Litecoin (LTC) has one major advantage in terms of adoption that other cryptocurrencies don’t, they have the argument that if you accept Bitcoin (BTC) as form of payment then you have no reason not to accept it in Litecoin. The technology is a clone that was supposed to bring bigger efficiency in micro transactions when compared to Bitcoin.
This argument is commonly used when conversations take place in order to have Litecoin (LTC) added as form of payment as well as in negotiations for listings on new exchanges. The list of entities that are accepting Litecoin as a form of payment keeps growing and it counts on companies such as Steam, Microsoft and WooComerce which represent obvious leaders in the IT department.
As for exchanges, Bitflyer (Tokyo’s leading exchange) just got a license to operate in Europe as a response to the bigger demands in supply for new exchange points and they count on having Litecoin (LTC) and Ethereum (ETH) trading pair available this year. Also, Bitcoin Trade, renowned Brazilian exchange website, just recently announced that they were going to add Litecoin soon.
Not enough?
Gatecoin, one of the leading exchanges in Hong Kong, just recently regained access to funds which means that they will be able to reintroduce HKD (Hong Kong Dollar) and USD. Not only this but they also introduced Litecoin (LTC) support which means that the new visibility they’ll get will be partially directed towards LTC.
Still not convinced?
Aliant, one of the leaders in international merchandise service providers, announced yesterday that they introduced Ethereum as form of payment in their network. And guess who’s next? Litecoin (LTC). Aliant was one of the first providers to enable Bitcoin payment for merchants through BitPay which means that they’re on the frontier of blockchain adoption.
This decision was took mainly because of the possibilities that were brought to the table with the LN (Lightning Network) and Segwit (Segregated Witness) that allow both scalability solutions and faster processing of transactions.
Litecoin (LTC) has always been a project that we know that has lots of support from developers and the community behind it isn’t going to let this project fall down the charts.
Market Analysis
Litecoin’s (LTC) surge last December got everyone excited, the network that most resembles Bitcoin in the micro-payment department sure saw a lot of success last year. Will this momentum keep going? I say it has only begun.
Why?
Countries like South Korea and Japan are leaders in the blockchain revolution so when these countries see some resistance coming from their regulatory entities it is normal that the prices take a slump. When Litecoin (LTC) reached the $350 USD mark everyone resented not getting in since it was the first climb of December next to IOTA (MIOTA). This will happen again.
The latest news regarding South Korea scared the crypto community where a lot of the various exchanges bank accounts were frozen. But after finding out that the same people that banned cryptocurrency trades sold all their crypto assets before banning them, this nasty insider trading was seen as what it was and everything went back to normal.
This was one of the main reasons for Litecoin’s crash, as well as for the rest of the market. Even though a correction in price was always expected you can sure see that there are a lot of triggers for it.
When you take away the instability of the market and start to see which coins had a steadier growth you see that Litecoin was only abrupt when going up. Usually Litecoin (LTC) is a steadier coin in terms of price so patterns are more easily identified by traders.
This is why traders such as myself see Litecoin as a perfect vessel for those plans of iterating 1% profits throughout the year according to metrics such as the RSI, Oscillator and Ichimoku Cloud, my personal favorites.