Good afternoon traders! Let's discuss the cryptocurrency, Litecoin (LTC).
At the moment, LTC has the following advantages:
- Litecoin has the necessary scalability to be a fiat, that is, money that can be used to pay for goods and services.
- Compared to other cryptocurrencies, Litecoin generates much faster, in just 2.5 minutes.
- Litecoin has a much simpler mining process than Bitcoin and other cryptocurrencies, which means that it requires less investment.
- Litecoin is more flexible than Bitcoin so it is more amenable to change.
However, it also has the following disadvantages:
- The LTC, binding to silver, is very doubtful just like Bitcoin to gold. Miners cannot equate them to precious metals.
- A high level of production increases the probability that miners will spend exactly as much as they earn.
- LTC is most vulnerable to hacker attacks and unauthorized hacks.
- Compared to other cryptocurrencies, Litecoin is not popular on the world stage.
- Compared to 2017, the price of one Litecoin has greatly decreased.
Since for the entire period of its existence Litecoin has decreased by 19%, experts say that it is unlikely to return to its highest value in 2017. But some still believe that in 2020, its value will increase to $ 300, and by 2025 it can reach $ 950. Nevertheless, statistics show that investing in this asset is very risky.
Hence, in accordance with the Stop Hunting strategy, work in a speculative manner to further decrease the asset.
Price Action and Stop Hunting strategies were used to create this trading idea.
Always remember to control the risks.
Good luck!
