The market dominance of Bitcoin is at a High having reached the Highs this week. With the RSI breaking over it has completed a cup formation a relief consolidation is expected. The alt market dominance is past its Lows approaching the levels. The equilibrium of the two market dominance markers is close to be achieved and since April it has been working in favor. Nov 23, · Bitcoin makes an excellent investment and trading asset due to how powerful the price swings are and the high price per coin now and in the long term according to price predictions. Litecoin, on the other hand, may sound like it isn’t as exciting due to the $50 per coin currently and the $3, per coin predictions, it is a lot easier to own. A ltcoins are also known as alternative currencies. These are bitcoin clones, bitcoin rivals (boo, hiss!). There are well over 4, different altcoins in existence. If you do not like to trade or speculate on the bitcoin against fiat currency markets, you could trade against altcoins instead.
Trading bitcoin vs altcoinBitcoin vs. Litecoin: Which one is the Better Investment | PrimeXBT
It was something that only early tech enthusiasts had access to, through mining or through a connection with someone who was mining. For example, Bitcoin first was traded for pizza at a rate of 10, for two pizzas with toppings making it the first transaction. Later, it became the currency of choice for the dark web marketplace Silk Road due to the anonymity it provides.
It also helped create an entire crypto market, filled with altcoins like Litecoin that try to beat Bitcoin at its own game but ultimately have failed to do so. Instead, these altcoins live side-by-side with Bitcoin in harmony, and each has its own pros and cons.
They both act as payment currencies, albeit Litecoin is faster. Litecoin is cheaper per coin than Bitcoin, which helped create silver and gold nicknames and the relationship between the two crypto assets. Bitcoin was the first of its kind, so all it really had to do was work. Scaling, capacity, speed, and other issues would be addressed down the line, as more developers came onto the open source project and began creating second-layer technologies like Segregated Witness and Lightning Network.
But by default, Litecoin is faster than Bitcoin. Bitcoin transactions take roughly ten minutes per blockchain confirmation. The cryptocurrency can handle approximately transactions per second.
Meanwhile, Litecoin generates blocks in 2. The cryptocurrency got its name due to being a more lite version of Bitcoin due to these attributes. Litecoin is often used to send crypto from one platform to another for this reason, and due to the low cost and speed associated with its transactions. Both cryptocurrencies were extraordinarily early and are highly decentralized and widely distributed. Of course, there are plenty of whales that own both, just due to how crypto came to be.
In addition, only so many coins are currently in circulation, making them even more rare than it would appear. Millions of coins are also presumed lost. Both also rely on the same block reward halving mechanism and proof of work consensus method to secure the network underlying network each token underpins. The biggest challenge Litecoin faces is the fact that Bitcoin and Litecoin currently target the same investors and traders. Ethereum, for example, has an entirely different use case, and developers build smart contracts and decentralized apps on top of it.
In contrast, both Bitcoin and Litecoin are used as payment currencies or a store of value. Bitcoin and Litecoin are called digital silver and gold. Like the cryptocurrencies referenced, both precious metals have limited supplies, are used as a store of value, and have been used as a currency over the ages. Few other assets have these attributes, making them unique as an investment or trading asset. Things could soon change for Litecoin, however, as Bitcoin gets much more expensive by the day, and Litecoin remains relatively affordable by comparison.
Litecoin was also just added to PayPal alongside Bitcoin, Ethereum, and Bitcoin Cash, exposing the altcoin to million mainstream users of the payment service. If and when Litecoin becomes regularly adopted as a payment currency, then it will have more utility compared to Bitcoin due to the faster speed, lower transaction fees, and a higher rate of transactions per second. The pandemic has sped up the trend towards digital currencies, so it could also happen sooner than expected, especially now with PayPay involved.
For the differences outlined above, one will make a better investment than the other. However, technical analysis, expert price predictions, and historical price action can also be telling about what to expect in terms of performance in the near-term and long-term for each.
This powerful volatility makes Litecoin an excellent asset for trading, even more so than an investment. Investors who bought at the high would be out money by holding the entire drawdown. The same goes for Bitcoin.
Litecoin has since lagged behind Bitcoin, however, this also makes Litecoin more likely to outperform Bitcoin at some point once again. Phases where altcoins like Litecoin outperform Bitcoin, are called and altcoin season and Litecoin has been left out of the last few. After so much stagnancy in Litecoin, and due to the sudden exposure of the tiny LTC supply to million PayPal users who are more likely to buy the cheap coin and not Bitcoin, it very well could make for a strong investment in the future once again.
It would take substantial capital to take Litecoin to the price per Bitcoin, and Bitcoin would likely rise with it and absorb any chance of becoming bigger. When it comes to Bitcoin vs Litecoin, it is difficult to call a clear winner, and even despite several similarities, the two assets still complement one another well. Each Altcoin is very different from every other, and also very different from Bitcoin. If you plan to invest in Alts, please do your own research and be aware that disingenuous marketing sensationalizes almost every altcoin project.
Altcoins, and the companies behind the projects are also vulnerable to regulation, Bitcoin is not. Bitcoin is the far better investment for Altcoins or Bitcoin, where will you put your money this year? Add your thoughts below! Could you be next big winner? I consent to my submitted data being collected and stored. Treasury, looking to decrease the reporting requirements Belarus has become a hot ground of the great Bitcoin experiment as the country dwells into one of its most disturbing civil crisis.
Nick Chong 2 months ago.