The crypto market is doing just fine this morning, spil Bitcoin and all its peers are continuing their ascent to fresh heights. Bitcoin is testing the $9,000 resistance level, up 4% since yesterday. The top Ten coins by market cap are all on the rise compared to the other day, but the one coin you should keep your eyes on right now is Litecoin.
Unlike most other coins, which are trading 2% to 4% higher than yesterday, Litecoin is up by 21.52% spil of this writing. That puts its price at around $188 vanaf coin. So what&rsquo,s happening?
It&rsquo,s unclear why Litecoin is surging, but the imminent launch of the Litecoin Metselspecie fork may be one good guess. Litecoin Metselspecie, which may very well be a scam spil it&rsquo,s ter no way affiliated with the diferente Litecoin project, will award Litecoin holders Ten Litecoin Metselspecie coins for each diferente Litecoin token. You should be careful with your Litecoin possessions.
Te other news, crypto malware has bot found hiding te millions of Android devices, vanaf Malwarebytes. The malicious program would redirect Android devices to a webstek that would hijack their power to mine for Monero (XMR).
A similar exploit affects the desktop version of Telegram Messenger, NewsBTC reports, citing research from Kaspersky Laboratorium.
Spil you can see, slew of people are looking to mine Bitcoin and other coins, even if that means doing it illegally. The constitucional route is getting more and more expensive. JP Morgan said te a research note to customers seen by Business Insider that miners are &ldquo,presently te a hash rate arms rate,&rdquo, which means it&rsquo,s more expensive than everzwijn to mine Bitcoin. The canap says that it presently costs $Three,920 to mine a single Bitcoin, which presently trades for around $9,000.
Related movie: Utter Detailed Review Of kraken Crypto Currency
Not all coins, however, will retain their current value overheen time. So says the CEO of the third largest cryptocoin by market cap, Ripple (XRP). Speaking at the Goldman Sachs Technology and Internet Conference, Brad Garlinghouse said he believes that most cryptocurrencies will go down to $0.
&ldquo,It&rsquo,s not clear what the use case is. It&rsquo,s not clear the what value proposition is,&rdquo, he said. &ldquo,Long term value will be dictated by the utility of that asset.&rdquo, The CEO did say he has faith that Bitcoin will retain its value, but Bitcoin won&rsquo,t be used for payments. &ldquo,Bitcoin is going to solve a different problem,&rdquo, he said.
Ripple trades for around $1 right now, after hitting highs of $Trio.31 back te January. According to Garlinghouse, Bitcoin is 1,000 times slower and more expensive than XRP.
Not all people think Bitcoin will retain its value. Doomsday economist Nouriel Roubini says the price will go down to $0. He made thesis remarks at the World Economic Forum te Davos, Switzerland weeks ago, long before the early January Bitcoin bloodbath.
Apple isn&rsquo,t yet involved te the Bitcoin/blockchain business, but CEO Tim Cook made some interesting comments at Apple&rsquo,s annual shareholders&rsquo, meeting. According to MacRumors, he told the audience that he hopes &ldquo,to be alive to see the elimination of money.&rdquo, That&rsquo,s obviously a cork for Apple Pay and mobile payments. But there wasgoed a question on blockchain technology that the CEO avoided. Let&rsquo,s reminisce that for future reference.
With all that ter mind, if you&rsquo,re investing te Bitcoin and other coins, you&rsquo,re ultimately the foot person responsible for what happens to your fortune. That&rsquo,s what founder and CEO of kraken, a major crypto exchange, believes. He&rsquo,s absolutely right.
&ldquo,I think ultimately consumers need to look out for themselves, look into the fundamentals of any coin and not rely on any particular exchange to protect them from market volatility,&rdquo, Jesse Powell told CNBC. &ldquo,Wij make no promises about the future of any coin, things can switch when you raise $1 billion ter Ten minutes.&rdquo,