LITECOIN TECHNICAL ANALYSIS (LTC US DOLLAR)


Litecoin Price Prediction: LTC jumpstarts uptrend as $160 beckons – Confluence Detector


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Latest Litecoin Analysis


Latest Litecoin Analysis

Editors' picks

Cardano Price Forecast: ADA targets 900% bull rally, but it must clear $0.33 first

Cardano had a significant rally towards $0.355 at the beginning of 2021. After a notable dip to $0.228, bulls bought it and managed to push Cardano price to $0.33 again before a small rejection.

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Ethereum price aims to flush out doubters before the ultimate breakout to $2,000

Ethereum bulls bought the dip on January 11, pushing the digital asset from a low of $915 towards $1,256. The smart-contracts giant has been outperforming Bitcoin in the past 24 hours despite the negativity seen on social media.

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XLM Price Prediction: Stellar consolidates ahead of a 30% move

XLM price trades at $0.291 at the time of writing after a healthy consolidation after hitting a 2021-top at $0.411. There is a high chance that XLM is about to see a massive breakout or breakdown within the next 24 hours.

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Bitcoin Weekly Forecast: BTC price faces extreme volatility ahead of a new all-time high

Bitcoin had a wild run this week, dropping from a high of $41,350 to a low of 30,420 in less than 48 hours. The panic sell-off was stopped on its tracks at the 26-EMA on the daily chart as bulls quickly bought the dip and created a V-Shape recovery pushing BTC towards $40,100 again. 

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BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC price faces extreme volatility ahead of a new all-time high

Bitcoin had a wild run this week, dropping from a high of $41,350 to a low of 30,420 in less than 48 hours. 

Read the weekly forecast

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CRYPTO EDUCATION

Characteristics of Litecoin

Litecoin is an open-source cryptocurrency created on October 7, 2011. It emerged as an alternative to Bitcoin, improving some of its basic characteristics:

  • First, it has a greater speed in the verification and processing of its blocks, which are carried out in 2.5 minutes while the time required by the Bitcoin is 10 minutes.
  • Second, the Bitcoin will reach its total volume in 2140, when it will have a total of 21 million units. The Litecoin will have a maximum of 84 million units.
  • Third, the Litecoin has a function that simplifies and reduces the energy necessary to perform the mining of the cryptocurrency called Scrypt proof of work.

Among the main similarities between Litecoin and Bitcoin::

  • Both are based on the blockchain
  • It allows a mining process
  • The division of the main unit of both Litecoin and Bitcoin is 8 decimals.
  • The difficulty of mining Bitcoin and Litecoin increases every 2016 blocks.
  • Both use the Proof of Work (PoW) algorithm

What is the Difference Between Litecoin and Bitcoin?

In addition to the aforementioned differences between Litecoin and Bitcoin, it is vital to note that mining differs between both cryptocurrencies. The central change lies within the algorithms. Litecoin uses crypt while Bitcoin’s algorithm is based on SHA-256. The S-crypt algorithm makes extracting Litecoin far faster in generating a block: a mere 2.5 minutes against 10 minutes for Bitcoin.

The rapid mining clip results in enhanced security: being four times faster makes Litecoin more secure. Likewise, mining Litecoin entails an additional benefit. As Litecoin miners are grouped in mining pools, the compensation for the effort is attributed to all participants and there is a diminished probability of mining efforts resulting in no compensation. This feature has attracted miners to LTC, which has the second-highest mining volume behind Bitcoin.

How to buy Litecoin, Bitcoin, Ethereum and Ripple

Trading cryptocurrencies does not have to be a tiresome and obscure process once you know what to do and what to expect. Below is a quick round up of key takeaways. How to buy and trade cryptocurrency in four easy steps:

  • Step one. Choose your coin. If you are new to cryptocurrencies, start with Bitcoin, Ethereum, Litecoin or other large and established currencies. They are more liquid and less volatile.
  • Step two. Create your wallet. The easiest way to do this is to register with an online service. Don't forget, that wallets are currency specific. It means that they can send and receive only compatible coins and tokens. If you prefer pure trading and not owning cryptos, you can skip this step.
  • Step three. Buy some crypto coins with P2P trading platforms or visit cryptocurrency exchange that supports buying crypto for fiat money. You will need to provide details to register with the exchanges. Some of them will have you link your bank account or credit card to pay for your Bitcoins. If you prefer only trading and not owning cryptos, you can skip this stage.
  • Step four. Open an account with a cryptocurrency trading exchange with good liquidity and a full range of tradable cryptocurrency pairs or with a forex broker. Some exchanges and brokers will ask you to verify your identity and enable two-step authentication for better protection. Step five. Develop a solid trading strategy and exercise strict self-discipline to avoid hasty trading decisions. Educate yourself on trading fundamentals and trading psychology issues - they all apply to cryptocurrency markets.