Litecoin: The mystery of the low price
I'm going to start off by saying this is all just my personal opinion. I'm still fairly new to crypto (been a creeper for years), but I'm trying to grasp why Litecoin hasn't really ever caught on in terms of both price, but more importantly, adoption.
I love Litecoin. It's fast, fees are insanely cheap and has some great tech compared to it's bigger brother Bitcoin. Yet for some reason it's seen in the public eye as the 'Silver' to Bitcoin's 'Gold'. For me it's the coin that I prefer because especially for smaller transactions I'm not penalized every time I want to send <$20 to an exchange with $2 mining fees. Unfortunately there aren't a lot of places you can trade Litecoin to other altcoins so it makes it a bit difficult to use.
Now from my understanding they're kind of the guinea pigs for future Bitcoin tech, but they seem to be developing at a much faster rate and the dev team seems solid. So what am I missing? Surely it shouldn't be 100x cheaper than Bitcoin. Yesterday I figured it was really undervalued, even through this crash and ended up picking some up. 24 hours later I'm up 30%, but based on Litecoin's volatility it probably won't last long.
I'd love to hear your guy's thoughts on the Litecoin. Do you like it? Am I wrong in thinking it's a good coin or undervalued? Let me know in the comments below.
Image Source (www.financemagnates.com)
I look at blockchains that promote and effectively advertise themselves as a champion of the crypto space, and to my knowledge, LTC is not one of them. I own LTC but long ago gave up trying to invest in it..
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Very true, maybe it's simply a marketing thing. It definitely could be how they project themselves into the eyes of the market.
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Hey i'm pretty new to cryptos too so not an expert by any means. I always thought that litecoin development was slowing down.
Or at least that's the impression i got from the litecoin subreddit. I have a small litecoin stake but that's stopping me from getting more.
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There certainly are coins/assets with much speedier development teams, and truthfully there are other coins that I'm more excited about. Really the two points for me are just speed and price of transactions are nice in comparison. But then there's XRP and their speeds that rival VISA.
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I'm a big Litecoin supporter. (by this I mean I have a small financial investment and big hopes - I'm certainly not a whale!)
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Same, I've got a very small value portfolio, but it's something I'll be building upon heavily over the summer.
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I'd also like to add that I'm not trying to manipulate markets or make anyone purchase some. I'm just genuinely interested in what people think of it :)
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Interesting blog. I was about to post a similair thread. Many people say the prices of cryptos are high but we also thought that about Amazon, Apple and Facebok last year. Do you know this interesting site? https://www.coincheckup.com The site is my go to place for crypto investment analaysis and indepth coin research. On: https://www.coincheckup.com/coins/Litecoin#analysis For the Litecoin Research report.
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Following you! I give you a vote!
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