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Reasons Behind Litecoin Recent Bullish Run

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LTC
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The Cryptocurrency world can be amusing at times, with investor sentiment being the single most factors that shadow other economic considerations. Market sentiment is the main influence on the majority of the erratic price movements experienced in the recent Cryptocurrency slump. Although the market seems to be recovering slowly, crypto-leaders like Bitcoin, Ethereum, Ripple etc have been hit hard. Litecoin has appeared comparatively unscathed, currently ranking at 5th in the world, according to CoinMarketCap. As of 22/03/2018, Litecoin has a total Market Cap of  $9,259,813,820 USD with a maximum supply of 84,000,000 LTC tokens.

Much has been speculated about the factors behind Litecoin’s apparent price stability compared to other cryptocurrencies. It is to be noted, that the Cryptocurrency market, on the whole, had experienced substantial losses and comparatively Litecoin has shown stability. This, however, comes after a massive, with Litecoin market cap originally being $17,277,443,082 USD on January 06.

Reasons Behind Litecoin’s Bullish breakout

Litecoin has always been revered by the crypto-community at large, partly because it’s cheaper and possesses a considerable degree of higher speed compared to the likes of Bitcoin and Ripple. Even though Bitcoin still occupies the top spot in the crypto-universe, Litecoin has been stable in the 5th position for quite some time now. There are two major factors responsible for this:

  1. Recent G20 Assurances: Litecoin’s value bounced up after a period of considerable lows, following the G20 announcements. As reported by Reuters, the fears regarding cryptocurrencies have started to disappear, after G20’s positive assurances. Crypto-analysts are of the opinion that Litecoin his indeed on the way up, with a projected value of $400 by the middle of the year.  Indeed it had a positive impact on Litecoin price levels,  with the price spiking from $8,909,265,784 USD on March 20th  to $ 9,655,414,078 USD on March 21st, going even higher later that day.
  2. The Introduction of LitePay: Litecoin has recently come up with Litepay, a payment processor application developed by Litecoin. With a flexible and straightforward design, it aims at providing businesses with Cryptocurrency payment options. Much hype has been experienced around LitePay’s release, with analysts citing three main reasons for its mass adoption in the near future.

a. Cryptocurrency Commerce adoption: Since there is no easy payment processing technology to help merchants and businesses to serve crypto-customers, LitePay will certainly be a revelation. The system is proven to efficiently deal with market fluctuations and volatility and transactions can be initiated from anywhere in the world. All of this points to a bright future for Litecoin adoption.

b. Prepaid Credit Card: To provide more convenience to users, litepay aims to efficiently serve both customers as well as merchants. To provide instant access to its users Litepay Credit Cards will pave the way for instantaneous transactions with a high level of security. This is backed by Blockchain’s Incorruptible and decentralized nature.

c. Lower transaction fees: Many investors shy away from making profitable trading decisions, citing high transaction fees as the number one reason. However, the LitePay system has been developed to change this scenario, by directly negotiating local banking institutions when exchanging cryptocurrencies. The commission has been capped at a flat 1% rate as opposed to the standard 3% charged by normal credit cards. This will facilitate holders to easily able to convert Litecoin to dollars without any restrictions.

Future Prospects:

Unlike many cryptocurrencies, the future prospects of Litecoin Adoption are massive. Many analysts believe that a” bull flag breakout” would revive the bull run and possibly yield a rally to $300-$320 in the longer term. Litecoin thus can be considered as Silver to Bitcoin’s Gold. The presence of a leader like Charlie Lee has provided immense confidence to the growing Litecoin community.  The fact that Litecoin is also ASIC resistant is certainly another plus point for future mass adoption. Thus Litecoin is expected to grow exponentially this year, as more and more users start to recognize its advantages over Bitcoin.

We will be updating our subscribers as soon as we know more. For the latest on LTC, sign up below!

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 Victoria Catterson via Flickr

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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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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