15.07.202008:59 Forex Analysis & Reviews: LTC - trap for the bulls!

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Good afternoon traders! Let's discuss the cryptocurrency, Litecoin (LTC).

At the moment, LTC has the following advantages:

Litecoin has the necessary scalability to be a fiat, that is, money that can be used to pay for goods and services.
Compared to other cryptocurrencies, Litecoin generates much faster, in just 2.5 minutes.
Litecoin has a much simpler mining process than Bitcoin and other cryptocurrencies, which means that it requires less investment.
Litecoin is more flexible than Bitcoin so it is more amenable to change.

However, it also has the following disadvantages:

The LTC, binding to silver, is very doubtful just like Bitcoin to gold. Miners cannot equate them to precious metals.
A high level of production increases the probability that miners will spend exactly as much as they earn.
LTC is most vulnerable to hacker attacks and unauthorized hacks.
Compared to other cryptocurrencies, Litecoin is not popular on the world stage.
Compared to 2017, the price of one Litecoin has greatly decreased.

Since for the entire period of its existence Litecoin has decreased by 19%, experts say that it is unlikely to return to its highest value in 2017. But some still believe that in 2020, its value will increase to $ 300, and by 2025 it can reach $ 950. Nevertheless, statistics show that investing in this asset is very risky.

Hence, in accordance with the Stop Hunting strategy, work in a speculative manner to further decrease the asset.

Price Action and Stop Hunting strategies were used to create this trading idea.

Always remember to control the risks.

Good luck!

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