3 Reasons Litecoin (LTC) Rebound in 2019 is not Dead
Surviving the altcoin apocalypse is a factor that induces Litecoin (LTC)’s quest to keep fighting until it makes a resounding comeback. It’s not a good idea to write off a crypto coin, especially in the face of bearish trends when all things tend to go haywire. It’s quarter two already and Litecoin (LTC) lovers might be wondering about the future of the coin. Before you give a thought to trading it off, consider the three (3) reasons that can pull the coin back into the race.
1. Litecoin (LTC) Draws Strength from Bitcoin (BTC)
Interesting scenarios played out in the crypto-sphere in months past. While Ripple’s XRP and Ethereum (ETH) competed against one another for the number 2 spot, Bitcoin (BTC) sat comfortably at number 1 watching over the interesting scenes playing out in the crypto-sphere.
Such has been the case for a decade since its acceleration to the enviable position of the first cryptocurrency by market capitalization. Now, Litecoin (LTC), an alternative crypto coin (altcoin), draws inspiration from Bitcoin (BTC).
Often placed side-by-side with the number 1 coin, Litecoin (LTC) continues to assert itself as a different form of Bitcoin (BTC). The quicker block processing time and low fees help it to draw strength from the popularity of Bitcoin (BTC0. Moreover, the Lighting Network and Atomic Swaps enhance transactions over the Litecoin (LTC) network.
Although it doesn’t rank as the first cryptocurrency by market capitalization, Litecoin (LTC) has a large amount of utility, which is an important factor that helps the value of every cryptocurrency. There are reports that the coin is currently oversold. If true, this can trigger panic buying, this, in turn, facilitates an increment in its value. As financial experts posit, when an asset goes into an oversold zone, the value of such an asset tends to rise after some time.
3. Interest among Centralized Authorities
Centralized institutions such as banks are already taking an interest in the use of cryptocurrencies to facilitate transactions. Considering Litecoin (LTC)’s liquidity, the transaction speed, and decentralized approach, the coin stands a better chance when centralized authorities decide on adopting decentralized currencies (cryptocurrencies) for day-to-day truncations.
Litecoin (LTC) is not Dead
Challenges do come and go. Although Litecoin (LTC) lost ground, the coin won’t stay there for long before making a rebound. The liquidity, proposed adoption by centralized institutions and compatibility with Bitcoin (BTC) are factors that can send its value back to the green in no time.