payment space first. LitePay is the beginning!
Currently, I am not investor of Lite but I'm doing a research and I am enjoying the result =)
Excited about the prospects of LitePay? 😎
Yep... I hope this gonna succeed.
According to my calculations Bitcoin will be at negative $1000 pretty soon :-D!
Haha mate, while we all have seen that chart and it carries some historical truth to it, can't trade based on predictions, better to see, what the price action tells us.
Wow looks like interesting times ahead for litecoin! Thanks for sharing. I will have to make a conscious effort to improve my position here a little more.
I agree with what oyu say about not trading on predictions. I have generally decided on a few coins that I like the product genuinely. From there I have tried to buy and sell into good positions on the coins I trust. I don't know how everyone else does it, but this has worked so far for me other than the recent downturn. I wish I had saved more in fiat for more of the all-time low prices though.
30% up for litecoin. Wow talk about a nice boost.
Lot of rumours are undergoing about crypto currency, remember cryptocurrencies are fluctuating by the whales to take killing profits.
Investment in crypto currencies are highly risk as well as highly profitable, invest only before discussing with a investment expert professional.
Beautiful post.
Good post and helpful
Litecoin market cap is very low compared to some of the other newer coins. I think litecoin will catch up massively this year and become top 5 again Having said that I would invest some now and invest more once the market is stabilised
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