Bankrupt Celsius Will Convert Altcoins Into BTC, ETH Starting Tomorrow! Will LTC And BCH Prices Decline After Recent Surge

In a move that sent shockwaves through the alternative market, Celsius, the previously bankrupt cryptocurrency lending provider — granted approval by Judge Martin Glenn of the Southern District of New York — has declared it will be exchanging non-BTC and non-ETH cryptos into either Bitcoin (BTC) or Ethereum (ETH) beginning tomorrow, July 1, 2023. Being among the cryptos listed for exchange are $70.5M in CEL, $51.8M in MATIC, $26.2M in ADA, $17.3M in LINK, $14.4M in LTC, potentially increasing selling demands and putting Litecoin (LTC) and Bitcoin Cash (BCH) prices in flux, the latter finding a recent bullish rally ascending its spot rate as trading in South Korea soars.

As of present, Litecoin connects back again after briefly rising to $100; at the same time, seeing its RSI score adjust to around 73 in a point of definite strong buying potential if timely Fibonacci pressure increases. Despite straying away near par, Litecoin will likely lose most of its recent gains unless it preserves the extent from plunging back beneath $89. Additionally, Bitcoin Cash might permit massive bearishness if the price page dips beneath MA20, a prospect strengthened by the SEC’s alleged stemming from controversial securities.

Robert Wilson author
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