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Bitcoin is the new gold; is Litecoin new silver and good crypto to invest now?

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At the moment, most of the cryptocurrencies are wearing green, again. Bitcoin is up above the $6500 resistance level for some days now, and it is at $8,254 – Bitcoin’s dominance is at 46.7% as of today. One good news is that the general market capitalization of cryptocurrencies is now at $300 Billion. It is quite clear now that Bitcoin is the digital now, but is it safe to say yet that Litecoin is the silver? In this article, we will be taking a good look at Litecoin (LTC).

Is Litecoin the New Silver Coin?

Currently, Litecoin is priced at $86.96 per token, according to CoinMarketCap. It currently has a market capitalization of $5 Billion and is the 7th largest crypto in the cryptocurrency market.

During Golden Finance interview with the Charlie Lee, the founder of Litecoin, Lee stated why he sold all of his holdings. He said,

It always feels strange when I would publish predictions about the movement of the Litecoin market.

As per Lee, he feels relieved after selling out his shares.

Lee spoke on the transaction speed of Litecoin over Bitcoin. As per him, and the results, the transaction speed of Litecoin is faster and less costly than Bitcoin. On a question about the future of Litecoin, Lee stated that the future is based on mass adoption.

Concluding his interview with the Chinese Golden Finance, Lee stated,

Bitcoin will be the new gold (always) in the crypto sphere and would be good if Litecoin could get more than 10 percent of Bitcoin’s worth to be the silver coin.”

The Litecoin CEO also emphasized that the market worth of BTC can’t be compared:

Bitcoin doesn’t face storage problems. It’s very easy to transfer. For me, it’s better than gold in many ways. Being optimistic, the market value of Bitcoin could be more than the $10 trillion market value of Gold. More than 100 times the upside.”

This means that if BTC is the gold in the crypto sphere, then, is LTC the ‘new silver’? Or which one among the other crypto coins is next to Bitcoin when it comes to futuristic value? Lee answered by saying,

There are many possibilities, but Ripple is somewhat like a diamond because its supply is artificially controlled.”

The Market Analysis of Litecoin

According to Litecoin’s market chart, there is a big breakdown; and that’s as a result of Bitcoin. In the last seven days, Litecoin pulled up and reached the $86 price mark.

There was a significant resistance during the first to second week of July, and it is good news that Litecoin has broken out of that resistance level to a big price of about $86 today – there are signs that Litecoin will be more than its present price next week.

Furthermore, if we take a look at the 4-hour trade today on Litecoin’s chart, LTC was almost at the overbought territory, but it is now back down into the stable mark.

Litecoin is doing quite well at the moment, and it is currently on a sound standpoint. It is essential also to know that if Litecoin would fall, it would only drop to $80 level of support level – there isn’t a possibility LTC will go down than that anytime soon now. The next aim for LTC is to break above the $90 region, which is achieved.

Final words

The window of opportunity is gradually closing, and this is the right time to invest in cryptocurrencies such as LTC. Litecoin is set for a bullish run, and there is a high possibility it will move up to the $100 price mark in the next couple of weeks at max.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Maxpixel.net

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Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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