Cryptocurrency investments #1 Litecoin
Most of you, who are active in cryptocurrency community, heard about Litecoin. It is one the most popular cryptocurrency ranking 5 position in coinmarketcap. After the last pump in 2015 Litecoin was on bearish market but Bitcoin scalability debate and concensus issues gave a new to Litecoin. In 2017 bearish trend was finally broken and now we can compare LTC situation to Bitcoin in 2011. LTC is just starting its movement upwards. We should expect higher highs and higher lows in the future. New money are flowing into crypturrency market everyday, especially, after Japan made legal decisions regarding cryptocurrencies and Bitcoin. Litecoin will inevitably get more attention from the investors thus price of it will rise in consequence.
Preconditions of LTC price rise
1. SegWit activation was a trigger for recent LTC move upwards but it was just a start and not the end of the move.
2. Litecoin Roadmap for 2017: https://litecoincore.org
3. Litecoin Foundation focusing on development. The most important thing is plans to hire full time developers to work on Litecoin Core.
4. Bitcoin scalability issues and rising TX fees will lead to other options for cryptocurrency payment solutions.
5. Some services could consider Litecoin as payment option because of skyrocketing BTC TX fees:
https://twitter.com/paullinator/status/864677019128287232
Considering all features mentioned above and having in mind that all ecosystem of crypto space is growing, we should confirm that Litecoin is an option for long term investment. I'm sure that it is just a start of uptrend like was with BTC in 2011. You should be strong to HODL your LTC.
DISCLAIMER
*Information mentioned above is based on my own analysis and it shouldn't be treated as investment advice.
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BTC: 16arVzWLvRvRTXr2DUK3U2m3nb6EE1M2CH
LTC: LW8gygmtAPjA2FMcN3Gg87Cg4vo2HWPHXv
ETH: 0xe56FbB1677903D58A761687393D111dB6761756E
DASH: XxSaMoKjx34dkxtTwHjiuD82bPLv7PogWz
DOGE: DF5DrhiquRGzZirVzRz7qRsAoMy8sWAFW5
You should give this advice when LTC was at $4 but thank you.
Yes, but now everyone thinks that LTC is done but we are in a similar situation BTC was in 2011. Just check charts and you will understand where we are now in LTC narrative.
Disclaimer: I am just a bot trying to be helpful.
In my opinion Bitcoin will fail. Can you trust a currency that is reliant on vulnerable technology?? With the creation of a number of new competing cryptocurrencies being developed and eventually diluting the market. If a cyber attack occurred would your Bitcoin be safe. Would you intrust thousands of dollars to the system? How long before Government infiltrate this technology and causes it to fail? Why would Government do that? Because central banks will not tolerate a currency that they do not have complete control over, thats why. If they cause a failure in the system, then people will lose confidence in them, unless of course the federal government comes to the rescue and offers to insure the currency FDICA baby. Look what they did to Precious metals. The feds found a way to manipulate it and fix it. The banks simply print and sell enough paper contracts to dilute the market. Some say that there are up to 200 hundred paper contracts per ounce of gold. The silver and gold markets are easily moved by the simple push of a computer key. They must regulate it in order to keep the value of the dollar intact. The same is true with cryto. If they let the market run, paper currencies would diminish in value. Is it possible that the cryptocurrency was ordained by the central banks as a trail to see if people would buy into this type of monetary system? But for now enjoy the wealth it has created, just don't think they will let the party continue.
I agree with most you said but I think we should find a way to avoid absolute governement control. I don't like BTC as it is concentrated in miner hands. They are profiting from a high TX fees. Bitcoin will fail in long run as now we are experiencing bubble of unwise Japanese investors. It will crash soon but altcoins will continue to get more attention. You can't stop technology, even governements with absolute control.
Good luck. I have to say I am impressed with BC and I love the fact that it is not regulated. Big brother always kicks over the blocks after you stacked them so neatly .