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Cryptocurrencies Price Prediction: Bitcoin, Chainlink & Litecoin – American Wrap 22 December

Cryptocurrencies Price Prediction: Bitcoin, Chainlink & Litecoin – American Wrap 22 December
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Bitcoin is quantum computing resistant regardless of rising fears among investors

All cryptocurrencies are based on cryptography and require miners to solve extremely complex mathematical problems in order to secure the network. The idea behind quantum computing is that it will be able to crack Bitcoin’s algorithm much faster than the network.

The basic principle is that Bitcoin’s network has to be sufficiently fast in order for a quantum attacker to not have enough time to derive the private key of a specific public key before the network. 

Chainlink price once again defends critical support level eying up a rebound to $18

Chainlink has been trading inside a long-term ascending parallel channel on the daily chart. Bulls have defended the lower trendline support several times in a row and now aim for a massive rebound. 

Litecoin price poised for a correction after massive uptrend to $120

Litecoin price is up by almost 60% in the past week hitting a new 2020-high at $124. The digital asset has experienced a healthy correction down to $98 but might need to drop even further as several indicators have turned bearish.

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FXStreet Team

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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XRP holds bearish bias despite spot ETF inflows

XRP holds bearish bias despite spot ETF inflows

Ripple (XRP) retains a bearish near-term tone on Friday, falling toward the psychological support at $1.00. This follows renewed inflation concerns in the United States (US) after the Federal Reserve (Fed) left interest rates unchanged, as two members of the committee dissented in favor of a 25 basis point hike.
Crypto Today: Bitcoin, Ethereum, XRP edge lower despite renewed ETF inflows

Crypto Today: Bitcoin, Ethereum, XRP edge lower despite renewed ETF inflows

The cryptocurrency market broadly corrects on Friday, as investors assess macro uncertainty and geopolitical tensions, which continue to escalate in the Middle East. Bitcoin (BTC) is trading below $64,000, down from the weekly high of $65,745. Altcoins such as Ethereum (ETH) and Ripple (XRP) are trading under increasing selling pressure below $1,900 and $1.10, respectively.
US sanctions Iran-linked Bitcoin insurance scheme for Strait of Hormuz ships

US sanctions Iran-linked Bitcoin insurance scheme for Strait of Hormuz ships

The U.S. Treasury has sanctioned two Iranian firms behind a maritime insurance operation that accepted Bitcoin, saying the scheme forced commercial vessels to buy coverage to pass through the Strait of Hormuz and funnelled the proceeds to the Islamic Revolutionary Guard Corps.
Bitcoin Weekly Forecast: Bulls hold the line

Bitcoin Weekly Forecast: Bulls hold the line

Bitcoin (BTC) edges slightly lower, trading at $64,300 at the time of writing on Friday but holding firmly above a key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) support BTC as they continued to attract institutional flows through Thursday, pointing to the fourth consecutive week of net inflows.
Bitcoin: Bulls hold the line

Bitcoin: Bulls hold the line

Bitcoin (BTC) edges slightly lower, trading at $64,300 at the time of writing on Friday but holding firmly above a key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) support BTC as they continued to attract institutional flows through Thursday, pointing to the fourth consecutive week of net inflows.