Litecoin {LTC} and Bitcoin Cash {BCH} adoption may be hampered as the lawmakers feed on fears of the citizens

Fibo Quantum

Bitcoin Cash is ranked at #5 according to the latest data obtained from coinmarketcap. The price of BCH fell by 3.40% in the course of the last 24-hours. The trading volume of Bitcoin Cash is now at $1.439 billion. BCH stands at $306.29, and the supply has 17,915,938 BCH tokens circulating presently. The total market cap of Bitcoin Cash is $5.487 billion.

Litecoin is ranked at #4. The price of LTC rests at $89.42, after a plunge rate of 4.82% brought the price down. The trading volume recorded is $2.604 billion in the span of the passing day. The circulating supply has 62,855,118 LTC in play as of this moment. The total market cap of Litecoin is $5.620.

Even though many merchants in the U.S. have begun accepting LTC and BCH as a mode of payment, the senators are unsure of the benefits of cryptocurrencies. Like always, people well-versed in technology are avoided and moronically backward men and women lead nations around the world.

A similar development had occurred in India. A panel formed under the guidance of the Finance Ministry has declared Bitcoin as unlawful and proposed a blanket ban AND a 10-year jail term on those found engaging in crypto-trading and other transactions.

The Litecoin Summit will take place on October 28th to 29th this year in Nevada. Many core members, including Charlie Lee will be attending this huge gathering of Litecoin enthusiasts from around the world.

Litecoin must keep its price above the $86 level, lest further losses may bring the coin further down. This will cause Bitcoin Cash to overtake Litecoin and land at #4. This remains to be seen, as the duo are locked in a bitter contest, even as the market reels from impending volatility.