Bitcoin is the cryptocurrency that gets the vast majority of the headlines. It is easy to see why. Bitcoin is the most popular and the most valuable form of cryptocurrency. That having been said, there are other forms of digital currency that are a very good investment right now. For example, Litecoin has been doing very well over the past week. In fact, it has gone up a total of 20 percent during that time. This has many people taking notice of Litecoin who were not really that aware of it before. A single Litecoin is now worth just over $55.
There are many experts in the financial world who are very bullish on Litecoin now. They are advising people to buy as much as they can because they believe that it will keep going up in value. However, there are also some people who are advising against such an approach. They are bearish on Litecoin and feel that an inevitable drop in the price is right around the corner. Only time will tell what direction Litecoin will go in. There is no question that it is an asset that needs to be closely monitored. It has done very well for investors over the last seven days.
Bitcoin will always be the major news maker as long as it is worth the most. However, the high price of bitcoin prohibits many investors with less money from buying it. Therefore, these people are always seeking out cheaper alternatives that will give them a solid return on their investment. Litecoin would definitely fall into the category of cheaper than bitcoin and it is able to provide a nice profit. There are a lot of things that will determine the future value of Litecoin. The global economy and tensions in certain countries will all play a role.
There are also several major countries that are seriously thinking about creating regulations that will restrict the buying and selling of cryptocurrencies. It will not be a good thing for the value of Litecoin if these regulations are put into place. All types of cryptocurrency typically go down in value when major regulations are announced. There are many investors who are deciding to see what Litecoin does over the next several months before they make any moves. This cautious approach is common among investors where cryptocurrency is concerned. Another big gain should be enough to make people start to buy large quantities of Litecoin.
