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Litecoin (LTC) Must Gun For ‘Big Brother’ Bitcoin (BTC)

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Analyzing the crypto-markets, we find that Litecoin (LTC) is highly oversold and is currently at a discounted price. The coin that is the brain-child of Charlie Lee, is currently trading at $52 at the moment of writing this. This is only 16.5% of its peak value of $363 back in December. In terms of depreciation, LTC has done a downward spiral since then, that is equivalent to 84%. This is a frightening figure.

Why Litecoin (LTC) Mooned then dumped in January

Back in December, at the epicenter of the bull run that was being experienced back then, crypto-traders were suffering from high transactions fees on both the Bitcoin (BTC) and Ethereum (ETH) networks. Both networks were also clogged as crypto-traders were ‘shooting’ their funds across exchanges to get the next big pump in the markets. Then the same savvy traders realized that LTC was faster in transferring funds across exchanges, its network was less congested and transactions were way cheaper than the other two top coins. LTC was King back then and not Bitcoin (BTC).

It is with such an event that it might be time for the Litecoin (LTC) foundation to capitalize on the awesomeness of the coin to market it as an alternative to Bitcoin. The current marketing that it is there that puts LTC as a support for BTC is wrong. The crypto markets are a jungle and to survive, coins must be advertised accordingly.

Going back to the events of December and early this year, Charlie Lee then announced he had sold all his holdings of LTC to concentrate more on the project. This reason was very noble, but many loyal fans saw it as abandonment and a quick payday for Charlie. These sentiments still resonate today in the crypto-verse with Charlie receiving tonnes of FUD to this day. But you cannot blame the guy if he genuinely cashed out. The crypto-market is a jungle and only the savvy survive with their profits.

LTC must gun to dethrone BTC or fall off the charts

Litecoin has proven that it is a more efficient alternative to Bitcoin (BTC) and way more friendly than Ethereum. Therefore, Charlie Lee needs to put on his battle helmet and gun for the top or risk being obsolete. There are other coins and projects that are aiming for the efficiency LTC provides and it is only a matter of time before they succeed.

Three examples are XRP, Cardano (ADA) and XLM. XRP has proven to be the fastest means of transferring funds in exchanges according to a recent Twitter poll by Weiss ratings. With this fact, XRP has edged out LTC in this use case scenario.

Cardano, on the other hand, has numerous developments under its belt and more to come. Stellar has been rising gradually in the markets and will soon be a top 5 coin. It has edged out Litecoin and is at number 6, with only EOS standing in its way and according to coinmarketcap.com.

In conclusion, LTC is slowly and evidently losing relevance in the crypto-verse due to its long-held philosophy of complimenting Bitcoin. It is time for the Litecoin foundation to remove the ‘boxing gloves’ and get into a ‘bare-knuckle’ brawl to get back to the top.

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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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Bitcoin

The Bitcoin Revolution: Everything You Need To Know To Take Profits

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Bitcoin is soaring high in the cryptomarket once again, and experts are expecting a return of the bullish trend of 2017. The current Bitcoin price is $7,615 as of 23 May 6:56 AM UTC. This significant jump comes just six months after the Bitcoin price plummeted to a low of $3150 in December 2018. Since then, Bitcoin has experienced steady growth and gain in the market. However, in the last 30 days, the Bitcoin price peaked to $8,320.82, its highest price ever. This phenomenal jump occurred in a span of only 10 days breaking the Bitcoin record so far of significant gains made in short time frames. This positive growth has led to experts forecasting the Bitcoin price to hit the $20,000 mark by the end of this year.

Since entering the market almost 11 years ago, Bitcoin is still at the top of the global cryptocurrencies list. The current circulating supply of Bitcoin is at unbelievable 17,708,875 BTC. The market trend of the Bitcoin price has remained positive even when the currency did not maintain an uptrend. Cryptocurrency researchers believe that Bitcoin has the potential to grow up to a high of USD 50,000 within the next two years.

How to Profit from Bitcoin…

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Altcoins

3 Altcoins That Are Outperforming Bitcoin and Will Likely Face Consequences

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The crypto market is going through a period of massive recovery in the past few months, which has caused the investors’ optimism to return. While all eyes are on Bitcoin (BTC), as usual, the largest coin seems to be struggling with a major resistance level at $8,000 at the moment. While this level was breached a few times now, every breach resulted in a correction.

At the time of writing, BTC is approaching this level yet again, with its current price being at $7,985,79, and rising further. The price managed to grow by 1.06% in the last 24 hours, and will undoubtedly hit $8,000 in a matter of hours, if not sooner.

However, while Bitcoin continues to remain volatile and struggles with waves of growth and decline, there are some altcoins that are not following its path. Of course, most of them are performing in pretty much the same manner as BTC, as they always had. But, a few coins have actually managed to outperform Bitcoin in recent months.

While optimists believe that this might lead to decoupling from Bitcoin — something that only Binance Coin (BNB) managed to pull off up to this point — it is likely that there will be consequences for these cryptos. This likely means that a price drop for these specific coins awaits somewhere in the near future, as outperforming BTC…

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Altcoins

3 Cryptocurrencies Most Likely to Follow Bitcoin’s Performance

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For more than a year, the cryptocurrency market has been dominated by bearish influence, with most coins seeing constant drops, or stagnation, at best. This all changed in the past few months, starting with Bitcoin which once again started leading the market up, bringing one minor rally after another.

BTC itself experienced massive losses in 2018, with its price going down by around 84%. Most other coins among the top 10 mirrored its performance, and some of them experienced even greater losses. However, now that Bitcoin sees gains again, these cryptocurrencies are still following its example, and many of them have seen massive breakouts. Some of the more notable altcoins that followed Bitcoin’s recent example are Ethereum (ETH), Stellar (XLM), and Cardano (ADA).

Ethereum performance mirroring Bitcoin’s price

As mentioned, Bitcoin led every rally so far, but before it did, its price first went through what is known as an ascending triangle pattern. The pattern held for around five months, which is exceptionally long for the crypto world. However, once the pattern was finally broken — the coin’s price skyrocketed, more than doubling itself within only two months.

One thing to note is that Ethereum performed in pretty much the same fashion. After five months of struggle and confusion for investors, the second largest cryptocurrency also managed to break the pattern and skyrocket as well. It…

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