Wall Street Bears, Crypto Bulls: Litecoin (LTC) Most Consistent Major

Litecoin (LTC) – No matter where you might be in the US, you can pretty much feel the tension emanating from Wall Street. The  DOW Jones Industrial Average dropped almost a thousand points within a week after a perfect storm of bad news—the Fed raised their interest rates for the sixth time since the 2009 financial crisis; Facebook stocks plunged after a public relations debacle stemming from compromised information of millions of users; Trump issued tariffs on foreign steel and aluminum; and more, much more.

If it weren’t for the fact that the stock market closes at the end of the day, who knows where Friday’s free fall would have ended.

Analysts have been warning that the nine-year bull run that Wall Street has seen could be near an end. And it looks like those warnings are probably true. How much the stock market might continue to fall however doesn’t seem to be a concern for cryptocurrency enthusiasts. Because as stocks have been plummeting, the cryptocurrency’s version of the Dow Jones—the cci30—has shown cryptocurrencies leveling off after a tough eight weeks, but now showing strong recovery here at the end of March.

So in other words, the world of crypto is looking good. Wall Street, not so good.

As crypto proves its mettle to the financial world, it’s looking like a better and better option to soured Wall Street investors who on Friday dumped almost two percent of the entire market as stock values pretty much across the board took a nosedive.

A tough month for Wall Street: Dow Jones image source: Google Finance, Yahoo Finance!, MSN Money, disclaimer
Cryptocurrency markets stabilize and show end-month rise: Image source: cci30.com

Although the stabilizing of Bitcoin may be seen by the financial sector as the key indicator of the cryptocurrency sector’s health, one of the other major coins has shown the type of stability that Bitcoin has—and that’s Litecoin. The steady but sure Litecoin (LTC) has fluctuated this week less than any of the majors, maintaining its value in a highly consistent, stable trajectory.

A very stable week for Litecoin (LTC): Image source: coinmarketcap.com

WHERE IS THE JUICE?

Wall Street investors however in all honestly probably don’t have any interest in the cryptocurrency sector’s health. They want profits, and the big question on everyone’s mind is if there is a fourth gear to cryptocurrency. Although Bitcoin has been around in some form since 2009, it wasn’t traded until about 2011. But those early days of trading on Mt. Gox were a tiny sprig in the growth cycle of alt-coin. The years between 2014 and 2017—second gear—were the years that the alt-coin sector gained enough momentum to begin to be recognized by mainstream media. After The New York Times published the infamous “Bitcoin Scrapes $10,000 – an Investment Boom Like No Other”  in November, 2017, the alt-coin sector zoomed into third gear and the sector went wild, with alt-coins pretty much across the board surging in value up to about 3,000 percent within three weeks of that publication.

Crypto analysts pretty much credit this massive surge in Wall Street investment, spurred by the NY Times piece, for December 2017’s alt-coin price spike, a phenomenon known as The Wall Street Rush. Analysts however also credit Wall Street dumping for the subsequent fall of cryptocurrency which started mid-January 2018 and has pretty much continued into the last couple of weeks, when alt-coin prices seem to have stabilized.

But truth be known, Wall Street investors generally didn’t know what they were dealing with in the alt-coin sector. To most of them, alt-coin speculation was exactly that, a chance to make quick profits, and those rush investors did that—they profited considerably, and then they dumped.

That Wall Streeters didn’t know what they were dealing with however is precisely why they’re wondering if there is any future to cryptocurrency.

But there is, there definitely, definitely is.

Now that cryptocurrency has entered into a new era—an era where coin value is tied to real-world use, such as XRP’s significant inroads into the financial sector, being used live by Cuallix, the international financial service, in testing phase by Western Union, MoneyGram, and numerous other financial services.

This use-case era for cryptocurrency represents the fourth gear for the alt-coin sector, a time when many cryptocurrencies will become valueless, while others—those alt-coins that play a real role for the inherent qualities of the coin’s design as well as their structured application and integration—will continue to surge.

FOURTH GEAR IS OFFICIALLY HERE

So far cryptocurrency has weathered Wall Street’s January dump like a champ. Although many criticize crypto for generally having lost half to two-thirds of its value (depending on the coin) in the last 10 weeks, what they aren’t pointing out is that over a year’s time, major coins like Litecoin (LTC) are still up more than 3,000 percent.

Now there are more than 1,400 coins traded on the world’s more than 100 exchanges. Less than 10 percent of those coins have any real function. Most are coins released to support funding ideas, projects that founders propose to accomplish in ways that are not tied to the coin they are promoting, but merely promise to simply use coin proceeds to carry out some great idea. As Wall Streeters continue to dive back into the cryptocurrency sector, look for the majors to continue their upward trend, as well as late-comer coins that are truly being used for the qualities of their coin in real world application.

ADVISORY: I am not a financial advisor and I do not suggest speculating in alt-coin. The information in this op-ed is opinion and commentary only and it should not be construed as financial advice. Some information in this article comes from generally circulating content in news reports and industry web sites. I own some alt-coin, including XRP and LTC, but not much and I don’t day trade.

Be the first to comment

Leave a Reply

Your email address will not be published.


*


Privacy Policy

WideBitcoin.com is committed to safeguarding your privacy. Contact us at if you have any questions or problems regarding the use of your Personal Data and we will gladly assist you.

By using this site or/and our services, you consent to the Processing of your Personal Data as described in this Privacy Policy.

Table of Contents

  1. Definitions used in this Policy
  2. Data protection principles we follow
  3. What rights do you have regarding your Personal Data
  4. What Personal Data we gather about you
  5. How we use your Personal Data
  6. Who else has access to your Personal Data
  7. How we secure your data
  8. Information about cookies
  9. Contact information

Definitions

Personal Data – any information relating to an identified or identifiable natural person.
Processing – any operation or set of operations which is performed on Personal Data or on sets of Personal Data.
Data subject – a natural person whose Personal Data is being Processed.
Child – a natural person under 16 years of age.
We/us (either capitalized or not)

Data Protection Principles

We promise to follow the following data protection principles:

  • Processing is lawful, fair, transparent. Our Processing activities have lawful grounds. We always consider your rights before Processing Personal Data. We will provide you information regarding Processing upon request.
  • Processing is limited to the purpose. Our Processing activities fit the purpose for which Personal Data was gathered.
  • Processing is done with minimal data. We only gather and Process the minimal amount of Personal Data required for any purpose.
  • Processing is limited with a time period. We will not store your personal data for longer than needed.
  • We will do our best to ensure the accuracy of data.
  • We will do our best to ensure the integrity and confidentiality of data.

Data Subject’s rights

The Data Subject has the following rights:

  1. Right to information – meaning you have to right to know whether your Personal Data is being processed; what data is gathered, from where it is obtained and why and by whom it is processed.
  2. Right to access – meaning you have the right to access the data collected from/about you. This includes your right to request and obtain a copy of your Personal Data gathered.
  3. Right to rectification – meaning you have the right to request rectification or erasure of your Personal Data that is inaccurate or incomplete.
  4. Right to erasure – meaning in certain circumstances you can request for your Personal Data to be erased from our records.
  5. Right to restrict processing – meaning where certain conditions apply, you have the right to restrict the Processing of your Personal Data.
  6. Right to object to processing – meaning in certain cases you have the right to object to Processing of your Personal Data, for example in the case of direct marketing.
  7. Right to object to automated Processing – meaning you have the right to object to automated Processing, including profiling; and not to be subject to a decision based solely on automated Processing. This right you can exercise whenever there is an outcome of the profiling that produces legal effects concerning or significantly affecting you.
  8. Right to data portability – you have the right to obtain your Personal Data in a machine-readable format or if it is feasible, as a direct transfer from one Processor to another.
  9. Right to lodge a complaint – in the event that we refuse your request under the Rights of Access, we will provide you with a reason as to why. If you are not satisfied with the way your request has been handled please contact us.
  10. Right for the help of supervisory authority – meaning you have the right for the help of a supervisory authority and the right for other legal remedies such as claiming damages.
  11. Right to withdraw consent – you have the right withdraw any given consent for Processing of your Personal Data.

Data we gather

Information you have provided us with
This might be your e-mail address, name, billing address, home address etc – mainly information that is necessary for delivering you a product/service or to enhance your customer experience with us. We save the information you provide us with in order for you to comment or perform other activities on the website. This information includes, for example, your name and e-mail address.

Information automatically collected about you
This includes information that is automatically stored by cookies and other session tools. For example, your shopping cart information, your IP address, your shopping history (if there is any) etc. This information is used to improve your customer experience. When you use our services or look at the contents of our website, your activities may be logged.

Information from our partners
We gather information from our trusted partners with confirmation that they have legal grounds to share that information with us. This is either information you have provided them directly with or that they have gathered about you on other legal grounds. See the list of our partners here.

Publicly available information
We might gather information about you that is publicly available.

How we use your Personal Data

We use your Personal Data in order to:

  • provide our service to you. This includes for example registering your account; providing you with other products and services that you have requested; providing you with promotional items at your request and communicating with you in relation to those products and services; communicating and interacting with you; and notifying you of changes to any services.
  • enhance your customer experience;
  • fulfil an obligation under law or contract;

We use your Personal Data on legitimate grounds and/or with your Consent.

On the grounds of entering into a contract or fulfilling contractual obligations, we Process your Personal Data for the following purposes:

  • to identify you;
  • to provide you a service or to send/offer you a product;
  • to communicate either for sales or invoicing;

On the ground of legitimate interest, we Process your Personal Data for the following purposes:

  • to send you personalized offers* (from us and/or our carefully selected partners);
  • to administer and analyse our client base (purchasing behaviour and history) in order to improve the quality, variety, and availability of products/ services offered/provided;
  • to conduct questionnaires concerning client satisfaction;

As long as you have not informed us otherwise, we consider offering you products/services that are similar or same to your purchasing history/browsing behaviour to be our legitimate interest.

With your consent we Process your Personal Data for the following purposes:

  • to send you newsletters and campaign offers (from us and/or our carefully selected partners);
  • for other purposes we have asked your consent for;

We Process your Personal Data in order to fulfil obligation rising from law and/or use your Personal Data for options provided by law. We reserve the right to anonymise Personal Data gathered and to use any such data. We will use data outside the scope of this Policy only when it is anonymised. We save your billing information and other information gathered about you for as long as needed for accounting purposes or other obligations deriving from law, but not longer than 1 year.

We might process your Personal Data for additional purposes that are not mentioned here, but are compatible with the original purpose for which the data was gathered. To do this, we will ensure that:

  • the link between purposes, context and nature of Personal Data is suitable for further Processing;
  • the further Processing would not harm your interests and
  • there would be appropriate safeguard for Processing.

We will inform you of any further Processing and purposes.

Who else can access your Personal Data

We do not share your Personal Data with strangers. Personal Data about you is in some cases provided to our trusted partners in order to either make providing the service to you possible or to enhance your customer experience. We share your data with:

Our processing partners:

  • facebook.com
  • google.com
  • bing.com
  • twitter.com
  • pinterest.com

Our business partners:

  • facebook.com
  • google.com
  • bing.com
  • twitter.com
  • pinterest.com

Connected third parties:

  • facebook.com
  • google.com
  • bing.com
  • twitter.com
  • pinterest.com

We only work with Processing partners who are able to ensure adequate level of protection to your Personal Data. We disclose your Personal Data to third parties or public officials when we are legally obliged to do so. We might disclose your Personal Data to third parties if you have consented to it or if there are other legal grounds for it.

How we secure your data

We do our best to keep your Personal Data safe. We use safe protocols for communication and transferring data (such as HTTPS). We use anonymising and pseudonymising where suitable. We monitor our systems for possible vulnerabilities and attacks.

Even though we try our best we can not guarantee the security of information. However, we promise to notify suitable authorities of data breaches. We will also notify you if there is a threat to your rights or interests. We will do everything we reasonably can to prevent security breaches and to assist authorities should any breaches occur.

If you have an account with us, note that you have to keep your username and password secret.

Children

We do not intend to collect or knowingly collect information from children. We do not target children with our services.

Cookies and other technologies we use

We use cookies and/or similar technologies to analyse customer behaviour, administer the website, track users’ movements, and to collect information about users. This is done in order to personalize and enhance your experience with us.

A cookie is a tiny text file stored on your computer. Cookies store information that is used to help make sites work. Only we can access the cookies created by our website. You can control your cookies at the browser level. Choosing to disable cookies may hinder your use of certain functions.

We use cookies for the following purposes:

  • Necessary cookies – these cookies are required for you to be able to use some important features on our website, such as logging in. These cookies don’t collect any personal information.
  • Functionality cookies – these cookies provide functionality that makes using our service more convenient and makes providing more personalised features possible. For example, they might remember your name and e-mail in comment forms so you don’t have to re-enter this information next time when commenting.
  • Analytics cookies – these cookies are used to track the use and performance of our website and services
  • Advertising cookies – these cookies are used to deliver advertisements that are relevant to you and to your interests. In addition, they are used to limit the number of times you see an advertisement. They are usually placed to the website by advertising networks with the website operator’s permission. These cookies remember that you have visited a website and this information is shared with other organisations such as advertisers. Often targeting or advertising cookies will be linked to site functionality provided by the other organisation.

You can remove cookies stored in your computer via your browser settings. Alternatively, you can control some 3rd party cookies by using a privacy enhancement platform such as optout.aboutads.info or youronlinechoices.com. For more information about cookies, visit allaboutcookies.org.

We use Google Analytics to measure traffic on our website. Google has their own Privacy Policy which you can review here. If you’d like to opt out of tracking by Google Analytics, visit the Google Analytics opt-out page.

Read more about cookies on our Cookie Policy

Contact Information

email: [email protected]

Changes to this Privacy Policy

We reserve the right to make change to this Privacy Policy.

You can configure your Internet browser, by changing its options, to stop accepting cookies completely or to prompt you before accepting a cookie from the website you visit. If you do not accept cookies, however, you may not be able to use all portions of the WideBitcoin Websites or all functionality of the Services.

Please note that disabling these technologies may interfere with the performance and features of the Services.

You may also disable cookies on the WideBitcoin Sites by modifying your settings here:

Visitor comments may be checked through an automated spam detection service.

Last Update: May 25, 2018