The Situation with the Silver Coin, Litecoin

The last week has been rude for the value of cryptocurrencies, suffering falls and rises in intervals of a few hours; Litecoin is not the exception, in fact, it has been one of the most impacted.

It currently maintains its position as the fifth virtual currency with the highest quote and flow, according to CoinMarketCap. The situation with Litecoin is due to two cases, one general cryptocurrency and another particular.

General situation
According to Milan Koch, co-founder and CEO of the AlphaBlock platform, an institution focused on ICOs, explains that the recent bifurcations of the virtual currency market were caused by a time of collection of profits, in which traders and experts possessing currency cripto they began to change them, with the objective of having liquidity. What happened was that the market was flooded and prices fell.

The reason that prices did not fall drastically, according to Ryan Rabaglia, sales manager at Octagon, raises the idea that, quoting, "there will always be investors buying", commenting that there is currently a large number of investors buying assets and protecting them, avoiding I fluctuated the currencies in a volatile way.

Particular situation, Litecoin Cash
This month, the Litecoin and Litecoin Cash clash occurred, two cryptocurrencies that declare to be independent of one another, but their beginnings had enough friction.To understand, Litecoin Cash emerged as a new cryptocurrency that wanted to use the same technology as Litecoin, even the founding company Litecoin Cash Foundation announced that they were detached from it; which Charlie Lee, founder and creator of LiteCoin, replied that it was a scam.

In the end, if Litecoin Cash was created with active buyers, with an exchange rate 1 LTC = 10 LCC, that is, 1 Litecoin equals 10 Litecoin Cash. The friction happens that there are doubts on the part of the investors of both firms, suspecting the words of Lee.