Thus far, Litecoin has been among the weakest performers in the cryptocurrency top ten by market cap during this recent altcoin season, but that is all about to change.
Here’s why Litecoin is ready to shine once again and could soon become the stand-out industry leader.
Why Has Litecoin Lagged Behind The Rest Of The <span class="wpg-tooltip-term-title">Altcoin</span></h3><div class="wpg-tooltip-content">Altcoin is defined as any cryptocurrency except for Bitcoin. “Altcoin” is a combination of two words: “alternative Bitcoin” or “alternative coin”. There are over 1,500 altcoins with many more planned for release.<p class="wpg-read-more"><a href="https://www.newsbtc.com/dictionary/altcoin/">» Read more</a><p></div>”>Altcoin Market?
Markets are cyclical, and capital flows to and from one asset to another. During crypto <span class="wpg-tooltip-term-title">Bear</span></h3><div class="wpg-tooltip-content">Bear market is defined as a decreasing set of prices for various types of assets. A bearish investor wants to profit from the movement of dropping prices. You can think of a bear, swinging his big paw downward on the investment, crushing prices.<p class="wpg-read-more"><a href="https://www.newsbtc.com/dictionary/bear/">» Read more</a><p></div>”>bear markets, money trends towards the dollar and away from risk.
Altcoins especially take the brunt of the beating, and Bitcoin holds onto more value gained than others. But when sentiment is positive, altcoins typically outperform Bitcoin by a sizable margin, during phases called alt seasons.
Related Reading | Here’s The Line Separating Bitcoin Dominance From Altcoin Season
Another alt season is upon us, and even meme-based assets like Dogecoin are rallying 800% in a single day. Ethereum has set a new all-time high and most other top ten cryptocurrencies by market cap are soaring. Even XRP, a <span class="wpg-tooltip-term-title">Coin</span></h3><div class="wpg-tooltip-content">A coin is a unit of digital value. When describing cryptocurrencies, they are built using the bitcoin technology and have no other value unlike tokens which have the potential of software being built with them.<p class="wpg-read-more"><a href="https://www.newsbtc.com/dictionary/coin/">» Read more</a><p></div>”>coin now reeling due to being deemed an unregistered security by the SEC, saw a surge.
Meanwhile, one of the oldest coins out there and one that has hung onto the top ten assets by market cap for much of its existence, continues to lag behind the market. But Litecoin could be gearing up for something huge.
Litecoin has an extremely negative reputation in the crypto market, both for its recent failure to produce returns for investors, and due to the <span class="wpg-tooltip-term-title">Coin</span></h3><div class="wpg-tooltip-content">A coin is a unit of digital value. When describing cryptocurrencies, they are built using the bitcoin technology and have no other value unlike tokens which have the potential of software being built with them.<p class="wpg-read-more"><a href="https://www.newsbtc.com/dictionary/coin/">» Read more</a><p></div>”>coin’s founder dumping holdings at the peak of the last bull