Our experts assess the prospects for the Litecoin cryptocurrency and tell us what will drive its price up
In the current cryptocurrency market, Litecoin (LTC) looks attractive to buy. There are several reasons for this.
Firstly, the launch in the US of a new exchange for institutional investors, EDX Markets. In terms of funding, the exchange is backed by well-known professional participants such as Citadel Securities, Fidelity, Charles Schwab, Sequoia Capital and Virtu Financial. The exchange allows trading in a limited list of cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH).
For example, if you look at Bitcoin Cash (BCH). You can see the reaction in just over a week has increased in value by 3 times.
A similar scenario can be expected from the cryptocurrency Litecoin (LTC). It is close to a yearly high. If we draw an analogy with BCH. After the upward breakout of a significant high, the upward trend began to accelerate.
Second, the continuing risk appetite on global stock platforms. A number of public companies have already fully recouped the decline of last year, and some even updated their historical highs.
Buy LTC after a breakdown of $106;
Risk of 10% of the capital;
Stop loss $96;
Take profit – $150.
Crypto-Upvotes does not provide investment advice. This material is for information purposes only. Cryptocurrency is a volatile asset that can lead to financial losses.