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Litecoin (LTC) price prediction: The bulls might soon take over, here is why

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Litecoin (LTC) continues to work under the radar as an inexpensive and fast medium of exchange. However, price instability suggests Litecoin (LTC) is far from being a reliable unit of account or store of value.

According to our observation, Litecoin continuous announcements of its adoption for both utility and trading is more likely to have a bullish sheathing effect the remaining time of the year. However, better days may be ahead for LTC.

Early this year, Litecoin prices started to depreciate prompting many coin holders to speculate that the price decline was a correction as a result of last year’s enormous bull run. However, Litecoin’s dismal performance has taken a long stay impacting on the digital token.

Although trying to recover, Litecoin has been witnessing reversals that always see the digital asset lose its value more than it was before the brief rallies and price bursts. There is no doubt that Litecoin is a significantly oversold cryptocurrency in the virtual currency market, showing indications of a remarkable comeback.

However, many coin holders have grown impatient and traded off their investments at losses due to lack of confidence and trust in the cryptocurrency and its ability to rise from the murky waters.

On the other hand, analysts are now claiming that the current market trend favors Litecoin and an expected rebound is likely to occur any time from now. Crypto experts are arguing that with Litecoin (LTC) in the oversold region, it is just a matter of time when the bulls will soon take over.

Litecoin Price Value

At the time of writing, Litecoin (LTC) is trading at 60.2 US dollars. The interesting bit about this is that the current valuation of Litecoin is almost similar to 2013’s peak of 50.27 US dollars.

It is prudent to note that today’s trading volume is far higher than it was 5-years ago suggesting two things. One, Litecoin’s value back in 2013 was sustained by the blockchain’s underlying technical worth rather than its market influence.

Since Litecoin’s blockchain technology is more or less the same, investors are urged to be hot on their heels on the products and services Litecoin (LTC) has to offer. Two, more Litecoin (LTC) is being exchanged today compared to back then even though LTC prices are still low indicating that people might be missing something.

In simple words, individuals were initially inspired by the LTC project and what it offered assisting in pushing its prices to higher heights.

However, as new altcoins were launched flooding the crypto market, individuals started looking beyond LTC moving along with the hype that was being created by other coins. The result was that the price of Litecoin (LTC) in US dollars did not reach its expected potential despite the coins impressive history and trading volume.

All hope is not lost. In August, Litecoin’s founder, Charlie Lee disclosed to the world that the digital coin was working with mobile company HTC to build and create new blockchain smartphones.

The smartphones are going to not only serve Litecoin but serve as a wallet for various cryptos although Litecoin will be better placed to take advantage of the new project. The realization of this project is sure to increase the price value of Litecoin (LTC).

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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.

Image courtesy of Pixabay.com

Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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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.

Mission Statement

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,…

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CoinFlip Scores Big with BRD Wallet Partnership

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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…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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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…

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