In this video, we go over why Litecoin will GROW to $2000 in 2021. We go over the fundamentals of Litecoin, why I’m bullish, and major LTC events that will allow it to explode. Enjoy and let’s get these gains!
00:00 – Intro
00:31 – What is Litecoin & How it Works
01:01 – Price Discussion
01:23 – LTC Technical Analysis
02:02 – Paypal Crypto Merchants
03:37 – Litecoin Scarcity
04:12 – Institutional Adoption
04:36 – LTC Consistency
05:00 – Final Thoughts
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What is Litecoin and How does it work?
Litecoin is one of the earliest “Altcoins,” or commonly known as the alternative version of Bitcoin. Litecoin was designed to be cheaper to use and faster to confirm transactions, which is very important for both customers and merchants. Litecoin transactions are confirmed every 2.5 minutes, which is four times faster than the 10 minutes required for Bitcoin transactions. Another key technical difference Litecoin has with Bitcoin is its mining algorithm, Scrypt, which makes it easier for users to generate hashes with commonly available hardware and also in the mining process.
So why do I think Litecoin has the potential of exploding to $1000 in 2021?
1. Firstly, as we’ve been talking about a lot in this channel, Paypal and Venmo have yet to release their crypto merchants internationally. So far, Paypal crypto merchants are only available in the US (excluding Hawaii) and according to Paypal, we’ll be getting these merchants anytime soon in the first half of 2021. Now the thing is, Paypal only supports 4 cryptocurrencies: Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.
The reason we need to pay attention to this is that the market and consumer base within Paypal is crucial and distinct from the regular Coinbase or Binance users. These are people who are going to buy crypto like Litecoin for 2 fundamental reasons: One, for a simple store of value and diversification of assets within Paypal because it looks easy to transfer. And two, for the expectation that these coins will go up. Even as PayPal’s CEO Daniel Schulman has said, we’re going to have 29 MILLION Merchants that people can utilize crypto to pay with, which is a LOT of people.
2. The second main reason why Litecoin in terms of fundamentals has a massive opportunity for long-term growth is that Litecoin is scarce, just like Bitcoin. Litecoin has a supply limit of just 84 million coins, which is very scarce in comparison to other altcoins, where some of them can still be mined continuously on a daily basis.
3. Institutional adoption for LTC is coming and its price boundaries right now is a massive buy. Many institutions are actually already stacking LTC quietly, such as Nasdaq per say. Realize that Litecoin has not broken out of it’s all-time high in December of 2017 when it hit $375. Whereas almost all the top 10 cryptocurrencies have already broken out significantly of their all time highs, like Bitcoin and Ethereum. I do personally believe that Litecoin has the very potential to hit $1000 this year, which would put it into a market cap of about $70 Billion, which in comparison to Bitcoin or Ethereum, is still small and I think very feasibly considering the growth in crypto adoption as a whole.
DISCLAIMER: Please be advised that the content of my media is my personal opinion and is intended for general information purposes only, not financial advice. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor.
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