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Litecoin News

Bitcoin’s Reign May Come To An End: Will Litecoin Replace It?



Last year was great for cryptocurrencies. In fact, they had the greatest single-year performance in history. After the promising $17.7 billion market cap at the beginning of 2017, the cryptocurrency market finished 2017 with a combined market cap of $613 billion which represents an increase of the value of more than 3,000%.

Additionally, 2017 was time of dominance for the leading cryptocurrency, Bitcoin. As the first cryptocurrency with the option for trading back in March 2010, the reign of Bitcoin is what brought blockchain technology to the spotlight. Bitcoin was also bought for exchanging popular digital currencies on decentralized exchanges – but also an investment that made a lot of people rich.

Despite the surge of Bitcoin that came close to the $20,000 mark, the leading cryptocurrency is now above $10,000 in terms of value. As consistent as it has been, Bitcoin is going to shades according to some experts. The big question is – which cryptocurrency has the power to replace it?

Many fingers are pointed to Litecoin – the cryptocurrency with a massive potential out there. The truth is, as Bitcoin has grown in terms of popularity, some of its flaws have become visible. From the approval for upgrades to the open-source network vulnerabilities, Bitcoin’s flaws have caused numerous forks, creating new digital currencies in the process all while relegating Bitcoin to a slower and pricier network.

The average Bitcoin transaction takes longer than an hour to process – and the fees are around $28 – which makes it the same cost as a bank wire transfer and makes Bitcoin a poor choice for daily transactions.

Litecoin, on the other hand, is often described as “bitcoin Lite” and considered to be in cooperation and not in competition with Bitcoin. Recently, Litecoin implemented SegWit which has boosted their capacity of handling merchants and transactions and ramped the processing speeds while lowering transaction fees. Bitcoin, on the other hand, was supposed to implement the technology but couldn’t gain the needed consensus to do so.

This certainly gives an advantage to Litecoin and puts it in the spotlight for being “the best” (performance-wise) cryptocurrency out there.

What do you think?

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Bitcoin News

Bitcoin At $3,860, Market Still At $130bn: Is A New Rally Coming?

Over the past week, the latest Bitcoin news have shown that the cryptocurrency market is idle and not willing to go above the $130 billion mark. Without movements on the upside or downside, all we see are mild movements which go in below one percent decimals. The situation is practically unchanged for Bitcoin (BTC) for days. The most dominant cryptocurrency is recording a stable daily trading volume and hasn't even made it to its resistance level at $3,900 which could be a sign that some steam is running out and a further damp is expected. Bitcoin continues to consolidate between $3,830 and $3,870 as the daily volume remains stable at $7.5 billion. Meanwhile, Ethereum continues to slowly weaken day by day, despite its growth over the past few weeks. ETH is now down to $135 which is marginally lower than yesterday's levels. Some people state that it has mirrored Bitcoin's actions until last week, when it started going sideways, just like Ripple (XRP) and the rest of the top 5 cryptocurrencies. The only bright side in the market is now Litecoin (LTC) which is doing anything rather than sitting. LTC has surged by 2.7% yesterday and now has the third largest volume of all cryptos - managing to get back close to $50 and is closing the gap to EOS which is idle for a couple of days now. A big move could be only possible if the trading volume increases, but as it is, we won't be seeing that in the near future.  
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Litecoin News

Litecoin (LTC) Price Analysis: Will It Remain At $50?

In the altcoin world, Litecoin (LTC) has always been making headlines - mainly because of its movements and ability to stick within the top 10 cryptocurrencies by market cap. In the crypto news today, we are seeing Litecoin up by 1.8% which means that it is now trading at $46.28 and heading towards the $50 mark. What is interesting is that Litecoin was at $35 weeks ago which is why it is important that it maintains this bullish momentum and supports its support line. However, the bearish scenario is still here. Conservative traders should know this and know that while Litecoin (LTC) is heading towards $50, it can also fall to $40 or even $30 if the bearish momentum is maintained. From the top-down approach, sellers are now technically in control and bulls will be only in charge if there is a solid breakout, reversing the losses on February 24th as the second stage of a typical breakout pattern. Litecoin, on the other hand, still maintains in a position where it is waiting for a reversal. Mefore any of the medium to long term trade conditions are validated, risk-off traders can buy dips and aim at $50 as the first target for LTC. What is also likely is that if LTC drops below $42, it may cause a sell-off putting pressure on the bulls who might cave in.
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Litecoin News

Litecoin Foundation Partners With Kickboxing League Glory, Becoming Its Official Cryptocurrency

A new partnership between the Litecoin Foundation and the kickboxing league Glory is in the digital currency news today - where LTC will become the official altcoin and cryptocurrency for the online merchandise platform by Glory as well as its international events. According to an official press release from Litecoin published yesterday, Glory will integrate LTC in its online merchandise store - The league is known for signing the top kickboxing heavyweights such as Peter Aerts and Remy Bonjasky and is very popular in United States and Europe. From now on, Glory fans can use Litecoin (LTC) to purchase various exclusive and event-related privileges. From "“athlete meet-and-greets, backstage arena tours [...] and premium in-arena seating," there are many products the fans can buy. The founder of the Litecoin Foundation, Charlie Lee, expressed his enthusiasm towards the new partnership and its aim to drive crypto adoption by stating the following:
“GLORY has a growing worldwide fan base that consists in large part of a younger demographic who are early adopters of technology and conduct much of their lives online - from consuming content to purchasing products. [...] Tapping into their global audience and educating them about Litecoin through real world use cases can be powerful.”
Founded in 2012, Glory is operated by Glory Sports International which is an organisation that hosts global events in a myriad of combat disciplines. Its media coverage spans in over 200 worldwide territories.
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Altcoin News

Crypto Market Adds $10 Billion, Currently With $134bn. In Circulation

Litecoin (LTC), Bitcoin Cash (BCH), Tron (TRX) and Stellar (XLM) were the highest earners in the new surge that led the cryptocurrency market to add new $10 billion - coming closer to the $135 billion gap. In the daily news of our DC Forecasts crypto news site, this surge came with bullish moves in Bitcoin and Ethereum as well, which dominated the market. However, in this piece, we are focusing on the altcoin traction which started with a solid upward move by Bitcoin Cash (BCH) which broke the $130 resistance against the US Dollar. The BCH/USD pair gained traction and surpassed the $140 and $145 resistance levels, shooting up by about 15% and testing the $150 resistance level on the upside. Litecoin (LTC) also pushed high and broke the $45 resistance area, trading up by around 7% and breaking the $47 resistance as of recently. It seems like with the positive price action recently, the chances for LTC are of more upsides above the $48 and $50 resistance levels. Tron's price, on the other hand, formed a support base near the $0.0240 level. TRX later started a correction and moved above the $0.0250 resistance, opening the doors for a decent recovery. Looking at the total market cap, buyers gained control above the $130 billion resistance levels where the high is right now set at $136-7 billion. However, the possibility of dips is still present.
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