- Traditional and crypto markets have been impacted by COVID 19
- Litecoin to get massive adoption despite the current debacle
- Analysts remain bullish on LTC price despite a recent poor run
Litecoin news today – The Coronavirus has continued spreading chaos across the globe bringing down the world’s economy. Both traditional and cryptocurrency markets have been hit hard. When the world health organization declared the coronavirus a pandemic, countries experienced a halt in all economic activities because large-scale quarantine orders were implemented and total lockdowns as well. With citizens confining themselves indoors, unemployment escalating, and businesses shutting down indefinitely, traditional financial markets have been experiencing major halts.
Litecoin News Today – What About Litecoin and Digital Assets?
As cashless transactions become preferable, investors can’t help but assume that cryptos are indeed the asset class for the financial future. This ideology will be tested now more than ever because people are depending on cashless exchanges for their online financial transactions during the long quarantine periods. Cryptocurrencies have been getting a strong shake from investors as volatility hits the markets hard amid the panic caused by COVID-19. Litecoin did not escape this swirly ride for digital assets. Despite the price hike of $83 that LTC enjoyed on February 14 moving from $40, Litecoin price has dropped drastically during the coronavirus era. The financial tension has caused the price of LTC to reach $28 on March 12. Almost every aspect of the financial sector has suffered a huge drop. Nevertheless, LTC’s price will continue its recovery and has indicated a steady valuation movement above since March 19. The coin resumed trading at $39 at press time.
Litecoin LTC to Achieve Massive Adoption Soon
The efforts of world governments to mitigate economic decline have caused the advent of huge crypto-asset purchases. Everyone is looking to digital assets for answers. As investors closely watch what will happen next, anxiety due to fears of inflation, they may be convinced to put more faith in alternative assets like gold and cryptos. As digital assets like Litecoin were created to activate fast, transparent, and more secure transactions, people are persuaded by the idea and want to invest in crypto for financial security. This may rise considering the ongoing pandemic that is restricting all commercial activities. Because virtual currencies are decentralized, governments and banks do not have control over your money. Unlike traditional electronic bank transactions, which can take several days at least to process transactions at high rates, cryptos enable instant settlements with low transaction fees. No wonder digital assets are often the preferred option for sending funds around the globe. Although Litecoin price is currently on the low side, analysts remain bullish on the coin.