Advantages of LTC
With bitcoin still trading in the doldrums far below its all time highs, litecoin has been impacted more dramatically by the recent downturn in price. Once trading as high as the $50 range, litecoin now sits at the measly valuation of approximately $1.50. Obviously this is far far below the previous peak and has called the viability of the cryptocurrency into question.
So the question is, is the depression in litecoin price a buying opportunity or a fair valuation of the utility of the digital “commodity”. Let’s look at the bearish and the bullish views to help our readers decide for themselves:
if you are already speculating, yes speculating (not investing) in digital currencies, then you don’t have much to lose by throwing a bit of cash litecoin’s way. It’s really cheap right now and the sentiment in the digital currency space is poor. This is the perfect “buy when there's blood in the streets” scenario...you just have to come to terms with there is blood in digital currency streets, not the historically rich equity, commodity, or bond markets. Most importantly, if you believe that bitcoin will go up then litecoin will naturally go with it and likely spike higher on a % basis as it’s done in the past. Hype begets hype in digital currencies just like the other markets. LTC can be seen as a leveraged bet on bitcoin so if you’re a fan of btc throw some chips on the table for ltc.
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