LiteCoin price for the week beginning 12th February, 2018 moved ter a zig zag manner opening at about $153, moving up to $161 and again ripping off back to about $154. There is also the fresh of an forthcoming fork tho’ the founder and creator of LItecoin, Charlie Lee has warned that Litecoin may be impacted by fork scams. Importantly, Litecoin hardly everzwijn practices disagreements and it is believed that the overhyped ‘hard fork’ could be just to wiggle up things a bit ter what some people consider the Litecoin network spil “boring” because everything there is based on overeenstemming and the project moves on sans disagreements.
Mr. Lee also opines that Litecoin having a fork is unnecessary and that the announcement of a “hard fork” on the anvil could well be a scam. The Litecoin founder also used his twitter treat to state that he and the Litecoin team were not forking the crypto. He added that any news about the fork is a scam aimed at confusing investors and users to think that the news is related to Litecoin. He has further cautioned users not to part with their private keys or seed into the client or webstek and further exhorted everyone worried to be careful.
LiteCoin price reacts to comforting statements from its founder
Mr. Lee also adds that Litecoin is functioning flawlessly spil a digital asset with low fees, high speeds and broad adoption by the online community. He has further warned investors to steer clear of traps set up by third parties claiming to suggest “Litecoin Cash”. He has further opined that this could well be a scam with the intention of stealing Litecoin from gullible users since the Litecoin developers are not engaged te forking. Evidently, thesis statements show up to have had a salutary effect on LiteCoin price tho’ it has moved te a narrow range today.
Cryptocurrencies usually use a hard fork promising technology improvements promising users equal amount of coins they have ter the particular digital asset subjected to a hard fork. Therefore, users should be doubly cautious before parting with their private keys to websites making such offers.
Litecoin Vs Litecoin Metselspecie
Ter many markets, slew of confusion prevails inbetween Litecoin and another cryptocurrency rumored spil Litecoin Contant. Interestingly, the original Litecoin and the forked version that has come to be called spil Litecoin Contant have little te common. LiteCoin contant is touted spil a token based on Ethereum and slated to be traded on Ether Delta and distributed te the form of an airdrop. Spil for the script algorithm for mining, there is no mention at all.
LiteCoin price movement suggests an upside
Even spil the Litecoin Metselspecie news proceeds doing its rounds, LiteCoin price movements indicate an upward trend. Instant support for the cryptocurrency is seen at $140 and the brief term resistance is placed at $170 with the main resistance indicated at $200. Bulls are active on Litecoin ter spite of Litecoin Contant being called a scam by the Litecoin founder.
LiteCoin price can build up at the expense of Bitcoin
Enhanced activity te Bitcoin futures trading can influence other cryptocurrencies and Litecoin stands to build up particularly ter terms of speed and toverfee factor. Enormous delay experienced ter Bitcoin processing is already known and users would be influenced by this singular factor to look at other cryptos. How soon Bitcoin can address the punt of clogging is anyone’s guess. Notably, when network speeds druppel, transaction costs also go up on Bitcoin.
Influx of users on Coinbase another factor to aid LiteCoin price
Coinbase has bot experiencing an influx of users te latest weeks, with about 100,000 fresh users being added every day. With Coinbase supporting just Bitcoin, Ethereum and Litecoin, this is another factor that would help LiteCoin price ter the days to come. Litecoin and Bitcoin love a positive relationship and that works to the advantage of Coinbase ter attracting more eye nuts
Enlargened acceptance by buyers can help the upward momentum
The upward momentum te LiteCoin price will also be supported by the increase acceptance of the coin among users because of the low fees and significantly higher speed. This is particularly relevant considering that users can convert several cryptocurrencies directly into others through a service similar to Changelly. Ter most other situations, your BTCs would very first need to be converted to ETH before you can convert it to another cryptocurrency.
Social media thrust helping LiteCoin price
Charlie Lee, the creator of LiteCoin already loves a significant presence te the crypto world and has commenced a kleintje of media blitz ter latest times appearing on The Glenn Beck Program and Squawk Alley hosted by CNBC. Te turn, this has also encouraged several mainstream outlets to voorkant news related to LiteCoin more actively bringing enhanced visibility to the crypto.
Ter the midst of all thesis, the crypto markets emerge to be passing through uncertain times and sustainability of the high prices for most cryptos, and particularly for those at the top of the schop emerge questionable. Mr. Lee himself cautions that investors should be ready to expect a bear market that could last for several years and LiteCoin price could potentially druppel to $20!