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BTC again in the game of bull rally after crossing $23k?

  

As of analyzing the market, the prices of the assets are as follows:

  • BTC: $23,551.06
  • ETH: $1,689.07
  • XRP: $0.4126
  • LTC: $99.67

BTC: BTC price increased by 0.45% over 24 hours and 3.74% in the past seven days. The asset reached a low and high of $22,877.75 and $24,167.21, respectively.

On Thursday, Charlie Munger, the Vice Chairman of Berkshire Hathaway, opened up in a Wall Street Journal in which he praised Chinese President Xi Jinping quoting him as having a “wise” economic policy for banning cryptocurrencies altogether. He suggested the U.S. should also follow the same steps.

He said we should:

“Thank the Chinese communist leader for his splendid example of uncommon sense.”

Warren buffet’s right hand, Munger, also mentioned a quote described by Mark Twain about mine that “a mine is a hole in the ground with a liar on top” and blamed the “wretched excess” of crypto promoters on “a gap in regulation.” He added:

“A cryptocurrency is not a currency, not a commodity, and not a security. Instead, it’s a gambling contract with a nearly 100% edge for the house, entered into a country where gambling contracts are traditionally regulated only by states competing in laxity.”

ETH: ETH price increased by 6.08% over 24 hours and 4.16% in the past seven days. The asset reached a low and high of $1,566.86 and $1,689.07, respectively.

The Ethereum Layer-2 scaling solution, Optimism, has revealed the first major upgrade to the protocol, called Bedrock. Optimism is a fast, stable, and scalable L2 blockchain built by Ethereumdevelopers for Ethereumdevelopers. The launch will take place on 16th Mar 2023, enhancing network performance and speed, lowering transaction costs, and improving compatibility with the Ethereum Virtual Machine (EVM).

The Optimism Foundation on its Twitter handle:

“The Optimism Foundation has proposed the first protocol upgrade to the Optimism Collective: Bedrock. We see Bedrock as the culmination of years of R&D—and the next crucial step towards a modular, simplified, and performant multi-chain future.”

XRP: XRP price increased by 3.04% over 24 hours and 0.75% in the past seven days. The asset reached a low and high of $0.398 and 0.74%, respectively.

Ripple-backed entity Coil surprisingly announced that it will cease operations. The coil is a key entity in the XRP ecosystem in which Ripple has invested millions of dollars in its growth. Ripple’s former CTO Stefan Thomas was the CEO of Coil andused to provide one of three Unique Node Lists (UNLs) for the XRPL, alongside Ripple and the XRP Ledger Foundation.

The Ripple-Backed Web Monetization Platform Coil received one billion XRP from Ripple’s investment arm Xpring which was equivalent to approx $260 million. The investment was to create and promote use cases involving monetizing digital content on the XRP Ledger.

LTC: LTC price increased by 4.58% over 24 hours and 13.60% in the past seven days. The asset reached a low and high of $94.01 and 13.60%, respectively.

Recently at the end of the previous year, after forming a major swing low at $47.80 on 9th Nov 2022 market jumped to 110% and formed the most recent high at $102.55.

From $47.80, LTC went up and formed its first swing high at $83.38; at this time, there was also a golden cross formed with 50MA crossing the 200MA. The market went back again for a pullback and halted at $61.03. Price broke the previous high and formed a break and retest pattern allowing buyers to participate in the market. Currently, LTC is trading near a crucial resistance zone, with the RSI line being at 61.80.


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