Why LiteCoin Is Vastly Underrated
Litecoin like any other cryptocurrency is a highly volatile investment therefore to be happy you do not want to invest money that you are likely to be in need of anytime soon. Even if underrated, Litecoin can’t still be fully trusted not to crash out in the event of a major scandal. That being said, I am of the belief that Litecoin has the potential to follow a trajectory of success simply due to the backing it is getting from institutions and people.
A typical misconception that many novice ‘investors’ come to learn the hard way is that in crypto-currencies much like any other investment, there is no holy grail. However, many of them undergo so many disappointments in their journey of making money such that they become so skeptic and overly cautious to the point that they even miss a sure thing. This is what can be said to be the fate that has made Litecoin to be vastly underrated as most people tend to be so busy trying to turn crypto-currencies into a “thing” investment wise instead of trying to first of all understand its true potential.
There is also the popular misconception that if you are in it for the learning experience and not the money, then Litecoin is your thing because all it is mere upgrade of Bitcoin. The misconception is further stretched whereby they say that, if you are in it for the idea and not for the money, LiteCoin is the way to go. This has contributed significantly to it being underrated as people come in with that kind of mindset automatically relegating it to a ‘wanabee ’ position instead of considering it as a potentially equal player among the top cryptocurrencies.
Litecoin is one of the cryptocurrencies whose performance in recent years has actually been very impressive. It has outperformed many of its genre whereby, as of this first month of, 2018, it has managed to continuously retain its top 10 position as one of the largest cryptocurrency (i.e by market capitalization) in the world, its market cap averaging$13 billion. Mind you this is after it experienced one of the longest bearish trend after the Charlie Lee announcement incident where it fell by over 50% in two trading days. I do not know about you, but that is a near impossible feat for any kind of investment let alone in such a sensitive and relatively new concept of cryptocurrency.
However in defense of investors, what can perhaps be said to be attributed to them underrating Litecoin to such an extent is that many (i.e investors) are still not sure what it is or how it sets itself apart from its bigger compatriots. What needs to be largely agreed upon by many techno savvy investors is that Litecoins is like most altcoins, they all falls short of suggesting any new ideas but instead only refines the ones that were founded by bitcoin. Investors need to keep in mind that all of these crypto-currencies being invested in do not have an intrinsic value. In the words of a market specialists, “its a bubble”.