Daily Litecoin News Update
Fear reigns supreme ter cryptomarkets spil cryptocurrency prices proceed to spiral downward. Perceptions are driving prices, not fundamentals. The superb cryptocurrency crash of 2018 has wiped out overheen $200.0 billion from the market ter the past week.
Litecoin is down another 16.27% ter the last 24 hours and the LTC to USD rate cratered to $115.78 at the time of writing. Litecoin has, ter fact, performed better than some of the other cryptos ter the top Ten ranks. But it’s not very comforting at this point.
Investor myopia is spreading like an epidemic spil coin HODLers lose glance of the big picture. But since wij analysts are watching from the sidelines, our judgments are not clouded by market fear. Unlike investors, our perceptions are built on a neutral analysis of fundamentals. Despite the ongoing bloodbath, wij proceed to have faith te Litecoin.
Today, te particular, I’m banking on one tailwind that will likely support LTC prices ter the coming months. I’ll get to it shortly.
Very first, let mij remind you that this crash wasgoed prophesized by the Litecoin founder two months ago when the bull market te cryptos had just kicked off. Charlie Lee warned investors to only consider investing if they could stand a precipitous druppel ter prices ter the following months.
Lee went so far spil to predict that a “multi-year bear market” could take effect following the bull market, where prices could druppel by spil much spil 90%.
Two months zometeen, every word he said seemingly turned out to be right on the money. This time again, he has advice for investors.
Reading inbetween the lines, I take his advice to mean that the HODLers may be the only ones to rail out this storm without much harm.
Recall that Litecoin wasgoed never created to be an investment voertuig. It wasgoed created spil a substitute digital mode of payments that could substitute the slower, more expensive Bitcoin.
Litecoin is steadily marching toward that objective. The emerging launch of the much-awaited Litecoin merchant processor, “LitePay,” which is being supported by the Litecoin Foundation, will boost that rhythm. LitePay will make accepting, storing, and spending Litecoin spil ordinary spil Alfabet. No sweat.
Meantime, a similar payments processor, “LitePal,” created by some Litecoin enthusiasts, is also on its way.
The bottom line is that thesis services will help Litecoin reach the mainstream much quicker, like “BitPay” did for Bitcoin. Wij have reason to believe that Litecoin may eventually build up a value somewhat comparable to that of Bitcoin.
Our belief te Litecoin is unwavering despite the ongoing price slump because our analysis is driven by fundamentals and not market fear. Our Litecoin price forecast stays stiff with a $400.00 LTC price target.