Chain News Today TheBitTimes.com

Bitcoin continues to face strong resistance at $31,000 but supportive macroeconomic factors could tilt the advantage in favor of the bulls. Bitcoin (BTC) bulls are again having a go at the overhead resistance of $31,000. The bullish sentiment may get a boost from the United States inflation report, which showed signs of slowing down. Economists were expecting the year-on-year consumer price index to rise 3.1% but the June print came in at 3%. The month-on-month increase of 0.2% was also less than forecast. This suggests that the Federal Reserve’s rate hikes are having the desired effect. That may limit future rate hikes by the Fed. Supported by macroeconomic conditions, institutional investors seem to be turning positive on cryptocurrencies, especially Bitcoin. CoinShares report published on July 10 showed inflows of $136 million into digital investment products in the past week. That brings the total inflows of three consecutive weeks to $470 million, indicating a positive outlook. D...

The current price action of Litecoin has pushed it to print a 14% growth in the week to date period. As a leading a LTC oin with a vibrant and functional ecosystem, the positive sentiment boosting price growth at the moment stems from the anticipation of the coming Halving event. advertisement As a PoW protocol, Litecoin also undergoes halving every 4 years, taking similarities to that of Bitcoin. The next halving event according to a recent reminder shared to the community by Litecoin is set to take place in just about 74 days. The update is not alien to the Litecoin community as it is an expectation that has been building up for a while now. The whole euphoria of the Halving appears to be pricing in and is now giving investors the leverage to stay optimistic in the longer term price impact of the event.  Core Impact of Litecoin Halving With the cryptocurrency ecosystem still known to largely be in the bear market, every digital currency is i...