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.

Trade plan
Buy LTC after a breakdown of $106;
Risk of 10% of the capital;
Stop loss $96;
Take profit – $150.

Disclaimer:

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.

BitMining claims that the presented Litecoin and Dogecoin mining device will be more profitable than its predecessors. Crypto-Upvotes expert review

Shares of BitMining (BTCM) on the New York Stock Exchange (NYSE) rose 106% – from $2.11 to $4.36 per share. After the company announced the release of new LD3 mining devices on Twitter on Jan. 10.

On January 17, BitMining equipment manufacturer announced in its blog that the production of these devices has begun. They will be used to mine Litecoin (LTC) and Dogecoin (DOGE) cryptocurrencies. A total of 5 thousand machines were produced. And some of them are intended for internal use, while others are for sale.

The LD3, which has a capacity of 3.5 kW, will be more profitable than its predecessors. At the same time consuming energy more efficiently, BitMining claims. This is the second ASIC miner (mining device) that the company has developed since acquiring hardware maker Bee Computing last year. The first was the Ethereum Classic (ETC) cryptocurrency mining device last August.

Our experts remind us that BitMining business includes cryptocurrency mining. And managing data centers and manufacturing equipment. The company also owns a large mining pool, BTC.com. Which was hacked late last year. As a result of the hacker attack, the attackers managed to withdraw about $700,000 worth of crypto-assets belonging to customers from this pool. They also stole $2.3 million in cryptocurrency from their own project wallets.