Bitcoin Flat as Market Pauses

June 21, 2020, by Maayan
Bitcoin is flat for the week as markets take a pause from recent volatility. LTC founder Charlie Lee discussed the coming coin upgrade.

BTC Flat In a Quiet Trading Week

Bitcoin saw a quiet week with 18 thousand contracts traded on the futures market, compared to 25k in the previous week. The coin was flat for the week under the $9,350 level as traders were still uncertain of the coin’s next path.

A pullback in stocks late Friday could signal more weakness early in the week and BTC and the crypto market may follow that path. There is still chatter about a second virus wave, with Apple choosing to shutter certain stores in advance. Another push for lockdowns would affect stocks more than crypto this time around and at some point soon, BTC will likely disconnect when the market prices in the reality of a wobbling financial system and continued money printing.

Litecoin Founder Maps Out LTC V2.0

Litecoin’s founder Charlie Lee gave LTC enthusiasts more information about the coming upgrade in a Youtube interview.

Lee noted that scalability and privacy were the focus points of the new version and he also said that it will be able to scale better than other “privacy coins”. Lee also said that Litecoin’s “boring” reputation is a plus because of the need for stable money. Lee said: “build fast and break things,” is not a good approach to money, “You want money to be stable and you want it to work. Litecoin has worked flawlessly over the past 9 years.”

The price of LTC was barely changed for the week with a move from $44.00 to $42.83 by Saturday.

Disclaimer: information contained herein is provided without considering your personal circumstances, therefore should not be construed as financial advice, investment recommendation or an offer of, or solicitation for, any transactions in cryptocurrencies.