BIT Mining has launched a brand new and improved model of its Dogecoin and Litecoin mining machines. But Litecoin has had a tough journey this yr, whereas Bitcoin surges. Clearly, altcoins want all the assistance they will get as Bitcoin’s market dominance creeps ever larger.
Dubbed LD4, BIT Mining’s new mannequin purports to offer excessive hash charges and vitality effectivity and has undergone in depth testing to make sure its superiority over earlier variations. BIT Mining, which acquired mining {hardware} producer Bee Computing final yr, has now launched three fashions of LD-specific ASIC mining machines.
Dogecoin: A Credible Challenger?
Meanwhile, altcoins are having a rocky few weeks as Bitcoin’s dominance appears as if it could creep toward 50%. Bitcoin dominance is, merely, a measure of its total share of the crypto market. Since the start of the yr, it has elevated by round 15%.
Also, Litecoin’s worth has been extremely unstable in 2023. Rising from $65 to a year-high of $102 in two months earlier than declining and rising once more. As of press time, it sits at $88.28, with additional worth fluctuations anticipated given Bitcoin‘s recent dip. Litecoin’s nadir got here on March 11 when it dropped to as low as $67.46.
If the worth of LTC drops beneath $85, it may provoke bearish activity. However, a keep above $80 might be a great signal for patrons to take management. The RSI and AO indicators present that sellers nonetheless have somewhat bit extra energy than patrons.
One pseudonymous dealer, Crypto Tony, says he can be carefully watching altcoins within the third and fourth quarters of 2023. He shared a chart that reveals DOGE rallying to $0.17, a 117% improve from its present worth of $0.078, after a tumble to $0.0090 in October and then reaching $0.017 in 2024.
The dealer is anticipating an upswing earlier than the rally. DOGE has had a tough couple of weeks after dropping on April 20.
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