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Cryptocurrency with quick transactions and higher ASIC-resistant mining
Price, 24h
115.12 USD / 0.01316000
-7.04% / -0.30%
Volume, 24h
1,508,634,833 USD
7,045,645,162 / 2.6%
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Bitcoin Ethereum Litecoin Technical Analysis Chart 7/15/2019 by

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Litecoin (LTC/USD) – LTC Is Getting Closer to $100 as the Price Drops Against Bitcoin, an Opposite Move?

Litecoin (LTC) Price Analysis – July 15 The LTC/USD has recovered above the lows of the day, but the rise remains slow. A sustainable movement above the $100 resistance level is needed to stimulate recovery. LTC/USD Market Key Levels: Resistance levels: $130, $135, $140 Support levels: $65, $60, $55 LTCUSD – Daily Chart Litecoin bottomed out at $85.12 and managed to recover towards $92.03 by the time of writing. However, the fourth largest digital asset is still down nearly 13% on a day-on-day basis and -2.2% since the beginning of the day. LTC / USD is stuck in the short-term downtrend against rising volatility, synchronizing with the rest of the market. Moreover, Litecoin bears managed to push the price well below a critical $100 level at the lower boundary of the Bollinger Bands under the 50-day MA. To follow the MACD signal, a possible downward swing is likely to meet the support at $65, $60 and $55 levels. On the upside, a sustainable recovery above $100 which could advance the coin to a high of $130, $135 and $140 resistance levels are needed to mitigate immediate bearish pressure. LTC/BTC Market Against Bitcoin, Litecoin price is moving down slowly below the 50-day moving average and at the lower limit of the Bollinger bands indicator; the bulls continue to dance to the tune of the bears and currently trading at the 0.0084BTC level. At the moment, the buyers are still suffering a serious downtrend pressure from the sellers. LTCBTC – Daily Chart However, the nearest key supports lie at 0.038BTC, 0.036BTC and 0.034BTC in a subsequent move. Similarly, an upward movement above the channel is likely to find immediate resistance at 0.014BTC and above. Meanwhile, the MACD is convincingly at the negative zone and as it stands now, the bears are gaining control of the market. Please note: is not a financial advisor. Do your own research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results. The post Litecoin (LTC/USD) – LTC Is Getting Closer to $100 as the Price Drops Against Bitcoin, an Opposite Move? appeared first on - Daily Cryptocurrency and FX News.

Litecoin vs Bitcoin: Comparing Two of The Most Popular Cryptocurrencies

Litecoin vs Bitcoin Litecoin vs Bitcoin. Which one is better? Everyone from qualified economists to Redditors have been comparing the two since Litecoin came into existence in 2011. The conversation not only discusses these coins individually and against each other, but also pertains to a more complex debate over what it takes to become a successful cryptocurrency. Bitcoin is the clear poster-child for the crypto-community. However, Litecoin has developed a user base from those who are skeptical of some aspects of Bitcoin but still strongly believe in the future of cryptos. While Bitcoin and Litecoin have some slight technical differences, they both set out to accomplish the same thing: transfer value using cryptographic principles. Yet once the two coins face off, it’s clear why Bitcoin has come out the winner. Litecoin vs Bitcoin: At a Glance Note: On mobile devices, swipe and scroll table. Cryptocurrency Launch Date October 7th, 2011 January 3rd, 2009 Creator Charles Lee Satoshi Nakamoto Protocol Proof-of-Work Proof-of-Work Algorithm Scrypt SHA-256 Average Block Time 2.5 Minutes 10 Minutes Block Halving Every 840,000 Blocks Every 210,000 Blocks Max Total Coins 84,000,000 21,000,000 We can compare cryptocurrencies from many angles, but the most popular method is looking at their market capitalization. Market cap is essentially the amount of currency on the market (usually in U.S. dollars). Bitcoin is currently ranked number one with a market cap of over $56 billion, and Litecoin is ranked fifth with a market cap of $2.56 billion. Bitcoin is the standard cryptocurrency that most users and platforms prefer. You might be thinking, So why are we talking about Litecoin? Its market cap may be a tiny sliver of cake compared to Bitcoin’s $45 billion, but it’s one of the few altcoins with an active user base and legitimate credentials. (You can view current market caps in the table above to see how they’ve changed since this article was published.)   Litecoin functions like Bitcoin: It is an online payment system that uses cryptocurrency instead of a national currency like U.S, dollars, Bitcoin and Litecoin carry out transactions using bitcoin and Litecoin respectively. As cryptocurrencies, they both garner a similar community and image, as well as rely on similar cryptographic principles. Bitcoin was released in 2009 as the first cryptocurrency. Litecoin launched only two years later in 2011 but has been sprinting to catch up to Bitcoin ever since.   Litecoin’s developers have stated that their intention was to create a “silver” to Bitcoin’s “gold.” Although Litecoin tech is arguably better than Bitcoin’s, it was born inferior. Litecoin vs Bitcoin: At Depth The two cryptos may seem similar, but they are actually quite distinct in their market acceptance and technical mechanics. In the following four points, we will discuss what makes each crypto distinct. You will come to understand how Litecoin’s arguably superior algorithm will likely forever be subordinate due to Bitcoin’s pervasive network. 1) Bitcoin is Much More Popular With a market cap roughly 22.5x the size of Litecoin’s, Bitcoin’s overwhelming popularity makes it the obvious choice for the crypto investment community. trends.embed.renderExploreWidget("TIMESERIES", {"comparisonItem":[{"keyword":"bitcoin","geo":"","time":"today 5-y"},{"keyword":"litecoin","geo":"","time":"today 5-y"}],"category":0,"property":""}, {"exploreQuery":"date=today 5-y&q=bitcoin,litecoin","guestPath":""});   According to Google Trends, Litecoin hardly holds a candle to Bitcoin’s search popularity. For scale, 100 indicates the peak popularity a term. A value of 50 means the term is half as popular, and a value of 0 means the term was less than 1% as popular as the peak. Since cryptos are viewed as inherently risky, Bitcoin seems relatively stable with its extremely high market cap. Sure, Bitcoin’s price can still be incredibly volatile. Yet while a mere $1 billion loss would decimate Litecoin’s market cap in half, Bitcoin would need a crash of $40 billion in market cap for effects to be just as catastrophic. Despite all this, Litecoin is still fairly relevant in the crypto community. 2) Litecoin Accommodates More Total Coins Many crypto traders account for the total number of coins each cryptocurrency is programmed to make. Bitcoin is capped at 21 million coins, but Litecoin can make up to 84 million coins. Both coins technically still have a long ways to go until they hit their cap limits but it remains a concern because of the price volatility expected as the coins reach their maximums. Bitcoin currently has roughly 16.5 million coins in circulation, and Litecoin has about 52 million. This means Bitcoin is currently at 78% of its maximum, and Litecoin is about 61% of its maximum. If Bitcoin nears its maximum coin amount first, then Litecoin may pick up more traction with traders buying into Litecoin to avoid the Bitcoin volatility. The above point in favor of Litecoin, however, is largely a misunderstanding: Since both Bitcoin and Litecoin can be divided into fractional amounts, the maximum coin shouldn’t impact the value storage of either coin. For example, Bitcoin users can transfer as little as 0.00000001 bitcoins. The ability to accommodate more coins is then kaput. 3) Litecoin Has a Faster Transaction Processing Speed Bitcoin’s average transaction confirmation time is a little over 9 minutes per transaction, whereas Litecoin’s is roughly 2.5 minutes per transaction. This makes Litecoin’s transactions roughly four times faster than Bitcoin’s, offering an attractive advantage for users who frequently conduct transactions, such as merchants . Keep in mind that transactions technically occur instantaneously on both Bitcoin and Litecoin networks, but the transaction confirmation by other network participants does take some time. Waiting the full 9 minutes for a Bitcoin transaction or 2.5 minutes for a Litecoin transaction ensures the transaction was valid. Merchants can accept the transactions instantaneously without waiting for a confirmation, but they run the risk of becoming victim to a “double spend” attack. This seemingly large advantage Litecoin has over Bitcoin, however, is minimized by third-party solutions that make instantaneous transactions more secure. 4) Litecoin’s Cryptographic Algorithm Welcomes Newbies Long-term cryptocurrency users consider the technical components of Bitcoin’s and Litecoins’ different cryptographic algorithms when comparing the two. Bitcoin uses the SHA-256 algorithm and Litecoin uses an algorithm called Scrypt. These algorithms determine the “mining” process for new coins. “Miners” confirm the transactions of other users, and are rewarded units of that currency in exchange. Many consider Bitcoin’s SHA-256 algorithm more complex than Litecoin’s Scrypt, which therefore allows for a higher degree of parallel processing. Bitcoin miners have built sophisticated methods to mine bitcoins at a highly efficient rate. The most dominant method uses ASICs–Application-Specific Integrated Circuits. ASICs are essentially hardware systems (similar to CPUs) created purely to mine bitcoins. The Bitcoin competition for mining is fierce due to the sheer amount of miners, as well as technical innovations such as the ASICs. New miners struggle to establish themselves without adequate computing power, capital to handle expenses, and the know-how to outcompete experienced competition. Litecoin was largely created to appeal to miners who could no longer mine Bitcoin because their CPUs couldn’t compete with ASICs. Scrypt is more accessible for new miners. It was designed to be less conducive to custom hardware solutions such as in ASIC-based mining. Scrypt, however, is not immune to the innovation and there is increasingly development that hinders the easy-access mining Scrypt was partially designed for. Bitcoin Crowned King Thanks to Its Network While Litecoin’s efforts to make mining more accessible to everyone is a notable gesture that speaks volumes about the Litecoin community, it also pigeonholes itself into a niche. Instead of appealing to a massive community of people to achieve a network to contend with Bitcoin’s, Litecoin focused on minor differentiating factors. Litecoin essentially functions the same as Bitcoin and doesn’t offer enough for users to convert from Bitcoin. It’s safe to assume that most crypto-traders, those responsible for the large crypto market caps, aren’t valuing tech over substantial profit. Litecoin’s value proposition simply sounds like another altcoin pitch to them. Less tech-savvy adopters hardly know what the mining process is like, let alone the difference between SHA-256 and Scrypt. So while Litecoin’s price has increased significantly over the past few months, it simply isn’t as attractive as Bitcoin’s. Litecoin additionally took a hard jab in the gut when Ethereum exploded onto the scene in early 2017 and knocked Litecoin down to the #4 market cap position. Ethereum has developed nearly 10x that of Litecoin’s market cap in a short amount of time.   Final Thoughts Since Litecoin’s purpose initially was to be “silver” to Bitcoin “gold”, it really begs the question of whether it will ever be anything more than Bitcoin’s minion. Litecoin technically has a superior algorithm but this is largely irrelevant, as Bitcoin’s popularity has cemented it as the gold standard for old and new crypto traders. When it comes to cryptocurrency adoption, Bitcoin and Litecoin are in the same boat. Think of it this way: Bitcoin and Litecoin are both good guys. But Bitcoin is the main protagonist and Litecoin is the inferior supporting actor. Bitcoin is the Goku, Aragon, and Batman. Litecoin is the Vegeta, Boromir, and Harvey Dent. In the end, Bitcoin will likely end up in every sequel, while Litecoin is killed off due to lack of popularity. An extensive user network is essential in the crypto community. No matter how hard Harvey Dent altcoins may try, even their technical superiority can’t beat the popularity of the Batman Bitcoin . Additionally, Bitcoin’s liquidity cannot be overlooked. The fact that cryptocurrencies tend to be very volatile plays a huge role in the minds of new users. Many new users start with Bitcoin because it offers stability and a large preexisting market. The network effect ultimately determines which cryptos survive and as more users buy into Bitcoin, Litecoin will likely become increasingly obscure. Litecoin’s relevancy is debatable and its recent spikes in price are largely due to the current rise in cryptocurrency prices as a whole. It’s interesting to theorize situations where Litecoin could overtake Bitcoin. Litecoin loyalists cling to the fact that Litecoin is one of the only high-value value-exchange alternatives. In the unlikely case that any of Bitcoin’s potentially problematic features like its 21 million coin limit remain unaddressed and start to create substantial problems, people could shift towards Litecoin. However, the downfall of Bitcoin–the flagship of the cryptocurrency world–could spell doomsday for the cryptocurrency market at large.   The post Litecoin vs Bitcoin: Comparing Two of The Most Popular Cryptocurrencies appeared first on CoinCentral.
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After the recent drop is Ethereum, XRP and Litecoin due for a rebound?

40-years trading veteran Peter Brandt stated that if Bitcoin continues retracing it could violate the “parabolic phase” that started in December 2018 and fall up to 80 percent from current levels, taking Ethereum, XRP, and Litecoin down with it. If current parabolic phase is violated, we could expect either an 80% correction of 7-month advance or much smaller correction w/ definition of new parabola w/ shallower slope. $BTC Note formation of possible 2-wk H&S or H&S failure — Peter Brandt (@PeterLBrandt) July 7, 2019 Even though many investors have seen Bitcoin rise while waiting for altcoins to follow through, an 80 percent correction in BTC could precipitate a massive pullback of the entire cryptocurrency market. At the moment, it is too early to tell if such a correction is possible, but this technical analysis will evaluate, based on the current market conditions, whether Ethereum, XRP, and Litecoin could be due for a further drop or instead for a rebound. Ethereum The TD Sequential Indicator gave a sell signal in the form of a green nine predicting a one to four week correction that could take Ethereum down to test the 50-week moving average, which is currently sitting around $190 since the significant level of support that the 150-week moving average was providing has been violated. ETH/USD by TradingView Now that ETH retraced and tried to break the 50 percent Fibonacci retracement zone, a reversal candlestick is forming on the 3-day chart that could take this cryptocurrency to rebound up to the 38.2 percent Fibonacci retracement level. Although the 50 percent Fibonacci retracement seems to be acting as a barrier due to the high concentration of demand around it, failing to hold the price of Ethereum could lead to a drop down to the 61.8 percent Fibonacci retracement. ETH/USD by TradingView On the 1-day chart, it seems like the 50 percent Fibonacci retracement will actually be able to contain the price of Ethereum from a further decline since the ascending parallel channel that can be seen under this timeframe could be signaling that a rebound could soon come to the middle of the channel, which is where the 38.2 percent Fibonacci retracement is. So, if the ascending channel that has been forming since mid-December 2018 is able to continue holding the price of ETH, its bottom could act as a rebound zone marking the end of the correction, and possibly taking this cryptocurrency up to the middle of the channel or higher highs. ETH/USD by TradingView XRP The selling pressure behind XRP continues to increase as it recently broke a major support point that was holding its market valuation since mid-May. Now that this cryptocurrency broke below the $0.38 support level and it has reached $0.30, which is the lowest it has been trading since the bull run that started in mid-December 2018, investors should pay close attention to it. XRP/USD by TradingView The $0.30 support level represents a pivot point for XRP because it will be the third time since almost a year ago that this cryptocurrency tested this zone. Thus, if this price barrier is able to hold once again, XRP could likely form a triple bottom pattern that could give investors the opportunity to enter a bullish position. According to Eric Thies, a cryptocurrency enthusiast and self-taught analyst, this scenario is similar to what happened before XRP’s bull run in 2017 and it could be signaling a major breakout based on historical data. One $XRP fractal to rule them all. — Parabolic Thies (@KingThies) July 11, 2019 On the other hand, Peter Brand believes that if Bitcoin continues its short-term bearish outlook, then XRP will most likely drop down to $0.16, but as shown in the 1-week chart it will first have to break below the $0.23 support level. If $BTC has intermediate correction then $XRP will go to $.1600 — Peter Brandt (@PeterLBrandt) July 11, 2019 Litecoin Since the high of $147 on June 22, Litecoin has experienced a sharp decline in its market valuation. So far, this cryptocurrency has retraced nearly 42 percent and it seems like there are more legs to go down. For @BigChonis, the end of Litecoin’s bull run started with a green nine per the TD Sequential Indicator, which is the same way it began but in the form of a red nine based on this technical index. $LTC – it all started here…might be ending there… — Chonis Trading-⚔️ (@BigChonis) July 11, 2019 Adding to the bearishness, the evening doji star candlestick pattern that developed 2 weeks ago seems to be in full effect. This is a bearish reversal pattern that signaled that Litecoin could go down to $70 upon the break of the $115 hurdle point. Now that LTC has actually broken below the $115 barrier, it reached the $93.5 support zone which seems to be holding its price from a further drop. LTC/USD by TradingView The fact that Litecoin broke below the ascending parallel channel on the 3-day chart where it was trading since mid-December 2018 could be a clear sign that the $93.5 support level will not hold for long. Due to the longevity of this parallel channel, the move below it could has been accelerating the selling pressure which could result in a further correction. LTC/USD by TradingView These all seems to point out that history is repeating itself and LTC could fall another 25 percent to try to test the support given by the 200-day moving average on the 1-day chart just as it did in 2015 prior the halving—a fixed event that occurs every four years after 840,000 blocks are mined, which reduces the mining reward by 50 percent. Therefore, a drop down to $70 could indeed be possible, representing a 49 percent correction from the recent high of $147. LTC/USD by TradingView Overall Sentiment Under the current market conditions it seems like while Ethereum and XRP are at a pivot point where they could bounce off, Litecoin could be doomed to continue pulling back from the major upswing that it experienced since the beginning of the year. Ethereum could be at the cusp of rebounding to the $256 resistance level if the current support level is able to hold, but in the case it does not it could continue depreciating value to around $190 or lower. Along the same lines, XRP has reached the December 2018 low of $0.30, which poses a lot of significance to investors who should watch out for this level as it will determine whether a 50 percent correction or the beginning of a new bull run will materialize. Finally, Litecoin is just 20 days away from its block reduction event and everything seems to be pointing out that a similar scenario to what happened in 2015 will occur now and this cryptocurrency will now pull back to the 200-day moving average that is currently sitting around $70. It is worth noting that retracements are normal during bull markets after major upswings and they help ensure that the bull trend is healthy. In the most recent bull market, for instance, Bitcoin ran up for more than two years from $198 on Aug. 25, 2015 to $19,760 on Dec. 17, 2018 and experienced eight significant corrections during this time without affecting its long-term trend. The post After the recent drop is Ethereum, XRP and Litecoin due for a rebound? appeared first on CryptoSlate.

Binance Research Points Out The Similarities Between Litecoin And Dogecoin Mining Halving

A report released by Binance’s research team shows that the effect of block reward halvings for both Bitcoin (BTC) and Litecoin (BTC) mining could be alleviated by merged mining. Both the coins practice merged mining that gives increased security for smaller Proof of Work (PoW) blockchains. What Is Merged Mining? Merged miner allows a miner […]
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There are 4k crypto ATM worldwide, according to Сoinatmradar. The leader is North America with 71.3% of all machines installed, following by Europe (25%) and Asia (2.56%). The most popular altcoins are LTC and ETH, correspondingly. Rates come up to 8.85% buying rate and 7.9% selling rate on average

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