Litecoin (LTC) could uplift the whole market!
The crypto market is in difficult territory right now. There are all kinds of negative news coming out all too frequently. In the last week alone, we have heard of South Korea banning anonymous trading, China seeking to ban centralized trading, and India freezing the accounts of crypto traders and exchanges. Clearly this is a market that is in need of some good news. It doesn’t matter whether such news are true or just rumors!
The rumor that could change the market
Luckily for all us in the market, a positive rumor has come up! A rumor has emerged that Facebook is keen on taking over Litecoin and integrating it in its messenger platform. According to the rumor, this could be the reason why last year, Litecoin founder sold all his Litecoin (LTC) holdings, citing “conflict of interest.” His decision to sell his stake coincides with Coinbase bringing Facebook messenger’s president into its board of directors. Clearly, this coincidence is too much for the rumor to be untrue. Anyway, as we wait for this to happen, which it most likely will, let’s look at how this will have an impact on cryptocurrencies in 2018.
How will this impact the crypto market?
- It will push Litecoin “to the moon”
Like all the other coins in the market, Litecoin (LTC) is pretty beat up right now. It has lost more than 70% of its value in the last 2 weeks, owing to the negative news focused on cryptos. If this rumor turns out to be true, LTC will shoot-up to levels we have not seen before. Even $1000 a coin will be within the realms of possibility! Why you may ask? Well, as things stand, Litecoin is one of the most practical coins in the market. It has fast transaction speeds, and is very cost effective in executing transactions, the two defining features of a good crypto. Now imagine what will happen if it were to be integrated into the biggest social media platform in the world? We would all see the true meaning of “to the moon!”
- It will give gas to the whole crypto market
With all the different regulatory news coming out, people are beginning to question the future of cryptocurrencies. This is quite visible in the sideways movements of the whole market, with a major coin like Bitcoin getting stuck in the $10,500 to $12,000 range. If by any chance Facebook integrates Litecoin, the message that will ring in the minds of crypto investors is that the powers that be, do believe in cryptocurrencies. Why is that? Well, U.S multinational corporations are known to have a significant influence on the government. Heck, some are even known to work with the spy agencies, if WikiLeaks and Snowden’s revelations are anything to go by! On this basis, there is no chance in hell that the CEO of one of the largest corporations on earth would make a decision to integrate a crypto into his company’s systems, without the direct or indirect nod of the U.S government. If and I repeat if, this rumor is confirmed, the entire market will resume the exceptional upward momentum that it had all through 2018.
What to do?
The coincidences around this rumor are just too much for it to be unfounded. The best thing to do at this point is to HODL on to your Litecoin (LTC) and cross your fingers!