The Litecoin price has been under intense pressure lately, and, as I will describe below, the situation could get worse...
Litecoin
What is Litecoin?
Litecoin is an open-source, peer-to-peer cryptocurrency created in 2011, two years after bitcoin, by a former Google engineer, Charlie Lee. Litecoin’s native token is LTC.
In the early stages, Litecoin was a bitcoin contender, but the cryptocurrency market has become very crowded over the years, making litecoin’s popularity diminish.
Litecoin is the sixteenth largest cryptocurrency measured by market capitalization.
Since the launch of Litecoin by Lee, it has always been viewed as a rival to bitcoin, and he even called it the “ lite version of Bitcoin,” hence the many similarities while adapting and changing aspects the team felt could be changed.
Is litecoin a good investment?
Litecoin is not a good investment for long-term investors looking for cryptos that will rise in value over time; however, it can be an excellent asset to trade for short-term traders looking to profit from periodic price swings.
How to trade Litecoin
The price of one Litecoin is usually quoted against the USD when buying Litecoin on an exchange. Hence, you are always selling USD to buy Litecoin. If the price of litecoin rises and you decide to sell, you will be making a profit because its price is higher when measured in USD, but if the opposite happens, you make a loss.
Litecoin Latest news
The Litecoin price darted higher on Friday as investors waited for the upcoming US jobs numbers. The coin rose to...
Litecoin price has eased after plummeting earlier in the day. The trend observed in the crypto is comparable to that...
The Litecoin price recovery from last week’s crash is looking vulnerable, and the failure to reclaim $200 may be setting...
After rumours broke that Walmart would start accepting Litecoin at all its eCommerce stores from October 1, the company has...
Litecoin price remains buoyed above the support level of 170, as has been the case for more than a week...
Still smarting from last week’s drop, Litecoin prices have plummeted this Monday. This slump comes as a result of the...
The Litecoin price has struggled this month and is currently 35% below the September high. However, LTC is starting to...
Litecoin price is trading within a tight range after declining from Monday’s high. According to CoinMarketCap, its market cap has...
The Litecoin price weathered the storm late last month, recovering from a critical support level which opens the door to...