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Here's Why Now Is A Great Time To Pick Up Some Litecoin (LTC) - Global Coin Report
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Here’s Why Now Is A Great Time To Pick Up Some Litecoin (LTC)

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Litecoin
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With a relatively stable Bitcoin (BTC) comes the possibility of the rest of our favorite coins and tokens to exhibit some profitable gains. Bitcoin (BTC) is currently trading at $6.749 and looks like testing the $7,000 resistance level very soon. This means that the total crypto market capitalization might also go above $300 Billion from the current levels of $276 Billion.

It is with such optimism of a healthy crypto market, that it might be time to reconsider getting some Litecoin (LTC) while the price is relatively low. The digital asset that is sometimes called Bitcoin’s little brother, is currently trading at $88 and up 2.81% in the last 24 hours. LTC has not been at these levels since late November last year. The coin might have bottomed out on June 29th this year, when it was valued at around $74.

The last crypto rally in late December last year and early January this year, found Litecoin doing tremendously well above $300 with a peak value of $364 on December 19th, 2017.

But will it really reach those levels again?

One promising indicator that Litecoin and the entire crypto markets might be headed for another rally, is the recent announcement by Coinbase to offer secure crypto storage to high net individuals and hedge funds who want to start investing in cryptocurrencies. This new service has been dubbed Coinbase Custody and so far supports the 5 coins that are supported by the exchange: Bitcoin (BTC), Ethereum (ETH), Ethereum Classic (ETC), Bitcoin Cash (BCH) and Litecoin (LTC).

This means that LTC will be a choice for the high net individuals and institutional investors willing to use Coinbase’s services. As a result, LTC will be bought and held in bulk leading to a reduction of the general circulating supply as well as an increase in value as demand continues to grow.

Coinbase CEO showed his excitement with regards to the new service when he tweeted the following:

It is clear that there is a lot of bullish sentiment not only within the organization of Coinbase but as well as on Wallstreet through the numerous hedge funds and the high net individuals who simply want to buy and HODL for speculation purposes. LTC will be one of the 5 digital assets available for them thus giving the coin the much-needed exposure.

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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.

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Bitcoin, Litecoin, Ethereum, and Ripple On the Rise

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The recent development in the cryptocurrency industry is a rise in price for many of the core digital coins. We believe that the unexpected price hike is due to the renewed interest of the key players in the industry. Many investors, speculators, and traders are rushing into the number one cryptocurrency; Bitcoin like never before. Other altcoins such as Ethereum, Ripple, and Litecoin are not dormant either. The effect of the influx is the soaring prices of the digital coins within seven days.

The price of the crypto leading giant-Bitcoin has increased at 25.74 percent in one week. Ethereum also gained 18.76 percent increase in its price. Litecoin and Ripple also recorded some percentage increase in the tune of 53.20 percent and 16.12 percent respectively. It is no just these few popular coins that have gained in one week. From what we have gathered, 94 digital coins amongst the leading 100 cryptocurrencies are also experiencing the rise in price. This information is according to what TradingView published in April 2019.

According to them also, other cryptocurrencies gained in value while others declined. From their calculations, six digital currencies advanced while ninety-four was on the decline. Also, another information shows that the increase in Bitcoin price has reduced the value of other assets such as bonds and stocks.

The possible reason for the rally

Many people are wondering…

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Crypto Market is Not Free from the Bearish Trend Yet

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Investors and traders are still speculating over the bullish trend that shook the market this past seven days. However, amidst the joy of the price hike in the industry, some people are still cautious. A crypto trader with the twitter handle of BTC_Macro is advising other players in his tweet to be careful. According to him, the bearish cryptocurrency market is not over yet.

In the tweet, the user admonished players in the market not to listen to the people saying that the bears have given up. It went further to say that Bitcoin may still plunge uncontrollably anytime even if it breaks the $6K mark. When this occurs the twitter user continues, any scenario may occur. The advice is that players in the crypto market should be on the neutral side. According to the user, it is not safe to be on the bullish side or the bearish side. Instead, players should be on their toes without bias.

How Trader reacts to price movements

Over time, it has become evident that many traders usually go against the market majority during bearish or bullish trends. Well, there is usually some logic backing up the reactions.

It is true that we have seen the longest bearish trend in the history of cryptocurrencies. Everybody who has a stake in the crypto market is expecting the day of the bull’s rise…

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The Interoperability Problem of Blockchain May Soon Be Over

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Crypto traders have certainly had a rough time since early 2018. The markets have tanked resulting in large losses for nearly everyone involved in the market. While that’s bad, what’s even worse is the fact that many projects have failed to deliver on their roadmap. Blockchain technology has been hailed as the next great advance in technology. And while many companies are making strides toward fully implementing blockchain-based technology, there is still a long way to go. As promising as blockchain technology is, there are still limitations that need to be addressed.

Limitations of Blockchain Networks

Although blockchain technology is certainly the future, the existing technology will need to be improved before it can go mainstream.  A few of the current limitations include:

  • Limited Scalability – Blockchain networks have consensus mechanisms that require each node to verify a transaction. This verification requirement slows down the network and limits the total number of transactions that can be processed.
  • Limited Usage – Each blockchain network was created with specific usage in mind. Because of the limited number of use-cases, each network eventually suffers from a never-ending loop of limited adoption. In the end, this causes low awareness.
  • Lack of Interoperability – At present, individual blockchain ecosystems are unable to communicate with each other. If a blockchain network attempts to retrieve information from an external (outside the “chain”) source, each node would have to…
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