LITECOIN TECHNICAL ANALYSIS (LTC US DOLLAR)



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Themes affecting Cryptocurrencies

Latest Litecoin Analysis


Latest Litecoin Analysis

Editors' picks

Litecoin Price Prediction: LTC tries to retake $100 resistance as miners halt sell-off

Litecoin Price Prediction: LTC tries to retake $100 resistance as miners halt sell-off

Litecoin price grazed 105 mark on Monday, rebounding 22% from the one-month low of $87 recorded during last week’s market crash. On-chain data shows sell pressure among LTC miners has subsided. Is the bottom in?  

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Bitcoin fails to recover as Metaplanet buys the dip

Bitcoin fails to recover as Metaplanet buys the dip

Bitcoin price struggles around $95,000 after erasing gains from Friday’s relief rally over the weekend. Bitcoin’s weekly price chart posts the first major decline since President-elect Donald Trump’s win in November.

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SEC Commissioner Hester Pierce sheds light on Ethereum ETF staking under new administration

SEC Commissioner Hester Pierce sheds light on Ethereum ETF staking under new administration

In a Friday interview with Coinage, SEC Commissioner Hester Peirce discussed her optimism about upcoming regulatory changes as the agency transitions to new leadership under President Trump’s pick for new Chair, Paul Atkins.

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Bitcoin dives 3% from its recent all-time high, is this the cycle top?

Bitcoin dives 3% from its recent all-time high, is this the cycle top?

Bitcoin investors panicked after the Fed's hawkish rate cut decision, hitting the market with high selling pressure. Bitcoin's four-year market cycle pattern indicates that the recent correction could be temporary.

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Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy

Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy

Bitcoin price has surged more than 140% in 2024, reaching the $100K milestone in early December. The rally was driven by the launch of Bitcoin Spot ETFs in January and the reduced supply following the fourth halving event in April.

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CRYPTO EDUCATION

Characteristics of Litecoin

Litecoin is an open-source cryptocurrency created on October 7, 2011. It emerged as an alternative to Bitcoin, improving some of its basic characteristics:

  • First, it has a greater speed in the verification and processing of its blocks, which are carried out in 2.5 minutes while the time required by the Bitcoin is 10 minutes.
  • Second, the Bitcoin will reach its total volume in 2140, when it will have a total of 21 million units. The Litecoin will have a maximum of 84 million units.
  • Third, the Litecoin has a function that simplifies and reduces the energy necessary to perform the mining of the cryptocurrency called Scrypt proof of work.

Among the main similarities between Litecoin and Bitcoin::

  • Both are based on the blockchain
  • It allows a mining process
  • The division of the main unit of both Litecoin and Bitcoin is 8 decimals.
  • The difficulty of mining Bitcoin and Litecoin increases every 2016 blocks.
  • Both use the Proof of Work (PoW) algorithm

What is the Difference Between Litecoin and Bitcoin?

In addition to the aforementioned differences between Litecoin and Bitcoin, it is vital to note that mining differs between both cryptocurrencies. The central change lies within the algorithms. Litecoin uses crypt while Bitcoin’s algorithm is based on SHA-256. The S-crypt algorithm makes extracting Litecoin far faster in generating a block: a mere 2.5 minutes against 10 minutes for Bitcoin.

The rapid mining clip results in enhanced security: being four times faster makes Litecoin more secure. Likewise, mining Litecoin entails an additional benefit. As Litecoin miners are grouped in mining pools, the compensation for the effort is attributed to all participants and there is a diminished probability of mining efforts resulting in no compensation. This feature has attracted miners to LTC, which has the second-highest mining volume behind Bitcoin.

How to buy Litecoin, Bitcoin, Ethereum and Ripple

Trading cryptocurrencies does not have to be a tiresome and obscure process once you know what to do and what to expect. Below is a quick round up of key takeaways. How to buy and trade cryptocurrency in four easy steps:

  • Step one. Choose your coin. If you are new to cryptocurrencies, start with Bitcoin, Ethereum, Litecoin or other large and established currencies. They are more liquid and less volatile.
  • Step two. Create your wallet. The easiest way to do this is to register with an online service. Don't forget, that wallets are currency specific. It means that they can send and receive only compatible coins and tokens. If you prefer pure trading and not owning cryptos, you can skip this step.
  • Step three. Buy some crypto coins with P2P trading platforms or visit cryptocurrency exchange that supports buying crypto for fiat money. You will need to provide details to register with the exchanges. Some of them will have you link your bank account or credit card to pay for your Bitcoins. If you prefer only trading and not owning cryptos, you can skip this stage.
  • Step four. Open an account with a cryptocurrency trading exchange with good liquidity and a full range of tradable cryptocurrency pairs or with a forex broker. Some exchanges and brokers will ask you to verify your identity and enable two-step authentication for better protection. Step five. Develop a solid trading strategy and exercise strict self-discipline to avoid hasty trading decisions. Educate yourself on trading fundamentals and trading psychology issues - they all apply to cryptocurrency markets.