While Litecoin may have dipped a little in value after the Litecoin Cash fork, all signs appear to be pointing towards a surge in support of Litecoin, with some critics even predicting a bull-run on the cryptocurrency.
The fall in Litecoin (LTC) has largely been attributed to the 10-to-1 offer which was available for all LItecoin owners, who were given the opportunity to trade in their existing Litecoin and receive 10 Litecoin Cash (LCC) for every 1 LTC – but have proponents of LCC made a grave mistake? Time will surely tell.
Social media fear
In the run-up to the LCC fork, platforms such as Facebook, Twitter and Reddit were alive with rumours that Litecoin was ready to drop excessively. This market fear may have been enough to cause the value to drop – but some crypto experts are insistent on the idea that such fears should be capitalised on, with many suggesting that the recent dip is a great time to buy Litecoin.
Could Litecoin Cash be the best thing to happen to Litecoin? Despite the initial dip, trends are pointing towards LTC surging even further ahead in value than before. It’s worth noting that the world’s fifth-largest cryptocurrency has previously reached highs in the region of $320 – and even though it has recovered somewhat within 24 hours of the Litecoin Cash fork, purchasing LTC in the region of $210 to $230 (as it currently stands) is still a relatively great deal when industry predictions are taken into account.
With numerous traders looking to capitalise on the slump, it’s possible that purchasing power over the next days and weeks will continue to increase the profile of Litecoin to the point where it reaches all new highs.
In short, forget about Litecoin Cash – now is a fantastic time to buy the original Litecoin instead.
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