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Litecoin (LTC) is a mess – their roadmap is literally non-existent

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2016: Write roadmap & whitepaper

2017: Hype creation

2018: Cashing out and the great disappearance

This is how Litecoin was described in their own subreddit. Even funnier was the comment right above it that says Litecoin’s roadmap is literally non-existent because they forgot to renew their domain subscription.Current State Litecoin Roadmap_ _ litecoin

And that depicts the state of Litecoin the best. It is a project that has little going on for it, hovering around scanty $25 per coin.

LTC is like an abandoned legacy BTC fork that is carrying on by name recognition only, since it was one of the earliest forks. It is a 100% copy of bitcoin, brings zero innovation and the only the only reason LTC is still even on the map is because Charlie Lee talked Coinbase CEO Brian Armstrong into adding it to Coinbase.

Brian threatened to add new coins to light a fire under Core to scale bitcoin. He only planned to add ETH. But Charlie was working at Coinbase and got LTC added too. Then we had a bull run where millions of uninformed people swarmed into crypto and saw LTC on Coinbase. That’s literally the only reason this coin is still even on the map.

Litecoin does nothing to contribute any value to the cryptocurrency world. This is directly from the mouth of litecoin holders and insiders:

When you read this, the first thought that comes to mind is do we really need a $1.8 billion testbed for bitcoin? Where is the value that litecoin brings to the table. It is ok to take parts of other people’s code when it is open source, it is a common practice among developers. But to simply sit and wait for other people to do the work and just port it onto LTC is paragon of parasitism.

Here is another very detailed essay on Litecoin by Multicoin Capital, they too see no real purpose for LTC’s existence.

Charlie Lee pops out occasionally with some light comments, no firm and in-depth explanations what are they up to, but rather some spirit lifting buzzwords about bears, bulls, patience and so on. Litecoin is pointless and just like it lead the ascend of the questionable altcoins back in the bull-mania, it will slowly lead the way to the graveyard for those same altcoins.

Source: captainaltcoin

Litecoin

What Could Happen To Litecoin After It Halves? Crash Or Revival?

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The halving of Litecoin is just under a month away and with that, the fourth-biggest cryptocurrency is starting to slow down and we can see the cracks starting to show. After seeing a high for the year at $146 at the end of June, Litecoin has seen some significant losses with more than a 40 percent drop in under a month.

But according to one analyst, the worst isn’t over yet. Benjamin Blunts has shared his forecast on Litecoin’s future price action with his prediction coming in the form of a sandwich where two pieces of good news enfold the bad news.

Cutting Litecoin in Half

In less than twenty days, Litecoin will split into two. This is one of the most anticipated events for the whole crypto space in 2019, this is thanks to its bullish nature. On August 20th, block rewards for miners will be decreased from 25 to 12.5 coins. The cutback of coins that are currently circulating reduces the rate of inflation of the crypto token from 8.7 percent per year to 4.2 percent.

As reported by CCN:

“Many people expect that this event will likely supercharge Litecoin’s value. However, trader Benjamin Blunts thinks the exact opposite.

On July 15th, the analyst took to Twitter to share a chart and illustrate how the cryptocurrency has more downside potential. In the first of two tweets, the trader mentioned how Litecoin is “in an interesting place” because one can clearly see a complete five waves up. This is an indication that the market is no longer in a downtrend and that the bottom is in from a macro perspective.”

Second Coming

The analyst went on to say in a later tweet that “some more time is needed before we start a new impulsive leg to smash all-time highs.”

With this in mind, Litecoin should drop around the time of the halving.

At the end of the day, despite Litecoin showing signs of bearish movement, the upcoming halving will be leveraged to dump on unwitting retail traders. At the same time, there is another way of looking at the future of Litecoin in that it might experience a second coming of sorts and could see a new all-time high.

But given that the altcoins all seem to follow in the footsteps of Bitcoin, the future of LTC could all rest on the shoulders of the leading cryptocurrencies.

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Litecoin Partnering the Miami Dolphins Isn’t That big of a Deal

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Before cryptocurrencies can gain mainstream traction, there need to be a lot more regular use cases. So far, choices remain limited on that front. Things seem to be picking up a bit for Litecoin although becoming the “official cryptocurrency” of the Miami Dolphins will probably not have much of an impact on the price whatsoever.

LIMITED FUNCTIONALITY FOR LITECOIN

Although many people expected big things from this particular announcement, it is crucial to put everything in its proper perspective first and foremost. This new partnership does not mean any of the Miami Dolphins team or staff will be paid in Litecoin, nor is anyone asking for it. It also doesn’t mean people can buy game tickets with LTC, as that is not even on the ability at this time. 

Instead, there will be only one particular use case for Litecoin enthusiasts who visit the Hard Rock Stadium. They will be able to purchase tickets for the 50/50 raffle with either Litecoin or Bitcoin. This seems to indicate there is a genuine chance Litecoin won’t be used all that much as it goes up against the world’s leading cryptocurrency. It is expected these tickets will also go on sale online and support both payment methods. 

VERY LIMITED EXPOSURE

Although the Miami Dolphins issued an official statement regarding Litecoin on the website, it is not the sort of news which will get millions of people excited. While the label “official cryptocurrency of an NFL team” is quite interesting to achieve, it seems unlikely that anyone who isn’t a fan of this team will take much notice of this particular development. 

Combined with the fact Litecoin will face off against Bitcoin in terms of cryptocurrency payments, it seems unlikely that LTC will see any real price action because of this news. it is good to see sports teams continue to pay attention to what goes on outside of traditional finance, but no one should expect miracles either. Cryptocurrency remains a very niche market primarily of interest to speculators and traders, rather than corporations and consumers.

PLENTY OF WORK TO BE DONE

From a Litecoin community point of view, this partnership with the Miami Dolphins can be seen as a massive validation of this entire project. At the same time, the actual purpose of this deal remains rather limited and may not have any notable impact on Litecoin or the cryptocurrency industry as a whole. If the number of payments doesn’t meet expectations, this partnership can be dissolved in very quick succession without recourse.

If the main objective is to get mainstream attention for Litecoin and other cryptocurrencies, these partnerships are not the way to go. In fact, it could make people even more averse of cryptocurrencies in general, primarily because they are already niche, and are only useful for eve more niche products and services. Unless other major sports teams follow this lead by example in the years to come, this will prove to be another one-off deal which will ultimately be forgotten about fairly soon. 

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Litecoin (LTC/USD) forecast and analysis on July 17, 2019

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Cryptocurrency Litecoin (LTC/USD) is trading at 89.53. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bullish trend on Litecoin. At the moment, cryptocurrency quotes are moving near the lower border of the Bollinger Bands indicator bands.

Litecoin (LTC/USD) forecast and analysis on July 17, 2019

As part of the Litecoin course forecast, a test level of 95.10 is expected. Where should we expect an attempt to continue the fall of LTC/USD and the further development of the downward trend. The purpose of this movement is the area near the level of 70.00. The conservative Litecoin sales area is located near the upper border of the Bollinger Bands indicator at 108.50.

Litecoin (LTC/USD) forecast and analysis on July 17, 2019

Cancellation of the option to continue the decline in the rate of Litecoin will be a breakdown of the upper border of the Bollinger Bands indicator. As well as the moving average with a period of 55 and closing quotations of the pair above 110.20 area. This will indicate a change in the current bullish trend for LTC/USD. In case of a breakdown of the lower border of the Bollinger Bands indicator bands, one should expect an acceleration of the fall of the cryptocurrency.

Litecoin (LTC/USD) forecast and analysis on July 17, 2019 implies a test level of 95.10. Further growth is expected to continue to the area above the level of 70.00. The conservative area for buying Litecoin is located area of 108.50. The cancellation of the cryptocurrency growth option will be the breakdown of the level of 110.20. In this case, we should expect the continuation of the fall.

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