Why Is Litecoin an Attractive Investment Asset? However, the reality is that Litecoin users will have to wait up to about 30 minutes for their transaction to be processed due to network congestion.
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Litecoin differs from Bitcoin in the prioritization of the transaction confirmation rate, which is approximately 2.5 minutes per block. Developers have always stated that you can consider Litecoin to be the silver version of Bitcoin. Lee's goal was to create a light version of Bitcoin with Litecoin. On October 13, 2011, 5 days later, the Litecoin network went live. Litecoin was released via an open-source client on GitHub on October 7, 2011. Furthermore, it also differs in hard caps, block transaction times, and some other factors. The cryptocurrency was created based on the Bitcoin protocol but differs in terms of the hash algorithm used. Litecoin was created by a former Google employee, Charlie Lee, in 2011. The processing in question usually takes place via online exchanges (cryptocurrency exchanges). Litecoin can be exchanged for Bitcoin and fiat money. Litecoin is created on the basis of a cryptological hash function, which in turn generates blocks. With this in mind, all transactions, balances, and expenses are managed by a peer-to-peer network. Litecoin production and transmission are based on an open-source encryption protocol. Technically, the Litecoin project is very similar to the Bitcoin system. Litecoin ( LTC) is a so-called digital peer-to-peer currency integrated into open-source software. How Has the Price of Litecoin Changed Over Time?.Long-Term Litecoin Price Prediction: 2025-2030.Weekly Elliott wave Litecoin analysis as of.Litecoin Price Predictions for 2021 by Crypto Experts.Why Is Litecoin an Attractive Investment Asset?.The article covers the following subjects: Will the price of Litecoin go up this year and in the years to come? Let's find out!
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Lastly, the concerns in the United States for higher capital gains taxes played a role in the financial industry.Īs for the long-term Litecoin prediction, the outlook suggests that Litecoin has potential. It could have been seen that due to the fast growth of the LTC, the coin would have declines. In general, similar and close currencies have tight correlations. Similar to other cryptocurrencies, one of the big reasons for such a fall is the overall weakness of Bitcoin.
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From the period between May 10th and 23rd, it declined by 63.26%. After it hit the $400 level, the coin started dropping. From December 31st, 2020, to May 9th of this year, the price rose by 211%. Its price started at about $3 per LTC and has gone through a number of bubble cycles or "alt seasons."Įventually, Litecoin closed 2020 at $124.69 (on CoinMarketCap).
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The Litecoin price has been through a lot from its launch – going up and down. In 2021, LTC showed very fast growth till May however, due to some external factors, the situation significantly changed. We might be correcting a little bit more but after such a heavy correction, as it has been doing here, the Bitcoin pair shows a period where we could be starting to have a reversal.Īnd as you know, December is often a beautiful period for altcoins.Litecoin cryptocurrency was up by more than 140% in 2020. Van de Poppe highlights that Litecoin tends to ignite rallies at the start of the year as seen in Q1 of 2015 and the first quarters of 2017 to 2020.Īnother coin on the trader’s list is Cosmos, a project dubbed as “the internet of blockchains.” According to Van de Poppe, Cosmos may be at the end of its corrective move against Bitcoin (ATOM/BTC) as it finds support at 0.00041 BTC ($23.65). And when we go back in history and we create such a higher low, it is an argument to start running.Īnd back in history, we also know that in the first quarter of the year, Litecoin does really well.” “Even Litecoin might be a great one at this point as we are seeking for a higher low to be taking place.