Litecoin Outperforms Top-10 Cryptos Ahead of August Reward Halving

Litecoin Outperforms Top-10 Cryptos Ahead of August Reward Halving

                                

With the supply of new coins to be halved in less than five weeks,

litecoin is outpacing its peers. The fourth-largest cryptocurrency by market capitalization is currently trading at $123, representing 5 percent gains on a seven-day basis, according to data source CoinMarketCap. Meanwhile, bitcoin, the top cryptocurrency by market value, is currently reporting a meager 1 percent gain on a weekly basis. Other top-10 cryptocurrencies are trading mixed as seen in the table below.

  • Cardano, down 10 percent, is the worst performing top-10 cryptocurrency over the last seven days.
  • ETH, XRP, BCH, and EOS are flashing red.
  • Binance coin is up a staggering 481 percent on a year-to-date basis, followed by litecoin, up 305 percent.

Litecoin’s recent relatively shining performance could be associated with the mining reward halving due on Aug. 6 this year. The process is aimed at curbing inflation by reducing the coins paid out for mining on litecoin’s blockchain by half. So, after Aug. 6, miners will get 12.5 coins for every block mined – down 50 percent from the current reward of 25 coins. Essentially, miners will be adding fewer coins to the ecosystem, likely leading to less in circulation. The impending supply cut might have helped LTC outperform its peers in the last seven days. While it is logical to expect the cryptocurrency to rise further in the run-up to the event, the upside looks limited. After all, LTC has already witnessed phenomenal growth in both price and non-price metrics so far this year, and is currently up more than 300 percent on a year-to-date basis.

Meanwhile, litecoin’s hash rate, or computing power dedicated to mining, rose to a record high of 468.1019 TH/s this week. Notably, the metric is currently up 220 percent from the low of 146.2118 TH/s seen in December. All-in-all, the market may have largely priced in the reward halving already. In fact, if history is a guide, the probability of LTC witnessing a sharp pullback in the run-up to the Aug. 6 event is high. It is worth noting that LTC had nosedived from $8.72 to $2.55 in 6.5-weeks leading up to the previous reward halving, which took place on Aug. 25, 2015. Technical charts are also signaling scope for a near-term price drop.

While the bullish higher lows, higher highs pattern is intact, the relative strength index (RSI) is reporting a bearish divergence and the 5- and 10-candle moving averages have produced a bearish crossover. As a result, the price risks falling to the 200-candle MA, currently at $221. A violation there would expose the 50-candle MA, currently at $83.00. On the higher side, a high-volume break above $140 is needed to expose the next major resistance lined up at $182 (May 2018 high).

Article Produced By
Michael Williamson

https://www.icogeeker.com/litecoin-outperforms-top-10-cryptos-ahead-of-august-reward-halving/

Best Places To Buy Litecoin in 2019

Best Places To Buy Litecoin in 2019

                               

Litecoin is a cryptocurrency in focus.

The fifth-ranked cryptocurrency has been on a bullish run since the start of 2019. By the time of writing this article, Litecoin was trading at $135.60 with a market capitalization of $8,458,349,031. The rising value of Litecoin can be tied to the upcoming August halving. In most cases, digital assets usually perform better towards the halving event. In the forthcoming halving event, Litecoin’s miner rewards will decrease by half from 25LTC to 12.5LTC. Litecoin’s halving usually occurs every four years after 840,000 LTC blocks. This means that we have pressure on the price due to the impending Litecoin supply drop. Technically, Litecoin has similarities with Bitcoin. However, Litecoin is quicker and cheaper. Developers designed Litecoin as a ???r-t?-???r ?r??t??urr?n?? ?nd open ??ur?? software project. Since Litecoin is a perfect cryptocurrency for investment, there are places where you can purchase the asset.

Binance

Binance is among the leading and fast-growing cryptocurrency exchanges around. The exchange offers support for several cryptocurrencies, including Litecoin. Other popular assets on the platform include Bitcoin and Ethereum. To buy Litecoin on Binance, you need to create an account with the platform first. The registration is straightforward, and you need your email, username, and a strong password. You can create the account through the website or the mobile application available on Android and iOS devices.

With an activated account, you need to deposit funds so that you can buy Litecoin. Binance allows users to deposit funds using Mastercard and Visa credit/debit cards. You will then be required to enter the purchase amount of Litecoin. You can pay using the US dollar or Euro. Note that cryptocurrency purchases by credit card are limited to BTC, ETH, and LTC. This process takes between 10-30 minutes. For more on this process, read our guide here. You can also deposit by sending funds from a separate cryptocurrency wallet into your Binance account. You will then place a trade which you can exchange with Litecoin. Binance offers a 50% discount for day traders if they use BNB coins. Binance Coin is the native asset of the exchange that powers activities. You will enjoy a unique fee structure like the 0.1% standard trading charge. This fee can be reduced further if you pay your trading charges in BNB.

Coinbase

Coinbase is the most popular cryptocurrency exchange with a good user base. This American based exchange supports the buying of Bitcoin, Ethereum, and Litecoin. Just like Binance, Coinbae allows users to purchase Litecoin using Visa/MasterCard credit and debit cards. Buying Litecoin on Coinbase is a straightforward process provided that the exchange is available in your country. At the moment, Coinbase is available in about 30 countries.

To get started, you need to create an account with Coinbase. You will verify your account through ID authentication and navigate to the payment methods page. Add your payment method and select the debit/credit card. You will then log into your card’s account and note the amount of those transactions. Lastly, enter the amounts transacted into Coinbase. From here, you will see a window “Credit/Debit Card Added” and a Buy Digital Currency button. You can buy Litecoin, using the Buy/Sell page through your card. To purchase Litecoin, go to the Buy/Sell tab and enter the amount. You will then select a card from the payment method’s drop-down menu. Lastly, confirm the order is correct and click Complete Buy. You will then have your Litecoin in your Coinbase wallet.

Kraken

Kraken is among the oldest cryptocurrency exchanges from the United States. The platform’s services are also available in Europe. The exchange supports Litecoin, Bitcoin, Ethereum, Monero, among others. To buy Litecoin on the exchange, you can first deposit funds through the five supported five fiat currencies i.e., USD, GBP, JPY, EUR, and CAD. You can deposit the funds through SEPA or wire transfer at a fee. However, Canada domestic wire transfers are free. You can check all deposit fees here. The exchange is working towards enabling deposit through credit and debit card. It is essential to bear in mind that all deposits are based on your account level. In most cases, the Kraken account verification process usually takes some time. Additionally, wire transfers can take between 1 to 2 days. Although CAD wire processing is typically 1-2 business days, the exchange gives an allowance of up to 5 business days for funds to settle. This is due to traditional processing speed outside of Kraken’s control. Kraken has the two-factor authentication feature; email supports a master key for recovery.

KuCoin

KuCoin is another leading cryptocurrency exchange with a wide range of supported assets. The platform supports Bitcoin, Ethereum, Litecoin, among other assets. Popular stable coins on the platform are USDT, USDC, TUSD, PAX, and DAI. The exchange has also issued its own token called KuCoin Shares (KCS). To buy Litecoin, you need to create an account and undergo all the verification processes. Recently, KuCoin partnered with Simplex to re-enable users to purchase cryptocurrencies using Visa and MasterCard credit cards. You can purchase Litecoin, Bitcoin, Ethereum, and XRP with both USD and EUR. You can buy Litecoin through trading other assets. The most suitable cryptocurrencies to deposit are Bitcoin and Ethereum. They both have trading pairs with the vast majority of cryptocurrencies, including Litecoin. To make your deposit, go to the navigation bar at the top of the website and click Assets then Deposit and select Bitcoin or Ethereum. KuCoin will provide you with a deposit address for the cryptocurrency you selected. Copy the address and send the amount from your preferred wallet. Once the deposit has been confirmed, the amount will display in your deposit section.

In the next stage, you will need to place a Litecoin order. For example, if you deposited Bitcoin, you will select the BTC market and search for LTC. The LTC/BTC trading pair should appear. After clicking on the trading pair, a price chart will appear. You can place your buy order on the right side of the chart. Note that to proceed with your order, you’ll have to insert your six-digit trading PIN password. If you want to buy LTC when it reaches a specific price, use the Limit order. If you’re going to buy LTC at its current rate, click on the Market tab and enter the amount of LTC you wish to purchase. The order should be executed instantly. Note that if you’re planning to trade different cryptocurrencies, purchase some KuCoin Shares first. With the shares, you will get some benefits like a 30% trading fee discount in addition to an award incentive bonus.

Conclusion

Litecoin is a cryptocurrency worth investing in. The bullish run means that the asset is attracting more investors. There are various ways of buying Litecoin. However, the highlighted exchanges are ideal for buying Litecoin. The exchanges come with a sense of reliability and security as they have a good reputation in the market. However, it is essential to note that storing Litecoin in an exchange wallet can be very risky. These wallets are susceptible to hacking. It is advisable to store your assets in a cold wallet.

Article Produced By
Amisi Paul

https://zerocrypted.com/best-places-to-buy-litecoin-in-2019/

Litecoin (LTC) Price Analysis and Prediction 2019 – Hanging Around, Doing Nothing, Waiting For Bitcoin Move

Litecoin (LTC) Price Analysis and Prediction 2019 – Hanging Around, Doing Nothing, Waiting For Bitcoin Move

                                

4H LTCBTC

LTC is resting Fib618 level at 0.0114BTC, right below an intersection of EMA20 and MA50 after it got rejected at Fib50 (December lows – April high) at 0.0129 BTC. LTC is right at the breakdown level – Fib618 at 0.0114 BTC and if LTC fails to defend it, it would probably dip to the Fib786 at 945k sats. Breakout level is in the zone of two Fibonacci382 levels (April high – May low) at around 0.0140-0.0143 BTC. Smashing this level would see LTC reach 0.0159 BTC or even higher (0.017 BTC). Moving averages are aligned in descending order so a leg down is more likely than a leg up.

Daily LTCBTC

LTC needs to break 0.0123 BTC zone to enter an intermediate bull market on the daily chart. This level is a converging point for EMA20 and descending trendline that started back from April highs. MA200 is right below the price action and should serve as a support should LTC keep this correction phase.

LTCUSD

Due to the BTC’s slump, LTC lost some of its USD value. It is still, however, hanging around the support at $84-89 on EMA20 and Fib236 level. Failing to sustain this level could see us stoop to $78 or even a local bottom of $65 (in case bitcoin drops heavily and drags the whole market with itself). A surge up would mean a re-test of the $107 resistance. One bullish scenario that could play out for LTC in the upcoming days is the formation of a bullish pennant pattern. Considering that there is less than 100 days until the LTC halving, this could be the ideal time to long litecoin.

One thing to bear in mind is the turbulent and erratic nature of bitcoin – a sudden thrust up or slide down is always on the cards which would invalidate this and all other analysis and predictions. In such cases, market is shaken up with most traders exiting altcoins and entering bitcoin positions or seeking shelter in stablecoins, especially in the initial phases of bitcoin pumps and dumps. So it is always a good idea to keep a close eye on bitcoin’s behaviour before opening a long or a short on any other coin in the market. Should this happen, stop by again to check out our updated charts and thoughts. Trading volume is big but questionable – reported volume in the last 24hrs is $3.1 b and “Real 10” (trading volume on the exchanges that provably prevent wash trading) volume is of course much lower – $85 million. This means that LTC’s liquidity is highly inflated and overstated by whopping 37x.

Moreover, LTC comparatively has a solid buy support, according to coinmarketbook.cc. Buy support is measuring sum of buy orders at 10% distance from the highest bid price. This way we can eliminate fake buy walls and whale manipulation and see the real interest of the market in a certain coin. LTC currently has a sound $19m of buy orders measured with this method, which sets LTC buy support/market cap ratio at 0.43%, a slightly above average value. Bitcoin and Ethereum have a 0.27% and 0.28% ratios, respectively. This novel metric indicates there are a lot of manipulations, inflated liquidity and fake orders on all crypto trading pairs, including LTC pairs.

Social Metrics

Litecoin’s sentiment score, measured by the market analytics firm Predicoin, paints a neutral picture. Predicoin wraps its analysis up into a single simple indicator known as the SentScore, which is formed from

the combination of five different verticals:

  1. News
  2. Social Media
  3. Buzz
  4. Technical Analysis
  5. Fundamentals

Interpreting the SentScore’s scale:

  • 0 to 2.5: very negative
  • 2.5 to 4.0: somewhat negative zone
  • 4.0 to 6.0: neutral zone
  • 6.0 to 7.5: somewhat positive zone
  • 7.5 to 10: very positive

Litecoin currently has a Sentscore of 4.9, a significant drop from the 6.5 it had back on April 10th. Overall, Predicoin’s Sentscore is an excellent indicator of community interest and can provide useful insight into which coins are trending right now. Litecoin is obviously not one of them.

Mid May Update: Fundamentals

To assess fundamental health of a project, we used the FCAS metric. FCAS is a comparative metric whose score is derived from the interactivity between primary project lifecycle fundamentals: User Activity, Developer Behavior, and Market Maturity.

There are a few sub components which provide data to each fundamental:

User Activity is comprised of Project Utilization and Network Activity
Developer Behavior is comprised of Code Changes, Code Improvement and Community Involvement
Market Maturity is comprised of Liquidity and Market Risk. Market Maturity has less than 5% impact on a project’s overall FCAS.

FCAS ratings are on a 0-1000 point scale with a corresponding letter grade. Break points are based on standard deviations in the underlying component distributions. 900 – 1000 is marked as S for superb. 750 – 899 is marked as A for attractive. 650 – 749 is marked as B for basic. 500 – 649 is marked as C for caution. And finally, below 500 is marked as fragile.

Litecoin has been ranked as the B category – basic with overall 746 points as of May 7th. By far the strongest metric that contributed to this great score is user activity that got 901 points, followed by market maturity with 769 and user activity that had only 624 points. This is a data backed claim that litecoin is not that great off fundamentally, especially its development side.

Below are some of the most important news around the project in the last 30 days.

  • One particular happening heats the hopes of LTC holders as a potential instigator of a larger scale bull run. That is halvening or halving, bound to happen in August. Litecoin’s second block reward halving will take place in less than 4 months, with the reward for each block reduced from 25 LTC to 12.5 LTC.
    Historically speaking, halvings have been a big deal, for both bitcoin and litecoin. The halving day does not immediately impact the price of Litecoin. Instead, the effects are felt sometimes months ahead, followed by a surge in price in the following months.
  • TD Ameritrade is a popular broker for trading traditional financial assets and has already made its entry into the cryptocurrency industry. The electronic trading platform is among the backers of an upcoming cryptocurrency exchange called ErisX. ErisX is an exchange that is targeting institutional investors. The platform will offer investors the ability to trade the cryptocurrencies Bitcoin (BTC), Litecoin (LTC) and Ethereum (ETH) on spot and futures markets.

Below is our long-term forecast where we cover general market movements and sentiment shifts before delving deeper into the specific predictions for LTC. Litecoin was created back on 7th Oct 2011 by Charlie Lee, an ex-Google employee, who quit working in order to focus on Litecoin full time. Charlie is very active on Twitter. You can read his blog here. Litecoin was designed to complement Bitcoin by solving issues like transaction timings and concentrated mining pools.

Will Litecoin Survive Beyond 2019

Litecoin [LTC] is one of the coins that suffered biggest hit by the bear market. The overall market cap has dropped below $2.5 billion and seems the shedding is not over yet. It is a well known fact that Charlie Lee sold at the peak of LTC price and tweeted a very good advice to the rest of the holders: On December 12th, 2017, Charlie Lee sent out a tweet telling people not to get too excited with the unsustainable bull run. Charlie warned about the pending multi-year bear market and that anyone who could not handle Litecoin (LTC) dropping to $20 should not buy it. While many attacked him as a FUD instigator, his reasons for making these assertions were rock solid and since LTC is now hovering just aboe $30. Charlie explained that every time the crypto market rises up too fast, it overshoots its real value, which leads to a huge correction, and a price consolidation. Charlie’s predictions have come true.

Charlie is not active in LTC for quite some time – it has been years since he contributed to the development of the once second largest cryptocurrency, that is now ranked at number 7 on CMC rankings. Being dubbed the silver to Bitcoin’s gold, Litecoin was introduced in 2011 as a quick fix that was supposed to solve some problems typical of Bitcoin. With new projects flooding the market in the recent years, Litecoin’s role seems to be thing of a past – LTC is the odd man out and nobody can bring about a solid argumentation for Litecoin’s purpose in the future. And the reason I think Litecoin is dead is not because of its price – it dropped together with the whole market and not by its own fault. The reason is lack of unique value proposition – it is just blunt copy of bitcoin with couple of parameters changed. It was that back in 2011 and it is that still in 2018. This lack of vision and will for separation from bitcoin and creation of your own niche will cost Litecoin its existence.

Litecoin can do everything Bitcoin can and it is often called a testnet for bitcoin. But who needs a multi-billion testnet – who needs two identical projects as one is enough and this is a winner takes all battle. Litecoin depends on Bitcoin. This is not just a hypothesis, this was Charlie’s vision from the project’s inception.

LTC enjoyed the treatment as a bitcoin’s little brother – technology was similar so exchanges and wallets could easily integrate it where ever they integrated bitcoin. This gave it exposure and liquidity which drove its price up especially as many would use it for faster transactions between exchanges or wallets as it had faster transaction time than bitcoin. In the meantime, there are many other coins that can be used for this purpose that are even faster and cheaper, almost free (Nano for example).

With Coinbase and other exchanges adding new projects, the top 10 market caps being dominated by some very diverse and colorful coins and a general lack of media attention and focus on Litecoin unless it makes some significant price movement, I’m not sure what would motivate new comers do the research necessary to learn about Litecoin’s potential. So if Litecoin’s utility as a micro-payment solution is now in question, where does it stand? I suppose it could be the “silver” to Bitcoin’s “gold”, but if Bitcoins are (basically) infinitely divisible and act as a good store of value, then what does Litecoin do?

As Bitcoin network keeps being optimized and upgraded with new innovations like Lightning Network, use cases of Litecoin will disappear and so will its reason to exist. Litecoin doesn’t have the name recognition that Bitcoin has. It does have a fantastic advantage to make improvements to itself much faster than Bitcoin does, but with the rise of so many other projects that have base codes that are already more fit for micro-transactions and scaling, has Litecoin missed the train? I would say yes.

LTC will continue to drop as investors move towards projects that are more realistic in their goals. If anyone replaces fiat, it is going to be bitcoin and not litecoin. Litecoin’s boon and curse has been its mirroring of bitcoin – they enjoyed the ride in the past but with every market contraction, we will lose projects that have no reason to exist, like Litecoin.

Our Litecoin 2019 Price Prediction

LTC, as the rest of the market, is tightly coupled and dependent on bitcoin’s price action. If bitcoin embarks on another bull run, LTC can hope for one as well. Since that is very unlikely, don’t expect much to change for LTC price-wise in this year. So 2019 will be a year of boring sideways action with minor bitcoin ignited jumps and slumps.

In general:

The main currency in cryptocurrency markets is Bitcoin and given this, altcoins tend to fuel Bitcoin runs and Bitcoin tends to do the same in return. Given this relationship, Bitcoin price movements (or lack thereof) tend to effect altcoin prices.

When Bitcoin goes up swiftly, it will likely:

  1. Suppress or depress altcoins as money flows into Bitcoin;
  2. Or, take altcoins along for the ride

In cases when Bitcoin plunges, it will likely:

  1. Depress altcoins as money flows into fiat;
  2. Or, cause altcoins  to boom as money flows into them, but this is rarely the case.

When Bitcoin moves sideways, it will likely:

  1. Cause altcoins to mimic that as traders wait for a clear sign on the direction of the market;
  2. Or, cause altcoins to flourish as traders look for returns in altcoins and try to get favorable trades in terms of BTC pairs.

To summarize, Bitcoin is the focal point of the crypto market in many ways, and with BTC trading pairs on every exchange, the gravity of Bitcoin is hard to evade. The majority of projects will fail — some startups are created just to gather funds and disappear, some would not handle the competition, but most are just ideas that look good on paper, but in reality, are useless for the market. 

Vitalik Buterin, co-founder of Ethereum said:

“There are some good ideas, there are a lot of very bad ideas, and there are a lot of very, very bad ideas, and quite a few scams as well”

As a result, over 95% of successful ICOs and cryptocurrency projects will fail and their investors will lose money. The other 5% of projects will become the new Apple, Google or Alibaba in the cryptoindustry. Will LTC be among those 5%? Hard to tell but probability for that is higher than with most other coins primarily for 2 reasons: solid use case and legit team behind the project. All of this summed up means one thing: LTC might live through couple of orchestrated and, for a regular trader, completely unpredictable pumps but the majority of time will be murky sideways trading with small volume and no significant interest from the market. 

Price will heavily depend on what BTC will do and since many analysts think BTC will not be making big moves in this year, it is hard to expect LTC will do them either. The price will probably stagnate and record slow-moving depreciation or appreciation depending on the team activity, potential technological breakthrough or high-level partnership.

Market prediction for Litecoin price

Litecoin is an original gangster coin, bitcoin’s copy from the old days, one of the strongest brands in crypto space. Let’s check what are the market experts or crypto editorials saying.

  • Trading Beasts
    A crypto forecast website called trading beasts predicted that by the end of 2019, LTC might reach around $80, and only a bit higher in 2020 – predicted to rise up to $95.
  • Crypto Ground
    Here comes a more optimistic prediction of cryptoground, where they say that by 2019 end, LTC might reach $90, and in five years litecoin might reach $324.
  • CoinFan
    CoinFan is a website that offers price forecasts for every relevant cryptocurrency. Their algorithm is awfully bullish as they predict that Litcoin might reach $472 by 2019 end, and might reach $1687 by 2020 end.
  • Wallet Investor
    Wallet Investor is known for their pragmatic cryptocurrency prediction. They believe that LTC might drop to single digits – $3.17 by December 2019, where the year high price might be around $45.

Article Produced By
Torsten Hartmann

Torsten Hartmann has been an editor in the CaptainAltcoin team since August 2017. He holds a degree in politics and economics. He gained professional experience as a PR for a local political party before moving to journalism. Since 2017, he has pivoted his career towards blockchain technology, with principal interest in applications of blockchain technology in politics, business and society.

https://captainaltcoin.com/litecoin-ltc-price-prediction-update-05-20-2019/