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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.

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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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Altcoins

ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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