Should You invest in Litecoin?
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Disclaimer: I am not a trader.Only A blockchain evangelist that focus on the tech.
What is it?
Clone of Bitcoin, that has been around for more than 5 years. Its consider the Silver of crypto as Gold is Bitcoin and its founder is Charlie Lee.
It’s supposed to be faster and cheaper than bitcoin and focused more on smaller transactions.
Total coins will be 84 million and as of today is worth: 29 USD
In 2013, bitcoin gained +11,000% and litecoin gained +500% over the price of bitcoin during its peak. The price of LTC hit an all time high of around $50 on some exchanges.
The last major litecoin rally was during the summer of 2015, when a Chinese LTC Ponzi scheme managed to accumulate at least 20% of the entire supply. Most of that supply was instantly dumped and the LTC/BTC markets have been on a long bear trend since.
So Should you invest?
A couple of things to talk about:
Are you a longer term investor, trader, or risk taker?
Lets look at some pros and cons
Pro’s:
SEGWIT AND LIGHTNING NETWORK INTEGRATION
Litecoin is currently in the process of trying to help bitcoin’s scaling debate by moving towards the activation of Segregated Witness and Lightning Networks. Litecoin founder Charlie Lee stated in a recent post:
Been around since the beginning
Strong community
Coinbase just added Litcoin: Increase acquisition
Litecoin has a fraction of the transaction fees of bitcoin,
Cons:
If Bitcoin goes Segwit, Bitcoin will almost offer the same features as litecoin. So many will hedge towards bitcoin.
Not new. Not really solving any new problem.
Conclusion:
The probabilities of Litecoin going up is good. But like anything never invest what you can’t lose.
My name is Ameer Rosic, and I’m a serial entrepreneur, investor, marketing Strategist and Blockchain Evangelist
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- should you invest in litecoin
