LTC (Litecoin Cash) is often referred to as the “silver to Bitcoin’s gold.” LTC ranks amongst the top 20 coins on the digital asset market.
Investors should monitor broader macroeconomic news related to inflation and monetary policy as these may have an effect on Litecoin prices.
What is Litecoin?
The Litecoin to US dollar exchange rate, LTC/USD, is one of the most sought-after pairs among Forex traders.
Litecoin (LTC), created and launched by former Google engineer Charlie Lee in 2011, is another peer-to-peer cryptocurrency using blockchain for transaction records, much like Bitcoin (BTC). But it differs in several key aspects.
Blocks created and verified in 2.5 minutes instead of the 10 required by Bitcoin, making it more suitable for fast, low-cost transactions such as microtransactions or point-of-sale payments. Furthermore, Scrypt uses an alternative hashing algorithm requiring less computing power for mining purposes.
Like all digital assets, the value of Litecoin is determined by market forces; changes in investor sentiment or rival cryptocurrencies’ popularity could impact its price. Furthermore, trading it involves risks; please read our full disclaimer before trading and note that we may earn revenue through affiliate links when products you purchase through them are bought via us.
How to Trade Litecoin
There are various methods available to you when trading Litecoin. Firstly, there is the direct purchase and sale through crypto exchanges, which may provide quick and straightforward trading experiences but may come with increased risks such as having to find buyers/sellers before your order can be executed successfully.
An alternative trading product that may suit your needs is trading Litecoin CFDs, a leveraged trading product where you agree to exchange the difference between open and closed positions – meaning any upward price movement can be seen as profit while any decrease can be accounted for in fees or compensation payments.
Finally, another way of trading Litecoin is via a regulated cryptocurrency broker. While this may provide for easier and safer trading experience, additional fees and charges may apply. Always consider your risk appetite and level of experience prior to trading cryptocurrencies; only invest with funds that you can afford to lose and start with small investments to build experience gradually. If this is your first experience trading cryptocurrency markets then start small until you become comfortable investing.
Litecoin Price Predictions
Litecoin (LTC) has quickly become one of the most coveted cryptocurrency investments among investors and traders, thanks to its similarity with Bitcoin and established presence. LTC prices often experience sudden price changes based on market fluctuations.
Cryptocurrency prices are determined by demand and supply factors as well as regulatory news. To anticipate price movements in the future, traders use technical indicators like moving averages. A moving average is calculated as the sum of closing prices over an specified timeframe divided by its number of days in that span.
Mining rewards also play a factor in the price of Litecoin, with mining rewards decreasing over time and less coins entering circulation, possibly leading to price increases; though analysts had expected such effects to be much more dramatic.
Litecoin Future
Litecoin is one of the world’s most beloved cryptocurrencies, trusted by various sports leagues. Additionally, its loyal following among retail investors and traders continues to increase despite recent crypto winter slump. Furthermore, during that period it outshone many other digital assets by showing higher highs and lower lows, signifying an upward trend.
Traders use Litecoin as an affordable, quick, and secure alternative to Bitcoin for point-of-sale transactions and microtransactions, due to its fast transaction speed and lower fees – ideal for smaller transactions.
Though cryptocurrency markets remain bearish, some analysts remain bullish on Litecoin. For instance, Wallet Investor projects its value will double within five years. Another promising indicator is OBV which can predict price changes by tracking volume flow; when OBV rises while price doesn’t, this may signal potential bottoms for price changes. With CMC Markets you can trade futures for Litecoin using our innovative multi-collateral wallet that accepts 9 collateral types and leverage your positions by up to 20x.
