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

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Litecoin LTC
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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

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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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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