Litecoin (LTC)has shown a very significant growth during early December of 2017. On 9th dec 2017 it was selling at INR Rs 10300-/ equivalent to $159.75. whereas on 11th Dec 2017 it jumped at Rs 27500/- equivalent to $ 420 per LTC till evening. The current scenario of the coin is not too good at all. It has been stuck for a lng period of time. Many investors , sepcially newbie lost their hard earned money.
Litecoin Vs Bitcoin
Each coin has its own unique idea and technique. Litecoin and Bitcoin are both a cryptocurrency. Bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency.
whereas Litecoin is a peer-to-peer cryptocurrency and open source software project released under the MIT/X11 license . Both currency can be generated digitally and are a decentralized currency.
Bitcoin generation has a limitation whereas Litecoin have don’t. The Bitcoin network can’t produce the coin more than 21 million coins. But Litecoin can accomodate 84 million coins. Market capitalisation of Bitcoin is far more than the litecoin. In terms of market capitalization Bitcoin is considered no.1 currency.
According to data from Blockchain.info, the Bitcoin network’s long-term average transaction confirmation time is more than just 10 minutes per transaction. It can be considered the time taking as compared to other coins.
Whereas the equivalent figure for Litecoin is roughly 2.5 minutes, according to data from BitInfoCharts.com.It is quiet faster than Bitcoin.
Golden time of Litecoin
During the period of November to December 2017 all coins were performing like a king of their own zone. Bitcoin reaches to its maximum height of INR 14 lac equivalent to $19,556 / BTC. this is the all time highest rice of bitcoin.
After this high jump and roller coaster ride major announcement and changes occurred in the whole world. Litecoin too performed excellent. It jumped from Rs 10300 to Rs 25000/- within a day .
But litecoin has stuck on the market for last 3 months ever since Mr Lee (founder) sold the entire litecoin. cryptocurrency market has become very cautious of LTC .
Although this coin has always been considered the no. 1 Altcoin amongst though recent changes were not very favorable with this coin.
Litecoin the stuck coin
I am trading in cryptocurrency for past couple of years, and very much optimistic about this coin. One could book a significant profit margin on daily basis. As compare to the Ethreum this coin was doing better.
But litecoin has stuck on the market for last couple of months ever since Mr Lee(founder) sold his entire litecoin. cryptocurrency market has become very cautious of LTC . Although this coin has always been considered the no. 1 Altcoin amongst though recent changes were not very favourable with this coin.
Litecoin is what today was not yesterday , it has created the situation for the people like they want to sell but their mind is not accepting it. Some wants to buy but their mind is telling that the price is going to fall more.
Why Founder of Litecoin sold all his holdings
Mr Lee (founder) sold / distributed his coin and gave a very innocent statement that , he has become very famous all over the world and since he is the founder of litecoin his statement becomes a news and very sensitive that litecoin get affected quickly.
Dear your comment was not hurting as much as its now because you are the founder and sold your own holding. This act affected the market so much that Litecoin just stuck around $230-280 .Later it droped down at $200.
This is the very reason that Ltc has stuck . Although it rose very sharply and jumped in the beginning of this month though this incident pulled backed the leg of this rising star.
Whatever the reason is , the market still relies on the capabilities of LTC . The investor and traders are very much optimistic of this coin , and very soon it will run like a bull . This bearish period can be interpreted as price consolidation period. And the trend suggest that it will move in year…2018.