Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
The Daily Hodl
No Result
View All Result

eToro Market Update: Litecoin’s Falling Hashrate and Traditional Market Meandering

by Powered by eToro
September 11, 2019
in Explore
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎

OUR STORY                 DISCOVER CRYPTOCURRENCIES                  NEWS AND UPDATES

Hi Everyone,

Sometimes things seem so far away but in reality, they might be much closer than we think. We’ve been talking about the possibility of a Bitcoin ETF hitting Wall Street for almost three years now and the latest indication is that it might be right around the corner.

In an interview on CNBC earlier this week, the Chairman of the United States Securities and Exchange Commission (SEC), who seems to be the one man standing in the way of the BTC ETF, confirmed that we are getting closer and progress is being made but that he still has two main concerns.

1. “How do we know that we can custody and have hold of these cryptoassets? That’s a key question.”

2. “An even harder question, given that they trade on largely unregulated exchanges, is how can we be sure that those prices aren’t subject to significant manipulation?”

From what it seems, these are the last two roadblocks in the chairman’s mind for this to be approved. Now, if that’s true, we could be extremely close at this point. In fact, both of these concerns should be easily assuaged with just a little bit of knowledge and understanding.

1. Bitcoin was born to solve the custody question. In fact, verifying ownership is kind of what crypto does best.

2. The decentralized nature of price discovery in the crypto market is another one of its star qualities and makes it far more resilient to price manipulation.

If indeed these are the only two roadblocks to a bitcoin ETF, then we are probably much closer than you think.

@MatiGreenspan
eToro, Senior Market Analyst

Today’s Highlights

  • Somber Market
  • ECB Shakeup
  • Litecoin Hash Drop
ADVERTISEMENT

Please note: All data, figures & graphs are valid as of September 11th. All trading carries risk. Only risk capital you can afford to lose.

Traditional Markets

The mood on social media and in the United States is somber today as we commemorate the attacks on New York’s twin towers 18 years ago. In general, the markets have been pretty quiet lately save for a sudden inexplicable movement in the bond yields.

Yields have been moving lower for a year straight, but since the start of this month, it seems we’re getting some opposite movement.

As we still don’t know what’s causing this, for now most investors are taking a cautious approach. Misinterpretation could very well lead to the wrong action so until a dominant narrative emerges, it may be best to limit exposure on key assets.

ECB Tomorrow

Whatever’s funk the markets are in right now is very likely to be snapped tomorrow though as the European Central Bank delivers their interest rate announcement and subsequent press conference.

From what it seems, several analysts are expecting the ECB to cut their interest rates tomorrow as well as deliver some sort of stimulus, most likely one that will be good for banks. Most bankers are no doubt very frustrated by the low-interest-rate policy as it cuts directly into their profits so if Mario Draghi wants to save himself from a mutiny he might need to throw them a bone if rates are indeed cut.

Here we can see a group of several predominantly European banks, who’ve been suffering over the last two years. Check out that sharp turn upward in the last few days. Almost resembles the chart above…

Lite Hash Drop

It’s no secret that the original altcoin, Litecoin, is one of the top altcoins in my portfolio at the moment. In fact, this is quite possibly the most controversial holding I’ve got right now.

One thing that I was wrong about with Litecoin however, was the effect that halving might have on LTC’s hashrate. When asked by a journalist before the event, my statement was that the halving itself would have minimal impact on mining operations. Indeed, the day after the August 5th event saw a noticeable drop. By now, hashrates are about 40% from the peak. 

As well, the price seems to have been corrected even before the event took place. At this point, the price has fallen more than 50% since the highs in June.

Some are even reporting that confidence in the network has started to shake.

Still, if we’re thinking long term and past this specific event, I’m staying in. What draws me here is the level of usage and the community around this coin. The number of transactions on the blockchain remains extremely consistent at around 25,000 per day. This has not been affected by the halving whatsoever.

As well, the number of nodes is spread well across the globe. Right now there are more than 1,700 computers running LTC nodes, which is actually quite comparable to the ~10,000 bitcoin full nodes operating at the moment.

Source: COIN360

So, now that the hype of the halving has died down and the inflation rate has successfully been cut, we’ll get a chance to see how the economics of the network will proceed.

Have a wonderful day!

Best regards,

Mati Greenspan
Senior Market Analyst


Connect with me on
eToro
Twitter
LinkedIn
Telegram

Your Social Investment Network – www.eToro.com

eToro (UK) Ltd is authorized and regulated by the Financial Conduct Authority. eToro (Europe) Ltd is authorized and regulated by the Cyprus Securities and Exchange Commission. eToro AUS Capital Pty Ltd. is regulated by the Australian Securities and Investments Commission, ABN 66 612 791 803, AFSL 491139.

This is a marketing communication and should not be taken as investment advice, personal recommendation, or an offer of, or solicitation to buy or sell, any financial instruments. This material has been prepared without having regard to any particular investment objectives or financial situation, and has not been prepared in accordance with the legal and regulatory requirements to promote independent research. Any references to past performance of a financial instrument, index or a packaged investment product are not, and should not be taken as, a reliable indicator of future results. eToro makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared utilizing publicly-available information.

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework. Your capital is at risk.

This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility.




Follow Us on Twitter Facebook Telegram

Check out the Latest Industry Announcements
 

Submit a Press Release

Crypto Livewire – Press Releases

  • Student Coin Found New Ways to Use Crypto
    February 24, 2021
  • Everest Receives Crypto Custodian Approval
    February 23, 2021
  • Here’s How Traders Are Staking Crypto Assets Without the Hassle
    February 18, 2021
  • 99Bitcoins Takes Over the Dead Coins Project to Become the Cryptocurrency Undertaker
    February 17, 2021
  • Coinsbee Makes Spending Bitcoin Easy
    February 17, 2021
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$51,052.00
$51,052.00
2.48%
Ethereum
$1,634.70
$1,634.70
1.9%
Binance Coin
$257.93
$257.93
0.79%
Polkadot
$34.60
$34.60
0.13%
Cardano
$1.16
$1.16
10.74%
XRP
$0.475218
$0.475218
0.22%
ADVERTISEMENT

Spotlight

  • Barstool’s Dave Portnoy Says He Refuses To ‘Scramble Like a Rat’ and Buy Bitcoin
    February 20, 2021
  • Here’s How To Avoid Getting Burned in the Altcoin Market, According to Coin Bureau
    February 24, 2021
  • Top Crypto Lawyer Says There’s a Core Problem With XRP As Ripple’s Day in Court Approaches
    February 18, 2021
  • Can Binance Coin Flip Ethereum? Analyst Nicholas Merten Examines Epic Rise of Crypto Asset BNB
    February 22, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2021 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro

© 2020 The Daily Hodl

×
We use cookies to give you the best online experience possible. Continue browsing if you are happy with that, or see how to manage cookies.