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:
- Commitment to Bitcoin compatibility
- Better scalability than Bitcoin
- 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.
For the latest cryptocurrency news, join our Telegram!
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 Pexels
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…
Cryptocurrency Collateralized Debt Positions Are Growing in Popularity
While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle. Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance. One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess. That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS. These projects have managed to find a foothold in the market and have a better chance than most of staying there. While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.
What is a Cryptocurrency CDP?
In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount. There are several examples of this in our day to day lives. Auto title loans from large companies like TitleMax are extremely popular with consumers. Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has. The consumer can continue using their car as long as debt payments are made.
The same concept applies to cryptocurrency CDPs. Consumers are able to put up crypto tokens, such as…