If Bitcoin is considered the gold standard in crypto, its “little brother,” Litecoin (LTC), wears the silver medal. And some experts think that LTC is one of three tokens that can help investors survive the bear market cryptocurrency finds itself in.
A bear market is essentially defined as a drop in investment prices. These declines can exist for prolonged periods of time and are often accompanied by negative sentiments. On the upside, this can be a perfect opportunity to buy low with the plan of selling high.
This means that if one wants to reap healthy returns in investment (ROI) during a bull market, a bear market is an optimal time to purchase cryptocurrency. The three tokens predicted to fare well in the current bear market are big Eyes, The Sandbox, and the legendary Litecoin.
Let’s be honest; the environment we are currently witnessing is akin to a crypto winter. The second quarter crash was a catastrophic meltdown the industry is still recovering from. Yet there is optimism, especially among three particular tokens.
Among these three, Litecoin shares many traits with the king of crypto, Bitcoin. LTC is a peer-to-peer digital currency like its older sibling. Yet Litecoin is faster as it was designed to process transactions with much higher speeds than Bitcoin. It is mined with a different and more efficient algorithm, plus LTS is expanding its ecosystem consistently.
Litecoin also boasts a great deal of potential to rise to its former glory. With a high price of nearly $350, a single Litecoin unit has a current price tag of just $50. This bear market will not last forever. For those with a goal of minimal investment to yield maximum profits, now is undoubtedly the time to act if one is looking to add Litecoin to their investment portfolio.