Lightning Network could come for Bitcoin tomorrow – August 21

Bitcoin price is struggling to go past $4200 against the US Dollar. The BTC/USD pair must find support at $4000 to avoid any further decline. Bitcoin is showing short-term bearish sign. On the downside, the next major support sits at $3800. Below $3800, there can be a change in trend for BTC towards $3500.

At the time of writing Bitcoin price is trading sideways at $4058 for the past 72 hours. Although, SegWit implementation is just one day away. SegWit coupled with lightning network will allow more transaction on the Bitcoin network without increasing the block size.

Tomorrow we could potentially see a considerable jump in Bitcoin prices if everything goes smoothly. Furthermore, Bitcoin Cash price has gone down more than 20% in the past 24 hours — trading at $614 at the time of writing.

Top Stories from the Crypto World

1. Lightning network to come tomorrow

If rumours are to be believed Lightning network is coming as early as tomorrow to the Bitcoin network. It will offer considerably faster and cheaper transactions for more users. The technology powering Lightning is still in beta testing, with Blockstream having first tested it with Litecoin transactions back in May.

Why it matters: The rally in Bitcoin Cash price and mining BCH getting more profitable than BTC could be the reason why lightning network is coming earlier than planned. Bitcoin Core doesn’t want to lose hashing power to rival BCH.

2. BitMain expands into AI

Bitmain, the largest Bitcoin miner in the world and major force behind Bitcoin Cash, is now expanding into AI. The company may now be the most influential company in the bitcoin economy by virtue of the sheer amount of processing power, or hash rate, that it controls.

Its mining pools, Antpool and, account for a whopping 28.9% of all the processing power on the global bitcoin network.

3. Monero price jumps over 80%

Monero, the privacy-oriented cryptocurrency created in 2014, shot up by over 80 percent this morning, reaching its all time high around $90 according to Coinmarketcap.

It’s difficult to say what’s the reason behind this sudden surge in price, but it is likely because of the news that South Korean exchange Bithumb is soon going to launch trading in monero.