Ethereum

Analysts Expect Ethereum to Follow Litecoin’s Lead and Skyrocket in Near Future, Here’s Why

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The aggregated crypto markets have been facing an influx of bullish momentum over the past several months that is showing few signs of slowing down anytime soon. This momentum is allowing altcoins, like Ethereum (ETH), to incur strengthening technical formations that will likely allow it to surge higher in the near-future.

Now, analysts expect Ethereum to mimic the incredibly bullish price movements that Litecoin has made over the past several weeks, which means that ETH may soon set fresh year-to-date highs.

Ethereum Climbs to Weekly Highs as Buying Pressure Grows

At the time of writing, Ethereum is trading up over 3% at its current price of $266, up from daily lows of $254.

Over a one week period, ETH has climbed significantly from lows of roughly $230, which were set late last week.

While zooming out and looking at Ethereum’s year-to-date price action, it becomes apparent that the cryptocurrency is currently in the throes of a bull market, as it has been able to climb to highs of nearly $290 from lows of under $100.

Although ETH is currently trading slightly below its year-to-date highs, the cryptocurrency may be incurring a significantly bullish technical formation that may allow it to surge higher and surpass its previously established 2019 highs.

Crypto Rand, a popular cryptocurrency analyst on Twitter, spoke about ETH in a recent tweet, explaining that it is currently in the process of forming a bull pennant.

“$ETH loading the next leg. Bull pennant on the making,” he concisely noted while referencing the below chart.

Will ETH Soon Mirror the Price Action Incurred by Litecoin? 

Over the past month, Litecoin has surged significantly, running from lows of $60 in late-March to highs of over $140 this past week.

Now, some analysts believe that Ethereum will be the next cryptocurrency that makes a notable price movement like this.

Credible Crypto, another popular crypto analyst on Twitter, spoke about this in a recent tweet, telling his over 40k followers that although Ethereum may soon mirror LTC’s bullish price action, it may first incur some selling pressure around $270.

“There is a good chance we reject at $270 and come down for last buy the dip op. HODL’ers need not worry about their holdings, traders may want to consider taking some off the table soon if they need to free up some ammo to buy this potential dip,” he noted in a recent tweet.

As the weekend continues on and Bitcoin continues climbing higher, it is likely that it will become increasingly apparent as to which cryptos will be the next ones to face massive buying pressure that sends them surging higher.

Featured image from Shutterstock.




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David Marcus, head of Facebook’s crypto wallet Calibra, stressed Facebook’s intent to be compliant with the United States Financial Crimes Enforcement Network (FinCEN) in distributing the Libra stablecoin. As a Cointelegraph correspondent reports on July 16, Marcus delivered his comments at the ongoing hearing on Facebook’s Libra with the Banking Committee of the U.S. Senate.

Addressing the issues of money laundering and terrorism financing, Senator Cortez Mastro asked Marcus how Facebook is going to ensure that the platform is not being used for such purposes. Marcus responded that “this is something that I care about deeply, personally.” Marcus added that the company will have an Anti-Money Laundering program, reiterating Facebook’s commitment to FinCEN.

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R3 to Support a Startup-Focused Stock Exchange in Brazil

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Blockchain consortium R3 has partnered with Brazilian fintech company Banco Maré to launch a stock exchange for investing in technology firms.

Banco Maré, a blockchain-powered digital bank focused on financial inclusion, intends to build a tokenized stock exchange offering investments in technology companies with “social impact,” Cointelegraph Brazil reports July 16.

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Rio de Janeiro-based Banco Maré has reportedly conducted its first informal consultations with the Brazilian Securities and Exchange Commission, and is reportedly planning to make an official request to the agency in August 2019.

Banco Maré CEO Alexander Albuquerque claimed that the new venture aims to democratize risky investment and bring the low-income public to the stock market.

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Is There a Future for Privacy Coins in the United States? » The Merkle Hash

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Cryptocurrencies which provides users with privacy and anonymity are often looked down upon by politicians and other officials. Especially in the US, privacy coins such as Monero and ZCash might face an uphill battle in the future. The most recent White House press conference only confirms these currencies are designed for criminals and no one else. 

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‘I like bitcoin,’ says House GOP leader McCarthy, hits Facebook Libra

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House Minority Leader Kevin McCarthy told CNBC on Tuesday that he likes the decentralized nature and the security of bitcoin.

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Waves CEO Sells His Stake in Blockchain Spin-Off Vostok

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Founder of token issuance platform Waves has fully sold his stake in the firm’s blockchain spin-off Vostok to focus on the Waves Platform.

Alexander Ivanov, CEO and founder of Waves, sold his stake in the Vostok, with global financial group GHP Group becoming the sole owner of the project, according to a press release on July 16.

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