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Litecoin Gains 2% On The Day, Analyst Outlook Is Bright

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The crypto news today show that Bitcoin has been facing some turbulent price action lately and confirmed its bearish momentum today with a drop to $8,800 which is the major psychological level now. However, what’s impressive in a session like this one is the fact that the Litecoin gains are now at 2% and the altcoin is having a good day.

As we can see, the volatility for LTC has been positive and the altcoin is up trading from its monthly lows. Analysts are also predicting significantly further upside for Litcoin in the near-term – and there is one prominent crypto analyst who noted that LTC could surge as much as 80% against its BTC trading pair in the next weeks and months.

While Litecoin gains 2%, the new position is now at above $61 which marks a slight climb from the daily lows of $59. LTC is in a good position and the Litecoin news show that when looking at the one-month performance, the recent volatility shows that it has been favoring the crypto bulls as it is currently trading up significantly from the 30-day lows of under $50 that were set in late October.

The recent rise and the recent Litecoin gains also prove that the coin is largely influenced by Bitcoin and its massive surge which came about in late October – right after the Chinese President offered some bullish remarks on blockchain technology.

One of the analysts standing behind LTC and its rise named Mitoshi Kaku, explained that he believes LTC may be entering a pivoting point that leads to a climb in the near-term which means that the ongoing surge may be up for a start.

“$LTC Leaving ‘pivot week’ behind. I think I might hold onto this one for a little bit,” Kaku said when commenting on the Litecoin gains.

As we can see, there are many other analysts commenting the recent performance of Litecoin (LTC). Galaxy is another one, who recently echoed the bullish statement by Kaku and said:

“New fav: $LTC. The day when everybody starts to love it again might be sooner than we think.”

All in all, the Litecoin gains prove that LTC is a serious contender for the best altcoin right now – and in the future the coin may see a lot of upside in spite of the Bitcoin bearish trading session.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

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Litecoin News

Charlie Lee Proposes Miner Donations To Fund LTC Development

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The founder of Litecoin, Charlie Lee proposes a 1% donation of the block reward to fund further LTC development as we are reading further in the latest Litecoin news.Charlie Lee proposes donations as a solution to underfunded initiatives. The Litecoin miners which also take rewards for Dogecoin and other algorithms can now afford to share some of their block rewards according to the founder. He stated:
‘’I think a better way to fund development is mining pools voluntarily donate a portion of the block reward. How about Litecoin pools donate 1% (0.125 LTC) of block rewards to the @LTCFoundation? If every miner/pool does this, it amounts to about $1.5MM donation per year!’’
The Litecoin Foundation is one of the most important development entities and underwent a lot of funding deficits that seek other ways to survive the harsh effects of the bear market. The proposed solution angered the community since mining was unrestricted and voluntary activity. The rewards remain for the miners and anyone that tries to take part in the reward will have caused discontent. Litecoin started without a premine phase but other projects such as Zcash built their idea of a developer reward during the early years of mining.The proposal also came right after Bitcoin Cash decided to introduce a tax on the miners and the coin will now levy a 12.5% miner tax to all entities wishing to discover blocks so if the tax is not paid, any blocks discovered will not be considered and propagated. The approach of the founder of Litecoin is different and intended to be voluntary but will spike a whole set of activities that are supposed to have no barrier to entry. Litecoin mining has slowed down quite enough as 12.5 LTC block reward most of the miners give up after the recent halving.If the donations are levied, it would possibly bring around $3,816 per day for the Litecoin development based on the current block reward. Currently, the mining rate of LTC dropped by 70 percent from the all-time peak ahead of the halving and the miners produce around 142 TH/s which is only a small part of the Bitcoin cash activity. Scrypt mining happens on a much smaller scale with smaller machines as the activity is pointed to the SHA-256 mining for bitcoin and other forks of it.
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Litecoin News

LTC Retracement Bound For Correction Before Going Bullish

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The LTC retracement phase is bound for correction at first since the technical indicators show that the coin will correct first before going bullish as we are reading more about it in the Litecoin news today.The recent rally that has pushed the price of the asset up by more than 33 percent since January, could soon find to be exhausted. Based on the TD Sequential indicator, the LTC retracement could be underway. The technical index is now presenting a sell signal in the form of a green nine on the 1-day charts and this bearish formation estimates that this cryptocurrency could even pull back for one to four candlesticks before starting a new bullish trend.Increasing the selling pressure behind Litecoin could even confirm the bearish signal that is presented by the TD sequential indicator and upon confirmation, LTC could even plunge to look for support around the 61.8% or the 50% Fibonacci retracement level. Pulling back to the 61.8% Fibonacci retracement zone could even be seen as a sign that Litecoin’s bullish trend will remain stable. Some could think that an increase in demand for the crypto could even reach the $45 area and the 61.8% Fibonacci retracement level is seen as the golden retracement zone because of the high probability of a rebound.Despite the bearish short-term outlook, the TD sequential indicator presents an increase in the buying pressure around the current price levels and if Litecoin manages to close above the high of $51.8 with enough volume, it could surge further and test the 12.72% Fibonacci retracement level at $56. Shutting down this major barrier of resistance could increase the probability of another move up to the 20% Fibonacci retracement level to $67.4. Willy Woo is an on-chain analyst and partner at Adaptive Capital that believes the Litecoin’s price action will be used as an indicator of where Bitcoin is going next. According to Woo, LTC will lead the Bitcoin price at the moment.If Litecoin does manage to bound for a correction it could even bring the whole market down along. An increase in demand however, could jeopardize the entire bearish outlook and take this crypto into new highs. Woo confirmed that Litecoin looks bullish in the long-run.
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Litecoin News

40 Million LTC Coins Remain Locked For A Year While Price Rises

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More than 40 million LTC coins remain locked for a year while the asset gains more attention at the start of the year, signaling a rally and reaching the $50 level again as we are reading in the Litecoin news today.The Litecoin network has a smaller number of transactions but there are a lot of whales and holders that wait for the perfect time. The recent research reveals that more than 63 million LTC is in circulation while 40 million LTC coins have been locked for over a year. The researchers also tracked some of the coins to a few exchanges and others belong to buyers or early adopters that acquired the coins over the years. Franklyn Richards at Litecoin.com commented:
 “Even taking this into consideration, the main conclusion one may make from this data is that there are a significant number of coins now held by strong hands and long term bulls who have been accumulating and thusly removing potential downward pressure on the markets.’’
Litecoin is now on a new path after the harsh correction phase of above $140 and also the latest halving for the coin only brought a lot of gains in the months prior to the halving rather than the time after the halving. The coin is still highly liquid and has about $4.7 billion in volumes. The asset is present on the bigger exchanges and on some futures market additions on OKEx. Litecoin is seen as a pretty reliable coin with the potential for a significant increase during bull rallies.The last hopes for Litecoin (LTC) signal a new BTC rally as the two assets showed decent proximity and a lot of support from the communities and supporters. Litecoin (LTC) traded at $50.45 which is an increase of 16 percent in the second half of the month and is now recovering trying to surpass the 0.006 lows. The most recent price moves show that Litecoin could even become more active in the upcoming days since it is extremely popular in the Asian markets. The fact that Litecoin soared as one of the most impressive altcoins lately is also one that shows us that altcoins are regaining their confidence in the current market.
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Dash News

Dash Could Surpass Litecoin As Daily Transactions Increase Steadily

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Dash could surpass Litecoin since the number of daily transactions that happen on the DASH network has been rising slowly over the year as we are reading further in the Dash news.There are now more transactions that get performed using the crypto asset rather than on the Litecoin network. Despite the growing usage of the network, the total Dash market capitalization still lags a long way behind Litecoin. Some believe that the market is not yet mature to determine real utility in the crypto assets. Dash is currently in the 22nd place on the popular crypto-assets comparison site CoinMarketcap. After a 24-hour pump of about 8 percent, the digital currency still boasts a market cap of slightly more than half a billion dollars.Bitcoin is still the asset that has the hardest monetary policy in history and many other cryptocurrencies fight to fill the different niches. One of the most prominent coins is Dash since it represents a decentralized means of payment. There are a few other cryptocurrencies that compete with Dash to fill this niche, such as Litecoin.Litecoin is positioned much higher on CoinMarketCap in the sixth place and with a total market cap of about $3.253 billion. The daily transaction volume of the two crypto assets doesn’t quite show the same Litecoin dominance. According to the data from BitInfoCharts.com, the number of the transaction happening on the Dash network has been increasing over the year which is why some believe that Dash could surpass Litecoin also because LTC’s usage has been dwindling.For some of the commentators, the fact that both Litecoin and Dash now has about the same daily transaction volume but its different market caps show that their digital currency market is not yet mature to value the assets based on overall utility. The Twitter user C4Chaos argued that this will not be the case and posted:
‘’At the very least, if the crypto market cares about real fundamentals, then $DASH should be where #Litecoin is right now on the crypto market cap ranking. it’s only a matter of time before real cryptos with real utility rise up to the top. https://t.co/MbGAkw5rvi pic.twitter.com/hpJyqcLmqB’’
The Dash network is being used to transfer a lot more value than Litecoin which doesn’t automatically mean that it has more value. Both of the assets are different since Dash offers different types of transactions and it also features rewards.
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