One thing to keep in mind is the supply of Litecoin, resulting in more long-term buying pressure. Bitcoin has a limit of 21 million, with almost 19 million already circulating, and an estimated 20% of Bitcoin permanently lost. Therefore, the total transactable is below 17 million Bitcoin . Litecoin has a maximum supply of 84 million, with less than 67 million minted. Three of the biggest advantages of Litecoin over Bitcoin are speed, transaction costs, and privacy. Mining costs are also notable cheaper compared to Bitcoin . It allows LTC/USD to attract more hobby miners, which increases decentralization. Bitcoin is highly concentrated, with a few big players controlling the market.
The forecast for the LTC/USD is turning cautiously with a formation and US Dollar weakness ahead.
Can bulls step in and defend the $100 level, forcing LTC/USD back into its horizontal resistance area?