Monthly Archives: February 2016

Litecoin and Peercoin May Be Undervalued Now

Written by and © 2016 Mark Mage. All rights reserved. This obviously includes unauthorized harvesting, iframing, or duplicating of content.  Please note that cryptocurrencybuzz.com are stealing our content.

After their rally of roughly two weeks ago, both LTC (Litecoin) and PPC (Peercoin) have retraced from their short-term highs of BTC 0.00849000 and BTC 0.00159000 respectively.

Both Litcoin and Peercoin are very popular and established Crypto coins with a large following of their own in the overall Bitcoin field.

LTC having tested lower levels around BTC 0.00770000 a few days ago appears to now regain some momentum and is moving back up towards the BTC 0.00800000 level again. If that level is cleared to the upside, there may be room for significantly higher Litecoin prices.

PPC, at the same time, is now sitting around 105000 satoshis or BTC 0.00105000 which appears to be an intermediate support level after PPC had met previous resistance around this level from the beginning of the year. If the 105000 satoshis support holds or can be cleared to the upside, Peercoin may resume a broader upward move.

For both coins, current levels represent strong support and hint at these coins possibly holding price gains throughout the next days and weeks of Crypto Exchange or CX Trading.

Bitcoin Price Testing $420 to $440 Resistance Area

The price of Bitcoin in US dollars is currently trading around a significant level. Bitcoin price history shows the rough $420 to $440 area to be a repeated level of support. Conversely, this level is now a rather strong line of resistance on Bitcoin’s renewed way up.

With a large flat-top triangle currently forming at this level, Bitcoin prices are preparing to rise more significantly. We may expect larger movements to the upside, once this level is cleared.

Bitcoin Has Not at All “Failed”

Wall-Street recently manufactured an ongoing series of mass media “news” about Bitcoin “having failed” or “being dead”. It wasn’t long, however, before the true nature as just statements of banksters who are obviously beginning to worry about Bitcoin came to light. The third part in this questionable chain of events, or rather non-events, finally admits that all this “failure talk” does not have any substance at all — just by revealing a name of its source for the very first time,

“News” like these do not come from true sources. They come from the banksters who are obviously now starting to worry, after they were stupid enough to ignore Bitcoin and decentralized peer-to-peer technology altogether for over six years in the first place.

They have, all of a sudden, “discovered” what this whole Bitcoin thing is all about. Hence their effort to smear it in order to still stop it. Claims that it had “failed” or that Bitcoin was “dead” have been surfacing. To not much avail though. J P Morgan CEO Jamie Dimon is the latest puppet “speaking out”, or rather fulfilling orders from his masters — albeit without having done any of his homework on the subject, very much like the rest of Wall Street, it seems. What has some J P Morgan CEO, of all people, got to say? Here comes: “Bitcoin is going nowhere” but “Blockchain” had “potential”. Unsurprisingly, because Wall Street banks are known to “study blockchain technology”, and it is also a well-known fact that the banksters deliberate about starting “a blockchain of their own”. Great idea — if you really do not know the difference between a public blockchain and a private one, that is.

Curiously, knowledge of a difference like that is taken for granted among Chinese officials. As Mr Dimon was showing his incompetence by not having properly researched his subject before shooting his mouth, Zhou Xiaochuan, the governor of the People’s Bank of China, eloquently came forward with a lengthy interview on Chinese currency policy. That piece also included some views on digital currencies. At least someone has done their homework, because he mentioned in well-versed terms the fundamental difference between public and private blockchains and continues with the trade-offs between the two.

That matters like these are discussed, is vivid proof of Bitcoin being anything but dead, nor a failure. On the contrary, talks about matters like these — along with ample chances for embarrassment for Mr Dimon and the likes — mean that Bitcoin already has had tremendous success, independent of the future that lies ahead for “Bitcoin the digital currency” itself.

Unsurprisingly, the ones most ignorant about the actual properties of decentralized peer-to-peer currencies like Bitcoin and their overall meaning are Wall Street and friends. As of late, they seem to be discovering some of them and are increasingly trying to hijack portions of overall Bitcoin technologies. What they fail to understand though is that even if they (or anyone else) ever succeeded with attacking Bitcoin, new and improved versions of Crypto coins would be started that very moment; just like Bitcoin itself, again based on a public blockchain — you know, that ingenious distributed consensus mechanism…

Less of a genius themselves, banksters are still having a hard time arriving at a centrally-controlled one that works.

Crypto Exchange (CX) Trading: Lackluster Start

There has been a lackluster start into this week of CX trading. Both bitcoins and Alt coins are seeing sideways action and relatively slow overall activity. Bitcoin itself is stagnant against the US dollar, sitting around $377 at the time of this writing.

The slow start is not much of a surprise after partly explosive action in selected Alt coins early last week and during the previous weekend. Markets appear to take a breather to digest some of this action and consolidate at less spectacular price levels.