Baxia Markets
June 03, 2021

Litecoin Looks To Rebound

fundamental analysis top header -01


Litecoin is looking at a potential rebound after the recent crash. Platforms such as Venmo started to accept it as a valid payment method, which has pushed the price up over the last week or so. Litecoin had also reclaimed its 200-day moving average, trading above the moving average line as we speak, showing great potential.



Litecoin is based on similar technology that operates other major cryptocurrencies such as Bitcoin. However, what’s different with Litecoin is that its blockchain is mined every 2.5 minutes compared to the 10 minutes that Bitcoin requires, meaning Litecoin can process transactions much faster than Bitcoin and is better suited to act as a simple payment method.




While Litecoin trades for less than $200, Bitcoin is still hovering around the $37,000 level. For average investors, its affordability and stability make it an excellent option as an alternative cryptocurrencies to spread the risk. Once Litecoin is widely accepted by more and more payment platforms and shops, we might see its price rise steadily.


We love to hear new ideas from traders and want to know what you think! 


If you like this topic and want to suggest future topics that you find helpful, let us know by clicking the ‘submit your feedback’ button below.


Open Live Account  


Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. 


Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit. 

Subscribe by Email