The new year is just around the corner, leaving many crypto HODLers and traders to think about what the market has planned for 2020. We’ve already heard from notable analysts like Trace Mayers and Mati Greenspan calling for a Bitcoin bull run in the next 12 months but what about some of the market’s top altcoins? Will Litecoin enjoy huge gains of its own or fall by the wayside? Let’s take a deeper look into the future and how a Litecoin loan might make Christmas come early.
What exactly makes for a strong altcoin season? Does it have a given recipe? One could make a strong argument that technical advancements are solely responsible for price increases. While that may be true, it really only pertains to long term growth instead of short term. For example, looking at the overall prices of altcoins since 2013, we see the majority of them have shrunk between 80%-90% of their all-time highs. Oddly enough, it is not really technical advancements that will affect short term growth but instead, just raw speculation.
That’s right. Some of the most profitable altcoins such as Litecoin, Ethereum, EOS, and Bitcoin Cash have lost most of their value since 2018 but are still driven in the short term by network effects. Therefore, one can analyze various Google Trends, wallet options, social media trends, and blockchain explorers to predict which altcoin is likely to break out next. On many eyes, that will be Litecoin in 2020.
As just mentioned, altcoins that are using strong marketing tactics and forming reputable partnerships are the ones that will shine in 2020. Take Litecoin for example. The number of merchants and partners using LTC as a payment gateway is growing at a fast pace. The graph shown above explains total transactions are on the rise and that’s in large part to Litecoin joining with key players like the Miami Dolphins who are helping spread the Litecoin brand across new, untapped markets.
Of course, Litecoin cannot go on a bull run alone. For it to really take off, Bitcoin must also come alive and reach new, all-time highs. When that happens, new money will spill into other altcoins such as LTC. That being said, now could be the perfect opportunity to use a Litecoin loan to your advantage.
If a potential BTC bull run could jumpstart the next altcoin season, then all HODLers and traders should ensure they have a balanced portfolio before that occurs. YouHodler can easily help with that. Let’s say you have too much LTC in your portfolio. If that’s the case, use visit YouHodler’s Litecoin loan page, use LTC as collateral and receive an instant fiat loan to buy a different cryptocurrency for a healthier portfolio.
Alternatively, one could use any other altcoin as collateral to acquire funds to purchase more LTC if you don’t have enough already. For the more experienced traders, “Turbocharging” your LTC credit is an automated process that leverages your loan to multiply LTC up to ten times.
As you can see, there are many ways to use a Litecoin loan to your financial advantage on YouHodler. Hopefully, the predictions are right and this promising altcoin takes off but if not, it’s always beneficial to have a healthy, balanced portfolio. Hence, click the link below to start preparing.