Why do people invest in Litecoin?

Litecoin is one of the Bitcoin forks and it has a free open-source algorithm that is developed in conformance with the MIT/X11 license.

Litecoin is shortlisted for large investors, so much of Bitcoin’s positive agenda is quickly spreading to LTC as well. Litecoin’s growth is being driven by the same set of news, including the addition of PayPal and the overall growth of the crypto market.

LTC investors have entered the waiting mode for new triggers, the main one of which will be the price dynamics of Bitcoin. Litecoin’s return to its all-time highest rate is possible, as Bitcoin is returning to its maximum, which means it is possible for other leading coins as well ”

Litecoin is not in vain considered “digital silver” as the block generation speed and, accordingly, LTC transaction speed is 4 times higher than that of BTC, and the average commission is $ 0.013 versus $ 4.39 for BTC. It is more profitable to conduct large and urgent transactions in LTC. The immediate goal of LTC is to reach the $ 100 mark against the backdrop of Bitcoin’s growth to $ 20 thousand.

Litecoin price and predictions for 2021

The beginning of 2020 allowed Litecoin to gradually increase its value, in order to double it by February up to $ 80. Perhaps the growth rate of LTC would have continued, but the COVID-19 pandemic and the global economic crisis negatively affected the cryptocurrency market, and the value of Litecoin fell to $31.46. After such a fall, the price gradually began to level out, and as of 03.12.2020 LTC/USD quotes are trading at $88.1200 and continue to move as part of the growth.

LTC courses are influenced by many factors, such as technological progress or market activity. The announcement of significant updates, the release of new services or news about the development of the platform can significantly affect the value of Litecoin. Litecoin has its own foundation, called Litecoin Foundation. Their main goal is to increase users’ interest in the coin and the LTC spread.

According to Coinswitch LTC future looks promising thanks to integration and partnerships. Litecoin can move upward and seriously compete with other digital coins. Litecoin could hit $ 600 by 2021. It may potentially reach new peaks, which will define his futuristic goals.

Gov Capital predicts the asset price at $ 143.080452 (20.622%) in a year in accordance with its forecast system.

At TradingBeasts, the minimum price is predicted at $ 63.424 and the maximum price amounts to $ 111.575 in 2021.

What could be done with Litecoin?

When people see that the coin price they have invested in is falling, they either cash out their funds or wait for a further decline in the price of the asset and invest into it. You always need to have investment capital ready, which you can operate in order to make money in a falling market. If you have prepared investment money for the moment when the LTC price falls, then do not try to predict the minimum price to which it can fall.

It often happens that a trader buys for example Bitcoin Cash at the minimum price and exchanges BCH to LTC which is currently “growing”; and then bitterly discovers that the price of the previous coin has skyrocketed. Thus, if you see that some crypto coin has grown, do not rush to exchange existing ones for it. This is the fear of missing out (FOMO) syndrome” that leads to many bad decisions in the trading world and should be avoided.

Keeping track of the charts will get you nowhere. But the strategy and action plan, drawn up by you based on your own market analysis, can give a result.

It must be remembered that the crypto market is unstable, and their prices will inevitably rise and fall. However, the general rule of action in the markets remains unchanged, which is “buy cheaper and sell more expensive”.