Litecoin Will Grow for Sure but Buying at Lowest Price Point is not PracticableNovember 20, 2019
The technology and the community behind Litecoin make it a good investment. People are not able to appreciate the technology part of the Litecoin. Everything about Litecoin transfers well on to Bitcoin. Sending money with Litecoin is easier and cheaper. The 2-minute block time makes it convenient for use. The Lightening Network Engineering is particularly useful in the process.
Several investors like holding and transacting with Litecoin because of the ease in the transaction and the fees and the block time. Some of them are not happy when they are not able to see Litecoin as an option they can use to pay even if they are willing to pay the premium. Several investors are trying to buy Litecoin at the lowest price point; however, that is not easy. Litecoin for sure will grow.
Litecoin is considered to be an excellent option to invest in. Litecoin fulfills the criteria required by an investor willing to choose a cryptocurrency. Those who are eager to hold cryptocurrency for a long term usually contemplate on whether they need to hold Litecoin or Bitcoin.
And like any wise investment idea, it is not a good idea to hold all of one’s eggs in a single basket, in case something unforeseen happens. The trend is to hold some BTC, some LTC, some Ripple, and some Ethereum. Some opine that Litecoin is suitable for small investors. Litecoin is set to produce 84 million coins, and Bitcoin is set to produce 21 million coins.
Litecoin Summit 2019 took place in The Cosmopolitan of Las Vegas. Superior fundamentals, like worldwide adoption, were discussed in the event. Several investors who are new to the cryptocurrency market are not sure of how the market works and the direction in which the market is heading. Those who are new to the cryptocurrency market feel like there is nothing new going in in the market. To get an understanding of the existing trends, investors should take notice of the partnerships associated with the foundation.
MimbleWimble has been touting itself as a cryptocurrency being privacy-focused. Ivan Bogatyy, a researcher at Dragonfly Capital Partners, exposed the chilling vulnerabilities regarding MimbleWimble and the GRIN cryptocurrency. Charlie Lee, The Litecoin CEO, recently defended MimbleWimble versus privacy criticisms. The Scathing account of how MimbleWimble works declare that it is not suitable for privacy.
The price of the Litecoin is currently consolidating above the $55.00 support area. The RSI indicator has been trending around $44.25. The LTC/USD consolidated in a flag formation and is all primed up for a breakout.