Litecoin as a digital asset that attracts more users to its network due to the fact that it is cheap, fast, and reliable. It is often regarded as a better choice than Bitcoin. Litecoin has gotten the media attention, and as a result, lots of investors want to invest in it.
After a few years of being at the top with other top cryptos, Litecoin is poised to breakout from its current status – but there are so much efforts to be put forward by the team behind it. The cryptocurrency currently stands at $55.55 at the time of writing.
Can LTC Reach $10,000 by 2020?
In November 2017, LTC was trading at $100 per coin. The next month (December), LTC traded much higher as its price surged to $331 per token. Nevertheless, this year has witnessed severe dips not only on Litecoin alone but with other altcoins.
Probably, one of the effects on LTC’s price is due to the market activities of Bitcoin (it’s a fork of Bitcoin, and as like all other cryptocurrencies on the market, Litecoin hasn’t succeeded in decoupling from BTC). With Bitcoin staggering hitting lows of $6000, LTC also has its price going back and forth, hitting the price range of $50-60.
We shouldn’t forget that this year, BTC’s worth increased by 1300%, while LTC’s value had a meteoritic rise and as a result, the crypto spiked by 2400%. As we have witnessed before the end of last year, LTC is gradually recovering from the price dips as Bitcoin is.
Moving forward, despite the fact that LTC is slowly recovering from the pull-backs, it has the potentials to attain $1000 before 2018 closes and also reach $10,000 when we land in the year 2020 – but this all depends on some factors, according to Forbes.
First thing first, Bitcoin’s future growth and spikes would play a key role. It is important to know that a positive turnaround from the world’s leading cryptocurrency, Bitcoin, would positively affect LTC on a right side. This is primarily due to the fact that if there are more trades on Bitcoin’s network, it boosts transactions and then, positive things follow for other altcoins, especially Litecoin.
Secondly, a high mass adoption of Litecoin’s protocol could also affect the price of LTC. Since Litecoin is considered similar to Bitcoin – but faster and cheaper than Bitcoin, it can cause an increased effect on the price of Litecoin on a long-term.
Last but not the least, is the determining factor of Coinbase. We do know that Coinbase is one of the leading crypto exchange in the crypto market today; however, an inflow of investors on Coinbase can also have a positive effect on Litecoin price in the long-term.
Litecoin has better usability compared to Bitcoin. Most investors use Litecoin as a standard for most blockchain dealings such as smart contracts, and so on.
However, Litecoin has the possibility to hit the bulls before the end of this year and on a long-term. If you are confused about investing in Litecoin, then, it is essential that you look at its price and value on long-term. Litecoin is poised for a breakout, and we should not be surprised if we see the bulls kicking earlier than forecasted.
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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.
Photo by Adrian Curiel on Unsplash
Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…
CoinFlip Scores Big with BRD Wallet Partnership
As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible. While many crypto users are extremely tech oriented, a lot of those on the sidelines are not. The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above. In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country. Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.
In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map. Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells. BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit. The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.
Cryptocurrencies are already making a huge difference around the world. Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…
Can Libra help the crypto industry to reach new heights?
The market for cryptocurrencies started with the launch of Bitcoin in 2009, and since then, so many cryptocurrencies have been launched that it gets hard to keep track of them. The crypto market has seen massive growth in the past 3-4 years as it started gaining attention from mass media, which helped in this boom.
From the past 2-3 years, several new cryptocurrency projects were launching in the market. Amid all this, the social media giant – Facebook announced the launch of their cryptocurrency platform, and this news got viral like wildfire. The announcement came forward in June, and the upcoming cryptocurrency is known as Libra, and it’ll come with its dedicated wallet called Calibra.
What is Libra?
Libra is a permissioned blockchain-based digital currency which is being developed under the supervision of Facebook’s vice president, David A. Marcus. The cryptocurrency is under development in partnership with an independent, non-profit member Libra Association. Facebook is the second member of the project, and these companies aim to use Facebook’s user base for the promotion of the digital currency when it is launched. The transactions and the cryptocurrency will be managed and cryptographically entrusted by the Libra Association.
Note: Libra Association was established by Facebook to look after the cryptocurrency and the transactions, and it was founded in Geneva, Switzerland.
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