Litecoin (LTC) could be one of the best investment opportunities available in crypto-verse. This was reflected in a report released by e-Toro this August, in which they talk about the evolution and current status of the popular cryptocurrency created by Charlie Lee.
The “LTC Market Research” was prepared under the responsibility of Mati Greenspan, a well-known analyst and expert in the field of cryptocurrencies, who did not hesitate to show the advantages of said cryptocurrency, as well as a favorable future outlook for the prices of this popular blockchain token.
Litecoin: Silver 2.0
“If Bitcoin is digital gold, then Litecoin is digital silver.” Such are the words with which the report begins, allowing investors and the general public to place their minds in a more traditional context (the commodities market).
The report says that LTC has similar uses to those of Bitcoin, although due to its own characteristics it can be closer to the definition of “liquid money” than to that of “store of value”, despite being suitable to fulfill both roles.
“Litecoin (LTC) is by far one of the most established networks in the crypto space. It is already being used by many as a store of value and means of exchange and so can be considered as money”
Buy The Dip?
The report shows a potential long-term bullish trend in prices, thanks to a series of groundbreaking partnerships that the development team has been achieving over time. For e-Toro, the current timeframes represent an excellent opportunity to buy and invest in this cryptocurrency:
“The groundbreaking partnerships that are being formed by the Litecoin Foundation position this crypto for long-term success. According to the metrics we have analyzed below, the current price that LTC is trading at could be seen as a massive discount to what it should be worth.”
Bitcoin and Litecoin: Similar but Different (Just as Gold and Silver)
Mr. Greenspan also commented that there are numerous factors that allow to easily compare LTC and BTC with the Silver and Gold market. From the availability of both goods to the ease of mining and price fluctuation, Litecoin points more to convenience while Bitcoin points to accumulation and big operations:
Litecoin, being cheaper, more numerous and permitting faster and quicker transactions, aims to become a standard for smaller transactions, while Bitcoin can remain as the coin of choice for very large payments and store of value …
The ratio between Bitcoin and Litecoin is also rather similar to that of Silver and Gold.”
Mati also mentioned that it is possible that Litecoin is currently oversold due to the current bear market. It is important, however, to thoroughly investigate not only this crypto but all other options before making a risky financial investment.
Right now, LTC is traded at around 57USD. The cryptocurrency is ranked 7 on the global marketcap