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

FXStreet Team FXStreet

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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Avalanche struggles near $12 as Grayscale files updated form for ETF

Avalanche trades close to $12 by press time on Wednesday, extending the nearly 2% drop from the previous day. Grayscale filed an updated form to convert its Avalanche-focused Trust into an ETF with the US Securities and Exchange Commission.

Bitcoin slips below $87,000 as ETF outflows intensify, whale participation declines

Bitcoin price continues to trade around $86,770 on Wednesday, after failing to break above the $90,000 resistance. US-listed spot ETFs record an outflow of $188.64 million on Tuesday, marking the fourth consecutive day of withdrawals.

Michael Selig assumes role as new CFTC Chair, what does this mean for crypto?

Michael Selig has been sworn in to serve as the 16th Chairman of the Commodity Futures Trading Commission. Selig was confirmed by the US Senate to head the commission last week, following his October nomination by the US President Donald Trump.

Crypto.com hires sports trader for event prediction market-making

Crypto.com plans to recruit a quant trader for the sports market-making team to buy and sell financial contracts related to these events. Opponents argue that internal trading desks put operators or their affiliates on the opposite side of customer trades.

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Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.

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