Litecoin: Fresh rally pushes LTC Price towards resistance zone, but can it break out of it?

This article explains the basics of transaction fees and goes the extra mile to show you how to buy crypto with low fees. Just like several other unique cryptocurrency projects, Litecoin was created as a Bitcoin fork looking to enhance the original blockchain code. While Litecoin is created with the Bitcoin protocol, it still has some obvious differences from it.

• What’s more, our calculator provides accurate results in seconds; you only need to enter the number of crypto tokens in the BTC to LTC ratio calculator to get your results.
• Both also rely on the same block reward halving mechanism and proof of work consensus method to secure the network underlying network each token underpins.
• In late April of 2011, the all-time high for silver was reached at $49.76 per ounce.
• And if scarcity is driving the demand behind Bitcoin, the fact that Litecoin isn’t at all following is confusing.
• The altcoin also led the charge in the 2019 crypto market recovery, fueled by buzz surrounding the protocol’s block reward halving.

In contrast, both Bitcoin and Litecoin are used as payment currencies or a store of value. However, they also left a legacy and a financial revolution behind them that has since taken on a new life and community of its own. Bitcoin started its life relatively worthless and very difficult to come by.

Is Litecoin A Fork Of Bitcoin?

The low was set June 2022 followed by a strong breakout and consolidation before additional growth. Litecoin has been greatly overperforming against Bitcoin since June 13 and last week even broke above the Lower Highs trend-line that has been holding since the April 2019 Highs. This rally is coming after the completion of a technical Cup and Handle (C&H) pattern, after breaking above the 1D MA50 (blue trend-line) and having the 1D MA200… Break of 8/1 fan will probably lead to a new LTC/BTC ratio all time high, likely along with a new LTC/USD all time high. For those who have been following for a while you may already be well aware of our stunningly correct bearish stance on the entire crypto space since Spring of 2021 (how we doing bulls?). If this were NBA JAM the video game–anyone who understands the inherent unpredictability of markets and posseses the ability to ‘zoom out’ likely would have uttered the phrase…

It could be discussions on social media platforms, carrying out engagements, and so on. Certainly, part of the answer is that Bitcoin has better and was the first-mover in the cryptocurrency space. It has the best liquidity and is the most paired trades with other altcoins.

So, what does this mean for the future of Litecoin and Bitcoin?

In conclusion, in our proposal, the combination of the results of the different clustering techniques by intersecting the clusters is quite an intuitive and straightforward method. However, studies could examine much more sophisticated techniques. For instance, the heterogeneous large-scale group decision maker approach applied by Chao et al. is mostly based on fuzzy clustering, where we could consider each clustering technique as a decision-maker. Thus, the heterogeneous LSGDM allows us to modulate the weight of each technique upon integrating them . Or shape-based clustering seem to offer more unstable results, probably because they use disaggregated data, and the results are more sensitive to small changes.

However, supplies are scarce due to the way each asset’s network is coded, and no more coins can ever be created. Furthermore, rising development activity and a drop in NVT with social dominance point to the resurgence of bulls. As a result, a significant upswing may be on the way, bringing the price even closer to a three-digit value very soon. Interestingly, Litecoin’s social dominance has been severely hampered, and as is evident from the chart above, it has fallen significantly since June 2022.

Is Bitcoin Or Litecoin A Better Investment?

The two precious metals have always had similar reasons to hold one or the other and were used for all the same reasons. As an investment, they have both done well over the centuries and only increased in value. They also make a fantastic trading instrument due to market https://www.beaxy.com/ volatility. The same goes for Bitcoin and Litecoin, except volatility is supercharged. Still, several people believe that Litecoin could reach as high as $3,000 per token. Litecoin started out at $3 and did more than a 100x to go to $375 at the all-time high.

If you’re looking for a good return in 5 or more years, pay attention to this cryptocurrency. Keep in mind that, unlike if you were to buy and sell litecoin, you won’t need an account with an exchange. This is because you trade on the prices offered, which we derive from multiple exchanges on your behalf.

Litecoin vs Bitcoin vs Ethereum vs Ripple

I’d also sell it when it gets to 3 or 4K, a year before it expires. LTC is in every way superior to BTC except network hash power, but that would be self-resolving as the GAL price increases and miners continue to add. In preparing the information contained on this website, no individual financial or investment needs of the recipient have been taken into account nor is any financial or investment advice being offered. Any views expressed in on this website were prepared based upon the information available at the time such views were written.

We recommend allocating those money to crypto and stablecoins savings accounts. Dual Asset combines the yield generation strategies from decentralized finance with the simplicity of traditional FinTech platforms. The result is an easy-to-use crypto wealth management product for everybody with returns as high as 365% APR. An efficient and innovative tool powered by crypto-backed loans to help you capitalize on market volatility. “Difficulty bomb” referred to the increasing difficulty and time needed to mine Ethereum blocks to discourage a fork after the blockchain transitioned to proof-of-stake.

Where can I buy and sell Litecoin?

Below we’re going to compare Bitcoin vs Litecoin in terms of price action, forecasts, charts, and more. The biggest challenge Litecoin faces is the fact that Bitcoin and Litecoin currently target the same investors and traders. Ethereum, for example, has an entirely different use case, and developers build smart contracts and decentralized apps on top of it.

One thing Bitcoin and Litecoin share in common is the fact that they use the proof of work algorithm to make sure transactions are confirmed as error-free and fast as possible. BTC to LTC exchange pair is one of the most popular for Litecoin and Bitcoin. Litecoin is a cryptocurrency project designed to offer low-cost, fast, and secure payments to users by using some unique properties of blockchain technology. LTC has been an underperforming token when compared to BTC for a very long time.

Litecoin was developed in October 2011 by Charlie Lee, a former Google and Coinbase engineer. The block time was drastically reduced so that merchants could accept litecoin without having to wait too long for the transaction to receive enough confirmations from the network. The supply was increased to prevent the digital currency from becoming too scarce and unaffordable. The development of the Litecoin protocol and digital asset are performed by Litecoin Core and are funded by the Litecoin Foundation.

Don’t forget to rate and leave a review on your exchange provider. The Recent Trades section is displayed beneath the order book on the right side of the Trading Page. It lists all recently completed trades on the current trading pair in chronological order. If I wish to have my order executed immediately I can place a ‘market’ order, which will buy or sell at the best market price. If I wish to set a desired price to buy or sell I can place what is called a ‘limit’ order. Litecoin on Beaxy are seamlessly integrated to make your experience as smooth as possible.