There has never been a better time to invest in Litecoin if you want to reap big in cryptocurrencies. This crypto is highly undervalued right now, trading at around $160, a massive drop from its recent highs of over $300. This makes LTC a bargain at its current price levels. So why now? Isn’t there the risk that it can drop further?
Well, the answer is No! The dark days are most likely over. One of the reasons why the crypto market had dipped quite hard in the last few days were fears that the G20 would recommend stringent regulations against the crypto market. However, as it is emerging, that will not be the case. The G20 is unanimous that cryptocurrencies are an asset class, and do not in any way pose a threat to the global financial system. This decision has removed the dark cloud that has been hanging over the crypto market for the last few days. That’s why for a coin like Litecoin (LTC) whose fundamentals are quite strong, its current price is quite a bargain, in light of the increased positive market sentiment. You can expect this coin to rally as investors rush to take advantage of the G20 news. Litecoin has already edged up by more than 10% in the last 24 hours, signaling the increased investor confidence.
But that’s not the only good news that has recently come Litecoin’s way. Abra, a platform that aims to take cryptocurrencies to the mass market has chosen to add Litecoin to their platform instead of Bitcoin cash. This is guaranteed to increase Litecoin trading volumes, and it’s a good thing for Litecoin’s future growth. The Abra deal is also sending a message to the market that Litecoin (LTC)is a better crypto than its competitor bitcoin cash. This will give it a significant boost in the market, and the same will reflect in its price.
On top of that, there is emerging news that LTC could be added to the Gemini exchange. We all know what happens when a crypto is added to a new exchange, right? Prices tend to shore up significantly, as traders move to take advantage of the new listing. Now imagine what will happen to the price of Litecoin once it gets listed on Gemini, considering that this is no ordinary exchange. This is an exchange that has built a reputation as one of the easiest exchanges to use. It is also backed by the Winklevoss twins, two of the most powerful personalities in crypto space. A listing on this exchange could easily be the trigger that pushes Litecoin to over $300 in the next few weeks.
Litecoin is already responding to all these good news! For instance, trading volumes are on the rise. This is indicative of a spike in interest from investors. Once the market fully rebounds, Litecoin (LTC)could easily hit a valuation of $1000 or more. It has all the indications of a perfect coin. From its features such as transaction costs and speeds, to brand recognition, Litecoin is a coin on the move!