Why Litecoin is So Calm Nowadays?

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Litecoins

ForexMinute.com – Cryptocurrencies are known for their volatility. The huge rises and falls are what that signifies them as one of the riskiest investments. While we can guess how the so called pumps-and-dumps politicizes the whole market scenario every other day, what less we know is how this practice tarnish the overall image of Cryptocurrencies – a reason why financial regulators from every corner of the world keep issuing warnings against them once in a while.

But with Litecoin, what we are seeing presently is the complete opposite. The most traded cryptocurrency after Bitcoin, and known as the latter’s perfect alternative, Litecoin today is hardly volatile like its counterparts. Its prices have remained between $10 and $11 for some months, ineffective to the huge falls and improvements of Bitcoin – a currency which mostly influences the Litecoin price charts.

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But this time, the coin seems to be forming its own style and league and is turning out to be the only option in the overcrowded cryptocurrency market that is promising stability in investments – no funny business here indeed. The growing influence of other new Cryptocurrencies – like Darkcoin or Nxt – on the market can be one reason of Litecoin is being devoid of any good PR.

The major reason of such calm behavior, however, is the much-awaited welcome of ASICs into the Litecoin industry. It seems like the entire hope of the silver coin is finally on the potential investments Scrypt ASICs will bring. Charlie Lee, creator of Litecoin, also supports this thought. We can assume that Litecoin is staying out of the zone of heavy investments for now, indicating that nobody has the power to drive the Litecoin market single handedly – making its less corrupted than others.

It is eventually easy to say now that Litecoin is for those who believe in gradual profits rather than those awful wild fluctuations. Indeed, the coin will erupt like anything once the ASICs will arrive – another reason why most of the investors might be holding on to their investments. At the end, Litecoin is showing how a cryptocurrency can look stable and attractive if being functioned honestly.

To contact the reporter of the story: Yashu Gola at yashu@forexminute.com

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