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#Litecoin Price Analysis

Litecoin Latest Updates, LTC Price Analysis

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Keeping up with the changing attributes in the crypto domain is highly challenging in this busy world. Therefore, the article intuitively covers the recent advancements with respect to Litecoin.

 

Achievements of Litecoin

With respect to Litecoin, the cryptocurrency coin has been recently listed on the Gemini Crypto exchange, which has resulted in a slight bullish exhibition in the prices. Also, Litecoin has been incorporated by SFOX, the Palo Alto-based company formed in 2014, which assists professional traders for their operations in high volumes. They clearly mentioned that the incorporation of Litecoin was solely, due to the incoming pressure from their customers.

Also Asian Tech Giant, HTC has recently announced the incorporation of Litecoin along with Bitcoin in their blockchain-based flagship smartphone, HTC Exodus. Also, Charlie Lee would serve as an advisor to the team members of HTC Exodus. The Taiwanese company would bring the decentralized applications into the hands of people in a fundamental manner.

 

Price analysis

LTCUSD Price Chart

LTCUSD Price Chart

 

July

The Crypto coin was consolidated around $80 but reached the all-time high of its month, that is $90.

 

August

The prices significantly fell in the month of August and reached up to $60. And the month low was observed at $50.

 

September

Even in the month of September, the prices were revolving around $60 but touched $48 on September 12th.

 

October

From $61 the litecoin price has constantly been falling and the seventh largest Crypto coin is trading around $53.77.

#Litecoin Price Analysis

Litecoin Prediction 2019: Litecoin Halving and Other Updates.

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Litecoin, which is the 7th largest cryptocurrency by market capitalization has had some recent advancements. Let us cover some of these recent advancements to understand its adoption and future potential.

 

Litecoin covered the UFC

This was a really famous fight that did happen and the litecoin logo was on the mat all the time. Billions of people watched that on pay-per-view. That is actually very big. You have a great exercise in brand awareness of introducing litecoin to people who have never heard about litecoin before.

 

Other Adoptions:

  • Surf Air which is a private flight company operating in the west coast of the United States is now accepting litecoin.
  • A Brazilian supermarket chain operating in Rio De Janeiro called Oasis are now accepting litecoin, bitcoin and bitcoin cash.
  • A Singapore shopping center added a new bitcoin and litecoin atm.

 

Under the hood:

There are some other interesting things happening with litecoin recently. For example, we see the lightning network on litecoin passing over a hundred nodes which is a great step forward for the lightning network on litecoin. Also, coingate.com is going to bring 1000 merchants to litecoin lightning.

Also, people have been talking about fungibility coming to litecoin. So essentially we could see a privacy feature added to litecoin for the sake of increasing fungibility.

Now, unfortunately, there would be no way they are imagining anyway for it to be a default for every transaction so it is probably going to be optional like we have for Zcash and some other cryptocurrencies. So it won’t be privacy all the time. But we cannot expect this to happen overnight, Charlie Lee has been throwing the idea around for quite some time now and we haven’t seen it come live yet.

 

Litecoin buys 9.9% in WEG Bank:

Last year, Litecoin bought around 10% stake in a German Bank called WEG Bank which will help them provide all kinds of things that really wouldn’t be possible without having that stake in a bank. Things that will let them drive mainstream adoption of cryptocurrencies such as remittances, lending, micro-finance, e-commerce etc. All of this stuff can be done in a much easier fashion by having a piece of that important part of the traditional world’s architecture.

Overall litecoin remains good sound money with a strong network of miners backing it up. It is, of course, the number one script mined coin which makes it much more difficult to attack litecoin.

 

Litecoin Price

Considering that currently, we see litecoin with around 1/10th of its price that it did have at its all-time high, it does seem to be an interesting investment opportunity but a lot of other cryptocurrencies can say the same thing. Allot of them have seen their values decrease by 80% to 99% so it isn’t the cheapest one in terms of overall losses in the bear market but litecoin does have a lot going forward. It has a very strong community and growing merchant adoption but the real thing that could make litecoin a very interesting investment in 2019 is the litecoin halving. This is when the block reward is going to drop by 50% so all of a sudden litecoin is going to become very rare. When we add that all to merchant adoption and when we see it listed on more and more exchanges, we kind of understand the power of litecoin to continue moving forward in spite of tough market conditions and it does offer a very interesting investment opportunity.

In 2019, we could see some very interesting price movements on litecoin especially we if see an overall market recovery. But the litecoin halving which is around 200 days away could be a real catalyst for the price later in the year.

 

What are your personal thoughts on litecoin and its future potential? Tell us in the comments section below.

Disclaimer: The following article is not financial advice. The readers are advised to do thorough research and analysis before making any investment decisions in the cryptocurrency market.

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#Bitcoin

Expert Take: Cryptocurrency Markets followed Stock Market Crash

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Almost all stocks are in RED as the stock market crashes as DOW Jones also drops 800 points, which is the lowest in the last 8 months. Crypto price analysis

A Black Wednesday for the Stock Market

Almost all stocks are in RED as the stock market crashes as DOW Jones also drops 800 points, which is the lowest in the last 8 months. The sharp sell-off was even greater at the Nasdaq exchange, home to Apple, Amazon, and others. The Nasdaq fell over 4%. Wednesday marked the fifth consecutive daily decline for the S&P 500, the longest losing streak since November 2016.

 

Japan, South Korea & Asia Panic

According to the speculations, the stock markets have crashed decently due to panic in South Korea, Japan & Asia. This panic can also be seen shifting to Cryptocurrency markets as major investors in South Korea and Japan have panicked, and clearly brought in the same sentiment to Bitcoin & other cryptocurrencies.

 

Cryptocurrency Crash – the right time to buy in?

Coinmarketcap charts demonstrate a sharp and sudden sell-off in crypto markets happening at around 18:00 UTC on October 10. At 18:09, the price of bitcoin was sitting at $6,562.28, or, in other words, it had spent the majority of the day. Not as much as after an hour, at 18:54, bitcoin had dove roughly 5% to $6,314.62.

Different cryptocurrencies were hit with price drops around a similar time, albeit most altcoins experienced altogether more awful drops.

ETH dropped 9%, for instance, and XRP dropped 11.25%. Bitcoin Cash dropped 10.85%, EOS lost 7.57%, and Stellar lost 8.85%.

As we go to press, just six digital currencies in the main 100 have picked up over the most recent 24 hours. Aeternity has increased 8.42% throughout the most recent 24 hours, for instance, and right now sits in the #31 position by market top by and large.

It appears to be improbable that the harm will be constrained to Wednesday – in any event in customary money related markets.

Is it right time to buy into Bitcoin and other cryptocurrencies? Give your opinion in the comments section below.

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#Litecoin Price Analysis

Litecoin Latest updates. LTC Price Analysis

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Significant advancements concerning Litecoin have been undertaken recently. On 27 September 2018, CoinText integrated the use of Litecoin along with Dash.

Comprehending features of Litecoin and price analysis.

What is Litecoin?

Charlie Lee the creator of Litecoin, was an ex-Engineer at cryptocurrency exchange, Coinbase. With a sole intention of developing a better cryptocurrency than Bitcoin, Lee went on to initiate a hard fork of Bitcoin, which he termed as Litecoin in 2011. The Litecoin network is relatively faster than the Bitcoin network, regarding transactional confirmation. Litecoin is also regarded as the silver counterpart in the crypto domain, in the same way as Bitcoin was considered, for gold. Especially, Charlie Lee was enchanted by the functionality of Bitcoin, but also realize the importance of altcoins. Therefore, he went on to develop his custom cryptocurrency.

 

Why is Litecoin preferred over other altcoins?

Litecoin is the perfect option for all the traders as well as users, who are looking out for a cryptocurrency with low transaction fees and faster confirmation. The Litecoin network incorporates the Lightning network, along with the Segregated witness mechanisms to provide faster transactional capabilities. Also, the total supply of Litecoin is around 84 million coins, which is precisely four times the total number of coins for Bitcoin. Therefore, it would be easier for the users to choose Litecoin over Bitcoin or any other altcoins.

 

How has the developer protected Litecoin?

Being somewhat centralized, Lee has cited the vulnerabilities and risks involved with his investments in Litecoin. According to him, his immense investments in Litecoin may cause the market fluctuations to wish with FUD used as a catalyst. This scenario can be understood, when the Ethereum network plummeted in billions when rumors that Vitalik Buterin has died in a car crash. To avoid such scenarios in future in case of Litecoin, Lee had decided himself distract from the project. According to sources, in mid-December 2017, Lee liquidated his entire LTC holdings, for the development of Litecoin without any catch.

 

Litecoin’s decentralization is its power

The Litecoin network utilizes 2.5 minutes for the creation of a particular block, whereas Bitcoin requires 10 minutes only. Also, when it comes to the mining capabilities of the cryptocurrency coin, Litecoin has an upper hand as it intelligently incorporates the scrypt mining algorithm. This algorithm allows the cryptocurrency users to mine the coin through their PCs. This is a massive advantage over Bitcoin, as it can only be mined through the ASIC miners. Its instant and almost zero transaction fees were possible, as it was the pioneer in adopting the segregated witness concept.

 

The incorporation of SMS transactions

Significant advancements concerning Litecoin have been undertaken recently. On 27 September 2018, CoinText integrated the use of Litecoin along with Dash, within their new service of undertaking transactions through SMS service. This particular service was predominantly developed for the Bitcoin Cash users, but recently the organization has extended the capabilities to Litecoin and Dash as well. It’s an advantage to Litecoin, as the network is fast enough to resnate with the SMS payment systems.  

 

The Litecoin Summit was a great event in the history of Litecoin

Litecoin network has also remained highly stable in tough times. Even though the cryptocurrency is being continuously criticized, the coin stands rock solid, with its commitment of being democratized all over the world. Also, more recently on 14-15 September 2018, at the South San Francisco Conference Center, the Litecoin Summit was undertaken, which concentrated upon the discussion between various experts, regarding the future and current development of Litecoin. The Summit also revealed the confirmation of supporting Litecoin, on the Gemini exchange by the Winklevoss twins. The Summit was also most anticipated for one of the most awaited Lite.im, which enables the user to transfer of Litecoin through SMS.

 

Let’s try to analyze the price of Litecoin, since July 2018.

June

The price of Litecoin during initial days of June 2018, was $119. However, the coin experienced a significant drop and by the end of the month reached almost $81.

 

July

The price was somewhat consolidated and constant as it was trading around $82, in July.

 

August

$77 was the initial price of Litecoin and as weeks passed by, the price kept falling and reached the All Time Low of the respective month, with the price being $53.

 

September

Even the month of September has been not volatile, as the prices were hovering around $60.

 

October

Currently, the price of Litecoin is around $57 as of 7th October.

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