Reasons for the rise of the Leyte currency
the price of bitcoin is determined by supply and demand. The price of bitcoin is still very unstable, which means that the demand must follow this inflation level in order to keep the price stable. The big price change is e to its great volatility
After a month long correction, the price of Leyte currency has directly dropped by about 50%. Fortunately, the currency has finally stopped the downward trend. Nevertheless, it is still hard to say whether this currency and other competitive currencies will start to rise or continue to decline in the next few weeks, and whether it is possible to break the rock bottom price
on the 1-hour table of Leyte to bitcoin, we can see more clearly that the recent breakthrough occurred near 0.083cong, and then brought a rapid rise of 15%. On the Maxx momentum indicator, the green bar chart clearly shows that the buying momentum has turned upward. The 50 day moving average is now touching the 0.088 Cong control point, which may bring the price back to this range in the short term
in the past 48 hours, the competitive currencies in the whole market showed some urgent rising momentum after continuously breaking the low point
the bank has analyzed for a long time, and it is very important to monitor the correlation between the price trend of lightcoin and bitcoin. The relationship is particularly useful when trying to measure market traffic and whether a competitor is really worth trading. Generally speaking, when bitcoin moves rapidly in any direction, whether upward or downward, it is difficult for competitive currencies to stabilize, because their volatility is far less than that of bitcoin. Therefore, when bitcoin consolidates and develops horizontally, it is the best way for competitive currencies to move higher
this article is for reference only
to learn more about blockchain and currency market information, you can pay attention to microblog @ blockchain coin sea, or go to the website: coin sea departure https://www.bihai123.com.cn/news
At 10:00 a.m. on July 3, the opening price of Leyte was 283 yuan / piece, and the highest price was 324 yuan / piece at 13:00 a.m. on July 3, with a 3-hour rise of 14%
bitcoin is a big experiment of socialization, which has gained wide attention in China since October 2013, especially a large number of reports from domestic media. CCTV media has also reported bitcoin positively for many times, which leads to people's wrong tone towards bitcoin. In addition, the US held an optimistic attitude towards bitcoin in the November hearing, The price of bitcoin was less than 1000 yuan, and it soared to 8000 yuan in less than two months. With the rise of the price of bitcoin, some counterfeit bitcoins are also rising, and lightcoin is one of the representatives.
there are multiple reasons why the price of lightcoin did not follow the rise of bitcoin, but one of the important reasons is that a large number of ASIC lightcoin mining machines have been put into the market. This currency, which used to be said not to be suitable for ASIC miner mining, has been broken down, and people's trust in lightcoin has decreased
Avalon project team, a famous supplier of bitcoin miner, has also joined in the research and development of lightcoin chip. It is expected that the competition in lightcoin miner instry will be more intense, which is similar to the arms race of bitcoin miner last year
however, the development trend of lightcoin should be similar to that of bitcoin.