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Will Litecoin’s Halving Be Bearish for Its Price, but Bullish for Bitcoin?

  • Jack Thomas
    🤷 Opinions

    The run-up to the LTC halving is good for its price, but when it happens, is there a chance Bitcoin will be cashing in?

Will Litecoin’s Halving Be Bearish for Its Price, but Bullish for Bitcoin?
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Litecoin has, without a doubt, been one of the best performing coins of 2019. It began the year at $30-odd and has since tripled its price value in the first few months of this year. The coin has been to thank for the renewed positive sentiment in the cryptocurrency market.

A lot of the reason behind this is because the coin is coming up to a big milestone as it on the cusp of a difficulty mining halving, which is due to take place in August of this year. The halving will make the reward for mining Litecoin decrease and thus make the circulating amount more valuable and in demand.

However, even as Litecoin rises higher on the news of the having, there is talk that it could actually spell a bearish trend for LTC when it happens, and spark a bullish trend for BTC.

A reminder of scarcity

The reason that halvings have an effect on price is they remind people of scarcity, but well known crypto commentator Tone Vays sees things differently with Litecoin.

“In the case of Litecoin, the scarcity is not a major factor because Litecoin is unsecured inflation on top of Bitcoin.”

He went on to add that Litecoin also is in a more competitive market compared to the dominant Bitcoin. The Litecoin halving should remind the industry that the value in mining Litecoin is shrinking even more in the current market.

On the contrary, he believes that the Bitcoin halving will create opportunities for miners to find more valuable Bitcoins.

Litecoin is easily replaceable, so investing a lot of money in Litecoin mining infrastructure only to watch Litecoin disappear in the halving is a problem. Hence, halving is a major problem for Altcoins but, not necessarily for Bitcoin Vays added

Bitcoin halving approaching

Bitcoin is set to have its own halving moment in 2020, but before that, with Litecoin primed to have its time first, it will be interesting if the old adage of ‘buy the rumour, sell the news’ comes true.

The Litecoin price is rising now, but when the halving happens, it may well end the bullish run and take that momentum to something bigger than LTC, like the dominant BTC.

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About the author

Jack Thomas is a journalist from Australia who has had a long career writing about finance and technology. He has combined his enthusiasm for these two subjects and applied his writing to covering blockchain and cryptocurrencies in the past few years.

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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
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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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