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Should you invest in Litecoin in 2018

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Litecoin is a cryptocurrency that emerge after a successful fork of the bitcoin network which occurred when a split of the bitcoin community supported an ‘Improved’ version of the bitcoin software. Litecoin is an open source project just like bitcoin. Litecoin is the cryptocurrency preferred by tech-savvy investors and still remains one of the most secure cryptocurrencies with the most untapped potentials.

 

History of Litecoin and why it’s a relevant cryptocurrency to date

Litecoin was lunched on GitHub on October 2011 after a successful fork in the bitcoin network, its founder Charlie lee is a former employee at Google. There are only a few existing major differences between Litecoin and its mother cryptocurrency bitcoin. Some of the difference between the two cryptocurrencies Litecoin and bitcoin include, difference in block generation time, the number of available tokens, GUI and the hashing algorithm.

Litecoin has a market cap significantly increased in the year 2013 due to a improved market performance of the cryptocurrency after its value doubled in a period of just 24 hours. Litecoin is one of the most preferred cryptocurrencies for investors and traders around the world.

Last year the Litecoin community agreed to adapt SegWit, a new update to the system which increases the transaction block size of the cryptocurrency by separating transaction signatures. Lightning network one of the most vital initiatives aimed at reducing the transaction confirmation time in the bitcoin network was is being developed based on the Litecoin blockchain.

A lot of bitcoin enthusiast who find deficiencies with the bitcoin blockchain always migrate to the Litecoin network making the Litecoin community a huge one. There are significant cryptocurrency and blockchain infrastructure devoted to the Litecoin blockchain.

 

There is a high demand for Litecoin on the Dark web!

Most cryptocurrencies share a common feature of anonymity making them a prefer currency for transaction in condition where the transacting parties desires to conceal their true identities and remain trustworthy to each other. One of the chief reasons why Litecoin is highly desired in the underground internet space, the dark web is because of its enhance speed.

For this matter Litecoin is highly demanded in the underground web which is estimated to host a good percentage of the entire internet population. Since all cryptocurrencies growths depends significantly on their demand, the dark web demand factor makes Litecoin a cryptocurrency to watch in 2018 and the coming years.

Very many dark web-based markets moved away from bitcoin due to increased transaction processing fees and confirmation time in the network. The other cryptocurrency which had before succeeded Litecoin was monero but its privacy issues led to a large drop in its usage on the dark web.

 

Litecoin has an upward point price movement

Litecoin is not only a champion in transaction processing time but also present a cheaper option for people seeking to send micro transactions to other people. This signifies that Litecoin adoption is on the upward trend so is its price.  A good performing cryptocurrency means prices are steadily increasing thus making the cryptocurrency more valuable as time goes on.

Litecoin can be securely traded just like any other cryptocurrency, one of the leading platforms in trading and exchanging Litecoin is Blockonix.com. Blockonix is specifically single out in this category because of the low fees, high user ratings and level of security the platform promises.

Altcoins

Best Tools to track Cryptocurrency Markets: CryptoCompare, CoinMarketApp, CoinGecko

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There are different websites and mobile applications designed to keep the track of cryptocurrency market, we cover the Top 3 of these.

The cryptocurrency market includes the prices and market capitalizations of different Cryptocurrencies like Bitcoin, Ethereum, Stellar and many others. Currently, there are thousands of cryptocurrencies, markets are 16084 and market capitalization is about $124,123,711,224.

 

There are different websites and mobile applications designed to keep the track of cryptocurrency market, we cover the Top 3 of these:

 

CryptoCompare.com

Known for its high-end API and real-time tick data, CryptoCompare has been serving the cryptocurrency space from 2014.

Founders: Charles Hayter & Vlad Cealicu

CryptoCompare shows real-time data for more than 5300 Coins and 240k trading pairs, enough for an entire overview of the market. Users can see live Order books, historical data, reports, social data and reviews on all cryptocurrencies. The website is very easy to use and is free for everyone.

 

CoinGecko.com

We love CoinGecko because it focuses on tracking community growth, events hosted by teams and open-source code development apart from the usual price tracking, market capitalization and volume traded. It was also founded in 2014.

Founders: TM Lee, Bobby Ong & others

CoinGecko’s team is very dynamic and is very active on social media like Twitter, Telegram & Facebook. They cover more than 260 exchanges with live data and have more than 3300 cryptocurrencies. They are free for everyone to use.

 

CoinMarketApp (Mobile Application)

When it comes to easily track the live prices and your portfolio on your mobile, CoinMarketApp is the preferred choice for most. With live alerts on more than 1400 Cryptocurrencies, the app saves your time and alerts you on every move.

Download on Android

Download on iOS

Apart from cryptocurrency prices, the app lets you manage your portfolio, mining pools, new contracts and the latest news from the crypto industry.

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Altcoins

Cryptocurrency Market Updates: Bitcoin May fall further

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The cryptocurrency market is still facing the same bullish trend today, yet again. Bitcoin price recovered a little with trading around $4300 to $4400.

The cryptocurrency market is still facing the same bullish trend today, yet again. Bitcoin price recovered a little with trading around $4300 to $4400. Yesterday the price of bitcoin fell up to $4190. Ethereum is still trading at a year and a half low of $125. Apart from ethereum, most altcoins are showing small corrections. Bitcoin Cash moved 3% upwards while Monero has moved 4% upwards in the last 24 hours. Bitcoin Gold and Bitcoin Diamond have had good gains for the day with 8% and 16% rise. IOTA is trading at around $0.32 which shows a 6% improvement from yesterday’s price. NEO is up by 5%. However, the small gains are nothing in front of the massive downtrend these altcoins went through in the past couple of days.

 

Cryptocurrency Market Capitalization Improved

The total cryptocurrency market cap yesterday came down up to $136 billion which was the lowest of 2018. In the last 24 hours, cryptocurrency market has managed to add $4 billion in the market capitalization adding to $140 billion. Over the last week, the cryptocurrency market had lost over $40 billion and over the last month, around $70 billion have been erased from the cryptocurrency market capitalization which is yet to be recovered.

 

Bearish predictions for bitcoin

While the market cap is trying to recover the price predictions for bitcoin still remain bearish as many cryptocurrency analysts have predicted that the only support after the current significant support of $4000 is at $3000. So if the price drops below $4000, it will definitely reach down to $3000 after which the price is expected to recover.

 

The overall situation of the market is still harsh as there is no major recovery from the massive losses that occurred in the past few days. What do you think about the bitcoin predictions being made by crypto analysts? Tell us in the comments section below.

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Bitcoin Cash Hard fork screwed the whole cryptocurrency market

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Whole cryptocurrency market is suffering because of the continues wars going on between ABC and SV which has created a bad reputation of the crypto space.

The original Bitcoin Cash split into Bitcoin ABC and Bitcoin SV during the hard fork but no one is sure to weather BCHSV or BCHABC will survive in the market as the hash wars still continue. The hard fork has lead to an uncertain future of Bitcoin Cash and also screwed the whole cryptocurrency market. The Price of both the new coins is on a continues decrease where Bitcoin Cash ABC values at around $226 and Bitcoin Cash SV values at around $76.

 

Cryptocurrency Market Crash

The whole cryptocurrency market is suffering because of the continues wars going on between the two teams which have created a bad reputation of the crypto space to the newbies. At this time when more and more institutional investors were entering into the cryptocurrency space, the hard fork has created a feeling of Fear, Uncertainty and Doubt amongst them.

 

BTCUSD yearly chart

BTCUSD yearly chart

 

As the hard fork started, the entire cryptocurrency market faced a downfall where all major cryptos are on a 6 month low with bitcoin trading around $5200 that is a yearly low for the most dominant cryptocurrency. The decline is the price has created fear in the minds of investors who are now talking about capitulation.

 

Should Craig Wright be blamed?

Craig Wright who claims to be the real Satoshi Nakamoto and the founder of the original bitcoin has been funding his side of the war using BTC. Cryptocurrency enthusiasts around the world are criticizing Craig Wright and also calling him a lier.

 

 

The local media’s role

The real reason behind the rise of cryptocurrency and blockchain was the mass adoption by people who heard about it through local media. At that time, the local media described bitcoin and other cryptocurrencies as the future of money explaining the decentralized nature of such currencies, but now due to the wars within the cryptocurrency ecosystem, the local media has started to criticize cryptos and people have started to lose faith in the crypto market.

If the amount of money being used in such hash wars would have instead been used for the development of the crypto ecosystem with advancements such as lightning network, the market could still be flourishing rather than being on the verge of getting sunk.

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