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📈 Price Predictions
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Regulatory Clarity. Litecoin and Other Digital Tokens Are Not Securities?

  • Thomas Hughes
    📈 Price Predictions

    Congressmen Warren Davidson and Darren Soto will introduce a bill next week that would exclude digital currencies from being considered securities: the “Token Taxonomy Ac

Regulatory Clarity. Litecoin and Other Digital Tokens Are Not Securities?
Cover image via u.today

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Congressmen Warren Davidson and Darren Soto will introduce a bill next week that would exclude digital currencies from being considered securities: the “Token Taxonomy Act”. The bill clarifies the fact that cryptocurrencies cannot be catalogued as securities once they become a fully functional network.

This would modify the Securities Exchange Act, adding a new definition for “digital tokens” and at the same time bringing much-needed clarity. However, there’s still a long way to go and the process will be tedious and marked by lots of changes to the bill. In the meantime, cryptocurrency prices are still rising.

Chart Analysis – LTC/USD

image

Similar to most other cryptocurrencies, Litecoin has slowed down its bullish pace, posting just a modest 0.55% gain for the last 24 hours at the time of writing. However, the gains for the last 7 days stand at more than 37%, so the fact that it’s moving sideways or even retracing shouldn’t be a problem.

The first support is located between 31.00 and 31.30, while resistance (and the next target) sits at 35.50. As long as support is holding, our view is bullish, aiming for a touch or break of 35.00 – 35.50. We may see retracements until that target is reached but if nothing important is broken, the upside should continue.

Support zone: 31.00 – 31.30 followed by the 50 EMA (red line)

Resistance zone: 35.00 – 35.50

Most likely scenario: move into resistance (possible retracements until target is reached)

Alternate scenario: break of 31.00, move into 50 EMA without break of the latter

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About the author

Thomas Hughes is an executive editor of U.Today. He is a skilled cryptocurrency trader and technical analyst deeply immersed into the cryptocurrency & blockchain technology area.

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📰 News
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Bitcoin in Danger as New Research Shows Google Has Achieved Breakthrough in Quantum Computing

  • Alex Dovbnya
    📰 News

    Google's quantum computer is still too primitive to pose a threat for Bitcoin's cryptography, but things could escalate quickly

Bitcoin in Danger as New Research Shows Google Has Achieved Breakthrough in Quantum Computing
Cover image via www.123rf.com
Contents

According to a new research paper published in science journal Nature, Google's quantum computer is able to perform calculations in just three minutes. To put this into perspective, it would take the fastest supercomputer about 10,000 years to perform the same operation, which signifies a major tech milestone for the search behemoth. 

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Google achieves "quantum supremacy"

Back in September, the Financial Times reported that Google has managed to achieve "quantum supremacy," which means that its beast is able to perform calculations that would be impossible to pull off with any other computer. 

However, technology is still way too fragile for commercialization, which is unlikely to happen anytime soon. There is hardly any practical application for quantum computers, but they do have great potential for disrupting a lot of industries, such as finance and transportation.   

Considering that the Trump administration has funneled a whopping $1.2 bln into the development of quantum computing, it might stop being just a buzz word. 

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Will Google's quantum success affect Bitcoin

There is also one notable application for quantum computing -- hacking Bitcoin. The headlines about Google's super-powerful juggernaut has made many wonder whether Bitcoin, whose value derives from the immutability of its Blockchain, is in danger. 

However, ex-Bitcoin Core developer Peter Todd reassured the confused crypto crowd that Google was nowhere near breaking the top coin's cryptography. On top of that, it's not even clear whether quantum computers could potentially be scalable enough for commercial use. 

Bitcoin evangelist Andreas Antonopoulos also opined that Google's quantum breakthrough would have no impact on the orange coin. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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