I have probably talked to well over 1,000 businesses about Accepting Litecoin, and over 100 of them have implemented Litecoin as a means of payment”, said Jon Moore, VP of Nationwide Merchant Solutions and a vocal Litecoin proponent.
In a blog post by Litecoin Foundation, titled ‘Community Spotlight: Jon Moore Is On A #PayWithLitecoin Mission’, Moore stated that one of the main concern that he came across was that not many are unaware of the fact that Litecoin and Bitcoin can be opted as a payment option.
According to the VP, Litecoin is a great option for customers to avoid one of the most hated things in payments – “chargebacks”. He elaborated that, in the case of Litecoin transactions, customers decide exactly how much to transfer to a merchant. The merchants don’t have to worry about payment fraud since blockchain is virtually immutable.
When asked to make a compelling case as to why every merchant should accept LTC, Moore said that the cryptocurrency eliminates chargebacks and gives them an option to accept an easy payment form.
Also, Litecoin’s low transaction fees have been the biggest hit with investors. He said,
“They also save money in fees with LTC compared to those incurred from processing credit cards and other methods like PayPal.”
Source: BitInfoCharts | Litecoin Transaction Fees
He further added that when a merchant accepts Litecoin, they often gain new and loyal customers by “tapping into the fiercely loyal Litecoin community”.
One of the biggest challenges, however, that is very much prevalent, is the narrative of crypto as an investment only option, which according to Moore, is only a small part of the tech’s value. In addition to that, there are concerns surrounding the cryptocurrency industry’s price volatility. He added, “and most people don’t understand that they can convert Litecoin into US dollars.”
According to the proponent, once the masses see the bridges that exist between the traditional financial world and crypto “they generally start to feel more comfortable and warm up to the idea”. Moore is hopeful about LTC’s future, with an increasing number of products are becoming available that make it easier for people to obtain and use Litecoin.
Litecoin Price Upsurge Might Lead to the Rally in the Future
- Litecoin price deals with the bear
- The day is ex[ecyted to close with the positive price change
Litecoin (LTC) movement was remarkable in the first two quarters. The last quarter created heavy market pressure, where the price fell tremendously. The traders of LTC are still hopeful for the uptrend in the coin. We are also positive that the same would take place soon enough.
Yesterday, Litecoin was seen at a $58.24 (high) and $56.00 (low). The volume was marked around $2,441,054,545.
LTC to USD Price Chart:
Litecoin started dealing at $84.85; the price escalated to $71.24 by 9.41%. The price slipped by 10.31% to reach $63.9. Further, the price escalated and the price counter changed from $63.9 to $72.9. The final upsurge took the price to 30-day high at $80 by 19.64%. Later, it fell to $51 and the month closed at $57.82; it marked a loss of 11.05%. The current month marked a fall on price within the first seven days. The price moved from $57 to $53 by 8.07%. In recent days, the escalation hiked the price to $60.2 by 13.26%.
Litecoin (LTC) holds a strong reputation in the market. The price movement has always been impressive for the traders. The coin is counted among the result-yielding currencies due to the same. There is also anticipation that Litecoin would give Bitcoin a tough competition in the future.
According to price counters, the resistance and support level is as follows:
Litecoin (LTC) is expected to give a huge dividend to the long-term traders. The investors can dig-in with a high prospect of return.
Litecoin Celebrates Its Eighth Anniversary with $500 Bln Worth of LTC Transactions
Litecoin, the silver to Bitcoin’s gold, has been up and running for eight years, defying all gloomy predictions.
In case you didn’t notice, Litecoin, one of the oldest cryptocurrencies, has turned eight. While there is no point in denying that the O.G. altcoin has always been in Bitcoin’s shadow, its journey was still remarkable.
The public launch of the Litecoin network took place on Oct. 13, 2011, after the first block was mined on Oct. 5, 2011, the day the world was devastated by the death of Apple founder Steve Jobs. Before the advent of Ripple’s XRP and Ethereum (ETH), Litecoin would steadily remain the second most-traded cryptocurrency after Bitcoin.
Charlie Lee, the mastermind behind Bitcoin-lite, points out that the network has been endlessly running for all these years without any downtime despite a plethora of doom-laden predictions.
Over the span of these eight years, LTC has recorded around $500 bln worth of transactions.
“A lot has happened in 8 years, we have seen two major bull market cycles that have propelled crypto to the forefront of public consciousness and new technologies such as Segwit, Lightning, and MimbleWimble emerge advancing the usability and prospects of the space,” the Litecoin Foundation claims.
It’s also worth mentioning Litecoin’s most controversial moment — Lee selling almost all of his LTC right on the verge of the market crash at the beginning of 2018 to avoid conflict of interest.
Back in August 2019, Lee once again faced some criticism after his leaked conversation suggested that Litecoin developers stopped working on the project. However, as reported by U.Today, Lee later dispelled these rumors.
With that being said, Litecoin is still doing just fine, quietly sitting at 6th spot with a market cap of $3.6 bln, CoinStats data shows.
Litecoin Forecast and Analysis October 14 — 18, 2019
Litecoin LTC/USD ends the trading week at 55.52 and continues to move as part of the correction and the downward channel. Moving averages indicate a bearish trend. At the moment, we should expect an attempt to rise and test the resistance area near the level of 68.05. Where again we should expect a rebound and an attempt to start falling in Litecoin with a potential target below the level of 25.55.
Litecoin Forecast and Analysis October 14 — 18, 2019
An additional signal in favor of a drop in LTC/USD quotes in the current trading week October 14 — 18, 2019 will be a test of a downward trend line on the relative strength index (RSI). The second signal will be a rebound from the upper boundary of the downward channel. Cancellation of the Litecoin fall option will be a strong growth and a breakdown of the 76.55 area. This will indicate a breakdown of the upper boundary of the channel and continued growth of the LTC/USD rate. A confirmation of the fall of the cryptocurrency will be a breakdown of the support area and closing of quotations below the level of 45.05.
Litecoin Forecast and Analysis October 14 — 18, 2019 suggests an attempt to test the resistance area near the level of 68.05. Then, the continuation of the fall to the area below the level of 25.55. An additional signal in favor of reducing Litecoin will be a test of a downward trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and a breakdown of the 76.55 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 95.55.