Litecoin isn't done yet and here are the reasons why!
Litecoin is superior to Bitcoin right now! Having gone through Segwit and implementing Lightning already, we know that Litecoin can handle both, larger and smaller transactions, quickly and cheaply. Just because market cap and price suggest differently doesn't mean that Bitcoin is better than Litecoin.
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Charlie Lee is the inventor of Litecoin. After Charlie created Litecoin, he was instantly an all star in the Cryptocurrency world. Now he is back to working on Litecoin projects after leaving his position as head of Coinbase. He must believe Litecoin is going to do great things in the near future and he doesn't want to miss out on his baby growing up!
Bitcoin is going through a few tough dilemmas at this time and it is making some investors a little worried. With the developers working on Segwit and the miners potentially creating a fork in Bitcoin coming up in August, there certain are concerns out there. This is making investors second guess if they want to be in Bitcoin at this time or not. This has some investors thinking they should diversify to other cryptocurrencies.
Looking at the charts and small market cap size, litecoin also looks like the most bullish Cryptocurrency out there!
This will not only bring in day and short term traders, but long term traders as well. Litecoin has a great looking bull flag pattern going on here! The pattern looks like it's ramping up to break all time highs! It has also been consistently staying above it's moving averages.
Litecoin has tested time and proof of work being around 6 years, nearly as long as Bitcoin. It's about 20x smaller than Bitcoin, so it has plenty of market cap room too take away from the other two big cryptos, Bitcoin and Ethereum.
New all time highs are in Litecoin's future that is certain! How high we go is anyone's guess. But because of the facts I listed above, I believe litecoin has quite a lot of room to run. Keep an eye on litecoin as it can make huge gains quickly. If things start to get a little shaky with Bitcoin and it's future, Litecoin might do even better.
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Great post! I love the idea of Litecoin and think it's slightly undervalued at present. My question to you is what do you think will happen to Litcoin in August with Bitcoin's segwit 2x?
In LTC we trust
Nice post @austinsandersco. I like Litecoin.
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I think Litecoin is a sleeping giant with a ton of potential.
Charlie Lee is a brilliant engineer and is now back putting his full time focus on the coin. It's faster for transactions and has a strong leader at the helm.
I think the only reason Litecoin was so overlooked was because Charlie isn't out their promoting his coin like other crypto-celebs. He quietly works away and does what he is best at.
I think Litecoin is set for a major break out next year.
Thanks Austin, I just picked up 6 more Litecoin. Can anyone recommend a good wallet while I wait until September for my ledger nano S to arrive?
I did a post recently on cryptocurrency wallet options... https://steemit.com/cryptocurrency/@deanoza/for-beginners-cryptocurrency-wallets-and-security
The ledger nano s is a great cold storage product, but you may want to keep small amounts in hot wallets for transacting purposes
Litecoin has serious potential, also it is likely to be the first coin with lighting network integration. Even Segwit optimisations is not enough to handle high volumes of transactions. Im talking mass market adoption here.. However something like lighting can change all of that.
And other explanations for LTC price increase
https://steemit.com/litecoin/@davebrewer/s1e3-of-nypn-bitcoin-and-litecoin-price-increases-explained-by-rising-tensions-between-the-us-and-north-korea
Interesting article. Same mindset here. The price of a coin should depend on the quality of the product, the team behind it, if proffesional investors believe in it, and a lot more facets. This is quite an interesting website I found: https://www.coincheckup.com This site did all the research for you. It's truly amazing. See: https://www.coincheckup.com/coins/Litecoin#analysis For the Litecoin Investment research report.