The fate of cryptocurrency in Indian market remains uncertain despite the law commission’s recommendation of considering them as a commodity. The crypto enthusiasts were expecting a breaking news after the recent report of Law Commission. However, the expectations of investors are moving towards a negative zone with a continuous downfall in the prices of digital currencies.
Perhaps, that’s not the case with all kinds of cryptocurrency in the market as of now. It is known that Ethereum is going to make a big entry in the Indian market in the form of its blockchain network. In comparison to Bitcoin, it has much more to offer than just crypto coins. Another peer-to-peer cryptocurrency Litecoin (LTC) is getting popular among the investors. Although its prices are not trending high it seems that this is going to pick up in the upcoming months. Cryptocurrency Litecoin (LTC) bounced to a decent value almost a week back.
Indeed it received a steep downfall following the ban imposed by the Reserve Bank of India. A huge section of the investors is probably looking forward to selling off them. But the pending decision of the Supreme Court may reverse the entire story. The prices of cryptocurrency LTC is moving back and forth between $75.95 and $88.76. The experts believe that even single breaking news will make a rapid shift in the market.
Cryptocurrency Litecoin (LTC) Acceptance Rise
Litecoin is likely to be taken up by the investors as it is very superior in comparison to the first generation virtual coins. This is certainly going to make it different and more reliable. Perhaps, the loyal Bitcoin and Ripple customers may change their focus elsewhere. Another, important detail about Litecoin is that it is mineable and its reserves are declining which will increase the value FCoin in the days of scarcity.
Probably, Litecoin will rise up as the new king of a crypto trade in the upcoming days.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]