Litecoin (LTC) – When considering the futuristic tendencies of a crypto coin, it is pertinent to take a look back at the previous milestones and forge a decision on what the future holds for it. This practice is valid but it is also pertinent to realize that the volatile market can sometimes be tricky with a directional movement in a negative way.
Litecoin (LTC), the P2P cryptocurrency, and the “Silver to Bitcoin’s (BTC) Gold” is getting ready for the bulls, and three factors are propelling the move.
Tagging with Bitcoin (BTC) is about to pay off
Despite the diversification in the crypto sphere that led to the launch of 2,068 crypto coins, Bitcoin (BTC), the pioneer digital asset, still maintains control of the market. At the moment, it dominates the market by 52.6% and leads with a market cap of $63,714,612,487 USD.
There are hopes that the value will be on the increase anytime within the year. For Litecoin (LTC), as well as other crypto coins that are “tied” to Bitcoin (BTC), it could also mean an increase in their value. It is worth noting that LTC was a fork of Bitcoin (BTC) and provides the latter’s functions at a faster pace.
In the light that Bitcoin (BTC) shoots for the moon, Litecoin (LTC) will be trailing, and there is no denying the fact that it stands the chance of benefitting – because of the faster transaction rate and low costs.
Overselling – An Opening for Litecoin (LTC)’s Bulls to make a return
In the crypto sphere, investors basically have their eyes on three areas – FOMO, FUB, and HODL.
The Fear of Missing out (FOMO) becomes the case when the price surges. Investors will like to make a buy before this period in order to gain from the massive returns. In the event that the market lacks direction for some moments, investors start Holding on to Dear Life (HODL). When the bears dominate and the whales start having a field day, it creates the feeling of Fear, Uncertainty, and Doubt (FUD).
For the latter, the massive dominance of the red in the crypto table triggered massive sales of the LTC coin. A common notion in the crypto-sphere asserts that soon after massive sales of a crypto coin, the value of the coin tends to bounce back; especially when the bulls start coming back. As it stands, the bulls are outside the ring, waiting for the opportunity to deal the bears with a sucker punch. In the light of this occurrence, Litecoin’s (LTC) value will certainly make a rebound.
Adoptions as a Bullish Trend
The current wave in the crypto community is collaborations and massive use of cryptocurrencies. In spite of the fact that top coins such as Ethereum (ETH) and Ripple’s XRP are leading the fray, Litecoin (LTC) stands a fair chance to profit from this factor.
Also, the recent swift movement of Litecoin up the market ladder has made many aver that the altcoin is the fastest growing coins amongst the top ten in 2019, and Litecoin (LTC) is certainly living up to the billings.
The Bulls are Returning
As the year inches closer to the end of the first quarter, hopes are still not lost in the positive tidings that await investors in the crypto-sphere. Litecoin (LTC) is hoping to make a breakthrough before the end of the first quarter of 2019.