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Litecoin (LTC) value could rise to 4 digits sooner than everyone expects

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Litecoin (LTC) is one of the tokens that has been in the market for a decent time now, but even as it is one of the oldest coins in the crypto environment, its prices continue to be under the expectations of many, a fact that raise a lot of concern and doubts regarding whether the coin is undervalued or not. In fact, there are strong reasons to believe that the currency will surpass the three digits prices very soon. Let’s see the main reasoning behind this assumption.

The science behind the coin

Litecoin (LTC) was launched on Github back on October 7th of 2011, a currency that was designed to be practically identical in its technical aspects to the leader of the sector Bitcoin (BTC). In fact, it was created as an open-source fork of the first ever launched cryptocurrency of the market, and ever since then, it has performed as the silver to the pseudo-gold that represents Bitcoin (BTC).

Even when the similarities are that many, Litecoin has come a long way from where it began in 2011, having one of the strongest features of the sector in terms of costs and speed as of now. However, its performance is still way below one of the leaders of the market as the altcoin trades at a price that is thousands of times lower than the price of bitcoin, and as we believe this is actually not an accurate thing considering what the crypto has to offer to both enthusiasts and investors.

Truth be told, the conditions of the market right now are not the best to consider, and this is something that has affected every single one of the coins that exist in the market, including, of course, Bitcoin. But if we take into account the normal conditions of the sector, Litecoin (LTC) has one of the strongest and more stable performances of them all.

In these regular conditions, Bitcoin used to be one of the greatest investments, representing a great store of value to a bunch of investors and enthusiasts. But the truth is the leader of the sector still has a lot to improve in terms of speed and transactions fees, a field in which Litecoin has managed to offer operations that barely take 2.5 seconds and with incredibly low cost.

Like this, it is worth to mention that one of the main usabilities for cryptocurrencies is serving as a payment method, and this is something in which Bitcoin clearly has the lead as well being adopted on several mega websites. Nonetheless, Litecoin may see a higher adoption considering the fact that what it has to offer is better, transactions are actually cheaper, and they even take less time.

Once the market starts to rise again, a massive adoption of Litecoin could skyrocket the price of the coin, even being possible that LTC gets to the forecasted number of 1000 US dollars, but in order for this to happen one of the things the coin needs to get rid of is the relation with Bitcoin (BTC), a fact that seems to be more detrimental than helpful.

Litecoin is actually the only competitor that Bitcoin has, because even when Ethereum (ETH) is closer in numbers, the crypto is very distant on its target and this positions LTC as the most likely contender, so instead of considering the silver to the Bitcoin gold, Litecoin should be labeled in the same measure of importance than BTC.

The current price of Litecoin (LTC) is $83.07 per coin, the token has increased in value by more than 10% in the last 24 hours, and the weekly uptrend of it is expected to keep getting stronger now. So things may change sooner than anyone expects. Stay tuned!

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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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Blogs

Blockchain-Focused ETF Arrives on London Stock Exchange

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The crypto community is still waiting for the US SEC to approve Bitcoin ETFs, with speculation which application might get approval being one of the hottest topics in 2018. However, come 2019, the US government shutdown dragged on, and the Bitcoin ETF request which had the most potential to see a grant got withdrawn by the very companies that submitted the application.

While the question of BTC ETF remains hanging in the air, blockchain-focused ETFs seem to be a different matter entirely. In a recent announcement by an independent investment managed firm called Invesco, the company has stated that it was about to launch the largest blockchain-focused ETF in the world. They managed to go through with this plan, and the ETFs have reached the London Stock Exchange today, March 11th.

The exchange-traded fund includes a portfolio containing as many as 48 different firms which are bringing exposure to the emerging technology. Among them, there is Taiwan Semiconductor Manufacturing, which is a well-known creator of chips used for crypto mining, as well as the CME Group, which is the first regulated exchange in the US which launched Bitcoin futures. There are many other well-known companies as well, such as Intel, Microsoft, and others.

Chris Mellor, the Invesco’s head of ETF equity product management in Europe, said that blockchain has a huge potential to increase earnings, even though…

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Could Jeff Bezos Turn to Bitcoin to Hide Fortune from Wife?

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Amazon’s Jeff Bezos has made numerous headlines recently due to his overly-publicized divorce, which shows all signs of being one of the most expensive ones — if not THE most expensive one — in modern history. According to estimates, it might cost him as much as $70 billion, which will make his soon-to-be-ex-wife the richest woman in human history.

However, as the process continues to unfold, many have started wondering if things may have ended up differently for Bezos if he turned to Bitcoin for help.

Bitcoin as a divorce tool?

In the last several years — since Bitcoin and other cryptos hit fame — many have started turning to BTC during their divorce proceedings. In fact, it can even be said that using the largest cryptocurrency in this way has become a new trend. The trend has been gaining so much strength that numerous law companies started including advice on what to do in regards to Bitcoin as part of their websites.

However, while the trend has been picking up in recent years, it is nowhere near as easy as it might seem. For example, if there is even a suspicion of a spouse having undisclosed holdings appears during the divorce process, it might be enough to impact the final decision of the judge. In other words, even if there is a complete lack of evidence, but…

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Three Biggest Things To Know Come Cryptocurrency Tax Season

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In recent years, digital cash systems known as cryptocurrencies such as Bitcoin and Litecoin have exploded into the public eye. A blend of cash and stocks, their use and value has grown exponentially. In 2017, the IRS decided to focus great effort on taxing them. In theory, this should be as simple as calculating taxes on any other type of property, bond, or other assets. Cryptocurrency, however, presents a unique challenge. The full extent of one person’s crypto activity can stretch across dozens of platforms and take a variety of different forms. This makes it difficult to gather all of this information cohesively, much less begin the seemingly- complicated process of reporting it.

These three tips should help anyone looking to legally report their crypto activity to figure out where to start.

Documentation is key!

There are dozens of different “exchanges” individuals can use to change their cash into crypto. When the flat currency is changed into cryptocurrency at the exchange, you establish your cost basis. This makes this data crucial when you begin the process of reporting.  Those who have used a variety of different exchanges should keep detailed records of everywhere that they made trades. Once tax season arrives, most exchanges will allow users to view their entire trading history with that exchange. This information will be necessary later to complete taxes.

Calculate your total gains

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