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[BMF]

Litecoin is the second popular cryptocurrency next to Bitcoin. This coin was first released in the year 2011 by a former employee of Google named Charlie Lee. The transfer of coins follows an open-source protocol that is not monitored by any central authority system. Litecoin is fondly called as "Silver Bitcoin" as it is not trying to become a competitor for Bitcoin. The symbol for Litecoin is LTC or simply L.

Pros:

1. Faster Transactions – It is possible to create a new Litecoin block in just 2.5 minutes which means that the transactions will get confirmed quickly. It will take at least 10 minutes to create Bitcoin blocks.

2. Good market cap – As per the recent statistics, Litecoin is in the Top 5 ranks of the market capitalization as it has crossed the margin of $2 billion.

3. SegWit – Litecoin recently has activated the new feature named Segregated Witness (SegWit) into its network which has increased its transaction capacity 8x times more than Bitcoin.

4. Easy mining – The mining algorithm of Litecoin is simpler than that of Bitcoin. So it consumes less power and space when compared with other cryptocurrencies.

5. Low transaction fees – The transaction fees of Litecoin is very less when compared to that of Bitcoin.

6. Lightning Network – This feature has been enabled for Litecoin which will help the users to make transactions outside the blockchain network. Lightning Network will solve the scalability issues and lower the transaction fees.


Cons:

1. The network hash rate of Litecoin is low. It is around 90,000 Mega Hashes per second when compared with 20,000 Tera Hashes per second of Bitcoin.

2. Litecoin is not widely accepted by merchants when compared to Bitcoins.

3. Only a few wallets are available for Litecoin.

4. Many crypto exchanges do not provide support for Litecoin.

 

[Yugocean]

LTC at $64 Level

Two things hit LTC hard
1) Bitcoin crash that also hit the market with bear, and
2) Binance's decision of delisting Litecoin alongwith DOGE perpetual contracts as trading pair with BUSD.

 

[Yugocean]

At $65 Level

Litecoin bulls were able to run a little with some greenery in their mouth. LTC today increased to $65 level, but this small increase do not provide anything that will determine its next possible move

 

[Medo24]

The crackdown on the price of Bitcoin is also affecting the Litecoin price. How if one can invest in the coin now or even at $70 and then hold it for at least two months, it could be profitable.

 

[Yugocean]

$66 level

LTC has started showing a little improvement; it has reached the $66 level, which means LTC Bulls are slowly moving ahead. I cannot guarantee it, but a slow increase is possible at the current level.

 

[Yugocean]

At $62
.Litecoin at $62 level is at a comfortable level; it may or may not fall lower. Since the halving, only the level of its fall has stopped. On a weekly basis, sometimes it goes down and sometimes it goes up a little, but the price mostly remains stable.

 

[Medo24]

Personally, I see the support level LTC to be at $53 though it may not be a good point to enter a trade but the possibility that LTC won't go below. $62 is slim because people will want to short below that..

 

[Yugocean]

Tradable $62
Litecoin at $62 level.is tradable, although it is revolving inside $62, but it is able to make 0.2%, a small 0.1% profit for trader and 0.1% is normal fees. If your exchange charges less fees, then there should be more profit.

 

[Medo24]

Yesterday I tried to long LTC from $62.2 up to $63.1 but unfortunately the coin didn't dip below $62.5 before correct back to $63.2. I hope to watch it today to see whether to long or short it.

 

[Yugocean]

LTC was taken off the green list by NYDFS

LTC is no longer listed on the greenlist of tokens maintained by the New York State Department of Financial Services (NYDFS). NYDFS has actually removed two dozen tokens, LTC is among them.

 

[Yugocean]

Litecoin at 64
The price of LTC is still in the swing of $64 stability, with day traders buying when it goes down ($62-63) and sell back when it returns to $64 to make a small profit. But, there is a lot of risk in this.

 

[Medo24]

What could be responsible for such removal by the New York State Department of Financial Services (NYDFS) ?

Could this also affect the price and coin market capitalization rank for the coin with this development? Share your opinion if you have any updates.

 

[Yugocean]

$64 Level stability
LTC is delightfully stable at $64, down more than 2% over the past week, and the star of the consecutive losses over the past 24 hours is so small that LTC has not been affected at all.

 

[Yugocean]

$68

Bulls are riding on crypto market, LTC also gained and crossed $68. If Bulls keep riding, it may cross $70 soon. Day traders and short time traders both gained from the rise. HODLers who purchased at $64 or below are also at profit.

 

[Yugocean]

$100

Litecoin has reached $100 leval, it is like a sleeping giant. Currently it is playing at $99 leval, but it already touched $100 today. I suppose it will gain a bit more. There is no guarantee even then.