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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Litecoin (LTC) Firm above $50, Blockchain Could Modernize Congress

Dalmas Ngetich
Dalmas Ngetich
1 year ago
2 mins read
technical analysis altcoins

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  • Litecoin price up 3.4 percent
  • The blockchain is a window and an opportunity
  • Participation level rise as Litecoin prices print higher

Kevin McCarthy believes that blockchain will help build trust in public institutions. Such remarks are bullish for blockchain and could help prices of digital assets as Litecoin recovers from current lows.

Litecoin Price Analysis

Fundamentals

Although we cannot refute the link between Litecoin and Bitcoin, we must agree that there are differences. The latter has a vibrant community. Since it is a public blockchain, changes are hard to make. Instead, laid down procedures must be followed before implementation.

Such is the case with recent findings that elements can use the network to launder cash by paying outrageous fees while sending miniscule amounts. It may be legal and perfectly played by the book. However, it is the increasing frequency of accidental fat fingers that may even be a source of investigation.

Overly, it is good that there is adoption. The resulting network effect not only draws attention to a superior network with better accountability and high-level transparency but also cements the mainstream argument that blockchain is practical and represents the future of finance.

Whenever a firm or an individual decides to shift to the blockchain, the benefits are many and across the board. It is these benefits that Kevin McCarthy, a Republican House of Representative, says modernization of the Congress is a “window and an opportunity.”

In his testimony, he sees it fit that the US government develop its blockchain as this will help towards building trust in public institutions.

“What I’m looking for is building greater confidence in the institution that we have – utilizing the 21st-century technology to make us more customer friendly but at the same time give us greater information that can hold us accountable in this process.”

Candlestick Arrangement

Litecoin

The magnifier effect of Bitcoin means Litecoin (LTC) bulls are back. In a breakout pattern, the path of least resistance is clear, and as long as prices are trading above $50, every correction is a loading opportunity. The first target remains as it is from previous LTC/USD trade plans and as both sets of traders participate, resulting demand could further drive prices higher affirming our stance.

Technical Indicators

Prices are stretched and likely overvalued. After days of consolidation, today’s bar points to underlying demand. In that case, any rally breaking above $60 should have high trading volumes exceeding 426k of Mar 7.

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Dalmas Ngetich
Dalmas Ngetich

Dalmas Ngetich

Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape.

Read more

His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto.
The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance.

His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry.

Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion.

Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers.

DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations.
Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language.

Dalmas is here to help make the tech easy to understand and digestible, even for beginners.
The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential.
This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting.

Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature.

When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills.
You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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