On Monday, Cryptocurrencies were hit due to the U.S dollar rally that picked up. Also, LTC enters into RPG mode.
BTC
Following the U.S dollar rally on Monday, bitcoin crashed with over $500. It brings to light that BTC is following the dollar movements closely and Monday saw the USD rally around 0.8% which tested key resistance levels.
Markets were rocked with the Dow Jones going down almost 800 points. This was determined by the prospects for further virus lockdowns, a potentially tough battle in the U.S. over the freed up Supreme Court Justice Seat, and a news report which saw banks caught up in about a trillion-dollar money laundering scandal. President Trump said he would announce a new Supreme Court nominee on Friday or Saturday, but Democrats insist the winner of the Nov. 3 election should decide the nominee after the Republican-led Senate used the same underlying principle to stop a nomination by Barack Obama in 2016 following the demise of an Associate Justice, Antonin Scalia. The thrust in the dollar today shows again how Bitcoin is now an asset that is influenced by politics and other assets.
Bitcoin now looks towards the familiar $10,000 support level as a line of defense for the 2020 rally that started after the panic-selling in markets in March.
LTC
LTC was dragged down by the negative sentiment in crypto markets but the platform has seen a new role-playing game (RPG) launched on the network. The Litecoin Foundation released the game LiteBringer game, officially with the Founder Charlie Lee saying it was the first game that utilizes the Litecoin blockchain majorly for all of its functions and interactions”.
CipSoft was the creator of the game and its founder said the game is fully decentralized. This means that all users have to run a Litecoin node to play. All original weapons, characters, and items in LiteBringer would be stored on the litecoin’s blockchain.
The LTC price took a serious touch on Monday with a deep of about 8%, which saw it trading above the $43.00 mark.
