Mainstream media outlet CNBC seem to have gone crypto crazy as they began cheering the parabolic raise of Bitcoin and Litecoin which special attention given to the latter from a 416% rise from lows of December last year.
Litecoin’s price was around $22.93 back in December but has now surged back to $118.5 in May, making an outstanding increase in value of around 416% that even dwarfs Bitcoin’s.
However Franklyn Richards of Litecoin Foundation has warned investors not to get too excited as Litecoin risk entering bubble territory if price continues to decouple from underlying activity.
The reasons behind thins increase are many including improved on-chain metrics, inclusion of privacy features as well as several celebrity endorsements.
On the lighter side of things, there is a running joke that bullish sentiments on any crypto assets by CNBC has a negative correlation with its price movement prompting some crypto community members to jokingly advise investors to start shorting the said digital asset.
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Headlines for the world of Cryptocurrencies - May 28, 2019
- JPMorgan Chase Is Launching Privacy Mechanism For Ethereum Blockchain
- Bitgo and Facebook Messenger Co-founder Joins Blockchain Capital
- Ripple Supporter States xRapid Building Liquidity In Key Markets
- New Blockchain Enables Investors To Get Into Hollywood Action
- Vast Expansion Of Blockchain Industry
Headlines for the world of Cryptocurrencies - May 27, 2019
- Italy To Define Legal Framework For Blockchain Innovation
- Telegram’s TON Network Launching On Q3 2019
- Malta Awards 19 Students With Blockchain Scholarships
- U.S. Copyright Office Says It Does Not Recognize Craig Wright As Satoshi Nakamoto
- Brian Kelly Sees Supply Cut Will Bring Bitcoin Prices Higher
Headlines for the world of Cryptocurrencies - May 26, 2019
- Italians Love Bitcoin And Blockchain Together
- Luxury Watch Maker Releases Watch With Bitcoin Cold Wallet Feature
- Italians Using Blockchain For Baby Food Safety
- FINRA Approves Grayscale’s Ethereum Trust
- Son Of Chinese Billionaire Made Significant Investment On Blockchain-Based Gaming
