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Litecoin (LTC) at New Lows This Year. Is It Time To Get Some More?

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Litecoin
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Current analysis of the current levels witnessed by Litecoin (LTC) indicates that the coin has recently hit new lows for the year. LTC is currently trading at $96.80 and down 8.64% in the last 24 hours. Further analyses indicate that a new low was achieved on Wednesday, 14th of June when the coin was valued at $94.97.

Doing a bit of time traveling and checking when LTC last reached these levels, we find that LTC tested these levels, back on the 28th of November. Litecoin would later skyrocket to new levels of $339 on December 12th and $371 on December 19th according to coinmarketcap.com.

So, is it a good time to buy some Litecoin?

Warren Buffett is one investor who does not shy away when the traditional stock markets are in turmoil. As a matter of fact, this is the time Buffett is known to get excited about buying stocks. He loves to buy and hold.

But we all know Buffett does not like cryptocurrencies.

Very true. But we can still borrow the analogy. Litecoin is at a very low level right now. Anyone with additional capital and the risk tolerance of the cryptocurrency markets can go ahead and buy. However, please note this author is not a financial adviser. He is simply working from observing past trends.

Recent Litecoin news.

Abra Global has been bullish about Litecoin (LTC) for quite some time now. The company’s CEO has even stated that the company will be using LTC as their primary digital asset moving forward. They will use Litecoin for their smart contract investing solution because of 3 reasons outlined below:

  1. Commitment to Bitcoin compatibility
  2. Better scalability than Bitcoin
  3. Lower transaction costs than those of Bitcoin

The Abra Wallet has since added Litecoin to the platform and supports direct withdrawals and deposits of the coin.

Litecoin is still living in the shadows of the disappointment of Litepay which was canceled abruptly due to what Charlie Lee termed as lack of due diligence. But time is always a factor for such a project to recover its footing in the crypto-verse. Perhaps this new low value is a sort of ‘reset button’ for the coin and project to start afresh on a new leaf.

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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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Altcoins

Analyzing The Best-Performing Cryptos

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cryptos
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Over the nebulous first half of this year, some tiny cryptos were able to grow by more than 1000% and reach the desired top 100, while others that were already in the top 50 bastions simply zeroed. What factors led them to perform like this? Luck, external factors or well-made decisions?

First of all, it is important to clarify that it would be unwise to analyze them disregarding the market context (crypto and non-crypto) of the period, so we’re using a holistic approach.
In our timeframe, considering the traditional market cycle of emotions, in contrast to the standard chart below, the euphoria quadrant had a much larger peak and a much shorter duration, starting in the middle of 2017 and ending at the beginning of 2018, while we were stuck in the period of “excitement” since, maybe, 2015. The emotions in red passed in a rush and at the end of July, we were already in deep “despondency”.

Source: https://russellinvestments.com/ca/insights/the-market-cycle-of-emotions

Besides to the fact that the market completed half of the cycle in less than half a year, some very relevant things, besides the usual phenomena expected of an investment market, happened during this period. In addition to the hype the period enjoyed and the fact that bad, inexperienced investors were frantically joining the crypto market, we…

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Is Tether (USDT) really a stable coin?

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Tether
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Tether is one of the top digital assets in the crypto-sphere. The coin was launched in November 2014 after it changed its name from Realcoin so that the crypto community doesn’t associate it to the altcoins. It is important to know that Tether is a currency that helps to convert fiat currencies into digital currencies.

Moving forward, there have been lots of FUDs around Tether these days as regards to whether it is going to be a truly stable coin as the market has seen dips lately. Also, the FUDs around Tether have raised questions on whether there are any backings to the digital asset.

It is crucial to know that other factors have been attributed, and one of them was a report from last month that stated that Tether and Bitfinex, had gone their separate ways with Noble Bank. The separation made Bitfinex suspend fiat wire deposits – without no reason or whatsoever.

Tether, in regards to market worth, comprises about 92 percent of the market capitalization of stable coins. Also, this stable coin offers two purposes: to stabilize the volatility of Bitcoin, and also to preserve the amount of money purchasing power investors have at hand when the value of larger cryptocurrencies such as BTC drops.

The coin is a good alternative for traders when trying to cash-in on fiat currencies, as we do know that trying to move money from different exchanges to fiat…

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TRON Partnership Involves Cloud Computing

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TRON partnership
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It has been almost an entire week since Justin Sun, the founder of TRON (TRX), announced a new big partnership for this cryptocurrency. His Twitter announcement did not provide a lot of information, except for the fact that the TRON partnership is with an industry giant worth tens of billions of dollars.

Even so, the entire crypto community started speculating about the new partner’s identity. Soon after the announcement, a new rumor emerged, claiming that the identity of an unnamed corporation was uncovered. According to the rumor, TRON’s new partner is none other than Baidu, one of the largest tech giants of China, which also represents this country’s largest internet search provider.

Baidu is often viewed as China’s version of Google, and if the rumors of a partnership with this company turn out to be true, this will be a big game-changer for TRON.

However, in days following the announcement, new reports started coming in with claims that the partnership will not revolve around blockchain technology. Instead, ODaily reported that the alleged partnership between TRON and Baidu will be focused on cloud computing. The report claims that TRON will be purchasing computing resources from Baidu.

Baidu to…

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